Civic Intelligence

Read Ministries Inc.

990 • Fiscal year 2018 • EIN 20-0222800

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 05, 2019

Organization ProfileWWW.READMINISTRIES.ORG
1001 1st Ave East Suite 100Cambridge, MN 55008

(763) 552-0652

Siviq Scores

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

Liabilities / Assets

66th percentile

0.02x

Higher debt load relative to assets than 66% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

64th percentile

0.01x

Higher debt load relative to revenue than 64% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

71st percentile

16%

Higher net margin than 71% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

83rd percentile

46%

Faster asset growth than 83% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

86th percentile

50%

Faster revenue growth than 86% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets66th percentile

Assets

Up

$226,051

Up $71,695 (+46%) from 2017

Net Assets

Up

$222,558

Up $60,965 (+38%) from 2017

Liabilities

Up

$3,493

Up $10,730 (+148%) from 2017

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin71st percentile

Revenue

Up

$386,647

Up $129,040 (+50%) from 2017

Expenses

Up

$325,682

Up $50,932 (+19%) from 2017

Net Income

Up

$60,965

Up $78,108 (+456%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth83rd percentile

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

$600K$400K$200K$0-$200KAssets 2011: $100,772Liabilities 2011: $222Net Assets 2011: $100,5502011Assets 2012: $104,369Liabilities 2012: $112Net Assets 2012: $104,2572012Assets 2013: $130,986Liabilities 2013: $594Net Assets 2013: $130,3922013Assets 2014: $130,589Liabilities 2014: $14,427Net Assets 2014: $116,1622014Assets 2015: $185,670Liabilities 2015: $12,492Net Assets 2015: $173,1782015Assets 2016: $171,252Liabilities 2016: -$7,484Net Assets 2016: $178,7362016Assets 2017: $154,356Liabilities 2017: -$7,237Net Assets 2017: $161,5932017Assets 2018: $226,051Liabilities 2018: $3,493Net Assets 2018: $222,5582018Assets 2019: $201,672Liabilities 2019: $2,950Net Assets 2019: $198,7222019Assets 2020: $203,621Liabilities 2020: $4,356Net Assets 2020: $199,2652020Assets 2021: $297,487Liabilities 2021: $6,000Net Assets 2021: $291,4872021Assets 2022: $457,365Liabilities 2022: $5,660Net Assets 2022: $451,7052022Assets 2023: $406,534Liabilities 2023: $3,475Net Assets 2023: $403,0592023Assets 2024: $497,140Liabilities 2024: $2,743Net Assets 2024: $494,3972024

Highlighted filing

2018

Assets$226,051
Liabilities$3,493
Net Assets$222,558
Open 2018 Filing

Operations Trend

Revenue Growth86th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $330,9912011Expenses 2012: $294,8812012Revenue 2013: $305,928Expenses 2013: $279,793Net Income 2013: $26,1352013Revenue 2014: $249,549Expenses 2014: $263,779Net Income 2014: -$14,2302014Revenue 2015: $360,262Expenses 2015: $303,246Net Income 2015: $57,0162015Revenue 2016: $312,438Expenses 2016: $306,880Net Income 2016: $5,5582016Revenue 2017: $257,607Expenses 2017: $274,750Net Income 2017: -$17,1432017Revenue 2018: $386,647Expenses 2018: $325,682Net Income 2018: $60,9652018Revenue 2019: $312,766Expenses 2019: $336,602Net Income 2019: -$23,8362019Revenue 2020: $353,504Expenses 2020: $352,961Net Income 2020: $5432020Revenue 2021: $456,241Expenses 2021: $364,019Net Income 2021: $92,2222021Revenue 2022: $874,610Expenses 2022: $714,392Net Income 2022: $160,2182022Revenue 2023: $502,324Expenses 2023: $550,970Net Income 2023: -$48,6462023Revenue 2024: $665,502Expenses 2024: $574,164Net Income 2024: $91,3382024

Highlighted filing

2018

Revenue$386,647
Expenses$325,682
Net Income$60,965
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 5, 2019
Return Version
2018v3.1
Gross Receipts
$386,647
Mission and Program Overview

