Civic Intelligence

Foundation for Reading Area Community College

990 • Fiscal year 2017 • EIN 23-2273163

Jul 01, 2016 to Jun 30, 2017 • Filed on Sep 06, 2017

P O Box 1706Reading, PA 19603

(610) 607-6239

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

94th percentile

65%

Higher net margin than 94% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

59th percentile

$201,606

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

87th percentile

26%

Faster asset growth than 87% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

97th percentile

314%

Faster revenue growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$20,042,051

Up $4,147,006 (+26%) from 2016

Net Assets

Up

$20,042,051

Up $4,147,006 (+26%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Up

$5,347,466

Up $4,056,368 (+314%) from 2016

Expenses

Up

$1,854,929

Up $712,482 (+62%) from 2016

Net Income

Up

$3,492,537

Up $3,343,886 (+2249%) from 2016

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $8,301,765Liabilities 2011: $0Net Assets 2011: $8,301,7652011Assets 2012: $8,544,975Liabilities 2012: $0Net Assets 2012: $8,544,9752012Assets 2013: $9,502,431Liabilities 2013: $0Net Assets 2013: $9,502,4312013Assets 2014: $11,020,895Liabilities 2014: $0Net Assets 2014: $11,020,8952014Assets 2015: $11,299,861Liabilities 2015: $0Net Assets 2015: $11,299,8612015Assets 2016: $15,895,045Liabilities 2016: $0Net Assets 2016: $15,895,0452016Assets 2017: $20,042,051Liabilities 2017: $0Net Assets 2017: $20,042,0512017Assets 2018: $21,030,085Liabilities 2018: $0Net Assets 2018: $21,030,0852018Assets 2019: $21,438,462Liabilities 2019: $0Net Assets 2019: $21,438,4622019Assets 2020: $21,281,888Liabilities 2020: $17,400Net Assets 2020: $21,264,4882020Assets 2021: $26,927,388Liabilities 2021: $18,759Net Assets 2021: $26,908,6292021Assets 2022: $24,638,373Liabilities 2022: $0Net Assets 2022: $24,638,3732022Assets 2023: $25,439,059Liabilities 2023: $2,500Net Assets 2023: $25,436,5592023Assets 2024: $28,950,000Liabilities 2024: $700Net Assets 2024: $28,949,3002024Assets 2025: $31,986,764Liabilities 2025: $0Net Assets 2025: $31,986,7642025

Highlighted filing

2017

Assets$20,042,051
Liabilities$0
Net Assets$20,042,051

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $889,367Expenses 2011: $492,663Net Income 2011: $396,7042011Revenue 2012: $1,005,936Expenses 2012: $689,297Net Income 2012: $316,6392012Expenses 2013: $983,8872013Revenue 2014: $897,135Expenses 2014: $855,309Net Income 2014: $41,8262014Revenue 2015: $997,366Expenses 2015: $970,331Net Income 2015: $27,0352015Revenue 2016: $1,291,098Expenses 2016: $1,142,447Net Income 2016: $148,6512016Revenue 2017: $5,347,466Expenses 2017: $1,854,929Net Income 2017: $3,492,5372017Revenue 2018: $1,754,724Expenses 2018: $1,648,976Net Income 2018: $105,7482018Revenue 2019: $1,547,276Expenses 2019: $1,951,787Net Income 2019: -$404,5112019Revenue 2020: $1,257,241Expenses 2020: $1,539,184Net Income 2020: -$281,9432020Revenue 2021: $1,932,063Expenses 2021: $1,633,591Net Income 2021: $298,4722021Revenue 2022: $2,074,074Expenses 2022: $1,889,449Net Income 2022: $184,6252022Revenue 2023: $1,876,136Expenses 2023: $1,902,741Net Income 2023: -$26,6052023Revenue 2024: $4,212,353Expenses 2024: $2,988,127Net Income 2024: $1,224,2262024Revenue 2025: $4,109,333Expenses 2025: $3,567,511Net Income 2025: $541,8222025

Highlighted filing

2017

Revenue$5,347,466
Expenses$1,854,929
Net Income$3,492,537
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Sep 6, 2017
Return Version
2016v3.0
Gross Receipts
$5,365,213
Mission and Program Overview

Mission

The mission of the foundation for reading area community college is to augment and enhance the college's ability to offer affordable, quality educational opportunities to the community.

