Civic Intelligence

The Reading Team Inc

990 • Fiscal year 2024 • EIN 13-4125884

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 16, 2024

PO Box 3510New York, NY 10027

(212) 280-2042

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

80th percentile

0.40x

Higher debt load relative to assets than 80% of similar nonprofits.

2024 filings • NTEE P • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

0.42x

Higher debt load relative to revenue than 86% of similar nonprofits.

2024 filings • NTEE P • $500k-$1M nonprofits • Source year 2024

Net Margin

6th percentile

-54%

Higher net margin than 6% of similar nonprofits.

2024 filings • NTEE P • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

71st percentile

$70,083

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 11.6% of source-year revenue.

2024 filings • NTEE P • $500k-$1M nonprofits • Source year 2024

Asset Growth

5th percentile

-43%

Faster asset growth than 5% of similar nonprofits.

2024 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-46%

Faster revenue growth than 7% of similar nonprofits.

2024 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$633,037

Down $480,064 (-43%) from 2023

Net Assets

Down

$380,441

Down $323,038 (-46%) from 2023

Liabilities

Down

$252,596

Down $157,026 (-38%) from 2023

Revenue

Down

$603,288

Down $513,611 (-46%) from 2023

Expenses

Up

$926,326

Up $66,082 (+7.7%) from 2023

Net Income

Down

-$323,038

Down $579,693 (-226%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $425,397Liabilities 2011: $0Net Assets 2011: $425,3972011Assets 2012: $340,998Liabilities 2012: $0Net Assets 2012: $340,9982012Assets 2013: $262,226Liabilities 2013: $0Net Assets 2013: $262,2262013Assets 2014: $226,589Liabilities 2014: $0Net Assets 2014: $226,5892014Assets 2015: $210,141Liabilities 2015: $70,702Net Assets 2015: $139,4392015Assets 2016: $308,544Liabilities 2016: $82,110Net Assets 2016: $226,4342016Assets 2017: $368,997Liabilities 2017: $54,568Net Assets 2017: $314,4292017Assets 2018: $208,284Liabilities 2018: $50,730Net Assets 2018: $157,5542018Assets 2019: $373,398Liabilities 2019: $24,330Net Assets 2019: $349,0682019Assets 2020: $474,557Liabilities 2020: $86,256Net Assets 2020: $388,3012020Assets 2021: $500,822Liabilities 2021: $9,043Net Assets 2021: $491,7792021Assets 2022: $463,461Liabilities 2022: $10,800Net Assets 2022: $452,6612022Assets 2023: $1,113,101Liabilities 2023: $409,622Net Assets 2023: $703,4792023Assets 2024: $633,037Liabilities 2024: $252,596Net Assets 2024: $380,4412024Assets 2025: $417,407Liabilities 2025: $210,452Net Assets 2025: $206,9552025

Highlighted filing

2024

Assets$633,037
Liabilities$252,596
Net Assets$380,441

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $533,237Expenses 2011: $475,111Net Income 2011: $58,1262011Revenue 2012: $543,784Expenses 2012: $633,675Net Income 2012: -$89,8912012Revenue 2013: $783,404Expenses 2013: $869,123Net Income 2013: -$85,7192013Revenue 2014: $795,583Expenses 2014: $826,567Net Income 2014: -$30,9842014Revenue 2015: $816,825Expenses 2015: $830,859Net Income 2015: -$14,0342015Revenue 2016: $956,659Expenses 2016: $864,493Net Income 2016: $92,1662016Revenue 2017: $1,035,692Expenses 2017: $947,697Net Income 2017: $87,9952017Revenue 2018: $843,515Expenses 2018: $1,000,390Net Income 2018: -$156,8752018Revenue 2019: $886,137Expenses 2019: $694,623Net Income 2019: $191,5142019Revenue 2020: $794,160Expenses 2020: $754,927Net Income 2020: $39,2332020Revenue 2021: $810,698Expenses 2021: $707,220Net Income 2021: $103,4782021Revenue 2022: $741,393Expenses 2022: $780,511Net Income 2022: -$39,1182022Revenue 2023: $1,116,899Expenses 2023: $860,244Net Income 2023: $256,6552023Revenue 2024: $603,288Expenses 2024: $926,326Net Income 2024: -$323,0382024Revenue 2025: $704,322Expenses 2025: $877,808Net Income 2025: -$173,4862025

