HAMDEN, CT
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FREEDOM READS INC, founded in 2021, is a community nonprofit in the Human Services sector that reported $3.6M in total revenue in fiscal year 2024. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $6.1M exceeded revenue, resulting in a 68% operating deficit.
FREEDOM READS' MISSION IS TO BRING JOY, INSPIRE HOPE, AND HELP THOSE INSIDE CONFRONT WHAT PRISON DOES TO THE SPIRIT. WE BRING BEAUTIFUL, HANDCRAFTED BOOKCASES INTO PRISONS, TRANSFORMING CELLBLOCKS INTO FREEDOM LIBRARIES. THE FREEDOM LIBRARY IS A PHYSICAL INTERVENTION INTO THE LANDSCAPE OF PLASTIC AND STEEL AND LONELINESS THAT CHARACTERIZES PRISON. IN AN ENVIRONMENT WHERE THE FREEDOM TO THINK, TO CONTRIBUTE TO A COMMUNITY, AND EVEN TO DREAM ABOUT WHAT IS POSSIBLE IS TOO OFTEN CURTAILED, FREEDOM READS REMINDS THOSE INSIDE THAT THEY HAVE NOT BEEN FORGOTTEN.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $3,608,736 | $14,531,468 | -0.8% |
| Expenses | $6,058,378 | $4,637,427 | +0.3% |
| Net Income | $-2,449,642 | $9,894,041 | -1.2% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| TRACEY MEARES | BOARD CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| DEBORAH LEFF | VICE CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| STEVE LEVITT | VICE CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| HELENA HUANG | SECRETARY | 1.00 |
Director
|
$0 | $0 | $0 |
| ALVA GREENBERG | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| DR CARLA HAYDEN | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| ANTHONY W MARX | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| ALEX DURAN | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| GARA LAMARCHE | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| SCOTT SEMPLE | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| BRYAN STEVENSON | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| ROBERT RABEN | BOARD DIRECT | 1.00 |
Director
|
$0 | $0 | $0 |
| REGINALD DWAYNE BETTS | FOUNDER & CE | 40.00 |
Officer
Director
|
$211,330 | $30,013 | $241,343 |
| IVAN DOMINGUEZ | CCO | 40.00 |
Officer
|
$155,170 | $17,081 | $172,251 |
| TYLER SPERRAZZA | CPO | 40.00 |
Officer
|
$128,953 | $13,462 | $142,415 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $3,608,736 | $6,058,378 | $13,192,974 | $-2,449,642 |
| 2023 | $14,531,468 | $4,637,427 | $15,645,672 | $9,894,041 |
| 2022 | $6,175,615 | $1,919,726 | $4,796,992 | $4,255,889 |
Compare FREEDOM READS INC with other nonprofits in Connecticut and across the country.