Project Read

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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

2006

Legal Domicile

Principal Officer

Shauna Brown

Phone

8018526654

Tax Period

2024-07-01 to 2025-06-30

Project Read, founded in 2006, is a small nonprofit in the Education sector that reported $397K in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $366K left a modest 8% surplus.

Mission

Building bright futures through literacy, digital skills, math, and conversation.

Program Service Accomplishments

Program 1

Expenses: $260,976

Tutoring and small group instruction to help individuals achieve education, literacy, employment, lifestyle and digital skills goals.

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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 $370,814

Program Service Revenue $0

Investment Income $10,094

Other Revenue $16,483

TOTAL REVENUE $397,391

Expense Breakdown

Grants Paid $0

Salaries & Benefits $266,051

Fundraising Expenses $16,626

Program Expenses $260,976

Other Expenses $100,013

TOTAL EXPENSES $366,064

Year-over-Year Comparison

	2024	2023	Change
Revenue	$397,391	$309,463	+0.3%
Expenses	$366,064	$259,285	+0.4%
Net Income	$31,327	$50,178	-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

286

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

$49,033

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Baum	Chair	1.00	Officer Director	$0	$0	$0
Carla Gordon	Treasurer	1.00	Officer Director	$0	$0	$0
Mike Christensen	Board Member	1.00	Director	$0	$0	$0
Dave Franz	Board Member	1.00	Director	$0	$0	$0
Natalie Grecu	Board Member	1.00	Director	$0	$0	$0
Sherri Hafen	Board Member	1.00	Director	$0	$0	$0
Heather Hogue	Board Member	1.00	Director	$0	$0	$0
Amber McGuire	Board Member	1.00	Director	$0	$0	$0
Matt McLain	Board Member	1.00	Director	$0	$0	$0
Angela Shewan	Board Member	1.00	Director	$0	$0	$0
Angela Smedley	Board Member	1.00	Director	$0	$0	$0
Shauna Brown	Executive Director	25.00	Officer	$46,573	$2,460	$49,033

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	$397,391	$366,064	$392,742	$31,327
2024	$309,463	$259,285	$273,814	$50,178