Highlighted filing

2024

Revenue$603,288
Expenses$926,326
Net Income-$323,038
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 16, 2024
Return Version
2023v6.0
Gross Receipts
$603,288
Mission and Program Overview

Mission

The foundation is dedicated to enabling young children who at high risk of reading failure to become strong and enthusiastic readers, writers, listeners, and speakers and to develop the skills, habits, and behaviors that will support their success in school and in life.

The reading team runs two early literacy programs: (1) preschool - 2x/week (2-hrs/session) teachers instruct 3 and 4 year old children on phonemic awareness, letter recognition, and sound manipulation. (2) after-school - 5x/week (2.5-hrs/session) teachers instruct children in grades k-5 on phonemic awareness, reading comprehension, literary devices, and writing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$509,814$296,212▼ $213,602
Cash and Non-Interest-Bearing Accounts$170,955$55,882▼ $115,073
Total Assets$1,113,101$633,037▼ $480,064
Other Assets Total$432,332$280,943▼ $151,389
Liabilities
Other Liabilities$391,804$245,896▼ $145,908
Accounts Payable and Accrued Expenses$17,818$6,700▼ $11,118
Total Liabilities$409,622$252,596▼ $157,026
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$703,479$380,441▼ $323,038
Total Net Assets Fund Balance$703,479$380,441▼ $323,038
Total Liabilities and Net Assets / Fund Balance$1,113,101$633,037▼ $480,064

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$12,862--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Charon DarrisExecutive DiFT$70,083$70,083

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$568,984
Program Service Revenue
$0
Investment Income
$34,304
Other Revenue
$0
All Other Contributions
$568,984
Change in Net Assets
$-323,038
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$580,889
Other Expenses$345,437
Total Fundraising Expense$96,669
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$319,565$31,955$47,936$399,456
Occupancy$168,745$16,874$25,312$210,931
Current Officers, Directors, Trustees, and Key Employees$56,067$5,607$8,410$70,084
Payroll Taxes$47,078$4,708$7,062$58,848
Fees for Services Management$30,500$8,804-$39,304
Other Expenses$34,151--$34,151
Office Expenses$25,750$4,795$1,648$32,193
Other Employee Benefits$22,025$2,202$3,304$27,531
Comp Disqual Persons$19,976$1,997$2,997$24,970
Insurance$16,926$5,232-$22,158
Fees for Services Accounting-$6,700-$6,700
Total Functional Expenses$740,783$88,874$96,669$926,326
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$245,896
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The executive director sends the form 990 to the audit committee for review and then to the entire board of directors for their review and comments before it is filed.

Form 990, Page 6, Part VI, Line 12C

The organization monitors and enforces compliance through inquiry of officers, directors and employees.

Form 990, Page 6, Part VI, Line 15A

The reading team executive director is paid a salary determined and approved by the board of directors. This amount is reviewed and approved by the board of directors when they approve the budget each year.

Form 990, Page 6, Part VI, Line 15B

The reading team executive director is paid a salary determined and approved by the board of directors. This amount is reviewed and approved by the board of directors when they approve the budget each year. The executive director position is the only paid position for key employees.

Form 990, Page 6, Part VI, Line 19

The financial statements, governing documents and conflict of interest policy are available to the public upon request from the executive director, phone 212-280-2042, address: the reading team, po box 3510, new york, ny 10027. Website: www.readingteam.org.

