Civic Intelligence

Read2Succeed Inc

990 • Fiscal year 2019 • EIN 20-3142692

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 05, 2019

Organization Profilewww.r2succeed.org
17033 South Dixie HwyPalmetto Bay, FL 33157

(305) 969-7440

Siviq Scores

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

Liabilities / Assets

98th percentile

2.24x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

0.59x

Higher debt load relative to revenue than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

24th percentile

-7.0%

Higher net margin than 24% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

5th percentile

-38%

Faster asset growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

27th percentile

-7.7%

Faster revenue growth than 27% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$133,856

Down $81,824 (-38%) from 2018

Net Assets

Down

-$165,550

Down $35,659 (-27%) from 2018

Liabilities

Down

$299,406

Down $46,165 (-13%) from 2018

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin24th percentile

Revenue

Down

$510,936

Down $42,545 (-7.7%) from 2018

Expenses

Down

$546,597

Down $52,474 (-8.8%) from 2018

Net Income

Up

-$35,661

Up $9,929 (+22%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth5th 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

2019

Assets$133,856
Liabilities$299,406
Net Assets-$165,550
Open 2019 Filing

Operations Trend

Revenue Growth27th 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

2019

Revenue$510,936
Expenses$546,597
Net Income-$35,661
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 5, 2019
Return Version
2018v3.1
Gross Receipts
$510,936
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.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$120,018$67,960▼ $52,058
Cash and Non-Interest-Bearing Accounts$29,945$17,998▼ $11,947
Prepaid Expenses and Deferred Charges$16,902$5,079▼ $11,823
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$215,682$133,856▼ $81,826
Other Assets Total$48,817$42,819▼ $5,998
Liabilities
Other Liabilities$276,523$265,911▼ $10,612
Accounts Payable and Accrued Expenses$19,432$17,220▼ $2,212
Grants Payable$49,616$16,275▼ $33,341
Total Liabilities$345,571$299,406▼ $46,165
Net Assets / Fund Balance
Unrestricted Net Assets$-129,889$-165,550▼ $35,661
Total Net Assets Fund Balance$-129,889$-165,550▼ $35,661
Total Liabilities and Net Assets / Fund Balance$215,682$133,856▼ $81,826

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$18,195$18,195
Other Assets Org$42,819--
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Jose FuentesChairman
Diana DaleyExecutive Director
Frank FernandezSecretary
Carlos M TruebaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$510,936
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,480
Change in Net Assets
$-35,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$440,847
Other Expenses$105,750
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$381,615--$381,615
Other Employee Benefits$29,858--$29,858
Payroll Taxes$29,374--$29,374
Occupancy$28,416--$28,416
Travel$18,150--$18,150
Interest$11,475--$11,475
All Other Expenses$4,483$503-$4,986
Office Expenses-$4,905-$4,905
Depreciation Depletion$3,500--$3,500
Other Expenses$2,434--$2,434
Insurance$2,192--$2,192
Fees for Services Accounting-$1,750-$1,750
Total Functional Expenses$539,439$7,158$0$546,597
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
SBA Loan$173,302
TD Bank LOC$44,860
Regions Bank LOC$20,011
Accrued Leave & Payroll$18,987
ST Loans - Credit Line$8,000
Salaries Payable$751
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, Part VI, Section B, line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section B, line 15

“Form 990, Part VI, Line 15a - Compensation Process for Top Officials. The Board of Directors deliberates and determines the Excecutive Directors compensation after reviewing the current year operating budget, hisresponsibilities and prior year performance. Form 990, Part VI, Line 15b - Compensation Process for Officers. The Executive Director and Board of Directors determine the compensationof the Program Coordinators based on comparable data obtained from theDepartment of Labor's website and Non-profitsalaries.com.”

Form 990, Part VI, Section C, line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Read2Succeed Inc
EIN
20-3142692
Phone
3059697440
Address
17033 South Dixie Hwy, Palmetto Bay, FL 33157

Signing Officer

Name
Carlos M Trueba
Title
Treasurer
Phone
3059697440
Signed
2019-12-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Diana Daley
Formed
2005
Legal Domicile
Fl
Voting Board Members
5
Independent Board Members
5
Employees
42
Volunteers
0

Preparer

Firm
Garcia Espinosa Miyares Rodriguez Trueba
Address
2600 Douglas Road Suite 800, Coral Gables, FL 33134
Phone
3055295440
Supplemental Narrative

Additional Explanations

Form 990- Organization'S Mission

“Read2Succeed is a community partnership that empowers youth and families by providing academic enrichment, educational & literacy services.”

Raw XML Appendix369 raw XML fields

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/ExplanationTxt0Read2Succeed is a community partnership that empowers youth and families by providing academic enrichment, educational & literacy services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Form 990, Part VI, Line 15a - Compensation Process for Top Officials. The Board of Directors deliberates and determines the Excecutive Directors compensation after reviewing the current year operating budget, hisresponsibilities and prior year performance. Form 990, Part VI, Line 15b - Compensation Process for Officers. The Executive Director and Board of Directors determine the compensationof the Program Coordinators based on comparable data obtained from theDepartment of Labor's website and Non-profitsalaries.com.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990- Organization's Mission
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0510936
IRS990/TotalEmployeeCnt042
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07158
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0539439
IRS990/TotalFunctionalExpensesGrp/TotalAmt0546597
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0345571
IRS990/TotalLiabilitiesEOYAmt0299406
IRS990/TotalLiabilitiesGrp/BOYAmt0345571
IRS990/TotalLiabilitiesGrp/EOYAmt0299406
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-129889
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt08092
IRS990/TotalProgramServiceExpensesAmt0539439
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0133856
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt018150
IRS990/TravelGrp/TotalAmt018150
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0http://www.r2succeed.org/
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Carlos M Trueba
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum03059697440
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-12-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Read2Succeed Inc
ReturnHeader/Filer/BusinessNameControlTxt0READ
ReturnHeader/Filer/EIN0203142692
ReturnHeader/Filer/PhoneNum03059697440
ReturnHeader/Filer/USAddress/AddressLine1Txt017033 South Dixie Hwy
ReturnHeader/Filer/USAddress/CityNm0Palmetto Bay
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0825CAFD6AAE2324659D20D143BF99366131EB2C4
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0192.110.170.154
ReturnHeader/FilingSecurityInformation/IPDt02019-12-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm016:38:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0830696713
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Garcia Espinosa Miyares Rodriguez Trueba
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02600 Douglas Road Suite 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Coral Gables
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033134
ReturnHeader/PreparerPersonGrp/PhoneNum03055295440
ReturnHeader/PreparerPersonGrp/PreparationDt02019-12-05
ReturnHeader/ReturnTs02019-12-06T16:24:47-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$133,856
Liabilities
$299,406
Net assets
-$165,550
Revenue
$510,936
Expenses
$546,597
Net income
-$35,661
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