READ ALLIANCE INC: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- READ ALLIANCE INC (EIN 13-4091062)
- Tax period
- 2019-09-01 to 2020-08-31
- Filed
- 2021-02-06
- IRS object ID
- 202130379349300118
- Schema version
- 2019v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-02-06T13:35:57-06:00 | ReturnTs |
| Tax Period End | 2020-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | A GARY AARONSON CPA PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 42 WEST 38TH STREET SUITE 1003 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100180060 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 134091062 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | READ ALLIANCE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | READ | BusinessNameControlTxt |
| Phone | 6468676101 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 160 BROADWAY 8TH FL EAST BUILDING | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10038 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIELLE GUINDO | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 6468676101 | PhoneNum |
| Signature | 2020-01-27 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | A GARY AARONSON | PreparerPersonNm |
| PTIN | P01327657 | PTIN |
| Phone | 2126845770 | PhoneNum |
| Preparation | 2021-02-06 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DANIELLE GUINDO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 160 BROADWAY 8TH FL EAST BUILDING | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10038 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,835,874 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.READALLIANCE.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1999 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | WORK TO ACCELERATE THE EDUCATIONAL TRAJECTORY OF EARLY ELEMENTARY STUDENTS THROUGH THE POWER OF TEENS WHO PROVIDE ONE-TO-ONE LITERACY TUTORING IN UNDER-RESOURCED COMMUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 19 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 19 | VotingMembersIndependentCnt |
| Total Employee | 853 | TotalEmployeeCnt |
| Total Volunteers | 30 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $2,227,383 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,829,767 | CYContributionsGrantsAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $5,915 | PYInvestmentIncomeAmt |
| CY Investment Income | $6,107 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$23,423 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $2,209,875 | PYTotalRevenueAmt |
| CY Total Revenue | $1,835,874 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,533,410 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,597,980 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $290,388 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $709,701 | PYOtherExpensesAmt |
| CY Other Expenses | $656,184 | CYOtherExpensesAmt |
| PY Total Expenses | $2,243,111 | PYTotalExpensesAmt |
| CY Total Expenses | $2,254,164 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$33,236 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$418,290 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,576,057 | TotalAssetsBOYAmt |
| Total Assets EOY | $2,122,085 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $259,650 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,223,968 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,316,407 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $898,117 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | READ ALLIANCE, INC (READ) WORKS TO ACCELERATE THE EDUCATIONAL TRAJECTORY OF EARLY ELEMENTARY STUDENTS THROUGH THE POWER OF TEENS WHO PROVIDE ONE-TO-ONE LITERACY TUTORING IN UNDER-RESOURCED COMMUNITIES. READ IMPACTS TWO POPULATIONS SIMULTANEOUSLY, AND THROUGH A HIGHLY STRUCTURED, RESEARCH-BASED CURRICULUM, STUDENTS AVERAGE A FULL YEAR'S GROWTH IN READING AND THEIR TEEN TUTORS DEVELOP COLLEGE, CAREER, AND LIFE SKILLS. EARLY INTERVENTION PREVENTS READING DIFFICULTIES FROM BECOMING BARRIERS TO FUTURE SUCCESS, WHILE PROVIDING TEENS WITH THE OPPORTUNITY TO HAVE A POSITIVE DIRECT IMPACT ON THE LIVES OF CHILDREN IN THEIR COMMUNITIES THROUGH MEANINGFUL SERVICE AND JOBS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $757,115 | ExpenseAmt |
