Civic Intelligence

Read and Feed

990 • Fiscal year 2022 • EIN 20-3246207

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 24, 2023

Organization Profilereadandfeed.org
171-10 High House RoadCary, NC 27511

(919) 463-9744

Siviq Scores

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

Liabilities / Assets

38th percentile

0.01x

Higher debt load relative to assets than 38% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

38th percentile

0.01x

Higher debt load relative to revenue than 38% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Net Margin

87th percentile

56%

Higher net margin than 87% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$88,971

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Source year 2022

Asset Growth

87th percentile

94%

Faster asset growth than 87% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

84th percentile

87%

Faster revenue growth than 84% of similar nonprofits.

2022 filings • NTEE P20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$1,230,030

Up $594,600 (+94%) from 2021

Net Assets

Up

$1,216,578

Up $607,227 (+100%) from 2021

Liabilities

Down

$13,452

Down $12,627 (-48%) from 2021

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin87th percentile

Revenue

Up

$1,083,677

Up $503,032 (+87%) from 2021

Expenses

Down

$476,450

Down $26,469 (-5.3%) from 2021

Net Income

Up

$607,227

Up $529,501 (+681%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $79,778Liabilities 2011: $1,045Net Assets 2011: $78,7332011Assets 2012: $130,471Liabilities 2012: $5,422Net Assets 2012: $125,0492012Assets 2013: $225,054Liabilities 2013: $0Net Assets 2013: $225,0542013Assets 2014: $239,918Liabilities 2014: $0Net Assets 2014: $239,9182014Assets 2015: $271,826Liabilities 2015: $0Net Assets 2015: $271,8262015Assets 2016: $470,892Liabilities 2016: $0Net Assets 2016: $470,8922016Assets 2017: $733,312Liabilities 2017: $7,942Net Assets 2017: $725,3702017Assets 2018: $667,946Liabilities 2018: $15,145Net Assets 2018: $652,8012018Assets 2019: $527,904Liabilities 2019: $11,047Net Assets 2019: $516,8572019Assets 2020: $548,391Liabilities 2020: $16,766Net Assets 2020: $531,6252020Assets 2021: $635,430Liabilities 2021: $26,079Net Assets 2021: $609,3512021Assets 2022: $1,230,030Liabilities 2022: $13,452Net Assets 2022: $1,216,5782022Assets 2023: $989,360Liabilities 2023: $53,395Net Assets 2023: $935,9652023

Highlighted filing

2022

Assets$1,230,030
Liabilities$13,452
Net Assets$1,216,578
Open 2022 Filing

Operations Trend

Revenue Growth84th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $106,137Expenses 2011: $134,194Net Income 2011: -$28,0572011Revenue 2012: $227,510Expenses 2012: $181,194Net Income 2012: $46,3162012Revenue 2013: $346,189Expenses 2013: $246,184Net Income 2013: $100,0052013Revenue 2014: $270,182Expenses 2014: $260,453Net Income 2014: $9,7292014Revenue 2015: $291,792Expenses 2015: $259,508Net Income 2015: $32,2842015Revenue 2016: $515,947Expenses 2016: $316,881Net Income 2016: $199,0662016Revenue 2017: $441,553Expenses 2017: $356,776Net Income 2017: $84,7772017Revenue 2018: $373,677Expenses 2018: $422,939Net Income 2018: -$49,2622018Revenue 2019: $177,566Expenses 2019: $240,203Net Income 2019: -$62,6372019Revenue 2020: $508,945Expenses 2020: $470,870Net Income 2020: $38,0752020Revenue 2021: $580,645Expenses 2021: $502,919Net Income 2021: $77,7262021Revenue 2022: $1,083,677Expenses 2022: $476,450Net Income 2022: $607,2272022Revenue 2023: $628,125Expenses 2023: $468,739Net Income 2023: $159,3862023

Highlighted filing

2022

Revenue$1,083,677
Expenses$476,450
Net Income$607,227
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 24, 2023
Return Version
2021v4.2
Gross Receipts
$1,085,509
Mission and Program Overview

Mission

Read and Feed is a non-profit whose mission is to give low-income children an appetite for reading. We partner with elementary schools, churches, community centers and other non-profit organizations to identify at-risk children in grades K-5 who have fallen behind in reading proficiency. We take our mobile classrooms into the community four nights a week for 33 weeks to feed and tutor these children.

Our mission is to strengthen literacy skills among under-served elementary school children, and provide meals in a nurturing neighborhood environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$40,785$520,420▲ $479,635
Savings and Temporary Cash Investments$328,371$335,180▲ $6,809
Cash and Non-Interest-Bearing Accounts$173,051$285,048▲ $111,997
Inventories for Sale or Use$60,000$60,000→ $0
Land, Buildings, and Equipment, Net$27,266$21,682▼ $5,584
Prepaid Expenses and Deferred Charges$5,532$6,098▲ $566
Accounts Receivable$425$1,602▲ $1,177
Total Assets$635,430$1,230,030▲ $594,600
Liabilities
Accounts Payable and Accrued Expenses$26,079$13,452▼ $12,627
Total Liabilities$26,079$13,452▼ $12,627
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$609,351$1,216,578▲ $607,227
Total Net Assets Fund Balance$609,351$1,216,578▲ $607,227
Total Liabilities and Net Assets / Fund Balance$635,430$1,230,030▲ $594,600

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,682$128,618$150,300
Other Land Buildings-$11,815$11,815
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry Overton ShudraExecutive DirectorFT$81,875$7,096$88,971

