Read USA INC

Tax-deductible

Atlantic Bch, FL501(c)(3)EducationEIN 47-4729513Revenue $4.6M in FY2024

On file with the IRSreadusainc.comPo Box 331067, 32233-1067 · Atlantic Bch, FLTax-exempt since Jun 2016Publicly supported charity — 170(b)(1)(A)(vi)

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Based on research, Read USA, INC. Is targeting breaking the cycle of poverty by equipping literacy resources to children of low income homes. Research shows that two-thirds of low income homes have zero books and two-thirds of fourth grade children who struggle to Read will end up in jail or on welfare. Read USA, INC. Is creating awareness and action towards this issue and turning the page on these statistics in a positive way. The organization provides book choice and ownership for children in under- resourced communities through book fairs and book events. The organization also works to improve grade-level reading proficiency by pairing high school teen tutors with elementary school students struggling to Read, providing daily, intensive one- to-one multisensory tutoring focused on oral reading fluency, phonics, phonemic awareness, vocabulary, reading comprehension skills, and writing. The organization offers multicultural literacy programming that includes virtual "Read alouds" from

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Run by 100 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $158K a year · 5% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$171K
to officers and key staff · 3% of spending
Top officer’s pay higher than 74% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
9
named funders · $210K
Looks good: 9 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.5M
92% of total assets
Concern: liabilities are 92% of assets; over 80%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.6M
+16% vs prior year
Spent
$5.6M
To programs
75%
Net assets
$134K
By yearFY2020–FY2024
Revenue
$4.6M
FY2024▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$489K
FY2021$2.6M
FY2023$3.9M
FY2024$4.6M
Expenses
$5.6M
FY2024▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$485K
FY2021$1.5M
FY2023$4.7M
FY2024$5.6M
Net assets
$134K
FY2024▼ -88%
Tap a bar for its year
Net assets by fiscal year
FY2020$13K
FY2021$1.1M
FY2023$1.1M
FY2024$134K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2016.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $4.1M Management & general 23% · $1.3M Fundraising 2% · $132K

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; $171K paid to officers and key staff.

Part VII, Section A · reportable compensation
$170,508Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Robert H Kelly JR’s $171K as CEO is at the 74th percentile of top reported officer pay among 3395 $1–10M education 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2021
Robert H Kelly JR$170,508$170,580—
Robert Kelly——$93,001
Terrance Freeman——$88,465

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 USA 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides books and tutoring to low-income children to improve reading skills and break the cycle of poverty.

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Provided by the organization

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3 programs · $4.1M · in their own filed words · FY2024
01

Read usa expanded its literacy tutoring intervention program, employing, training, and supervising over 375 teens and hiring over 100 licensed educators within the school district. These teen tutors received training on the curriculum materials and professional work environment expectations and skills.

$3.4Mprogram expense
02

Last year, read usa served over 50,000 pre-school age and elementary school students from over 100 elementary schools that provided children with over 100,000 brand new, age-appropriate books they selected for free to build their home libraries.

$694Kprogram expense
03

Read usa held a community event, "peace in the pages," raising awareness for literacy and its multi-faceted programming by honoring seven community leaders who exemplify the relationship between literacy and peace, prosperity, and freedom.

$79Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 9 funders →
Grants paid · 2 grants · $10K · 2020–2021

