Civic Intelligence

Read to Them Inc.

990 • Fiscal year 2023 • EIN 20-0953916

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 30, 2024

Organization ProfileREADTOTHEM.ORG

View Organization Page

2201 West Broad StreetRichmond, VA 23220

(804) 367-3195

Siviq Scores

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

Liabilities / Assets

66th percentile

0.19x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

54th percentile

0.11x

Higher debt load relative to revenue than 54% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

59th percentile

8.5%

Higher net margin than 59% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

83rd percentile

$150,891

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

81st percentile

28%

Faster asset growth than 81% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

52nd percentile

8.0%

Faster revenue growth than 52% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets66th percentile

Assets

Flat

$2,555,549

Flat from 2023

Net Assets

Flat

$2,082,436

Flat from 2023

Liabilities

Flat

$473,113

Flat from 2023

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin59th percentile

Revenue

Flat

$4,418,037

Flat from 2023

Expenses

Flat

$4,042,290

Flat from 2023

Net Income

Flat

$375,747

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $70,153Liabilities 2011: $0Net Assets 2011: $70,1532011Assets 2012: $63,560Liabilities 2012: $2,920Net Assets 2012: $60,6402012Assets 2013: $25,551Liabilities 2013: $4,402Net Assets 2013: $21,1492013Assets 2014: $68,567Liabilities 2014: $2,706Net Assets 2014: $65,8612014Assets 2015: $246,271Liabilities 2015: $184,915Net Assets 2015: $61,3562015Assets 2016: $231,747Liabilities 2016: $167,480Net Assets 2016: $64,2672016Assets 2017: $130,067Liabilities 2017: $7,565Net Assets 2017: $122,5022017Assets 2018: $179,110Liabilities 2018: $30,113Net Assets 2018: $148,9972018Assets 2019: $120,548Liabilities 2019: $27,041Net Assets 2019: $93,5072019Assets 2020: $352,034Liabilities 2020: $106,709Net Assets 2020: $245,3252020Assets 2021: $1,156,856Liabilities 2021: $97,048Net Assets 2021: $1,059,8082021Assets 2022: $2,002,993Liabilities 2022: $304,370Net Assets 2022: $1,698,6232022Assets 2023: $2,555,549Liabilities 2023: $473,113Net Assets 2023: $2,082,4362023Assets 2023: $2,555,549Liabilities 2023: $473,113Net Assets 2023: $2,082,4362023Assets 2025: $3,713,931Liabilities 2025: $647,343Net Assets 2025: $3,066,5882025

Highlighted filing

2023

Assets$2,555,549
Liabilities$473,113
Net Assets$2,082,436
Open 2023 Filing

Operations Trend

Revenue Growth52nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $172,637Expenses 2011: $120,259Net Income 2011: $52,3782011Expenses 2012: $266,3872012Revenue 2013: $416,549Expenses 2013: $455,286Net Income 2013: -$38,7372013Revenue 2014: $547,313Expenses 2014: $525,095Net Income 2014: $22,2182014Revenue 2015: $1,295,445Expenses 2015: $1,299,550Net Income 2015: -$4,1052015Revenue 2016: $1,451,082Expenses 2016: $1,449,977Net Income 2016: $1,1052016Revenue 2017: $1,888,582Expenses 2017: $1,869,947Net Income 2017: $18,6352017Revenue 2018: $2,528,980Expenses 2018: $2,502,258Net Income 2018: $26,7222018Revenue 2019: $2,896,389Expenses 2019: $2,951,879Net Income 2019: -$55,4902019Revenue 2020: $1,664,711Expenses 2020: $1,512,893Net Income 2020: $151,8182020Revenue 2021: $3,662,861Expenses 2021: $2,839,228Net Income 2021: $823,6332021Revenue 2022: $4,089,723Expenses 2022: $3,477,584Net Income 2022: $612,1392022Revenue 2023: $4,418,037Expenses 2023: $4,042,290Net Income 2023: $375,7472023Revenue 2023: $4,418,037Expenses 2023: $4,042,290Net Income 2023: $375,7472023Revenue 2025: $4,859,564Expenses 2025: $4,355,995Net Income 2025: $503,5692025

Highlighted filing

2023

Revenue$4,418,037
Expenses$4,042,290
Net Income$375,747
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 30, 2024
Return Version
2022v5.0
Gross Receipts
$4,418,037
Mission and Program Overview