The mission of the foundation for reading area community college is to augment the college's ability to offer affordable, quality educational opportunities to residents of greater reading and berks county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,611,277$11,354,282▲ $743,005
Pledges and Grants Receivable$68,796$926,071▲ $857,275
Savings and Temporary Cash Investments$459,959$760,349▲ $300,390
Cash and Non-Interest-Bearing Accounts$167$173▲ $6
Total Assets$15,895,045$20,042,051▲ $4,147,006
Other Assets Total$4,754,846$7,001,176▲ $2,246,330
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$10,805,811$13,614,887▲ $2,809,076
Temporarily Rstr Net Assets$2,867,965$4,340,071▲ $1,472,106
Unrestricted Net Assets$2,221,269$2,087,093▼ $134,176
Total Net Assets Fund Balance$15,895,045$20,042,051▲ $4,147,006
Total Liabilities and Net Assets / Fund Balance$15,895,045$20,042,051▲ $4,147,006

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$6,876,176--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$12,219,352$2,648,964▲ $20,592$80,627$14,808,281
2015$11,471,847$358,469▲ $389,036-$12,219,352
2014$6,577,976$5,392,170▼ $400,413-$11,471,847
2013$6,347,666$158,872▲ $72,964-$6,577,976
2012$6,179,645$114,495▲ $53,526-$6,347,666
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$5,110,271
Program Service Revenue
$0
Investment Income
$233,742
Other Revenue
$3,453
All Other Contributions
$5,082,905
Change in Net Assets
$3,492,537

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,347,466
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$863,905
Total Revenue per Audited Statements
$6,211,371
Total Revenue per Form 990
$5,347,466
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,757,183
Other Expenses$97,746
Total Fundraising Expense$8,674
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,757,183--$1,757,183
Fees for Service Investment Mgmnt Fees$45,290$5,661$5,661$56,612
Other Expenses$11,000$1,163$1,164$11,000
Fees for Services Accounting$8,132$1,017$1,016$10,165
Conferences and Meetings$6,669$834$833$8,336
Total Functional Expenses$1,837,580$8,675$8,674$1,854,929

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,064,364
Total Expenses per Form 990$1,854,929
Expenses per Audited Statements$1,843,929
Expenses Not Reported on Form 990$220,435
Expenses Not Reported on Financial Statements$11,000
Other Expense Adjustments$11,000
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Reading Area Community CollegeReading, PA-Books and Equipment, Scholarships, Works of Art, Arts, Culture and Lectures, Science of Success Lab Campaign$1,757,183
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$21,200
Fundraising Direct Expenses$17,747
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$42,566$15,200$17,747$-2,547
Gala----
Total Events$42,566$15,200$17,747$-2,547
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
Audit committee
Yes
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, Section B, line 11B

Members of the board are provided the form 990 for review and approval prior to filing.

Form 990, Part VI, Section B, line 12C

Annually the board members are made aware of the policy and are required to submit a signed conflict declaration.

Form 990, Part VI, Section C, line 18

Documents are available upon request.

Form 990, Part VI, Section C, line 19

Minutes, by-laws, annual audit, the 990 and form 1023 are available to be reviewed upon request at the organizations location.

Filing and Contact Details

Filer

Filer Name
Foundation for Reading Area Community
EIN
23-2273163
Phone
6106076239
Address
P O BOX 1706, READING, PA 19603

Signing Officer

Name
Nora Sobottka
Title
Chair
Phone
6106076239
Signed
2017-09-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nora Sobottka
Formed
1981
Legal Domicile
Pa
Voting Board Members
26
Independent Board Members
26
Employees
0
Volunteers
30

Preparer

Firm
Herbein Company Inc
Address
2763 Century Boulevard, Reading, PA 19610
Preparer
Linda S Himeback CPA
Phone
6103781175
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

The intended use of the endowments is largely to fund scholarships, other approved reading area community college programs and operations.

