Civic Intelligence

Read 718 Inc

990 • Fiscal year 2019 • EIN 46-4080472

Aug 01, 2018 to Jul 31, 2019 • Filed on Apr 16, 2020

Organization Profileread718.org
420 Atlantic AvenueBrooklyn, NY 11217

(917) 575-8752

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

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

2019 filings • NTEE B99 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.00x

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

2019 filings • NTEE B99 • <$500k nonprofits • Source year 2019

Net Margin

60th percentile

11%

Higher net margin than 60% of similar nonprofits.

2019 filings • NTEE B99 • <$500k nonprofits • Source year 2019

Top Officer Pay

89th percentile

$54,808

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 19.6% of source-year revenue.

2019 filings • NTEE B99 • <$500k nonprofits • Source year 2019

Asset Growth

61st percentile

16%

Faster asset growth than 61% of similar nonprofits.

2019 filings • NTEE B99 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

74th percentile

27%

Faster revenue growth than 74% of similar nonprofits.

2019 filings • NTEE B99 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$408,143

Up $56,870 (+16%) from 2018

Net Assets

Up

$408,143

Up $56,870 (+16%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin60th percentile

Revenue

Up

$279,609

Up $58,914 (+27%) from 2018

Expenses

Up

$247,714

Up $65,138 (+36%) from 2018

Net Income

Down

$31,895

Down $6,224 (-16%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$1.0M$500K$0Assets 2015: $247,774Liabilities 2015: $0Net Assets 2015: $247,7742015Assets 2016: $262,558Net Assets 2016: $262,5582016Assets 2017: $313,154Net Assets 2017: $313,1542017Assets 2018: $351,273Liabilities 2018: $0Net Assets 2018: $351,2732018Assets 2019: $408,143Liabilities 2019: $0Net Assets 2019: $408,1432019Assets 2020: $506,182Liabilities 2020: $43,045Net Assets 2020: $463,1372020Assets 2021: $674,221Liabilities 2021: $56,228Net Assets 2021: $617,9932021Assets 2022: $774,569Liabilities 2022: $8,373Net Assets 2022: $766,1962022Assets 2023: $827,534Liabilities 2023: $12,647Net Assets 2023: $814,8872023Assets 2024: $905,321Liabilities 2024: $6,954Net Assets 2024: $898,3672024

Highlighted filing

2019

Assets$408,143
Liabilities$0
Net Assets$408,143
Open 2019 Filing

Operations Trend

Revenue Growth74th percentile

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

$1.0M$500K$0Revenue 2015: $289,554Expenses 2015: $37,726Net Income 2015: $251,8282015Revenue 2016: $91,867Expenses 2016: $77,083Net Income 2016: $14,7842016Revenue 2017: $163,239Expenses 2017: $112,643Net Income 2017: $50,5962017Revenue 2018: $220,695Expenses 2018: $182,576Net Income 2018: $38,1192018Revenue 2019: $279,609Expenses 2019: $247,714Net Income 2019: $31,8952019Revenue 2020: $375,811Expenses 2020: $320,817Net Income 2020: $54,9942020Revenue 2021: $515,252Expenses 2021: $412,945Net Income 2021: $102,3072021Revenue 2022: $708,000Expenses 2022: $559,797Net Income 2022: $148,2032022Revenue 2023: $744,534Expenses 2023: $695,843Net Income 2023: $48,6912023Revenue 2024: $912,681Expenses 2024: $829,201Net Income 2024: $83,4802024

Highlighted filing

2019

Revenue$279,609
Expenses$247,714
Net Income$31,895
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Apr 16, 2020
Return Version
2018v3.1
Gross Receipts
$279,609
Mission and Program Overview

Mission

Read 718 offers free or low cost individualized reading instruction, literacy tutoring, and mentorship to low-income students in grades four through eight located in Brooklyn.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$376,248$408,143▲ $31,895
Cash and Non-Interest-Bearing Accounts$241,900$267,707▲ $25,807
Land, Buildings, and Equipment, Net$109,373$97,947▼ $11,426
Savings and Temporary Cash Investments$24,975$24,860▼ $115
Pledges and Grants Receivable-$17,629-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$376,248$408,143▲ $31,895
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$376,248$408,143▲ $31,895
Total Liabilities and Net Assets / Fund Balance$376,248$408,143▲ $31,895

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$96,231$58,185$154,416
Other Land Buildings$1,405$4,468$5,873
Equipment$311$1,695$2,006
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Emily KirvenPresidentFT$54,808$54,808

