2013-05-22T13:26:49-05:00 2012-08-31 131517563 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2011-09-01 134091062 READING EXCELLENCE AND DISCOVERY FOUNDATION INC READ 6468676101 80 MAIDEN LANE 11TH FLOOR NEW YORK NY 10038 KELLEY PERKINS 6468676101 2013-05-15 1 FREDERICK H ROTHMAN P01275277 2128674000 2011 2016-02-25 16:41:14Z READ ALLIANCE KELLEY PERKINS 80 MAIDEN LANE 11TH FLOOR NEW YORK NY 10038 2427233 0 X WWW.READNYC.ORG X 2000 NY TO PREPARE AT-RISK CHILDREN TO READ AT GRADE LEVEL. 16 16 1362 1076 0 0 2141067 2409972 0 0 1473 103 -2521 -20833 2140019 2389242 0 0 0 0 1725191 1705284 30000 0 201139 635541 601261 2390732 2306545 -250713 82697 581385 761265 39561 136744 541824 624521 X READ SERVES AT-RISK KINDERGARTEN AND FIRST GRADE STUDENTS BYRECRUITING AND TRAINING TEENS TO PROVIDE STRUCTURED ONE-TO-ONETUTORING IN READING. READ IMPACTS TWO AT-RISK POPULATIONSSIMULTANEOUSLY, 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. 0 0 1458479 AFTER SCHOOL PROGRAM - READ PROVIDES AT-RISK KINDERGARTEN AND FIRST GRADE STUDENTS WITH STRUCTURED ONE-TO-ONE TUTORING. READ PROVIDES TEENS WITH FORMAL TRAINING, VOLUNTEER OPPORTUNITIES, AND PAID JOBS AS READING TUTORS TO THEIR YOUNGER PEERS. 471610 SUMMER PROGRAM - READ'S SUMMER READING PROGRAM PROVIDES STRUCTURED ONE-TO-ONE TUTORING. IN ADDITION, READ'S SUMMER READING PROGRAM PROVIDES TEENS WITH MEANINGFUL PAID SUMMER EMPLOYMENT. 1930089 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1362 1 0 0 0 0 0 1 1 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X KELLEY PERKINS 6468676104 80 MAIDEN LANE 11TH FLOOR NEW YORK NY 10038 ALAIN LEBEC 3.50 X X 0 0 0 ROBERT BROWN 3.50 X X 0 0 0 VINCENT ALFIERI 3.50 X X 0 0 0 BILL INGRAM 1.00 X 0 0 0 ALFRED SIKES 1.00 X 0 0 0 ALAN GOULD 1.00 X 0 0 0 SAMUEL GRADESS 1.00 X 0 0 0 TOM REGAN 1.00 X 0 0 0 GORDON A PARIS 1.00 X 0 0 0 SHEILA MURPHY 2.00 X 0 0 0 MARK HEMENTZ 1.00 X 0 0 0 SONIA ORTIZ-GULARDO 1.00 X 0 0 0 PATRICK RAMSEY 1.00 X 0 0 0 MARK RAVESLOOT 1.00 X 0 0 0 FERN LAZAR 1.00 X 0 0 0 BARBARA HOCHHAUSER 1.00 X 0 0 0 RAQUEL BAKER 1.00 X 0 0 0 NANCY BLACKFORD 1.00 X 0 0 0 AMANDA NEVILLE 1.00 X 0 0 0 YVONNE PETROSOVITS 40.00 X 156121 0 8201 LAVINIA MANCUSO 40.00 X 96219 0 0 KELLEY PERKINS 40.00 X 78459 0 5730 330799 0 13931 1 0 1 0 0 328108 903376 1178488 2409972 103 103 10260 328108 37991 -27731 -27731 MISCELLANEOUS 900099 6898 6898 6898 2389242 0 0 -20730 304080 267590 15204 21286 1187333 1030698 60568 96067 90288 78456 4599 7233 123583 107570 6279 9734 3769 3769 12500 12500 95578 30122 35475 29981 2870 725 2145 144469 128033 6445 9991 278469 242385 14150 21934 5220 4809 411 17691 15398 900 1393 23621 20560 1200 1861 BAD DEBT 11865 11865 5209 3743 218 1248 2306545 1930089 175317 201139 22560 216 258838 500431 155155 130617 34612 35939 253691 220349 26633 33342 83587 60720 581385 761265 39561 36900 0 99844 39561 136744 X 541824 560421 64100 541824 624521 581385 761265 82697 0 X X 0 1 1 X 0 X 2310572 1884491 2260204 2141067 2409972 11006306 2310572 1884491 2260204 2141067 2409972 11006306 936553 10069753 15518 5347 1424 1473 103 23865 10203 6898 17101 11047272 0.91150 0.90580 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 115738 115418 320 137953 104931 33022 33342 SECURITY DEPOSITS 60720 60720 DEFERRED RENT 99844 99844 2389242 2306545 82697 82697 2429948 40706 40706 2389242 0 2389242 2347251 40706 40706 2306545 0 2306545 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE COMPANY HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PERIODS ENDING AUGUST 31, 2009 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. ANNUAL BENEFIT 338368 328108 10260 8437 14356 15198 338368 328108 10260 8437 14356 15198 37991 -27731 X X X X 0 0 0 0 0 0 0 0 0 YVONNE PETROSOVITS 156121 0 0 0 0 0 0 0 8201 0 164322 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 MANAGEMENT AND ALL MEMBERS OF THE GOVERNING BOARD REVIEWED THE 990 PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, 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. PROCEDURES 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 GIVE NOT 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 AND MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THAT THE MEMBERS 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, PART VI, SECTION B, LINE 15 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 FISCAL MANAGEMENT ASSOCIATES. THE DELIBERATION AND DECISION IS RECORDED IN THE MINUTES OF THE EXECUTIVE COMMITTEE. THIS PROCESS WAS LAST DONE IN MARCH 2012. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.