Mission

READ Ministries seeks to enhance and support the effectiveness of Christian ministries in Ukraine and other former Soviet Union countries. This support comes primarily from books, and other forms of media and training.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$108,703$159,778▲ $51,075
Cash and Non-Interest-Bearing Accounts$42,268$62,988▲ $20,720
Prepaid Expenses and Deferred Charges$3,385$3,285▼ $100
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$154,356$226,051▲ $71,695
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$2,932$3,493▲ $561
Other Liabilities$-10,169--
Total Liabilities$-7,237$3,493▲ $10,730
Net Assets / Fund Balance
Unrestricted Net Assets$161,593$222,558▲ $60,965
Total Net Assets Fund Balance$161,593$222,558▲ $60,965
Total Liabilities and Net Assets / Fund Balance$154,356$226,051▲ $71,695

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$3,833$3,833
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Dr Paul SandersChairman
Al BaasDirector
David MelinDirector
Oksana ElsingerDirector
Rich SchoenertDirector
Vladimir DegtyaryovDirector
Kevin BarnhartPart Yr Director
Rollin S ReasonerEmeritus
Oscar HuertaPart Yr Officer
Dennis EicherPart Yr Sec/Tre
Mark PoundSec/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$385,572
Program Service Revenue
$0
Investment Income
$1,075
Other Revenue
$0
All Other Contributions
$385,572
Change in Net Assets
$60,965
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$193,369
Salaries, Compensation, and Employee Benefits$132,313
Total Fundraising Expense$8,924
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$132,313-$132,313
Advertising-$12,708$3,108$15,816
Travel$11,240$1,908-$13,148
Information Technology$304$8,305$250$8,859
Other Expenses$6,565$5,905$4,949$4,949
All Other Expenses-$1,402$350$1,752
Insurance-$1,408-$1,408
Office Expenses-$1,320-$1,320
Conferences and Meetings-$462-$462
Fees for Services Accounting-$158-$158
Total Functional Expenses$142,472$174,286$8,924$325,682
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
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, Part VI, Line 11B: Form 990 Review Process

“A draft of the 990 was given and discussed at a board meeting prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The chairman does an annual review of all directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“990 upon request. Other financial documents not open for public view.”

Filing and Contact Details

Filer

Filer Name
Read Ministries
EIN
20-0222800
Phone
7635520652
Address
1001 1ST AVE EAST SUITE 100, CAMBRIDGE, MN 55008

