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This return was superseded by a later amendment.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 ContentALISON TEPPER - DIR CONTENT
- Juliana Hess - Dir ResearchJULIANA HESS - DIR RESEARCH
- Margaret Ritter - Director OfMARGARET RITTER - DIRECTOR OF
- Michael McCormickMICHAEL MCCORMICK
- Nicholas Haynes - Managing DirNICHOLAS HAYNES - MANAGING DIR
- Nicholas Overton - Dir SoftwareNICHOLAS OVERTON - DIR SOFTWARE
Listed under a different title
- Nicole CampbellNICOLE 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 BernardLEWIS W BERNARD
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 10
-
Carl W TurnipseedCARL W TURNIPSEED
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Beverly Fanger ChaseBEVERLY FANGER CHASE
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Nicole CampbellNICOLE CAMPBELL
DIRECTOR/CONSULTANT
- Total calculated
- $13,000
- From this org
- $13,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2
-
Christina ChiuCHRISTINA CHIU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jon FriedlandJON FRIEDLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa KennedyLISA KENNEDY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shannon KeteSHANNON KETE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael McCormickMICHAEL MCCORMICK
DIRECTOR (THRU 9/22)
- Total calculated
- $0
- Hours/week
- 1
-
Mita PatnaikMITA PATNAIK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas RudenstineNICHOLAS RUDENSTINE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 15
-
Cynthia VanceCYNTHIA VANCE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas Haynes - Managing DirNICHOLAS 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 OfMARGARET 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 SoftwareNICHOLAS 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 ContentALISON 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 ResearchJULIANA 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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