| Desc | TEEN LEADERSHIP PROGRAM- YOUNG PEOPLE EMPLOYED BY READ'S TEEN LEADERSHIP PROGRAM RECEIVE LEADERSHIP DEVELOPMENT, JOB READINESS, PROFESSIONAL SKILLS, AND ECONOMIC EMPOWERMENT PROGRAMMING. THROUGH THEIR INVOLVEMENT, TEEN LEADERS ARE ENGAGED IN MEANINGFUL AFTER SCHOOL EMPLOYMENT FOR 90 MINUTES A DAY, FOR A MINIMUM OF THREE DAYS A WEEK, AT A NEARBY ELEMENTARY SCHOOL. TEEN LEADERS ARE PAID MINIMUM WAGE AND ARE NOT ONLY TRAINED TO DELIVER THE RESEARCH-BASED READING CURRICULUM ONE-ON-ONE TO YOUNG CHILDREN, BUT THEY ARE ALSO TRAINED IN BEHAVIOR MANAGEMENT AND DATA COLLECTION THAT IS CRUCIAL TO PROGRAM IMPLEMENTATION, REFLECTION AND ANALYSIS. TEEN LEADERS HAVE THE OPPORTUNITY TO ADVANCE TO SENIOR TEEN LEADER, A POSITION WITH ADDITIONAL RESPONSIBILITY PROVIDING SUPPORT AND GUIDANCE FOR THE TEEN LEADERS, PEER- TO-PEER DEVELOPMENT, AND SUPERVISION. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $987,293 | ExpenseAmt |
| Desc | EARLY LITERACY PROGRAM- OUR UNIQUE EARLY LITERACY PROGRAM PROVIDES 90 MINUTES OF PROGRAMMING A DAY IN TWO PARTS: 1) A 45-MINUTE SESSION OF ONE- TO-ONE, INDIVIDUALIZED LITERACY INTERVENTION USING A PHONICS-BASED CURRICULUM DELIVERED TO THE YOUNGER READ STUDENTS BY PAID READ TEEN LEADERS, EARNING MINIUM WAGE AND 2) A 45-MINUTE GROUP WORK SESSION LED BY A READ TEACHER, EITHER HOMEWORK HELP OR COMPLEMENTARY LITERACY ACTIVITIES. DURING THE ONE-TO-ONE TUTORING SESSION, STUDENTS READ OUT LOUD TO THEIR TEEN LEADERS A BOOK THEY HAVE ALREADY MASTERED, AND THEN THE TEEN LEADER PROVIDES EXPLICIT ONE-TO-ONE READING INSTRUCTION AND PRACTICE. AT THE END OF EACH SESSION, STUDENTS ARE GIVEN A BOOK FROM OUR LENDING LIBRARY FOR CONTINUED PRACTICE AT HOME. MORE THAN 85 PERCENT OF STUDENTS IN OUR PROGRAM IMPROVE MORE THAN A GRADE LEVEL IN READING. READ ALLIANCE TARGETS ITS EARLY LITERACY PROGRAM TO KINDERGARTEN, FIRST AND SECOND GRADERS WHO ARE READING AT LEAST HALF A GRADE LEVEL BEHIND. THE INDIVIDUALIZED, PHONICS-BASED INSTRUCTION USES A LEVELED CURRICULUM TO ADVANCE READING SKILL IMPROVEMENT OF AN AVERAGE OF AT LEAST ONE READING LEVEL IN JUST 30 SESSIONS. IN RESPONSE TO THE COVID-19 PANDEMIC, WHICH INTERRUPTED IN-PERSON PROGRAMMING, READ ALLIANCE MOVED ITS UNIQUE DUAL- IMPACT PROGRAM MODEL ONLINE. IT STAYED TRUE TO THE PROGRAM MODEL OF PAIRING TRAINED TEEN LEADERS ONE-ON-ONE WITH STRUGGLING EARLY READERS, SUPERVISED BY LICENSED TEACHERS IN A VIRTUAL SETTING. IN FY20, READ ALLIANCE CONDUCTED A 3-WEEK TEST OF THIS VIRTUAL MODEL IN JUNE, AND IMPLEMENTED A 5-WEEK PILOT SERVING 106 CHILDREN AND EMPLOYING 74 TEENS IN JULY AND AUGUST. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $1,744,408 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 9 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 853 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 19 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 19 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CT | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NJ | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIELLE GUINDO | PersonNm |
| Phone | 6468676104 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 160 BROADWAY 8TH FLOOR EAST BLDG | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10038 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| MARK A HEMENETZ | ||||||
| CHAIR | 3.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ROBERT BROWN | ||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MICHAEL LUBOWITZ | ||||||