Signing Officer

Name
Dr Paul Sanders
Title
Chairman
Signed
2019-11-05

Organization Details

Principal Officer
Dr Paul Sanders
Formed
2003
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
15
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IRS990/Desc0In 2018 READ Ministries sponsored and conducted various Christian literature projects in Ukraine, Belarus and Central Asia involving the training of evangelical church workers and the distribution of Christian literature and media resources. Following is a summary of our activities in 2018:Literature Specialist Development and Church Book Distribution Program In 2018 READ continued to sponsor and support our Literature Specialist Development Programs at Kremenchug Evangelical Seminary in Kremenchug, Ukraine, Kyiv Regional Bible College in Kyiv, Ukraine and Tavrisky Christian Institute in Kherson, Ukraine. This training program takes place over a two year period and includes an expanded emphasis on counseling in order to equip graduates to meet growing stress-related needs in Ukraine. The program in Kremenchug, Ukraine culminated in May of 2018 with the graduation of 20 students and their respective churches resourced with the final installment of books completing their theological library. The programs in Kyiv Regional Bible College and Tavrisky Christian Institute started in 2018 and will continue through 2020.Since 2000, 493 students have graduated from our Literature Specialist Development programs. These students are from all parts of the former Soviet Union. A total of 143,700 books have been distributed to these students enabling them to start and continue a Christian book ministry within their respective churches. In this collection of books there are books for children, youth and adults. There are books for believers and non-believers. These libraries are helping believers and seekers find answers to their spiritual and practical questions. Seeking advice and suggestions from the Literature Specialist in solving a family, spiritual or personal problem is often the focus of the inquiry. In reality, the Literature Specialist often functions as a pastor especially to women. The Literature Specialist is essential for the successful operation and effectiveness of a church and its library ministry.In 2016 READ made a three-year commitment to equip and train 12 Ukrainians in a new cross-cultural missions training center at the Kremenchug Regional Bible College. This training continued throughout 2018. These students will graduate in 2019 and will be involved in cross-cultural missions within and beyond the borders of Ukraine. Church Leaders Training and Resourcing ProjectsIn 2018 READ continued our focus on our Church Leaders Training and Resourcing Projects. In partnership with United Spiritual Seminary and TCI, this focus included training and resourcing church leaders in the countries of Kyrgystan and Uzbekistan with theological materials. In the spring of 2018, an international conference sponsored by READ and the EAAA and hosted by the Kremenchug Evangelical Seminary was held on the theme of church library ministry. Approximately 45 delegates attended from nearly a dozen countries.In 2018 READ continued our Masters Library Project. Approximately 30 students from Ukraine, Georgia and other countries of the former Soviet Union were assisted with 300 books to enhance their graduate level studies.Similarly, in 2018 READ partnered with the Euro-Asian Accrediting Association (EAAA) to provide much needed theological books to the graduates of accredited programs in EAAA schools. This project has become known as our Graduates Library Project. In 2018, approximately 200 graduates were presented with collections of books at the time of their graduation. This is a 5 year program, commencing in 2015 and culminating in 2019.In total and to date, READ has been able to enhance and resource the theological education and ministry efforts of over 6,800 church leaders in Ukraine, Belarus, Georgia and countries of Central Asia. These resources provide church leaders with the theological tools helping them communicate Gods love to those who are starved for His Word.Church Based Social Outreach Literature ProjectsCamel Trilogy Project - in 20
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IRS990/MissionDesc0READ Ministries seeks to enhance and support the effectiveness of Christian ministries in Ukraine and other former Soviet Union countries. This support comes primarily from books, and other forms of media and training.
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IRS990/OtherExpensesGrp/Desc1Short Term Mission Expenses
IRS990/OtherExpensesGrp/Desc2Printing and Publications
IRS990/OtherExpensesGrp/Desc3Catering
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IRS990/OtherExpensesGrp/FundraisingAmt14949
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08397
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15905
IRS990/OtherExpensesGrp/ProgramServicesAmt0124363
IRS990/OtherExpensesGrp/ProgramServicesAmt16565
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IRS990/OtherExpensesGrp/TotalAmt114962
IRS990/OtherExpensesGrp/TotalAmt26172
IRS990/OtherExpensesGrp/TotalAmt34949
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IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0132313
IRS990/OtherSalariesAndWagesGrp/TotalAmt0132313
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
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IRS990/PrincipalOfficerNm0DR PAUL SANDERS
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0311670
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0360098
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0249214
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01563479
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IRS990ScheduleA/PublicSupportPY170Pct00.99850
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01563479
IRS990ScheduleA/TotalSupportAmt01566503
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03833
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE 990 WAS GIVEN AND DISCUSSED AT A BOARD MEETING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CHAIRMAN DOES AN ANNUAL REVIEW OF ALL DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 UPON REQUEST. OTHER FINANCIAL DOCUMENTS NOT OPEN FOR PUBLIC VIEW.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0226051
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IRS990/TotalLiabilitiesGrp/BOYAmt0-7237
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IRS990/TotalProgramServiceExpensesAmt0142472

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$226,051
Liabilities
$3,493
Net assets
$222,558
Revenue
$386,647
Expenses
$325,682
Net income
$60,965
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.97$0.03$4.94$6.66$5.74$0.91
2023Detailed filing. Detailed filing data is available for this year.$4.07$0.03$4.03$5.02$5.51$0.49
2022Detailed filing. Detailed filing data is available for this year.$4.57$0.06$4.52$8.75$7.14$1.60
2021Detailed filing. Detailed filing data is available for this year.$2.97$0.06$2.91$4.56$3.64$0.92
2020Detailed filing. Detailed filing data is available for this year.$2.04$0.04$1.99$3.54$3.53$0.01
2019Detailed filing. Detailed filing data is available for this year.$2.02$0.03$1.99$3.13$3.37$0.24
2018Detailed filing. Detailed filing data is available for this year.$2.26$0.03$2.23$3.87$3.26$0.61
2017Detailed filing. Detailed filing data is available for this year.$1.54$0.07$1.62$2.58$2.75$0.17
2016Detailed filing. Detailed filing data is available for this year.$1.71$0.07$1.79$3.12$3.07$0.06
2015Detailed filing. Detailed filing data is available for this year.$1.86$0.12$1.73$3.60$3.03$0.57
2014Detailed filing. Detailed filing data is available for this year.$1.31$0.14$1.16$2.50$2.64$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.31$0.01$1.30$3.06$2.80$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.00$1.04$2.95
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.00$1.01$3.31