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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.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , 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
$56,692
Total expenses
$2,054,978
Contributions and grants received
$18,957
Grants paid
$0
Program service revenue
$0
Investment income
$37,735
Other revenue
$0
Total assets, end of year
$1,229,358
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,229,358
Program services expenses (Part IX)
$1,480,798
Management and general expenses
$356,933
Fundraising expenses
$217,247
Program service expenses (Part III)
$1,480,798

Program services were 72.1% 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.

  • 1f · All other contributions, gifts and grants

    $18,957

  • 3 · Investment income

    total $37,735 · excluded $37,735

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $13,000 · management and general $13,000

  • 7 · Other salaries and wages

    total $535,266 · program services $415,025 · management and general $61,391 · fundraising $58,850

  • 8 · Pension plan contributions

    total $9,593 · program services $7,438 · management and general $1,100 · fundraising $1,055

  • 9 · Other employee benefits

    total $36,641 · program services $28,410 · management and general $4,203 · fundraising $4,028

  • 10 · Payroll taxes

    total $42,384 · program services $32,863 · management and general $4,861 · fundraising $4,660

  • 11c · Fees: accounting

    total $108,784 · management and general $108,784

  • 11e · Fees: professional fundraising services

    total $34,910 · fundraising $34,910

  • 11g · Fees: other

    total $416,111 · program services $286,560 · management and general $89,161 · fundraising $40,390

  • 12 · Advertising and promotion

    total $29,974 · program services $29,974

  • 13 · Office expenses

    total $79,303 · program services $78,066 · management and general $1,092 · fundraising $145

  • 14 · Information technology

    total $53,341 · program services $39,472 · management and general $8,535 · fundraising $5,334

  • 16 · Occupancy

    total $667,511 · program services $539,949 · management and general $62,346 · fundraising $65,216

  • 17 · Travel

    total $30 · program services $23 · management and general $3 · fundraising $4

  • 22 · Depreciation, depletion and amortization

    total $6,107 · program services $4,940 · management and general $570 · fundraising $597

  • 23 · Insurance

    total $20,099 · program services $16,258 · management and general $1,877 · fundraising $1,964

  • 24a · Other expenses: OTHER EXPENSES

    total $1,924 · program services $1,820 · management and general $10 · fundraising $94

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $632,447 · end of year $232,587

  • 2 · Savings and temporary cash investments

    beginning of year $395,183 · end of year $250,000

  • 3 · Pledges and grants receivable

    beginning of year $25,050 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,689 · end of year $15,357

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $45,335

  • 11 · Investments: publicly traded securities

    beginning of year $2,700,459 · end of year $683,758

  • 14 · Intangible assets

    beginning of year $41,038 · end of year $38,222

  • 15 · Other assets

    beginning of year $11,184 · end of year $9,434

  • 17 · Accounts payable and accrued expenses

    beginning of year $610,237

  • 25 · Other liabilities

    beginning of year $21,460 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,929,688 · end of year $979,358

  • 28 · Net assets with donor restrictions

    beginning of year $340,000 · end of year $250,000

Mission and programs · 2022

Mission

TO HELP STUDENTS IN HIGH-POVERTY COMMUNITIES DEVELOP LITERACY AND LEADERSHIP SKILLS. BY CREATING DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD AND SUPPORTING EDUCATORS IN CREATING STUDENT-CENTERED CLASSROOMS, WE INVITE STUDENTS TO TAKE CHARGE OF THEIR LEARNING. READ TO LEAD, INC. BELIEVES THAT WHEN STUDENTS TAKE ON THE LEADERSHIP ROLE IN OUR LEARNING GAMES, THEY READ MORE CLOSELY, THINK CRITICALLY, AND BECOME BETTER PROBLEM SOLVERS. READ TO LEAD, INC.'S RESEARCH SHOWS THAT STUDENTS-ESPECIALLY THOSE STRUGGLING WITH LITERACY IMPROVE IN THEIR READING AND WRITING ACHIEVEMENT, FIND MOTIVATION IN BEING THE LEADER, AND SEE THE TRUE CONNECTION BETWEEN SCHOOL AND THEIR FUTURES.

Activities or mission (Part I)

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.

  • DIRECT SUPPORT TO PARTNERS: READ TO LEAD, INC. PARTNERS WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS IN HIGH-POVERTY COMMUNITIES ACROSS THE UNITED STATES TO PROVIDE TURN-KEY CURRICULUM AND RESOURCES, ALONG WITH UNIQUE WORKPLACE LITERACY LEARNING GAME EXPERIENCES, TO SUPPORT SCHOOL DAY AND OUT-OF-SCHOOL TIME LEARNING AND ENGAGEMENT.IN ADDITION, TO IMPROVE STUDENT OUTCOME READ TO LEAD, INC. OFFERS EDUCATORS IN-PERSON AND VIRTUAL COACHING SUPPORT AND TRANSFORMS THE WAY EDUCATORS USE PROJECT-BASED AND PERSONALIZED LEARNING TOOLS. SOME OF READ TO LEAD, INC.'S SCHOOL PARTNER SITES ALSO SERVE AS OUR "LEARNING LABS," INFORMING OUR DIGITAL PRODUCTION AND ENSURING THAT WE ARE ALWAYS DESIGNING FROM REAL-LIFE EXPERIENCE.