Filing and Contact Details

Filer

Filer Name
Reading Team Inc
EIN
13-4125884
Phone
2122802042
Address
PO BOX 3510, NEW YORK, NY 10027

Signing Officer

Name
Charon Darris
Title
Executive Director
Phone
2122802042
Signed
2024-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Charon Darris
Formed
2000
Legal Domicile
Ny
Voting Board Members
16
Independent Board Members
15
Employees
37
Volunteers
19

Preparer

Firm
Lehman Flynn Vollaro Ny Cpas Pllc
Address
534 BROADHOLLOW ROAD - SUITE 302, MELVILLE, NY 11747
Preparer
Lawrence a Vollaro CPA
Phone
2127362220
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The reading team runs two early literacy programs: (1) preschool - 2x/week (2-hrs/session) teachers instruct 3 and 4 year old children on phonemic awareness, letter recognition, and sound manipulation. (2) after-school - 5x/week (2.5-hrs/session) teachers instruct children in grades k-5 on phonemic awareness, reading comprehension, literary devices, and writing.

Form 990, Page 1, Part I, Line 6

VARIOUS

Form 990, Page 2, Part III, Line 4A

The reading team preschool program is an intensive and multifaceted early literacy intervention that serves children from neighborhood day care centers and head start programs. This program enables the children we serve to develop the skills, knowledge, and attitudes that are developmental precursors to reading and writing. It is administered by trained, paid teaching staff called literacy mentors. The reading team after-school program serves children in kindergarten through fifth grade who typically are referred to us by their teachers because they are struggling to keep up in the classroom and sometimes because they have classroom behavior problems as well. The reading team engages the children in a wide range of literacy-nurturing activities that enable them to make significant gains in reading ability their first year in the program. More than 80% of reading team children have historically passed the new york state english language arts exam given starting in 3rd grade (on average in harlem, only 30% of children pass this exam)the after-school program is administered by trained,paid teachers known as literary mentors. The reading team parent programs help parents make better academic decisions and life choices for their children. Our elementary school advisory program advises and supports parents as they make important decisions about their children's schooling and a series of parent conversations teaches parents some simple and positive things they can do to support their children's developing literacy.

