Readdi INC EIN 88-3812342 Form 990 (PDF) Claim this org

Readdi INC FY2023 filing

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Develops antiviral drugs to prevent global viral catastrophes. For fiscal year 2023 it reported $801K in revenue, $141K in expenses, and $660K in net assets.Pt I

Type
Public charity (501(c)(3)) · Medical Research
Location
Durham, NC
Website
readdi.org
Filings
3 on file (2023–2023)
Revenue
$801KFY2023
Expenses
$141K
Net assets
$660K
People
12
Filings
3
Updates
0
More identity details & actions ⌄
EIN  88-3812342 Public charity (501(c)(3)) Durham, NC
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Develops antiviral drugs to prevent global viral catastrophes.
Leadership
John Bamforth · Board Member
Money in and out
$801K revenue, $141K expenses
Bottom line
35% program efficiency
Where the money goes · FY2023
Total revenue
$801K
Pt VIII · Ln 12
Total expenses
$141K
Pt IX · Ln 25
Net assets
$660K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $660K
Where spending went · Part IX cols B–D
Program services $0.35 Management & general $0.15 Fundraising $0.50
Program efficiency
35%
of spending reaches programs
Operating runway
108.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+82%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$801K
FY2023
Expenses
$141K
FY2023
Total assets
$668K
FY2023
Total liabilities
$8K
FY2023
Total revenue
$801K
Pt VIII · Ln 12
Total expenses
$141K
Pt IX · Ln 25
Net assets
$660K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$660K
Total assetsPt X · Ln 16$668K
Program-expense ratioPt IX · col B35%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

1 program service account for $49K of program spending, described in the organization's own filed words · FY2022.
01

- established working relationships with international pandemic preparedness secretariat to design drug discovery and development pillar of the 100 days mission therapeutics roadmap- executed therapeutics database project to illustrate global antiviral landscape first of its kind in the industry- launched comprehensive READDI.ORG website

$49Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CReaddi INC
EINHdr · item D88-3812342
Principal addressHdr · item CDurham, NC
WebsiteHdr · item Jreaddi.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMedical Research (H05)
Ruling yearIRS BMFFeb 2023

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b6
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 15aNo
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
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

James Rosen’s $367K as CEO is at the 99th percentile of top reported officer pay among 322 $100K–1M medical research 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

NameFY2025FY2024
James Rosen$366,650$266,174
William Fletcher Fairey$285,352$100,928

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$792K · 99%
Investment income$9K · 1%
Contributions & grants99%$792K
Investment income1%$9K
Total revenueLn 12$801K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.35 Management & general $0.15 Fundraising $0.50
Program services35%$49K
Management & general15%$21K
Fundraising50%$70K
Total functional expensesLn 25$141K

Balance Sheet

Part X · end of year
CashLn 1$668K
Total assetsLn 16$668K
Total liabilitiesLn 26$8K
Total net assetsLn 32$660K
Months of cash on handcomputed56.9

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $668K · Operating expenses (Pt IX) $141K · Less non-cash grants $67K · Cash operating expenses/yr $74K
108.1 months
Where the money goes
Program services
Program services $49K · Total expenses $141K
35%
Management & General
Management & general $21K · Total expenses $141K
15%
Fundraising
Fundraising $70K · Total expenses $141K
50%
Cost to raise $1
Fundraising expense $70K · Solicited contributions $792K
$0.09 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $792K · Total revenue $801K
99%
Government reliance
Government grants — · Total revenue $801K
Earned-income share
Program service revenue $0 · Total revenue $801K
0%
Investment reliance
Investment income $9K · Total revenue $801K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $141K
0%
Growth & trend
Revenue growth (YoY)
This year $801K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $660K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $801K · Expenses $141K
+82%
Liabilities-to-Assets
Total liabilities — · Total assets $668K
Net-asset ratio
Net assets $660K · Total assets $668K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $668K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual John Bamforth · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $141K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $141K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 35%
Overhead ratio 15%
Fundraising cost ratio 9%

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
Total grants receivedfrom 2 funders$530K

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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
FY2025 (Latest)$624K revenue · ⤓ 990 PDF
FY2024$1.5M revenue · ⤓ 990 PDF
FY2023$801K revenue · viewing · ⤓ 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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