Part X, Line 2:

In accordance with generally accepted accounting principles, the Foundation accounts for uncertain tax positions relative to unrelated business income, if any, as required.

Part XI, Line 2D - Other Adjustments:

Unrealized pledge contributions -11,000.

Part XII, Line 4B - Other Adjustments:

Unrealized pledge contributions 11,000.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01981
IRS990/FormerOfcrEmployeesListedInd00
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IRS990/FSAuditedInd01
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IRS990/FundraisingGrossIncomeAmt021200
IRS990/GamingActivitiesInd00
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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01757183
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01757183
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt05365213
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt026
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentIncomeGrp/ExclusionAmt0233742
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0233742
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt010611277
IRS990/InvestmentsPubTradedSecGrp/EOYAmt011354282
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0PA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The mission of the Foundation for Reading Area Community College is to augment the College's ability to offer affordable, quality educational opportunities to residents of Greater Reading and Berks County.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrlzdGainsLossesInvstAmt0654470
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
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IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01163
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IRS990/OtherExpensesGrp/ProgramServicesAmt111000
IRS990/OtherExpensesGrp/TotalAmt011633
IRS990/OtherExpensesGrp/TotalAmt111000
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt010805811
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt013614887
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt068796
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0926071
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0NORA SOBOTTKA
IRS990/ProfessionalFundraisingInd01
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt0706079
IRS990/ProgSrvcAccomActy3Grp/Desc0TO PROVIDE BOOKS AND EQUIPMENT FOR READING AREA COMMUNITY COLLEGE
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt085004
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IRS990/PYInvestmentIncomeAmt0218493
IRS990/PYOtherExpensesAmt079278
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IRS990/PYProgramServiceRevenueAmt00
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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0802247
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0736721
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0671764
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0233742
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0218493
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0200014
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0186271
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0169831
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01008351
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0130780
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.47690
IRS990ScheduleA/PublicSupportPY170Pct00.57440
IRS990ScheduleA/PublicSupportTotal170Amt04497350
IRS990ScheduleA/SubstantialContributorsTotAmt03924936
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt05110271
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01101283
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0802247
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0736721
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0671764
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt08422286

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.0$0.00$32.0$4.11$3.57$0.54
2024Detailed filing. Detailed filing data is available for this year.$29.0$0.00$28.9$4.21$2.99$1.22
2023Detailed filing. Detailed filing data is available for this year.$25.4$0.00$25.4$1.88$1.90$0.03
2022Detailed filing. Detailed filing data is available for this year.$24.6$0.00$24.6$2.07$1.89$0.18
2021Detailed filing. Detailed filing data is available for this year.$26.9$0.02$26.9$1.93$1.63$0.30
2020Detailed filing. Detailed filing data is available for this year.$21.3$0.02$21.3$1.26$1.54$0.28
2019Detailed filing. Detailed filing data is available for this year.$21.4$0.00$21.4$1.55$1.95$0.40
2018Detailed filing. Detailed filing data is available for this year.$21.0$0.00$21.0$1.75$1.65$0.11
2017Detailed filing. Detailed filing data is available for this year.$20.0$0.00$20.0$5.35$1.85$3.49
2016Detailed filing. Detailed filing data is available for this year.$15.9$0.00$15.9$1.29$1.14$0.15
2015Detailed filing. Detailed filing data is available for this year.$11.3$0.00$11.3$1.00$0.97$0.03
2014Detailed filing. Detailed filing data is available for this year.$11.0$0.00$11.0$0.90$0.86$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.50$0.00$9.50$0.98
2012Summary only. Only limited summary data is available for this year.$8.54$0.00$8.54$1.01$0.69$0.32
2011Summary only. Only limited summary data is available for this year.$8.30$0.00$8.30$0.89$0.49$0.40