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IRS990/MissionDesc0THE READING TEAM RUNS TWO EARLY LITERACY PROGRAMS: (1) PRESCHOOL - 2X/WEEK (2-HRS/SESSION) TEACHERS INSTRUCT 3 AND 4 YEAR OLD CHILDREN ON PHONEMIC AWARENESS, LETTER RECOGNITION, AND SOUND MANIPULATION. (2) AFTER-SCHOOL - 5X/WEEK (2.5-HRS/SESSION) TEACHERS INSTRUCT CHILDREN IN GRADES K-5 ON PHONEMIC AWARENESS, READING COMPREHENSION, LITERARY DEVICES, AND WRITING.
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SECURITY DEPOSIT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE READING TEAM RUNS TWO EARLY LITERACY PROGRAMS: (1) PRESCHOOL - 2X/WEEK (2-HRS/SESSION) TEACHERS INSTRUCT 3 AND 4 YEAR OLD CHILDREN ON PHONEMIC AWARENESS, LETTER RECOGNITION, AND SOUND MANIPULATION. (2) AFTER-SCHOOL - 5X/WEEK (2.5-HRS/SESSION) TEACHERS INSTRUCT CHILDREN IN GRADES K-5 ON PHONEMIC AWARENESS, READING COMPREHENSION, LITERARY DEVICES, AND WRITING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VARIOUS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE READING TEAM PRESCHOOL PROGRAM IS AN INTENSIVE AND MULTIFACETED EARLY LITERACY INTERVENTION THAT SERVES CHILDREN FROM NEIGHBORHOOD DAY CARE CENTERS AND HEAD START PROGRAMS. THIS PROGRAM ENABLES THE CHILDREN WE SERVE TO DEVELOP THE SKILLS, KNOWLEDGE, AND ATTITUDES THAT ARE DEVELOPMENTAL PRECURSORS TO READING AND WRITING. IT IS ADMINISTERED BY TRAINED, PAID TEACHING STAFF CALLED LITERACY MENTORS. THE READING TEAM AFTER-SCHOOL PROGRAM SERVES CHILDREN IN KINDERGARTEN THROUGH FIFTH GRADE WHO TYPICALLY ARE REFERRED TO US BY THEIR TEACHERS BECAUSE THEY ARE STRUGGLING TO KEEP UP IN THE CLASSROOM AND SOMETIMES BECAUSE THEY HAVE CLASSROOM BEHAVIOR PROBLEMS AS WELL. THE READING TEAM ENGAGES THE CHILDREN IN A WIDE RANGE OF LITERACY-NURTURING ACTIVITIES THAT ENABLE THEM TO MAKE SIGNIFICANT GAINS IN READING ABILITY THEIR FIRST YEAR IN THE PROGRAM. MORE THAN 80% OF READING TEAM CHILDREN HAVE HISTORICALLY PASSED THE NEW YORK STATE ENGLISH LANGUAGE ARTS EXAM GIVEN STARTING IN 3RD GRADE (ON AVERAGE IN HARLEM, ONLY 30% OF CHILDREN PASS THIS EXAM)THE AFTER-SCHOOL PROGRAM IS ADMINISTERED BY TRAINED,PAID TEACHERS KNOWN AS LITERARY MENTORS. THE READING TEAM PARENT PROGRAMS HELP PARENTS MAKE BETTER ACADEMIC DECISIONS AND LIFE CHOICES FOR THEIR CHILDREN. OUR ELEMENTARY SCHOOL ADVISORY PROGRAM ADVISES AND SUPPORTS PARENTS AS THEY MAKE IMPORTANT DECISIONS ABOUT THEIR CHILDREN'S SCHOOLING AND A SERIES OF PARENT CONVERSATIONS TEACHES PARENTS SOME SIMPLE AND POSITIVE THINGS THEY CAN DO TO SUPPORT THEIR CHILDREN'S DEVELOPING LITERACY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR SENDS THE FORM 990 TO THE AUDIT COMMITTEE FOR REVIEW AND THEN TO THE ENTIRE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE THROUGH INQUIRY OF OFFICERS, DIRECTORS AND EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE READING TEAM EXECUTIVE DIRECTOR IS PAID A SALARY DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. THIS AMOUNT IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS WHEN THEY APPROVE THE BUDGET EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE READING TEAM EXECUTIVE DIRECTOR IS PAID A SALARY DETERMINED AND APPROVED BY THE BOARD OF DIRECTORS. THIS AMOUNT IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS WHEN THEY APPROVE THE BUDGET EACH YEAR. THE EXECUTIVE DIRECTOR POSITION IS THE ONLY PAID POSITION FOR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST FROM THE EXECUTIVE DIRECTOR, PHONE 212-280-2042, ADDRESS: THE READING TEAM, PO BOX 3510, NEW YORK, NY 10027. WEBSITE: WWW.READINGTEAM.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0CHARON DARRIS

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.42$0.21$0.21$0.70$0.88$0.17
2024Detailed filing. Detailed filing data is available for this year.$0.63$0.25$0.38$0.60$0.93$0.32
2023Detailed filing. Detailed filing data is available for this year.$1.11$0.41$0.70$1.12$0.86$0.26
2022Detailed filing. Detailed filing data is available for this year.$0.46$0.01$0.45$0.74$0.78$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.01$0.49$0.81$0.71$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.47$0.09$0.39$0.79$0.75$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.37$0.02$0.35$0.89$0.69$0.19
2018Detailed filing. Detailed filing data is available for this year.$0.21$0.05$0.16$0.84$1.00$0.16
2017Detailed filing. Detailed filing data is available for this year.$0.37$0.05$0.31$1.04$0.95$0.09
2016Detailed filing. Detailed filing data is available for this year.$0.31$0.08$0.23$0.96$0.86$0.09
2015Summary only. Only limited summary data is available for this year.$0.21$0.07$0.14$0.82$0.83$0.01
2014Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.80$0.83$0.03
2013Summary only. Only limited summary data is available for this year.$0.26$0.00$0.26$0.78$0.87$0.09
2012Summary only. Only limited summary data is available for this year.$0.34$0.00$0.34$0.54$0.63$0.09
2011Summary only. Only limited summary data is available for this year.$0.43$0.00$0.43$0.53$0.48$0.06