| SECRETARY | 3.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| DEBJANI BAGCHI | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ADAM BAXTER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARCIA CANTARELLA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARIANA DE LA VEGA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ERIC FARINA | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAVID FOSTER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| SAMUEL GRADESS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ESTHER JUDELSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| MARK MOORE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ZOE MOUNTROUKAS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| PETER NKONGHO | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| PATRICK RAMSEY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RICHARD ROBINSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| PETER STEIN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JULIE STERLING | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JASON TEETERS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DANIELLE GUINDO | ||||||
| EXECUTIVE DI | 40.00 | Yes (X) | $173,500 | $0 | $15,708 | |
| YVETTE RUSSELL | ||||||
| CHIEF PRGM O | 40.00 | Yes (X) | $133,500 | $0 | $8,524 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $307,000 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $24,232 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Government Grants | $270,642 | GovernmentGrantsAmt |
| All Other Contributions | $1,559,125 | AllOtherContributionsAmt |
| Total Contributions | $1,829,767 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,107 | TotalRevenueColumnAmt |
| Exclusion | $6,107 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,835,874 | TotalRevenueColumnAmt |
| Exclusion | $6,107 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $307,000 | TotalAmt |
| Program Services | $254,950 | ProgramServicesAmt |
| Management And General | $43,375 | ManagementAndGeneralAmt |
| Fundraising | $8,675 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,103,024 | TotalAmt |
| Program Services | $936,434 | ProgramServicesAmt |
| Management And General | $34,195 | ManagementAndGeneralAmt |
| Fundraising | $132,395 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,992 | TotalAmt |
| Program Services | $63,212 | ProgramServicesAmt |
| Management And General | $6,307 | ManagementAndGeneralAmt |
| Fundraising | $11,473 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $106,964 | TotalAmt |
| Program Services | $91,093 | ProgramServicesAmt |
| Management And General | $5,631 | ManagementAndGeneralAmt |
| Fundraising | $10,240 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,365 | TotalAmt |
| Management And General | $15,365 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $208,250 | TotalAmt |
| Program Services | $46,196 | ProgramServicesAmt |
| Management And General | $81,458 | ManagementAndGeneralAmt |
| Fundraising | $80,596 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $43,319 | TotalAmt |
| Program Services | $38,046 | ProgramServicesAmt |
| Management And General | $1,895 | ManagementAndGeneralAmt |
| Fundraising | $3,378 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,022 | TotalAmt |
| Program Services | $26,212 | ProgramServicesAmt |
| Management And General | $1,707 | ManagementAndGeneralAmt |
| Fundraising | $3,103 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $192,552 | TotalAmt |
| Program Services | $154,042 | ProgramServicesAmt |
| Management And General | $19,255 | ManagementAndGeneralAmt |
| Fundraising | $19,255 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,102 | TotalAmt |
| Program Services | $11,071 | ProgramServicesAmt |
| Management And General | $721 | ManagementAndGeneralAmt |
| Fundraising | $1,310 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,813 | TotalAmt |
