Civic Intelligence

The Reading Team Inc

990 • Fiscal year 2017 • EIN 13-4125884

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 12, 2017

2090 Adam Clayton Powell Jr Bl 100New York, NY 10027

(212) 280-2042

Siviq Scores

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

Liabilities / Assets

47th percentile

0.15x

Higher debt load relative to assets than 47% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

32nd percentile

0.05x

Higher debt load relative to revenue than 32% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Net Margin

70th percentile

8.5%

Higher net margin than 70% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

25th percentile

$0

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • NTEE P • $1M-$5M nonprofits • Source year 2017

Asset Growth

75th percentile

20%

Faster asset growth than 75% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

58th percentile

8.3%

Faster revenue growth than 58% of similar nonprofits.

2017 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$368,997

Up $60,453 (+20%) from 2016

Net Assets

Up

$314,429

Up $87,995 (+39%) from 2016

Liabilities

Down

$54,568

Down $27,542 (-34%) from 2016

Revenue

Up

$1,035,692

Up $79,033 (+8.3%) from 2016

Expenses

Up

$947,697

Up $83,204 (+9.6%) from 2016

Net Income

Down

$87,995

Down $4,171 (-4.5%) from 2016

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

2017

Assets$368,997
Liabilities$54,568
Net Assets$314,429

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

2017

Revenue$1,035,692
Expenses$947,697
Net Income$87,995
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 12, 2017
Return Version
2016v3.0
Gross Receipts
$1,035,692
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 foundation conducts early literacy programs for young children who are 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$63,500$185,000▲ $121,500
Cash and Non-Interest-Bearing Accounts$214,564$151,624▼ $62,940
Land, Buildings, and Equipment, Net$17,618$19,511▲ $1,893
Total Assets$308,544$368,997▲ $60,453
Other Assets Total$12,862$12,862→ $0
Liabilities
Deferred Revenue$44,872$32,051▼ $12,821
Accounts Payable and Accrued Expenses$37,238$22,517▼ $14,721
Total Liabilities$82,110$54,568▼ $27,542
Net Assets / Fund Balance
Temporarily Rstr Net Assets$55,000$182,500▲ $127,500
Unrestricted Net Assets$171,434$131,929▼ $39,505
Total Net Assets Fund Balance$226,434$314,429▲ $87,995
Total Liabilities and Net Assets / Fund Balance$308,544$368,997▲ $60,453

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,511$239,194-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Maureen RoverPresident
Stephanie MeringoffVice Chairma
Christina TapperDirector
Eileen JudellDirector
Elizabeth RyanDirector
Evelyn HalpertDirector
Helen PennoyerDirector
Kelly HarrisonDirector
Lynn TroykaDirector
Marianne JohnsonDirector
Meghan MagyarSecretary
Marc WeismanTreasurer
Bertrand BrownVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,035,692
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,035,692
Change in Net Assets
$87,995

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,035,692
Total Revenue per Audited Statements
$1,035,692
Total Revenue per Form 990
$1,035,692
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$609,317
Other Expenses$338,380
Total Fundraising Expense$32,085
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$497,828$3,134$18,360$519,322
Occupancy$177,958$5,687$1,286$184,931
Payroll Taxes$50,095$316$1,847$52,258
Fees for Services Management-$37,832-$37,832
Other Employee Benefits$36,174$223$1,340$37,737
Insurance$19,435$2,257$2,606$24,298
Fees for Services Accounting-$23,435-$23,435
Fees for Services Other$19,644$250$250$20,144
Office Expenses$6,007$2,803$5,745$14,555
Depreciation Depletion$8,781$975-$9,756
Other Expenses$2,352$55$360$2,767
Travel$839$20$291$1,150
Total Functional Expenses$838,378$77,234$32,085$947,697

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$947,697
Total Expenses per Audited Statements$947,697
Total Expenses per Form 990$947,697
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
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 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

Maureen rover, president, 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 president is a volunteer and is not paid a salary. The amount that is specified for the president's in-kind contribution of her services, in keeping withe the salaries of the rest of the reading team employees, is significantly lower than the management salaries in comparable organizations. This amount is approved by the board of directors when they approve the budget each year.

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

The reading team president is a volunteer and is not paid a salary. The amount that is specified for the president's in-kind contribution of her services, in keeping withe the salaries of the rest of the reading team employees, is significantly lower than the management salaries in comparable organizations. This amount is approved by the board of directors when they approve the budget each year.

