2012-06-25T13:21:19-05:00 2011-08-31 LOEB & TROPER LLP 655 THIRD AVENUE 12TH FLOOR NEW YORK NY 10017 990 2010-09-01 134091062 READING EXCELLENCE AND DISCOVERY FOUNDATION INC READ 6468676101 80 MAIDEN LANE 11TH FLOOR NEW YORK NY 10038 KELLEY PERKINS 6468676101 2012-06-20 1 FREDERICK H ROTHMAN 2128674000 2010 2016-02-24 21:20:13Z KELLEY PERKINS 80 MAIDEN LANE 11TH FLOOR NEW YORK NY 10038 2167240 0 X WWW.READNYC.ORG X 2000 NY TO PREPARE AT-RISK CHILDREN TO READ AT GRADE LEVEL. 18 18 1173 1230 0 0 2260204 2141067 0 0 1424 1473 -24695 -2521 2236933 2140019 0 0 0 0 1624509 1725191 30000 30000 261801 527610 635541 2182119 2390732 54814 -250713 839321 581385 46784 39561 792537 541824 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 1433573 AFTER-SCHOOL PROGRAM - RESEARCH INDICATES THAT 90% OF STUDENTS READING BELOW GRADE LEVEL WILL NOT CATCH UP TO THEIR PEERS, AND WILL THEREFORE CONTINUE TO STRUGGLE ACADEMICALLY. READ SERVES AT-RISK KINDERGARTEN AND FIRST GRADE STUDENTS BY RECRUITING AND TRAINING TEENS TO PROVIDE STRUCTURED ONE-TO-ONE TUTORING IN READING. READ IMPACTS TWO AT-RISK 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. 487369 SUMMER PROGRAM - ACCORDING TO THE NATIONAL SUMMER LEARNING ASSOCIATION, MANY STUDENTS, ESPECIALLY LOW AND MODERATE-INCOME STUDENTS, LACK ACCESS TO EDUCATIONAL OPPORTUNITIES DURING THE SUMMER, AND FALL SIGNIFICANTLYBEHIND IN READING. READ'S SUMMER READING PROGRAM PROVIDES 40-45 MINUTE SESSIONS OF 45 MINUTES EACH OF STRUCTURED ONE-TO-ONE TUTORING. SUMMER PROGRAMMING ALSO PROVIDES NEARLY 30 HOURS OF SUPPLEMENTAL LITERACY INSTRUCTION, INCLUDING SMALL GROUP READ-ALOUDS AS WELL AS WRITING AND ART RELATED TO THE STORY OF THE DAY. READ'S SUMMER READING PROGRAM ALSO PROVIDES TEENS WITH MEANINGFUL PAID SUMMER JOBS, CRITICAL TO THEIR FUTURE COLLEGE AND CAREER SUCCESS. 1920942 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 1 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 1 1173 1 0 0 0 0 0 1 1 0 0 0 0 X 18 18 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 VINCENT ALFIERI 3.50 X X 0 0 0 ROBERT S BROWN 3.50 X X 0 0 0 RAQUEL FIORAVANTI BAKER 1.00 X 0 0 0 NANCY BLACKFORD 1.00 X 0 0 0 ALAN GOULD 1.00 X 0 0 0 SAMUEL GRADESS 1.00 X 0 0 0 BARBARA HOCHHAUSER 1.00 X 0 0 0 FERN LAZAR 1.00 X 0 0 0 SHEILA MURPHY 1.00 X 0 0 0 AMANDA NEVILLE 1.00 X 0 0 0 SONIA ORTIZ-GULARDO 1.00 X 0 0 0 GORDON A PARIS 1.00 X 0 0 0 PATRICK RAMSEY 1.00 X 0 0 0 MARK RAVESLOOT 1.00 X 0 0 0 TOM REGAN 1.00 X 0 0 0 ALFRED SIKES 1.00 X 0 0 0 MARK HEMENTEZ 1.00 X 0 0 0 YVONNE PETRASOVITS 40.00 X 156121 0 9030 LAVINIA MANCUSO 40.00 X 96219 0 0 252340 0 9030 1 0 1 0 0 255490 622201 1263376 10150 2141067 1473 1473 24700 255490 27221 -2521 -2521 2140019 0 0 -1048 267681 235711 12891 19079 1232932 1085675 59377 87880 100946 81079 8011 11856 123632 100086 9494 14052 5199 5199 12500 12500 30000 30000 147582 53326 47518 46738 12128 4297 3918 3913 183403 153935 11882 17586 178428 144446 13702 20280 19117 15476 1468 2173 32161 26036 2470 3655 19937 16140 1531 2266 BAD DEBT 17579 17579 MISCELLANEOUS 7507 4735 449 2323 2390732 1920942 207989 261801 6315 22560 583419 258838 155067 155155 23859 34612 229291 202658 47794 26633 22867 83587 839321 581385 46784 39561 46784 39561 X 771702 541824 20835 0 792537 541824 839321 581385 -250713 0 X X 0 1 1 X 0 X 1836594 2310572 1884491 2260204 2141067 10432928 1836594 2310572 1884491 2260204 2141067 10432928 904527 9528401 30440 15518 5347 1424 1473 54202 21871 10203 32074 10519204 0.90580 0.89820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 229291 202658 26633 26633 SECURITY DEPOSITS 83587 83587 2140019 2390732 -250713 0 -250713 2241183 101164 101164 2140019 0 2140019 2491896 101164 101164 2390732 0 2390732 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, 2008 AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY APPLICABLE TAXING AUTHORITIES. X X X X X X X 1 SUSAN ULIN ASSOCIATES LTD 156 FIFTH AVENUE NEW YORK NY 10010 HELP ORGANIZE AND COORDINATE SPECIAL EVENT 0 280190 30000 250190 280190 30000 250190 NY ANNUAL BENEFIT 280190 255490 24700 13350 10501 395 2975 280190 255490 24700 13350 10501 395 2975 27221 -2521 X X X X 0 0 0 0 0 0 0 0 0 YVONNE PETRASOVITS 156121 0 0 0 0 0 0 0 9030 0 165151 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 PRESIDENT 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 PRESIDENT 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 PRESIDENT 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 FINANCE COMMITTEE AND BOARD CHAIR DETERMINES THE COMPENSATION FOR THE PRESIDENT AND VICE PRESIDENT USING DATA OBTAINED FROM THE 990 OF OTHER ORGANIZATIONS AND A SUVEY CONDUCTED BY FMA. THE DELIBERATION AND DECISION IS RECORDED IN THE MINUTES OF THE FINANCE COMMITTEE. THE PROCESS WAS LAST UNDERTAKEN IN 2009. SUBSEQUENT TO 2009, ONLY COST OF LIVING ADJUSTMENTS HAVE BEEN MADE TO THE SALARY OF SUCH INDIVIDUALS. 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.