Read and Feed EIN 20-3246207

Read and Feed

EIN  20-3246207 Public charity (501(c)(3)) Cary, NC
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Size
$100K–1M
What they do
Improves reading skills and provides meals for needy elementary students.
Leadership
Carmita Bass · Director
Money in and out
$628K revenue, $469K expenses
Bottom line
75% program efficiency

Improves reading skills and provides meals for needy elementary students. For fiscal year 2023 it reported $628K in revenue, $469K in expenses, and $936K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$628K
Pt VIII · Ln 12
Total expenses
$469K
Pt IX · Ln 25
Net assets
$936K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $159K
Where spending went · Part IX cols B–D
Program services $0.75 Management & general $0.20 Fundraising $0.05
Program efficiency
75%
of spending reaches programs▲ +4% vs prior filing year
Operating runway
21.7mo
months of highly liquid reserves at operating expense rate▲ +29% vs prior filing year
Surplus margin
+25%
revenue over expenses, this year▼ -55% vs prior filing year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$628K
FY2023▼ -42%
Expenses
$469K
FY2023▼ -2%
Total assets
$989K
FY2023▼ -20%
Total liabilities
$53K
FY2023▲ +297%
Total revenue
$628K
Pt VIII · Ln 12
Total expenses
$469K
Pt IX · Ln 25
Net assets
$936K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$159K
Total assetsPt X · Ln 16$989K
Program-expense ratioPt IX · col B75%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

1 program service account for $352K of program spending, described in the organization's own filed words · FY2022.
01

With three mobile classrooms and dozens of partnerships with WCPSS, other nonprofit and community organizations, read and feed provided high impact tutoring for 355 children during the academic year and 1,188 students with large scale book distributions across summer sites to help reduce summer learning loss.

$352Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRead and Feed
EINHdr · item D20-3246207
Principal addressHdr · item CCary, NC
WebsiteHdr · item Jreadandfeed.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20)
Ruling yearIRS BMFApr 2006

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
2nd Vice Pre
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Sherry Overton Shudra’s $82K as Executive Director is at the 73rd percentile of top reported officer pay among 2165 $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 · 2 named individuals · Part VII

NameFY2022FY2021
Sherry Overton Shudra$81,875$5,769
Katherine Mullan$60,789

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 Read and Feed executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$619K · 99%
Investment income$9K · 1%
Contributions & grants99%$619K
Investment income1%$9K
Other revenue$5
Total revenueLn 12$628K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.75 Management & general $0.20 Fundraising $0.05
Program services75%$352K
Management & general20%$95K
Fundraising5%$22K
Total functional expensesLn 25$469K

Balance Sheet

Part X · end of year
CashLn 1$791K
Total assetsLn 16$989K
Total liabilitiesLn 26$53K
Total net assetsLn 32$936K
Months of cash on handcomputed20.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $791K · Operating expenses (Pt IX) $469K · Less non-cash grants $31K · Cash operating expenses/yr $438K
21.7 months
Where the money goes
Program services
Program services $352K · Total expenses $469K
75%
Management & General
Management & general $95K · Total expenses $469K
20%
Fundraising
Fundraising $22K · Total expenses $469K
5%
Cost to raise $1
Fundraising expense (3-yr avg) $47K · Solicited contributions (3-yr avg) $595K
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $619K · Total revenue $628K
99%
Government reliance
Government grants — · Total revenue $628K
Earned-income share
Program service revenue $0 · Total revenue $628K
0%
Investment reliance
Investment income $9K · Total revenue $628K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $469K
0%
Growth & trend
Revenue growth (YoY)
This year $628K · Prior year $1.1M
-42%
Net-asset trend (YoY)
End of year $936K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $628K · Expenses $469K
+25%
Liabilities-to-Assets
Total liabilities — · Total assets $989K
Net-asset ratio
Net assets $936K · Total assets $989K
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $989K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Carmita Bass · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $469K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $264K · Total expenses $469K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 75%
Overhead ratio 20%
Fundraising cost ratio 3%
Revenue growth -42%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 7 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$628K revenue · viewing · ⤓ 990 PDF
FY2022$1.1M revenue · ⤓ 990 PDF
FY2021$581K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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