Civic Intelligence

Read2Succeed Inc

990 • Fiscal year 2017 • EIN 20-3142692

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization ProfileWWW.R2SUCCEED.ORG
9020 SW 137th Avenue Suite 225Miami, FL 33186

(305) 593-2644

Siviq Scores

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

Liabilities / Assets

98th percentile

1.94x

Higher debt load relative to assets than 98% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

77th percentile

0.23x

Higher debt load relative to revenue than 77% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

3rd percentile

-47%

Faster asset growth than 3% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-26%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$82,210

Down $73,643 (-47%) from 2016

Net Assets

Down

-$76,888

Down $76,781 (-71758%) from 2016

Liabilities

Up

$159,098

Up $3,138 (+2.0%) from 2016

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin19th percentile

Revenue

Down

$685,640

Down $239,524 (-26%) from 2016

Expenses

Down

$762,421

Down $105,515 (-12%) from 2016

Net Income

Down

-$76,781

Down $134,009 (-234%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$400K$200K$0-$200KAssets 2011: $42,911Liabilities 2011: $63,580Net Assets 2011: -$20,6692011Assets 2012: $45,034Liabilities 2012: $38,678Net Assets 2012: $6,3562012Assets 2013: $153,901Liabilities 2013: $107,919Net Assets 2013: $45,9822013Assets 2014: $196,454Liabilities 2014: $134,680Net Assets 2014: $61,7742014Assets 2015: $129,689Liabilities 2015: $187,024Net Assets 2015: -$57,3352015Assets 2016: $155,853Liabilities 2016: $155,960Net Assets 2016: -$1072016Assets 2017: $82,210Liabilities 2017: $159,098Net Assets 2017: -$76,8882017Assets 2018: $215,680Liabilities 2018: $345,571Net Assets 2018: -$129,8912018Assets 2019: $133,856Liabilities 2019: $299,406Net Assets 2019: -$165,5502019

Highlighted filing

2017

Assets$82,210
Liabilities$159,098
Net Assets-$76,888
Open 2017 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $607,4012011Expenses 2012: $498,9872012Expenses 2013: $686,3452013Revenue 2014: $862,848Expenses 2014: $847,056Net Income 2014: $15,7922014Revenue 2015: $606,988Expenses 2015: $726,097Net Income 2015: -$119,1092015Revenue 2016: $925,164Expenses 2016: $867,936Net Income 2016: $57,2282016Revenue 2017: $685,640Expenses 2017: $762,421Net Income 2017: -$76,7812017Revenue 2018: $553,481Expenses 2018: $599,071Net Income 2018: -$45,5902018Revenue 2019: $510,936Expenses 2019: $546,597Net Income 2019: -$35,6612019

Highlighted filing

2017

Revenue$685,640
Expenses$762,421
Net Income-$76,781
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.1
Gross Receipts
$685,640
Mission and Program Overview

Mission

To motivate and support children, families, and teachers to achieve success through the power of books. Please read the brochure attached to and made a part of the return through this statement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$17,151$34,884▲ $17,733
Accounts Receivable$72,290$24,048▼ $48,242
Land, Buildings, and Equipment, Net-$9,078-
Prepaid Expenses and Deferred Charges$2,842--
Total Assets$155,853$82,210▼ $73,643
Other Assets Total$63,570$14,200▼ $49,370
Liabilities
Other Liabilities$120,888$125,360▲ $4,472
Accounts Payable and Accrued Expenses$14,918$17,030▲ $2,112
Grants Payable$20,154$16,708▼ $3,446
Total Liabilities$155,960$159,098▲ $3,138
Net Assets / Fund Balance
Unrestricted Net Assets$-107$-76,888▼ $76,781
Total Net Assets Fund Balance$-107$-76,888▼ $76,781
Total Liabilities and Net Assets / Fund Balance$155,853$82,210▼ $73,643

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,078$27,136$36,214
Other Assets Org$2,200--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Jose FuentesChairman
Aljandro NasferrerVice Chairma
Frank FernandezSecretary
Carlos M TruebaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$647,629
Program Service Revenue
$16,492
Investment Income
$0
Other Revenue
$21,519
Change in Net Assets
$-76,781