Mission

We use the power of reading aloud together to build connections across families, schools, and communities to cultivate students learning and success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,562,507$774,967▼ $787,540
Investments in Publicly Traded Securities-$573,105-
Savings and Temporary Cash Investments$30,036$530,342▲ $500,306
Accounts Receivable$341,691$353,673▲ $11,982
Inventories for Sale or Use$58,461$62,350▲ $3,889
Land, Buildings, and Equipment, Net$8,255$27,190▲ $18,935
Prepaid Expenses and Deferred Charges$2,043$2,043→ $0
Total Assets$2,002,993$2,555,549▲ $552,556
Other Assets Total-$231,879-
Liabilities
Other Liabilities-$250,551-
Accounts Payable and Accrued Expenses$240,358$173,076▼ $67,282
Deferred Revenue$64,012$49,486▼ $14,526
Total Liabilities$304,370$473,113▲ $168,743
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,646,707$2,082,436▲ $435,729
Net Assets With Donor Restrictions$51,916--
Total Net Assets Fund Balance$1,698,623$2,082,436▲ $383,813
Total Liabilities and Net Assets / Fund Balance$2,002,993$2,555,549▲ $552,556

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$27,190$41,822$69,012
Other Assets Org$231,879--
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christa DonohueExecutive DiFT$130,331$20,560$150,891
Christa DonohueExecutive Director-$130,331$20,560$150,891
Lyman CoffeyDirector ofFT$107,444-$107,444

Board Members and Trustees

NameTitle
Daniel DaglishChair
Elizabeth BlueVice Chair
Elizabeth VosmikDirector
Jessica AllisonDirector
Kyle ElliotDirector
Lauren TuckerDirector
Ruth ZajurDirector
Cathy PlagemanSecretary
Doug WoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$185,788
Program Service Revenue
$4,214,580
Investment Income
$17,669
Other Revenue
$0
All Other Contributions
$185,788
Change in Net Assets
$375,747

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,418,037
Revenue Not Reported on Form 990
$8,066
Total Revenue per Audited Statements
$4,426,103
Total Revenue per Form 990
$4,418,037
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,161,372
Salaries, Compensation, and Employee Benefits$880,918
Total Fundraising Expense$113,401
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$436,382$148,465$48,266$633,113
Current Officers, Directors, Trustees, and Key Employees$79,306$64,425$23,897$167,628
Advertising-$146,191-$146,191
Occupancy-$117,901-$117,901
Office Expenses$79,886$7,615$2,081$89,582
Insurance-$74,563-$74,563
Payroll Taxes$40,017$17,067$5,600$62,684
Fees for Services Other$6,428$20,801$24,000$51,229
Information Technology$18,285$16,547-$34,832
All Other Expenses-$9,644$7,957$17,601
Pension Plan Contributions$11,141$4,752$1,600$17,493
Other Expenses$16,375$13,811-$13,811
Depreciation Depletion-$6,179-$6,179
Travel-$4,330-$4,330
Fees for Services Legal-$2,915-$2,915
Fees for Services Accounting-$2,443-$2,443
Total Functional Expenses$3,252,465$676,424$113,401$4,042,290

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,042,290
Total Expenses per Audited Statements$4,042,290
Total Expenses per Form 990$4,042,290
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
Right of Use Liability - Long-term$174,592
Right of Use Liability - Current$75,959
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
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, Page 6, Part VI, Line 7A

“The board nominates and votes on all incoming board members.”

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

“The form 990 is reviewed by the executive director and the finance committee of the board, which includes the board treasurer and chair.”

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

“All members of the board of directors are subject to the rtt conflict of interest policy. Directors and officers have a duty to disclose conflicts of interest. Each director or officer shall sign annually a statement of affirmation, understanding, and compliance with the conflict of interest policy. The board of directors' reviews disclosures and determines by majority vote whether a conflict of interest exists or can reasonably be construed to exist. Conflicted members are not permitted to participate or attend, vote on, or use his or her personal influence in connection with the discussions, deliberations, or vote with respect to such contract, transaction, arrangement, or related matters affecting rtt. The violation of this conflicts of interest policy is a serious matter and may constitute "cause" for removal or termination of a director or officer.”

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

“The executive committee researched comparable compensation data for the executive director position and also considered the organization's finances. They approved a salary amount which was sent to the full board for approval.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are available for public viewing upon request. The form 990 is available at guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Read to Them Inc
EIN
20-0953916
Phone
8043673195
Address
2201 WEST BROAD STREET, RICHMOND, VA 23220

Signing Officer

Name
Daniel Daglish
Title
Chair
Phone
8043673195
Signed
2024-01-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christa Donohue
Formed
2003
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
13

Preparer

Firm
Meadows Urquhart Acree & Cook Llp
Address
1802 BAYBERRY CT 102, RICHMOND, VA 23226-3773
Preparer
David C Acree CPA
Phone
8042495786
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a virginia not-for-profit corporation which is not classified as a private foundation by the internal revenue service and is exempt from income tax under section 501(c)(3) of the internal revenue code. The organization has concluded that it does not have any material uncertain tax positions to be accounted for in the financial statements as of june 30, 2023 and 2022.”