    Expenses $663,807

  • CURRICULUM & RESOURCES FOR EDUCATORS: READ TO LEAD, INC. CREATES DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD THAT FOSTER STUDENTS' LITERACY AND LEADERSHIP SKILLS AND CONNECT SCHOOL TO LIFE IN THE WORKPLACE. OUR SUITE OF LITERACY LEARNING GAMES, THE READ TO LEAD SERIES, HELPS STUDENTS DEVELOP ADVANCED LITERACY SKILLS, INCREASES CAREER READINESS, AND BUILDS 21ST CENTURY SKILLS SUCH AS PERSISTENCE AND DECISION-MAKING. THE LEARNING GAMES, CURRICULUM, ALONG WITH PROFESSIONAL DEVELOPMENT RESOURCES FOR EDUCATORS ARE FREELY ACCESSIBLE ONLINE FOR BOTH SCHOOL DAY AND OUT-OF-SCHOOL TIME USE.THROUGH ITS DIGITAL PLATFORM, READ TO LEAD, INC. REACHES EDUCATORS AND STUDENTS NATIONWIDE. ANY EDUCATOR CAN REGISTER FOR FREE AND HAVE ACCESS TO READ TO LEAD, INC.'S LEARNING GAMES AND CURRICULUM.

    Expenses $611,805

  • RESEARCH AND ASSESSMENT: READ TO LEAD, INC. CONDUCTS RESEARCH TO ASSESS THE IMPACT OF ITS PROGRAMS ON STUDENTS AND TO PROVIDE REGULAR FEEDBACK THAT ENABLES CONTINUOUS IMPROVEMENT. BOTH INTERNAL AND EXTERNAL EVALUATIONS HAVE CONSISTENTLY SHOWN THAT OUR PROGRAMS EFFECTIVELY IMPROVE STUDENTS' LITERACY, READING ATTITUDES AND BEHAVIORS, 21ST CENTURY SKILLS, AND COLLEGE - AND CAREER-READINESS.

    Expenses $205,186

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lewis W Bernard

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    10
  • Carl W Turnipseed

    TREASURER

    Total calculated
    $0
    Hours/week
    2
  • Beverly Fanger Chase

    SECRETARY

    Total calculated
    $0
    Hours/week
    3
  • Nicole Campbell

    DIRECTOR/CONSULTANT

    Total calculated
    $13,000
    From this org
    $13,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2
  • Christina Chiu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Jon Friedland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Lisa Kennedy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Shannon Kete

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Michael McCormick

    DIRECTOR (THRU 9/22)

    Total calculated
    $0
    Hours/week
    1
  • Mita Patnaik

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Nicholas Rudenstine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    15
  • Cynthia Vance

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1
  • Nicholas Haynes - Managing Dir

    DEVELOPMENT (THRU 8/22)

    Total calculated
    $123,162
    From this org
    $110,358
    From related orgs
    $0
    Other
    $12,804
    Hours/week
    40
  • Margaret Ritter - Director Of

    PARTNER SITES (THRU 12/22)

    Total calculated
    $147,771
    From this org
    $130,297
    From related orgs
    $0
    Other
    $17,474
    Hours/week
    40
  • Nicholas Overton - Dir Software

    ENGINEERING (THRU 12/22)

    Total calculated
    $172,260
    From this org
    $155,130
    From related orgs
    $0
    Other
    $17,130
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,130
    Bonus
    $0
    Other
    $0
    Deferred
    $5,931
    Nontaxable benefits
    $11,199
    Filer's total
    $172,260
  • Alison Tepper - Dir Content

    CURRICULUM (THRU 11/22)

    Total calculated
    $142,986
    From this org
    $125,200
    From related orgs
    $0
    Other
    $17,786
    Hours/week
    40
  • Juliana Hess - Dir Research

    LEARNING (THRU 12/22)

    Total calculated
    $163,705
    From this org
    $145,038
    From related orgs
    $0
    Other
    $18,667
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,038
    Bonus
    $0
    Other
    $0
    Deferred
    $6,302
    Nontaxable benefits
    $12,365
    Filer's total
    $163,705

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
21 December 2023
IRS schema version
2022v5.0
Source object
202313559349301606

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