Reading Team INC FY2023 filing

Tax-deductible

New York, NY501(c)(3)Human ServicesEIN 13-4125884Revenue $1.1M in FY2023

On file with the IRSreadingteam.org10 West 135th St, 10037-2602 · New York, NYTax-exempt since Aug 2000Publicly supported charity — 170(b)(1)(A)(vi)

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The foundation conducts early literacy programs for young children who are at high risk of Reading failure to become strong and enthusiastic readers, writers, listeners, and speakers and to develop the skills, habits, and behaviors that will support their success in school and in life.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $35K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$410K
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+51% vs prior year
Spent
$860K
To programs
79%
Net assets
$703K
By yearFY2021–FY2025
Revenue
$1.1M
FY2023▲ +51%
Tap a bar for its year
Revenue by fiscal year
FY2021$811K
FY2022$741K
FY2023$1.1M
FY2024$603K
FY2025$704K
Expenses
$860K
FY2023▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2021$707K
FY2022$781K
FY2023$860K
FY2024$926K
FY2025$878K
Net assets
$703K
FY2023▲ +55%
Tap a bar for its year
Net assets by fiscal year
FY2021$492K
FY2022$453K
FY2023$703K
FY2024$380K
FY2025$207K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $683K Management & general 9% · $80K Fundraising 11% · $97K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A

Charon Darris’s $145K as Executive Di is at the 97th percentile of top reported officer pay among 2167 $100K–1M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024
Charon Darris$145,000$70,083

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Reading Team INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Teaches young children at risk of reading failure to become strong, enthusiastic readers and communicators.

Provided by the organization

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1 program · $683K · in their own filed words · FY2022
01

The reading team preschool program is an intensive and multifaceted early literacy intervention that serves children from neighborhood day care centers and head start programs. This program enables the children we serve to develop the skills, knowledge, and attitudes that are developmental precursors to reading and writing.

$683Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$12K
Money outPt IX
$860K
Ln 25
Programscol B$683K
Managementcol C$80K
Fundraisingcol D$97K
Owns and owesPt X
$703K
net assets · Ln 32
Cash and savingsLn 1–2$171K
Total assetsLn 16$1.1M
LiabilitiesLn 26$410K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$12K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$171K
Cash and savings togetherLn 1–2$171K
InvestmentsLn 11–13$510K
Other assetsLn 15$432K
Total assetsLn 16$1.1M
LiabilitiesLn 26$410K
Net assetsLn 32$703K
OperationsPt I, VI
EmployeesI 518
VolunteersI 619
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$446K$171K
InvestmentsLn 11–13$510K
Total assetsLn 16$1.0M$1.1M
LiabilitiesLn 26$593K$410K
Net assetsLn 32$447K$703K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$100K$80K$8K$12K
Other salaries and wagesLn 7$343K$275K$27K$41K
Other employee benefitsLn 9$19K$15K$2K$2K
Payroll taxesLn 10$55K$44K$4K$7K
Management feesLn 11a$55K$45K$10K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$9K$9K
Office expensesLn 13$11K$8K$467$2K
OccupancyLn 16$202K$161K$16K$24K
TravelLn 17$1K$1K
InsuranceLn 23$23K$18K$6K
Other expenses (24a–d)Ln 24$35K$35K
Total functional expensesLn 25$860K$683K$80K$97K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $704K$878K−$173K$207K 990 PDF
FY2024 $603K$926K−$323K$380K 990 PDF
FY2023 Viewing $1.1M$860K$257K$703K 990 PDF
FY2022 $741K$781K−$39K$453K 990 PDF
FY2021 $811K$707K$103K$492K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $1,116,899 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $675,344$1,104,639
I-9 Program service revenue$0
I-10 Investment incomePrior year $99$12,260
I-11 Other revenuePrior year $65,950$0
I-12 Total revenuePrior year $741,393$1,116,899
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $494,187$517,614
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $286,324$342,630
I-18 Total expensesPrior year $780,511$860,244
I-19 Revenue less expensesPrior year −$39,118$256,655
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,116,899 across 4 lines filed
VIII-1f All other contributions, gifts and grants$1,104,639
VIII-1h Total contributions, gifts and grants$1,104,639
VIII-3 Investment incomeRelated to mission $12,260$12,260
VIII-12 Total revenueRelated to mission $12,260$1,116,899
Part IX · Statement of functional expenses $860,244 across 12 lines filed
IX-6 Pay of disqualified personsPrograms $79,842 · Management $7,984 · Fundraising $11,976$99,802
IX-7 Other salaries and wagesPrograms $274,771 · Management $27,476 · Fundraising $41,217$343,464
IX-9 Other employee benefitsPrograms $15,231 · Management $1,523 · Fundraising $2,285$19,039
IX-10 Payroll taxesPrograms $44,247 · Management $4,425 · Fundraising $6,637$55,309
IX-11a Management feesPrograms $44,996 · Management $10,153$55,149
IX-11c Accounting feesManagement $6,500$6,500
IX-11g Other fees for servicesFundraising $8,905$8,905
IX-13 Office expensesPrograms $8,453 · Management $467 · Fundraising $1,648$10,568
IX-16 OccupancyPrograms $161,375 · Management $16,137 · Fundraising $24,207$201,719
IX-17 TravelPrograms $1,012$1,012
IX-23 InsurancePrograms $17,808 · Management $5,505$23,313
IX-24 Other expenses (24a–d)Programs $35,464$35,464
IX-25 Total functional expensesPrograms $683,199 · Management $80,170 · Fundraising $96,875$860,244
Part X · Balance sheet $1,113,101 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $445,599$170,955
X-11 Publicly traded securities$509,814
X-15 Other assetsStart of year $593,817$432,332
X-16 Total assetsStart of year $1,039,416$1,113,101
X-17 Accounts payable and accrued expensesStart of year $10,800$17,818
X-25 Other liabilitiesStart of year $581,792$391,804
X-26 Total liabilitiesStart of year $592,592$409,622
X-27 Net assets without donor restrictionsStart of year $336,824$703,479
X-32 Total net assets or fund balancesStart of year $446,824$703,479
X-33 Total liabilities and net assetsStart of year $1,039,416$1,113,101
Part XI · Reconciliation of net assets $703,479 net assets at year end
XI-1 Total revenue$1,116,899
XI-2 Total expenses$860,244
XI-3 Revenue less expenses$256,655
XI-4 Net assets at start of year$446,824
XI-10 Net assets at end of year$703,479

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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