Form 990, Page 6, Part VI, Line 19

The financial statements, governing documents and conflict of itnerest policy are available to the public upon request from maureen rover, phone 212-280-2042, address: the reading team, 2090 adam clayton powell, jr. Boulevard, suite 100, new york, ny 10027. Website: www.readingteam.org.

Filing and Contact Details

Filer

Filer Name
The Reading Team Inc
EIN
13-4125884
Phone
2122802042
Address
2090 ADAM CLAYTON POWELL JR BL 100, NEW YORK, NY 10027

Signing Officer

Name
Maureen Rover
Title
President
Phone
2122802042
Signed
2017-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maureen Rover
Formed
2000
Legal Domicile
Ny
Voting Board Members
13
Independent Board Members
13
Employees
47

Preparer

Firm
LEHMAN FLYNN VOLLARO CPA'S PC
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 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.

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

The reading team after-school program serves 90 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 andj_s_ometimes 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 gain more than 60 percentiles in reading ability their first year in the program. The children typically finish their kindergarten year above the 90th percentile in reading ability. They maintain those extraordinary gains through their early schooling and pass the new york state english language arts exam when they take it in third through fifth grades. Children in the reading team neighborhood schools have an average pass rate of 30% on this exam. 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 f:onversations teaches parents some simple and positive things they can do to support their children's developing literacy.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE READING TEAM AFTER-SCHOOL PROGRAM SERVES 90 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 ANDJ_S_OMETIMES 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 GAIN MORE THAN 60 PERCENTILES IN READING ABILITY THEIR FIRST YEAR IN THE PROGRAM. THE CHILDREN TYPICALLY FINISH THEIR KINDERGARTEN YEAR ABOVE THE 90TH PERCENTILE IN READING ABILITY. THEY MAINTAIN THOSE EXTRAORDINARY GAINS THROUGH THEIR EARLY SCHOOLING AND PASS THE NEW YORK STATE ENGLISH LANGUAGE ARTS EXAM WHEN THEY TAKE IT IN THIRD THROUGH FIFTH GRADES. CHILDREN IN THE READING TEAM NEIGHBORHOOD SCHOOLS HAVE AN AVERAGE PASS RATE OF 30% ON THIS EXAM. 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 F:ONVERSATIONS TEACHES PARENTS SOME SIMPLE AND POSITIVE THINGS THEY CAN DO TO SUPPORT THEIR CHILDREN'S DEVELOPING LITERACY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MAUREEN ROVER, PRESIDENT, 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/ExplanationTxt3THE ORGANIZATION MONITORS AND ENFORCES COMPLIANCE THROUGH INQUIRY OF OFFICERS, DIRECTORS AND EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE READING TEAM PRESIDENT IS A VOLUNTEER AND IS NOT PAID A SALARY. THE AMOUNT THAT IS SPECIFIED FOR THE PRESIDENT'S IN-KIND CONTRIBUTION OF HER SERVICES, IN KEEPING WITHE THE SALARIES OF THE REST OF THE READING TEAM EMPLOYEES, IS SIGNIFICANTLY LOWER THAN THE MANAGEMENT SALARIES IN COMPARABLE ORGANIZATIONS. THIS AMOUNT IS APPROVED BY THE BOARD OF DIRECTORS WHEN THEY APPROVE THE BUDGET EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE READING TEAM PRESIDENT IS A VOLUNTEER AND IS NOT PAID A SALARY. THE AMOUNT THAT IS SPECIFIED FOR THE PRESIDENT'S IN-KIND CONTRIBUTION OF HER SERVICES, IN KEEPING WITHE THE SALARIES OF THE REST OF THE READING TEAM EMPLOYEES, IS SIGNIFICANTLY LOWER THAN THE MANAGEMENT SALARIES IN COMPARABLE ORGANIZATIONS. THIS AMOUNT IS APPROVED BY THE BOARD OF DIRECTORS WHEN THEY APPROVE THE BUDGET EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF ITNEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST FROM MAUREEN ROVER, PHONE 212-280-2042, ADDRESS: THE READING TEAM, 2090 ADAM CLAYTON POWELL, JR. BOULEVARD, SUITE 100, NEW YORK, NY 10027. WEBSITE: WWW.READINGTEAM.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/AddressLine1Txt01111 PARK AVENUE
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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