Read 718 INC EIN 46-4080472 Form 990 (PDF) Claim this org

Read 718 INC FY2023 filing

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Provides free or low-cost one-on-one reading help to Brooklyn students in grades 1-8. For fiscal year 2023 it reported $745K in revenue, $696K in expenses, and $815K in net assets.Pt I

Founded
2013
Type
Public charity (501(c)(3)) · Education
Location
Brooklyn, NY
Website
read718.org
Filings
5 on file (2020–2023)
Revenue
$745KFY2023
Expenses
$696K
Net assets
$815K
People
16
Filings
5
Updates
0
More identity details & actions ⌄
EIN  46-4080472 Public charity (501(c)(3)) Brooklyn, NY Founded 2013
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Provides free or low-cost one-on-one reading help to Brooklyn students in grades 1-8.
Leadership
Emily Kirven · Executive Director · $62K
Money in and out
$745K revenue, $696K expenses
Bottom line
72% program efficiency
Where the money goes · FY2023
Total revenue
$745K
Pt VIII · Ln 12
Total expenses
$696K
Pt IX · Ln 25
Net assets
$815K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $49K
Where spending went · Part IX cols B–D
Program services $0.72 Management & general $0.13 Fundraising $0.16
Program efficiency
72%
of spending reaches programs
Operating runway
13.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+7%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$745K
FY2023▲ +5%
Expenses
$696K
FY2023▲ +24%
Total assets
$828K
FY2023▲ +7%
Total liabilities
$13K
FY2023▲ +51%
Total revenue
$745K
Pt VIII · Ln 12
Total expenses
$696K
Pt IX · Ln 25
Net assets
$815K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$49K
Total assetsPt X · Ln 16$828K
Program-expense ratioPt IX · col B72%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

1 program service account for $499K of program spending, described in the organization's own filed words · FY2022.
01

During the 2022-23 school year, read 718 served 210 children, providing over 8,000 hours of one-to-one and small group instruction. For each 10 week cycle, we served between 55-65 students in read 718 after school (in-person, in our two literacy centers) and between 45-55 students in read 718 remote (the online version of our core after…

$499Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRead 718 INC
EINHdr · item D46-4080472
Principal addressHdr · item CBrooklyn, NY
WebsiteHdr · item Jread718.org
Year of formationHdr · item L2013
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B99)
Ruling yearIRS BMFJun 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
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
Executive Director
$62,210Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Emily Kirven$91,846$69,270$62,210$60,677$56,923
Emily Kirven$56,708

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.

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Statement of Revenue

Part VIII
Contributions & grants$732K · 98%
Program service revenue$10K · 1%
Contributions & grants98%$732K
Program service revenue1%$10K
Investment income$1K
Other revenue$2K
Total revenueLn 12$745K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.72 Management & general $0.13 Fundraising $0.16
Program services72%$499K
Management & general13%$89K
Fundraising16%$108K
Total functional expensesLn 25$696K

Balance Sheet

Part X · end of year
CashLn 1$754K
Total assetsLn 16$828K
Total liabilitiesLn 26$13K
Total net assetsLn 32$815K
Months of cash on handcomputed13.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $754K · Operating expenses (Pt IX) $696K · Less non-cash grants $7K · Cash operating expenses/yr $688K
13.1 months
Where the money goes
Program services
Program services $499K · Total expenses $696K
72%
Management & General
Management & general $89K · Total expenses $696K
13%
Fundraising
Fundraising $108K · Total expenses $696K
16%
Cost to raise $1
Fundraising expense (3-yr avg) $100K · Solicited contributions (3-yr avg) $613K
$0.16 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $732K · Total revenue $745K
98%
Government reliance
Government grants — · Total revenue $745K
Earned-income share
Program service revenue $10K · Total revenue $745K
1%
Investment reliance
Investment income $1K · Total revenue $745K
+0.1%
Program self-sufficiency
Program service revenue $10K · Total expenses $696K
1%
Growth & trend
Revenue growth (YoY)
This year $745K · Prior year $708K
+5%
Net-asset trend (YoY)
End of year $815K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $745K · Expenses $696K
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $828K
Net-asset ratio
Net assets $815K · Total assets $828K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $828K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Emily Kirven · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $62K · Total expenses $696K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $513K · Total expenses $696K
74%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 72%
Overhead ratio 13%
Fundraising cost ratio 15%
Revenue growth 5%
Legal fee ratio 0.07%
Accounting fee ratio 2%

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 · FY2025
Total grants receivedfrom 1 funder$75K

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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
FY2024$913K revenue · ⤓ 990 PDF
FY2023$745K revenue · viewing · ⤓ 990 PDF
FY2022$708K revenue · ⤓ 990 PDF
FY2021$515K revenue · ⤓ 990 PDF
FY2020$376K 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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