Board Members and Trustees

NameTitle
Jan FrantzFounder & Past President
Kathryn RaymondPresident
Christopher MeredithVice President
Matt MerlettiVice President
Austin YarberDirector
Benjamin SwaneyDirector
Carmita BassDirector
Juan Carlos VillalobosDirector
Kristina VrabelDirector
Mayra SzetoDirector
Miriam AndrewsDirector
Nancy VodickaDirector
Nia DokasDirector
Niya FonvilleDirector
Samantha HatemDirector
Sue StevensSecretary
Zhiqiang Wilson ZhangTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,083,253
Program Service Revenue
$0
Investment Income
$386
Other Revenue
$38
All Other Contributions
$643,253
Change in Net Assets
$607,227

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Books and Publications-$27,084fair value
Food Inventory30$3,304fair value
Securities Publicly Traded1$1,832fair value
Total Noncash Contributions31$32,220-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$264,042
Other Expenses$212,051
Total Fundraising Expense$46,601
Grants and Similar Amounts Paid$357
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$84,833$22,104$22,546$129,483
Current Officers, Directors, Trustees, and Key Employees$74,918$24,973-$99,891
Other Expenses$39,079--$39,079
Occupancy$26,242$3,075$1,466$30,783
Depreciation Depletion$19,084--$19,084
Payroll Taxes$13,106$2,261$2,026$17,393
Other Employee Benefits$15,000$2,275-$17,275
Information Technology$9,478$2,753$4,699$16,930
Advertising$6,475$2,770$5,649$14,894
Fees for Services Accounting-$14,641-$14,641
Office Expenses$7,099$2,165$1,372$10,636
Insurance$3,635$5,848$20$9,503
Travel$7,871-$15$7,886
Conferences and Meetings--$6,753$6,753
Fees for Services Other$1,196$3,798$592$5,586
All Other Expenses$2,798$647$1,463$4,908
Grants to Domestic Individuals$357--$357
Total Functional Expenses$342,539$87,310$46,601$476,450
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
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 governing body review Part VI line 11

“The Treasurer, in conjunction with the Finance Committee, will provide review and oversight responsibilities of the IRS Form 990 prepared by the organizations external tax preparer. The Finance Committee is responsible for verifying the Form 990 for accuracy and completeness before submission of the filing. Upon approval of the IRS Form 990 by the Finance Committee, the Executive Director will sign the Form 990. A copy of the Form 990 will be distributed to the Board prior to filing. The original signed copy of the Form 990 will be filed with the IRS once approved and distribution to the Board has occurred.”

Conflict of interest policy compliance Part VI line 12C

“The Conflict of Interest policy is monitored by the Board Secretary and reviewed and signed at the beginning of each fiscal year by all staff and Board members with significant decision-making authority. It is each signators obligation to disclose any potential conflict as soon as it is known, or reasonably should be known.”

CEO executive director top management comp Part VI line 15A

“The Executive Directors salary level was independently reviewed by the Board of Directors to ensure it does not exceed comparable levels of compensation for nonprofit directors in this region of the country. Salary data for executives of organizations of a similar size and mission were examined in developing a compensation package that was recommended and approved by the Board of Directors, and documented in the meeting minutes.”

Governing documents etc available to public Part VI line 19

“The three most recent Form 990s (including financial information), the Bylaws, Articles of Incorporation, Form 1023 Application for Exemption, and Conflict of Interest Policy are provided to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Read and Feed
EIN
20-3246207
Address
171-10 High House Road, Cary, NC 27511

Signing Officer

Name
Sherry Overton Shudra
Title
Executive Direc
Phone
9194639744
Signed
2023-04-24
Discuss with paid preparer
Yes

Organization Details

Formed
2005
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
15
Employees
7
Volunteers
575

Preparer

Firm
Mark S Danes CPA PLLC
Address
5512 Frenchmans Creek Drive, Durham, NC 27713
Preparer
Mark Danes
Phone
9194521999
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Founder & Past President
IRS990/Form990PartVIISectionAGrp/TitleTxt13President
IRS990/Form990PartVIISectionAGrp/TitleTxt14Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt15Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt16Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt17Vice President
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,230,030
Liabilities
$13,452
Net assets
$1,216,578
Revenue
$1,083,677
Expenses
$476,450
Net income
$607,227
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.99$0.05$0.94$0.63$0.47$0.16
2022Detailed filing. Detailed filing data is available for this year.$1.23$0.01$1.22$1.08$0.48$0.61
2021Detailed filing. Detailed filing data is available for this year.$0.64$0.03$0.61$0.58$0.50$0.08
2020Summary only. Only limited summary data is available for this year.$0.55$0.02$0.53$0.51$0.47$0.04
2019Summary only. Only limited summary data is available for this year.$0.53$0.01$0.52$0.18$0.24$0.06
2018Summary only. Only limited summary data is available for this year.$0.67$0.02$0.65$0.37$0.42$0.05
2017Summary only. Only limited summary data is available for this year.$0.73$0.01$0.73$0.44$0.36$0.08
2016Summary only. Only limited summary data is available for this year.$0.47$0.00$0.47$0.52$0.32$0.20
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.29$0.26$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.24$0.00$0.24$0.27$0.26$0.01
2013Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.35$0.25$0.10
2012Summary only. Only limited summary data is available for this year.$0.13$0.01$0.13$0.23$0.18$0.05
2011Summary only. Only limited summary data is available for this year.$0.08$0.00$0.08$0.11$0.13$0.03