| Program Services | $18,870 | ProgramServicesAmt |
| Management And General | $2,108 | ManagementAndGeneralAmt |
| Fundraising | $3,835 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $91,776 | TotalAmt |
| Program Services | $77,545 | ProgramServicesAmt |
| Management And General | $5,049 | ManagementAndGeneralAmt |
| Fundraising | $9,182 | FundraisingAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| FURNITURE, MAINTENANCE | $18,321 | $15,149 | $1,126 | $2,046 |
| MISCELLANEOUS | $12,268 | $7,226 | $809 | $4,233 |
| RECRUITMENT, RETENTION | $5,396 | $4,362 | $367 | $667 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,254,164 | TotalAmt |
| Program Services | $1,744,408 | ProgramServicesAmt |
| Management And General | $219,368 | ManagementAndGeneralAmt |
| Fundraising | $290,388 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,440 | BOYAmt |
| EOY | $10,045 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $756,424 | BOYAmt |
| EOY | $1,326,294 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $348,427 | BOYAmt |
| EOY | $410,913 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $114,086 | BOYAmt |
| EOY | $208,467 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $161,646 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $74,690 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $111,770 | BOYAmt |
| EOY | $86,956 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $241,910 | BOYAmt |
| EOY | $79,410 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,576,057 | BOYAmt |
| EOY | $2,122,085 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $235,235 | BOYAmt |
| EOY | $71,754 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $824,588 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,415 | BOYAmt |
| EOY | $327,626 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $259,650 | BOYAmt |
| EOY | $1,223,968 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,153,657 | BOYAmt |
| EOY | $663,441 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $162,750 | BOYAmt |
| EOY | $234,676 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,316,407 | BOYAmt |
| EOY | $898,117 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,576,057 | BOYAmt |
| EOY | $2,122,085 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$418,290 | ReconcilationRevenueExpnssAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,131,383 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,915,640 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,053,738 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,227,383 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,829,767 | CurrentTaxYearAmt |
| Total | $10,157,911 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,131,383 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,915,640 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,053,738 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,227,383 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,829,767 | CurrentTaxYearAmt |
| Total | $10,157,911 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $2,217,637 | SubstantialContributorsTotAmt |
| Public Support Total170 | $7,940,274 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $59,303 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $63,249 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $78,189 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $37,985 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $6,107 | CurrentTaxYearAmt |
| Total | $244,833 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,891 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $208 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus1 Year | $9,296 | CurrentTaxYearMinus1YearAmt |
| Total | $12,395 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $10,415,139 | TotalSupportAmt |
| Public Support CY170 | 0.76240 | PublicSupportCY170Pct |