Audited Revenue Reconciliation

Revenue per Audited Statements
$685,640
Total Revenue per Audited Statements
$685,640
Total Revenue per Form 990
$685,640
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$618,479
Other Expenses$143,942
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$574,266--$574,266
Payroll Taxes$44,213--$44,213
Travel$32,519--$32,519
Occupancy$29,906--$29,906
Fees for Services Other$23,327--$23,327
Depreciation Depletion$12,441--$12,441
Interest$7,132--$7,132
All Other Expenses$6,043--$6,043
Office Expenses$5,373--$5,373
Other Expenses$3,529--$3,529
Fees for Services Legal$858--$858
Information Technology$636--$636
Advertising$520--$520
Fees for Services Accounting$414--$414
Insurance$319--$319
Total Functional Expenses$762,421$0$0$762,421

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$762,421
Total Expenses per Audited Statements$762,421
Total Expenses per Form 990$762,421
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
Td Bank Loc$94,860
Regions Bank Loc$20,000
St Loans - Credit Line$8,000
Loan From Cesar Romero$2,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

“No review was or will be conducted.”

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

“The board of directors deliberates and determines the excecutive directors compensation after reviewing the current year operating budget, his responsibilities and prior year performance.”

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

“The executive director and board of directors determine the compensation of the program coordinators based on comparable data obtained from the department of labor's website and non-profitsalaries.com.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Read2succeed Inc
EIN
20-3142692
Address
9020 SW 137TH AVENUE SUITE 225, MIAMI, FL 33186

Signing Officer

Name
Carlos M Trueba
Title
Treasurer
Phone
3059697440
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diana Daley
Voting Board Members
5
Independent Board Members
5
Employees
55

Preparer

Firm
Rodriguez Trueba & Company
Address
1985 NW 88 COURT SUITE 101, MIAMI, FL 33172
Preparer
Carlos Trueba
Phone
3055932644
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To motivate and support children, families, and teachers to achieve success through the power of books. Please read the brochure attached to and made a part of the return through this statement.”

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

“To motivate and support children, families, and teachers to achieve success through the power of books.”

Form 990, Part XI, Line 9

“Depreciation difference 0 audit adjustment expenses 0”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Depreciation difference 0 audit adjustment expenses 0”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO MOTIVATE AND SUPPORT CHILDREN, FAMILIES, AND TEACHERS TO ACHIEVE SUCCESS THROUGH THE POWER OF BOOKS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS DELIBERATES AND DETERMINES THE EXCECUTIVE DIRECTORS COMPENSATION AFTER REVIEWING THE CURRENT YEAR OPERATING BUDGET, HIS RESPONSIBILITIES AND PRIOR YEAR PERFORMANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS DETERMINE THE COMPENSATION OF THE PROGRAM COORDINATORS BASED ON COMPARABLE DATA OBTAINED FROM THE DEPARTMENT OF LABOR'S WEBSITE AND NON-PROFITSALARIES.COM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DEPRECIATION DIFFERENCE 0 AUDIT ADJUSTMENT EXPENSES 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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IRS990/TotalOtherProgSrvcExpenseAmt021067
IRS990/TotalProgramServiceExpensesAmt0762421
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IRS990/WhistleblowerPolicyInd0false
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ReturnHeader/ReturnTs02018-05-14T16:36:42-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$82,210
Liabilities
$159,098
Net assets
-$76,888
Revenue
$685,640
Expenses
$762,421
Net income
-$76,781
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2019Detailed filing. Detailed filing data is available for this year.$1.34$2.99$1.66$5.11$5.47$0.36
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.16$3.46$1.30$5.53$5.99$0.46
2017Detailed filing. Detailed filing data is available for this year.$0.82$1.59$0.77$6.86$7.62$0.77
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.56$1.56$0.00$9.25$8.68$0.57
2015Summary only. Only limited summary data is available for this year.$1.30$1.87$0.57$6.07$7.26$1.19
2014Summary only. Only limited summary data is available for this year.$1.96$1.35$0.62$8.63$8.47$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$1.08$0.46$6.86
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.39$0.06$4.99
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.64$0.21$6.07