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.6M
Ln 12
Fees for servicesLn 2g$3.4M
Gifts and grantsLn 1h$1.2M
Money outPt IX
$5.6M
Ln 25
Programscol B$4.1M
Managementcol C$1.3M
Fundraisingcol D$132K
Owns and owesPt X
$134K
net assets · Ln 32
Cash and savingsLn 1–2$86K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Fees for servicesLn 2g$3.4M
Total revenueLn 12$4.6M
Assets in detailPt X, end of year
CashLn 1$86K
Cash and savings togetherLn 1–2$86K
Land, buildings, equipmentLn 10c$227K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.5M
Net assetsLn 32$134K
OperationsPt I, VI
EmployeesI 52
VolunteersI 6100
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3K$86K
Land, buildings, equipmentLn 10c$341K$227K
Total assetsLn 16$2.3M$1.6M
LiabilitiesLn 26$1.2M$1.5M
Net assetsLn 32$1.1M$134K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$175K$83K$83K$9K
Other salaries and wagesLn 7$1.7M$829K$829K$87K
Pension plan contributionsLn 8$18K$8K$8K$892
Other employee benefitsLn 9$120K$57K$57K$6K
Payroll taxesLn 10$176K$84K$84K$9K
Accounting feesLn 11c$81K$41K$41K
Other fees for servicesLn 11g$133K$128K$5K$507
Advertising and promotionLn 12$79K$76K$3K
Office expensesLn 13$35K$17K$18K
Information technologyLn 14$167K$84K$84K
OccupancyLn 16$65K$37K$28K
TravelLn 17$12K$12K$298
InterestLn 20$16K$3K$13K
Depreciation, depletion and amortizationLn 22$114K$114K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$2.6M$2.6M$24K$20K
All other expensesLn 24e$14K$9K$5K
Total functional expensesLn 25$5.6M$4.1M$1.3M$132K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.6M$5.6M−$966K$134K 990 PDF
FY2023 $3.9M$4.7M−$755K$1.1M 990 PDF
FY2022 Not on file
FY2021 $2.6M$1.5M$1.1M$1.1M 990 PDF
FY2020 $489K$485K$4K$13K 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 FY2024 990 (6 parts)
Part I · Summary $4,593,735 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,272,368$1,212,437
I-9 Program service revenuePrior year $2,674,743$3,381,298
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $3,947,111$4,593,735
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,621,081$2,234,261
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,081,053$3,325,913
I-18 Total expensesPrior year $4,702,134$5,560,174
I-19 Revenue less expensesPrior year −$755,023−$966,439
Part VI · Governance 14 of 14 board members independent, 3 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $4,593,735 across 5 lines filed
VIII-1a Federated campaigns$187,500
VIII-1f All other contributions, gifts and grants$1,024,937
VIII-1h Total contributions, gifts and grants$1,212,437
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,381,298$3,381,298
VIII-12 Total revenueRelated to mission $3,381,298$4,593,735
Part IX · Statement of functional expenses $5,560,174 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $83,308 · Management $83,308 · Fundraising $8,769$175,385
IX-7 Other salaries and wagesPrograms $828,625 · Management $828,625 · Fundraising $87,224$1,744,474
IX-8 Pension plan contributionsPrograms $8,477 · Management $8,477 · Fundraising $892$17,846
IX-9 Other employee benefitsPrograms $57,153 · Management $57,153 · Fundraising $6,016$120,322
IX-10 Payroll taxesPrograms $83,711 · Management $83,711 · Fundraising $8,812$176,234
IX-11c Accounting feesPrograms $40,660 · Management $40,661$81,321
IX-11g Other fees for servicesPrograms $127,620 · Management $4,817 · Fundraising $507$132,944
IX-12 Advertising and promotionPrograms $76,476 · Management $2,818$79,294
IX-13 Office expensesPrograms $16,877 · Management $18,431$35,308
IX-14 Information technologyPrograms $83,655 · Management $83,656$167,311
IX-16 OccupancyPrograms $37,057 · Management $27,512$64,569
IX-17 TravelPrograms $11,584 · Management $298$11,882
IX-20 InterestPrograms $2,983 · Management $12,591$15,574
IX-22 Depreciation, depletion and amortizationPrograms $113,714$113,714
IX-23 InsuranceManagement $1,943$1,943
IX-24 Other expenses (24a–d)Programs $2,564,639 · Management $23,886 · Fundraising $19,807$2,608,332
IX-24e All other expensesPrograms $9,176 · Management $4,545$13,721
IX-25 Total functional expensesPrograms $4,145,715 · Management $1,282,432 · Fundraising $132,027$5,560,174
Part X · Balance sheet $1,622,148 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $2,657$86,423
X-3 Pledges and grants receivableStart of year $1,979,623$1,308,594
X-10c Land, buildings and equipment, netStart of year $340,844$227,131
X-16 Total assetsStart of year $2,323,124$1,622,148
X-17 Accounts payable and accrued expensesStart of year $789,133$1,213,625
X-26 Total liabilitiesStart of year $1,223,062$1,488,525
X-27 Net assets without donor restrictionsStart of year −$453,488−$942,122
X-28 Net assets with donor restrictionsStart of year $1,553,550$1,075,745
X-32 Total net assets or fund balancesStart of year $1,100,062$133,623
X-33 Total liabilities and net assetsStart of year $2,323,124$1,622,148
Part XI · Reconciliation of net assets $133,623 net assets at year end
XI-1 Total revenue$4,593,735
XI-2 Total expenses$5,560,174
XI-3 Revenue less expenses−$966,439
XI-4 Net assets at start of year$1,100,062
XI-10 Net assets at end of year$133,623

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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