| Public Support PY170 | 0.77490 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART II, LINE 10 | FormAndLineReferenceDesc |
| Explanation | OTHER 12,395 | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $112,542 | OtherCostOrOtherBasisAmt |
| Depreciation | $31,808 | DepreciationAmt |
| Book Value | $80,734 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $49,104 | OtherCostOrOtherBasisAmt |
| Depreciation | $42,882 | DepreciationAmt |
| Book Value | $6,222 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $86,956 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| LOAN PAYABLE | $274,235 |
| DEFERRED RENT | $53,391 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $327,626 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $1,945,781 | TotalRevEtcAuditedFinclStmtAmt |
| Donated Services And Use Fclts | $109,907 | DonatedServicesAndUseFcltsAmt |
| Revenue Not Reported | $109,907 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,835,874 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $1,835,874 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $2,364,071 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $109,907 | DonatedServicesUseFcltsAmt |
| Expenses Not Reported | $109,907 | ExpensesNotReportedAmt |
| Expenses Subtotal | $2,254,164 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $2,254,164 | TotalExpensesPerForm990Amt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DANIELLE GUINDO | PersonNm |
| Title | EXECUTIVE DIRECTOR | TitleTxt |
| Base Compensation Filing Org | $173,500 | BaseCompensationFilingOrgAmt |
| Nontaxable Benefits Filing Org | $15,708 | NontaxableBenefitsFilingOrgAmt |
| Total Compensation Filing Org | $189,208 | TotalCompensationFilingOrgAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | READ ALLIANCE, INC (READ) WORKS TO ACCELERATE THE EDUCATIONAL TRAJECTORY OF EARLY ELEMENTARY STUDENTS THROUGH THE POWER OF TEENS WHO PROVIDE ONE-TO-ONE LITERACY TUTORING IN UNDER-RESOURCED COMMUNITIES. READ IMPACTS TWO POPULATIONS SIMULTANEOUSLY, AND THROUGH A HIGHLY STRUCTURED, RESEARCH-BASED CURRICULUM, STUDENTS AVERAGE A FULL YEAR'S GROWTH IN READING AND THEIR TEEN TUTORS DEVELOP COLLEGE, CAREER, AND LIFE SKILLS. EARLY INTERVENTION PREVENTS READING DIFFICULTIES FROM BECOMING BARRIERS TO FUTURE SUCCESS, WHILE PROVIDING TEENS WITH THE OPPORTUNITY TO HAVE A POSITIVE DIRECT IMPACT ON THE LIVES OF CHILDREN IN THEIR COMMUNITIES THROUGH MEANINGFUL SERVICE AND JOBS. |
| FORM 990, PAGE 2, PART III, LINE 4A | TEEN LEADERSHIP PROGRAM- YOUNG PEOPLE EMPLOYED BY READ'S TEEN LEADERSHIP PROGRAM RECEIVE LEADERSHIP DEVELOPMENT, JOB READINESS, PROFESSIONAL SKILLS, AND ECONOMIC EMPOWERMENT PROGRAMMING. THROUGH THEIR INVOLVEMENT, TEEN LEADERS ARE ENGAGED IN MEANINGFUL AFTER SCHOOL EMPLOYMENT FOR 90 MINUTES A DAY, FOR A MINIMUM OF THREE DAYS A WEEK, AT A NEARBY ELEMENTARY SCHOOL. TEEN LEADERS ARE PAID MINIMUM WAGE AND ARE NOT ONLY TRAINED TO DELIVER THE RESEARCH-BASED READING CURRICULUM ONE-ON-ONE TO YOUNG CHILDREN, BUT THEY ARE ALSO TRAINED IN BEHAVIOR MANAGEMENT AND DATA COLLECTION THAT IS CRUCIAL TO PROGRAM IMPLEMENTATION, REFLECTION AND ANALYSIS. TEEN LEADERS HAVE THE OPPORTUNITY TO ADVANCE TO SENIOR TEEN LEADER, A POSITION WITH ADDITIONAL RESPONSIBILITY PROVIDING SUPPORT AND GUIDANCE FOR THE TEEN LEADERS, PEER- TO-PEER DEVELOPMENT, AND SUPERVISION. |
