READ FOUNDATION (EIN 943487601) - 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

2009

Legal Domicile

Principal Officer

SAMUEL BEYHAN

Phone

9013677814

Tax Period

2023-07-01 to 2024-06-30

READ FOUNDATION, founded in 2009, is a mid-sized nonprofit in the Education sector that reported $26.9M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.4M, a strong 20% operating margin.

Mission

TO PROVIDE A SAFE AND COLLABORATIVE ENVIRONMENT WHICH WILL CULTIVATE THE ACADEMIC AND SOCIAL DEVELOPMENT OF ITS STUDENTS BY EMPHASIZING MATH, SCIENCE, AND TECHNOLOGY FOR THE PURPOSE OF STUDENTS SETTING AND MEETING HIGHER EDUCATION 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 (2023)

Revenue Breakdown

Contributions & Grants $6,505,172

Program Service Revenue $20,230,799

Investment Income $199,339

Other Revenue $0

TOTAL REVENUE $26,935,310

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,797,255

Fundraising Expenses $0

Program Expenses $16,618,877

Other Expenses $7,717,556

TOTAL EXPENSES $21,514,811

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,935,310	$20,141,897	+0.3%
Expenses	$21,514,811	$19,484,677	+0.1%
Net Income	$5,420,499	$657,220	+7.2%

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

249

Volunteers

150

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

$157,409

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR CEM AKKUS	BOARD MEMBER	2.00	Director	$0	$0	$0
DR DAVID C AKDEMIR	BOARD MEMBER	2.00	Director	$0	$0	$0
DR RICHARD E POTTS	PRESIDENT	2.00	Officer Director	$0	$0	$0
VEDA V T CHERRY	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
DR ISMAIL FIDAN	SECRETARY	2.00	Officer Director	$0	$0	$0
PATTY FARMER	TREASURER	2.00	Officer Director	$0	$0	$0
SAMUEL BEYHAN	EXEC DIRECTOR	40.00	Officer	$123,797	$33,612	$157,409
MUGIRE AYCI	ASST. EXEC DIRECTOR	40.00	Highest	$100,987	$32,745	$133,732

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2024	$26,935,310	$21,514,811	$36,592,577	$5,420,499
2023	$20,141,897	$19,484,677	$32,096,467	$657,220
2022	$16,018,216	$14,112,435	$29,882,886	$1,905,781
2021	$13,611,845	$11,161,164	$15,946,000	$2,450,681
2021	$13,611,845	$11,161,164	$15,946,000	$2,450,681
2020	$8,414,386	$7,539,488	$14,714,187	$874,898
2020	$8,414,386	$7,539,488	$14,714,187	$874,898
2019	$7,361,107	$6,597,710	$6,747,985	$763,397

READ FOUNDATION