ADULT READING CENTER INC (EIN 760229186) - Form 990 Financial Analysis & Trantor Score

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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

1987

Legal Domicile

Principal Officer

GLORIA SPRUCE

Phone

2814851000

Tax Period

2022-07-01 to 2023-06-30

ADULT READING CENTER INC, founded in 1987, is a small nonprofit that reported $565K in total revenue in fiscal year 2022.

Mission

TO ENGAGE, EDUCATE, AND EMPOWER COMMUNITIES OF ADULT LEARNERS BY ADVANCING LITERACY SKILLS AND EMPLOYMENT OPPORTUNITIES TO ACHIEVE A BETTER QUALITY OF LIFE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $506,416

Program Service Revenue $0

Investment Income $319

Other Revenue $57,782

TOTAL REVENUE $564,517

Expense Breakdown

Grants Paid $0

Salaries & Benefits $297,664

Fundraising Expenses $34,998

Program Expenses $353,887

Other Expenses $316,825

TOTAL EXPENSES $614,489

Year-over-Year Comparison

	2022	2021	Change
Revenue	$564,517	$531,952	+0.1%
Expenses	$614,489	$614,124	+0.0%
Net Income	$-49,972	$-82,172	-0.4%

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

Volunteers

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

$63,347

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN MICHAEL MURPHY	CHAIR	1.00	Officer Director	$0	$0	$0
YEHIA M OMAR	DIRECTOR	1.00	Officer Director	$0	$0	$0
DESIREE BOUTTE	DIRECTOR	1.00	Director	$0	$0	$0
ARQUELLA HARGROVE	DIRECTOR	1.00	Director	$0	$0	$0
BISHOP IRIS BEY	DIRECTOR	1.00	Director	$0	$0	$0
ERIKA JONES	DIRECTOR	1.00	Director	$0	$0	$0
QIANA JAMES	DIRECTOR	1.00	Director	$0	$0	$0
CARLA WILDER	DIRECTOR	1.00	Director	$0	$0	$0
GLORIA SPRUCE	PRESIDENT AND CEO	40.00	Officer	$63,347	$0	$63,347

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
2023	$564,517	$614,489	$362,585	$-49,972
2022	$531,952	$614,124	$335,509	$-82,172
2020	$463,686	$593,990	$249,239	$-130,304
2019	$384,936	$561,788	$278,858	$-176,852
2018	$543,658	$598,133	$439,206	$-54,475

ADULT READING CENTER INC