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← READ TO LEAD INC C/O J BERMAN DAVIS POLK & WARDWELL LLC

Form 990 for tax year 2022

Filed by READ TO LEAD INC C/O J BERMAN DAVIS POLK & WARDWELL LLC.

What the amendment changed

Compared with the return it replaced , filed 21 December 2023. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$56,692 changed to $3,755
Total expenses
$2,054,978 changed to $1,233,113
Contributions and grants received
$18,957 changed to $0
Grants paid
$0 changed to $1,215,354
Investment income
$37,735 changed to $3,755
Total assets, end of year
$1,229,358 changed to $0
Net assets or fund balances, end of year
$1,229,358 changed to $0
Program services expenses
$1,480,798 changed to $1,232,376
Management and general expenses
$356,933 changed to $349
Fundraising expenses
$217,247 changed to $388
Program service expenses (Part III)
$1,480,798 changed to $1,232,376

Listed only on the earlier return

  • Alison Tepper - Dir Content
  • Juliana Hess - Dir Research
  • Margaret Ritter - Director Of
  • Michael McCormick
  • Nicholas Haynes - Managing Dir
  • Nicholas Overton - Dir Software

Listed under a different title

  • Nicole Campbell: DIRECTOR/CONSULTANT then DIRECTOR

Totals

Total revenue
$3,755
Total expenses
$1,233,113
Contributions and grants received
$0
Grants paid
$1,215,354
Program service revenue
$0
Investment income
$3,755
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$1,232,376
Management and general expenses
$349
Fundraising expenses
$388
Program service expenses (Part III)
$1,232,376

Program services were 99.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $3,755 · excluded $3,755

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,215,354 · program services $1,215,354

  • 11g · Fees: other

    total $1,057 · program services $856 · management and general $95 · fundraising $106

  • 13 · Office expenses

    total $406 · program services $406

  • 14 · Information technology

    total $7,849 · program services $7,849

  • 16 · Occupancy

    total $2,823 · program services $2,287 · management and general $254 · fundraising $282

  • 23 · Insurance

    total $5,624 · program services $5,624

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $232,587 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $250,000 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,357 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $683,758 · end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    beginning of year $38,222 · end of year $0

  • 15 · Other assets

    beginning of year $9,434 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $979,358 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $250,000 · end of year $0

Mission and programs · 2022

Mission

THE ORGANIZATION CEASED OPERATIONS AS OF DECEMBER 31, 2022. PRIOR TO THEIR CLOSURE, READ TO LEAD HELPED STUDENTS IN HIGH-POVERTY COMMUNITIES BUILD LITERACY AND LEADERSHIP SKILLS.

  • ON FEBRUARY 23, 2023, THE ORGANIZATION APPLIED FOR APPROVAL OF A PLAN OF DISSOLUTION AND DISTRIBUTION OF ASSETS WITH THE STATE OF NEW YORK, WHICH WAS SUBSEQUENTLY APPROVED BY THE NEW YORK ATTORNEY GENERAL ON MAY 1, 2023. DURING THIS FINAL SHORT YEAR, THE ORGANIZATION COMPLETED ITS DISSOLUTION.

    Expenses $1,232,376 · Grants $1,215,354

As filed on the 2022 return.

Listed in Part VII

  • Lewis W Bernard

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Carl W Turnipseed

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Beverly Fanger Chase

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • Nicole Campbell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Christina Chiu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jon Friedland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lisa Kennedy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Shannon Kete

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mita Patnaik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Nicholas Rudenstine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    7.5

  • Cynthia Vance

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2022
Filed
21 December 2023
IRS schema version
2022v5.0
Source object
202313559349301711

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