Board Members and Trustees

NameTitle
Sharon WurtzelChairman
Erin TexeiraDirector
Gianna ScorsoneDirector
Keith BrooksDirector
Michael KirvenDirector
Nadina J RosierDirector
Tad SennottDirector
Tamia B SantanaDirector
Tammie Carr MullaneyDirector
Rai-Tonicia KingSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$272,873
Program Service Revenue
$6,701
Investment Income
$35
Other Revenue
$0
All Other Contributions
$272,873
Change in Net Assets
$31,895
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$187,670
Other Expenses$47,180
Total Fundraising Expense$16,907
Professional Fundraising Fees$12,864
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$88,975$29,936-$118,911
Current Officers, Directors, Trustees, and Key Employees-$54,808-$54,808
Payroll Taxes$7,145$6,806-$13,951
Fees for Services Professional Fundraising--$12,864$12,864
Depreciation Depletion-$11,426-$11,426
Office Expenses-$8,557-$8,557
Insurance-$6,160-$6,160
Fees for Services Other--$4,043$4,043
Occupancy-$3,597-$3,597
Fees for Services Legal$2,684--$2,684
Advertising-$2,117-$2,117
Other Expenses$1,101$1,841-$1,101
All Other Expenses-$1,064-$1,064
Total Functional Expenses$104,495$126,312$16,907$247,714
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$12,864
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Emily Kirven and Michael Kirven are married”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 was reviewed by all board members prior to filing”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, policies, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
READ 718 Inc
EIN
46-4080472
Phone
9175758752
Address
420 Atlantic Avenue, Brooklyn, NY 11217

Signing Officer

Name
Emily Kirven
Title
President
Signed
2020-04-16
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
0
Employees
5

Preparer

Firm
Korje Tax Professionals Inc
Address
928 BROADWAY SUITE 707, NEW YORK, NY 10010
Preparer
Koreen Jervis
Phone
2126771132
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06806
IRS990/PayrollTaxesGrp/ProgramServicesAmt07145
IRS990/PayrollTaxesGrp/TotalAmt013951
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt017629
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Tutoring
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt06701
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt06701
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0238270
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt046392
IRS990/PYProgramServiceRevenueAmt07288
IRS990/PYRevenuesLessExpensesAmt062982
IRS990/PYSalariesCompEmpBnftPaidAmt0125785
IRS990/PYTotalExpensesAmt0182576
IRS990/PYTotalProfFndrsngExpnsAmt010399
IRS990/PYTotalRevenueAmt0245558
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt031895
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0376248
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0408143
IRS990/SavingsAndTempCashInvstGrp/BOYAmt024975
IRS990/SavingsAndTempCashInvstGrp/EOYAmt024860
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0272873
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0238270
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0158003
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt086992
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0288629
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01044767
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt035
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt035
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt01044767
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0272873
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0238270
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0158003
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt086992
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0288629
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01044767
IRS990ScheduleA/TotalSupportAmt01044802
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0311
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01695
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02006
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt096231
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt058185
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0154416
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01405
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04468
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05873
IRS990ScheduleD/TotalBookValueLandBuildingsAmt097947
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Emily Kirven and Michael Kirven are married
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 was reviewed by all board members prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents, policies, and financial statements are available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0376248
IRS990/TotalAssetsEOYAmt0408143
IRS990/TotalAssetsGrp/BOYAmt0376248
IRS990/TotalAssetsGrp/EOYAmt0408143
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0272873
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt016907
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0126312
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0104495
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247714
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0376248
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0408143
IRS990/TotalProgramServiceExpensesAmt0104495
IRS990/TotalProgramServiceRevenueAmt06701
IRS990/TotalReportableCompFromOrgAmt054808
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt06736
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0279609
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0376248
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0408143
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X

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
$408,143
Liabilities
$0
Net assets
$408,143
Revenue
$279,609
Expenses
$247,714
Net income
$31,895
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.05$0.07$8.98$9.13$8.29$0.83
2023Detailed filing. Detailed filing data is available for this year.$8.28$0.13$8.15$7.45$6.96$0.49
2022Detailed filing. Detailed filing data is available for this year.$7.75$0.08$7.66$7.08$5.60$1.48
2021Detailed filing. Detailed filing data is available for this year.$6.74$0.56$6.18$5.15$4.13$1.02
2020Detailed filing. Detailed filing data is available for this year.$5.06$0.43$4.63$3.76$3.21$0.55
2019Detailed filing. Detailed filing data is available for this year.$4.08$0.00$4.08$2.80$2.48$0.32
2018Detailed filing. Detailed filing data is available for this year.$3.51$0.00$3.51$2.21$1.83$0.38
2017Detailed filing. Detailed filing data is available for this year.$3.13$3.13$1.63$1.13$0.51
2016Detailed filing. Detailed filing data is available for this year.$2.63$2.63$0.92$0.77$0.15
2015Detailed filing. Detailed filing data is available for this year.$2.48$0.00$2.48$2.90$0.38$2.52