READ TO SUCCEED INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

BARBARA A PAPITTO

Phone

4018285751

Tax Period

2024-10-01 to 2025-09-30

READ TO SUCCEED INC, founded in 2007, is a small nonprofit in the Education sector that reported $603K in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Net assets of $1.3M represent 25 months of operating reserves.

Mission

TO ENCOURAGE ELEMENTARY AND MIDDLE SCHOOL STUDENTS TO READ DURING THEIR SUMMER VACATION.

Program Service Accomplishments

Program 1

Expenses: $587,911

425 STUDENTS SUCCESSFULLY COMPLETED THE SUMMER PROGRAM AND RECEIVED CERTIFICATES. DEPOSITS OF $1,000 TO THE COLLEGE BOUND FUND HAVE BEEN MADE FOR 425 STUDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $554,142

Program Service Revenue $0

Investment Income $49,328

Other Revenue $0

TOTAL REVENUE $603,470

Expense Breakdown

Grants Paid $425,000

Salaries & Benefits $0

Fundraising Expenses $60,000

Program Expenses $587,911

Other Expenses $168,316

TOTAL EXPENSES $653,316

Year-over-Year Comparison

	2024	2023	Change
Revenue	$603,470	$533,648	+0.1%
Expenses	$653,316	$697,550	-0.1%
Net Income	$-49,846	$-163,902	-0.7%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM GORDON	DIRECTOR	0.00	Director	$0	$0	$0
BARBARA A PAPITTO	DIRECTOR,PRESIDENT	5.00	Officer Director	$0	$0	$0
DAN CORLEY	DIRECTOR	0.00	Director	$0	$0	$0
DAVID F GUERTIN	DIRECTOR	8.00	Director	$0	$0	$0
DAVID WEGRZYN	DIRECTOR	0.00	Director	$0	$0	$0
EDWARD P PIERONI	DIRECTOR,TREASURER	0.00	Officer Director	$0	$0	$0
EDWARD POWER	DIRECTOR	0.00	Director	$0	$0	$0
JL SINGLETON	DIRECTOR	0.00	Director	$0	$0	$0
JAMES MYERS MD	DIRECTOR	0.00	Director	$0	$0	$0
JOHN TARANTINO ESQ	DIRECTOR	0.00	Director	$0	$0	$0
LINDA JANE MAAIA	DIRECTOR	0.00	Director	$0	$0	$0
LINDSAY MITCHELL	DIRECTOR	0.00	Director	$0	$0	$0
MICHAEL A VOCCOLA ESQ	DIRECTOR	0.00	Director	$0	$0	$0
ROBERT MURRAY	DIRECTOR	0.00	Director	$0	$0	$0
ROBERT RICCI	DIRECTOR	0.00	Director	$0	$0	$0
ROSEMARY GRANT	DIRECTOR	0.00	Director	$0	$0	$0
TIMOTHY DRAPER	DIRECTOR	0.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$603,470	$653,316	$1,347,640	$-49,846
2024	$533,648	$697,550	$1,302,289	$-163,902
2023	$459,910	$574,651	$1,473,384	$-114,741
2022	$439,356	$491,154	$1,589,120	$-51,798
2021	$480,541	$406,062	$1,645,443	$74,479
2020	$268,700	$378,532	$1,644,892	$-109,832
2019	$571,996	$375,545	$1,775,827	$196,451
2018	$291,673	$356,836	$1,773,979	$-65,163