Raw XML AppendixShowing 400 of 465 raw XML fields

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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0130668
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02896384
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02896384
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt041822
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt175959
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RIGHT OF USE LIABILITY - LONG-TERM
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RIGHT OF USE LIABILITY - CURRENT
IRS990ScheduleD/RevenueNotReportedAmt08066
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A VIRGINIA NOT-FOR-PROFIT CORPORATION WHICH IS NOT CLASSIFIED AS A PRIVATE FOUNDATION BY THE INTERNAL REVENUE SERVICE AND IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS CONCLUDED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE ACCOUNTED FOR IN THE FINANCIAL STATEMENTS AS OF JUNE 30, 2023 AND 2022.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt0250551
IRS990ScheduleD/TotalRevenuePerForm990Amt04418037
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
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IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt020560
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHRISTA DONOHUE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD NOMINATES AND VOTES ON ALL INCOMING BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE FINANCE COMMITTEE OF THE BOARD, WHICH INCLUDES THE BOARD TREASURER AND CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL MEMBERS OF THE BOARD OF DIRECTORS ARE SUBJECT TO THE RTT CONFLICT OF INTEREST POLICY. DIRECTORS AND OFFICERS HAVE A DUTY TO DISCLOSE CONFLICTS OF INTEREST. EACH DIRECTOR OR OFFICER SHALL SIGN ANNUALLY A STATEMENT OF AFFIRMATION, UNDERSTANDING, AND COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS' REVIEWS DISCLOSURES AND DETERMINES BY MAJORITY VOTE WHETHER A CONFLICT OF INTEREST EXISTS OR CAN REASONABLY BE CONSTRUED TO EXIST. CONFLICTED MEMBERS ARE NOT PERMITTED TO PARTICIPATE OR ATTEND, VOTE ON, OR USE HIS OR HER PERSONAL INFLUENCE IN CONNECTION WITH THE DISCUSSIONS, DELIBERATIONS, OR VOTE WITH RESPECT TO SUCH CONTRACT, TRANSACTION, ARRANGEMENT, OR RELATED MATTERS AFFECTING RTT. THE VIOLATION OF THIS CONFLICTS OF INTEREST POLICY IS A SERIOUS MATTER AND MAY CONSTITUTE "CAUSE" FOR REMOVAL OR TERMINATION OF A DIRECTOR OR OFFICER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE COMMITTEE RESEARCHED COMPARABLE COMPENSATION DATA FOR THE EXECUTIVE DIRECTOR POSITION AND ALSO CONSIDERED THE ORGANIZATION'S FINANCES. THEY APPROVED A SALARY AMOUNT WHICH WAS SENT TO THE FULL BOARD FOR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL GOVERNING DOCUMENTS ARE AVAILABLE FOR PUBLIC VIEWING UPON REQUEST. THE FORM 990 IS AVAILABLE AT GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TotalAssetsGrp/EOYAmt02555549
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0185788
IRS990/TotalEmployeeCnt013

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,555,549
Liabilities
$473,113
Net assets
$2,082,436
Revenue
$4,418,037
Expenses
$4,042,290
Net income
$375,747
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.71$0.65$3.07$4.86$4.36$0.50
2023Detailed filing. Detailed filing data is available for this year.$2.56$0.47$2.08$4.42$4.04$0.38
2023Summary only. Only limited summary data is available for this year.$2.56$0.47$2.08$4.42$4.04$0.38
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.00$0.30$1.70$4.09$3.48$0.61
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.10$1.06$3.66$2.84$0.82
2020Summary only. Only limited summary data is available for this year.$0.35$0.11$0.25$1.66$1.51$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.03$0.09$2.90$2.95$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.03$0.15$2.53$2.50$0.03
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.13$0.01$0.12$1.89$1.87$0.02
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.23$0.17$0.06$1.45$1.45$0.00
2015Summary only. Only limited summary data is available for this year.$0.25$0.18$0.06$1.30$1.30$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.55$0.53$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.02$0.42$0.46$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.00$0.06$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.07$0.00$0.07$0.17$0.12$0.05