| FORM 990, PAGE 2, PART III, LINE 4B | EARLY LITERACY PROGRAM- OUR UNIQUE EARLY LITERACY PROGRAM PROVIDES 90 MINUTES OF PROGRAMMING A DAY IN TWO PARTS: 1) A 45-MINUTE SESSION OF ONE- TO-ONE, INDIVIDUALIZED LITERACY INTERVENTION USING A PHONICS-BASED CURRICULUM DELIVERED TO THE YOUNGER READ STUDENTS BY PAID READ TEEN LEADERS, EARNING MINIUM WAGE AND 2) A 45-MINUTE GROUP WORK SESSION LED BY A READ TEACHER, EITHER HOMEWORK HELP OR COMPLEMENTARY LITERACY ACTIVITIES. DURING THE ONE-TO-ONE TUTORING SESSION, STUDENTS READ OUT LOUD TO THEIR TEEN LEADERS A BOOK THEY HAVE ALREADY MASTERED, AND THEN THE TEEN LEADER PROVIDES EXPLICIT ONE-TO-ONE READING INSTRUCTION AND PRACTICE. AT THE END OF EACH SESSION, STUDENTS ARE GIVEN A BOOK FROM OUR LENDING LIBRARY FOR CONTINUED PRACTICE AT HOME. MORE THAN 85 PERCENT OF STUDENTS IN OUR PROGRAM IMPROVE MORE THAN A GRADE LEVEL IN READING. READ ALLIANCE TARGETS ITS EARLY LITERACY PROGRAM TO KINDERGARTEN, FIRST AND SECOND GRADERS WHO ARE READING AT LEAST HALF A GRADE LEVEL BEHIND. THE INDIVIDUALIZED, PHONICS-BASED INSTRUCTION USES A LEVELED CURRICULUM TO ADVANCE READING SKILL IMPROVEMENT OF AN AVERAGE OF AT LEAST ONE READING LEVEL IN JUST 30 SESSIONS. IN RESPONSE TO THE COVID-19 PANDEMIC, WHICH INTERRUPTED IN-PERSON PROGRAMMING, READ ALLIANCE MOVED ITS UNIQUE DUAL- IMPACT PROGRAM MODEL ONLINE. IT STAYED TRUE TO THE PROGRAM MODEL OF PAIRING TRAINED TEEN LEADERS ONE-ON-ONE WITH STRUGGLING EARLY READERS, SUPERVISED BY LICENSED TEACHERS IN A VIRTUAL SETTING. IN FY20, READ ALLIANCE CONDUCTED A 3-WEEK TEST OF THIS VIRTUAL MODEL IN JUNE, AND IMPLEMENTED A 5-WEEK PILOT SERVING 106 CHILDREN AND EMPLOYING 74 TEENS IN JULY AND AUGUST. |
| FORM 990, PAGE 6, PART VI, LINE 11B | MANAGEMENT AND ALL MEMBERS OF THE GOVERNING BOARD REVIEWED THE 990 PRIOR TO FILING WITH THE IRS. IF MEMBERS OF THE GOVERNING BOARD HAVE QUESTIONS ABOUT THE 990 THEY DISCUSS THEM WITH MANAGEMENT. |
| FORM 990, PAGE 6, PART VI, LINE 12C | READ HAS DEVELOPED ITS CONFLICT OF INTEREST POLICY AND PERIODICALLY REVIEWS THE POLICY TO ENSURE THAT ALL ITS DIRECTORS AND OFFICERS CONTINUE TO ACT IN COMPLIANCE WITH APPLICABLE LAWS AND TO DEAL WITH ALL PERSONS DOING BUSINESS WITH READ APPROPRIATELY. THESE POLICIES ARE GUIDELINES TO PROTECT READ'S INTERESTS WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE CORPORATION. THESE POLICIES ARE INTENDED TO SUPPLEMENT BUT NOT REPLACE ANY APPLICABLE STATE LAWS GOVERNING CONFLICTS OF INTEREST AND PERMISSIBLE ACTIVITIES APPLICABLE TO NONPROFIT AND CHARITABLE CORPORATIONS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS/HER FINANCIAL INTERESTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST, THE INTERESTED PERSON SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE FINANCIAL INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. FOR ADDRESSING THE CONFLICT OF INTEREST: A. THE EXECUTIVE DIRECTOR OF READ OR THE FINANCE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. B. AFTER EXERCISING DUE DILIGENCE, THE EXECUTIVE DIRECTOR OR THE FINANCE COMMITTEE SHALL DETERMINE WHETHER READ CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. C. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO READ AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH A DETERMINATION. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY: A. IF THE EXECUTIVE DIRECTOR OR THE FINANCE COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE RESPONSE OF THE MEMBER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THAT THE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE SHALL SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY B. HAS READ AND UNDERSTANDS THE POLICY C. HAS AGREED TO COMPLY WITH THE POLICY D. UNDERSTANDS THAT READ IS A NONPROFIT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. |
| FORM 990, PAGE 6, PART VI, LINE 15A | READ'S EXECUTIVE COMMITTEE DETERMINES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR USING DATA OBTAINED FROM THE 990 OF OTHER ORGANIZATIONS AND A SURVEY CONDUCTED BY PROFESSIONALS FOR NOT-FOR-PROFITS (PNP). THE DELIBERATION AND DECISION ARE MADE BY THE EXECUTIVE COMMITTEE. THE EXECUTIVE DIRECTOR'S FISCAL 2020 SALARY REVIEW WAS COMPLETED IN AUGUST 2019. ANOTHER REVIEW TOOK PLACE IN AUGUST 2020 FOR THE EXECUTIVE DIRECTOR'S FISCAL 2021 SALARY. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| FORM 990, PAGE 12, PART XII, LINE 2C | THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Comments