Civic Intelligence

Read 718 Inc

990 • Fiscal year 2020 • EIN 46-4080472

Aug 01, 2019 to Jul 31, 2020 • Filed on Mar 04, 2021

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

59th percentile

0.09x

Higher debt load relative to assets than 59% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.11x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Net Margin

64th percentile

15%

Higher net margin than 64% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

72nd percentile

$56,708

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2020 filings • NTEE B • $500k-$1M nonprofits • Source year 2020

Asset Growth

69th percentile

24%

Faster asset growth than 69% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

82nd percentile

34%

Faster revenue growth than 82% of similar nonprofits.

2020 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$506,182

Up $98,039 (+24%) from 2019

Net Assets

Up

$463,137

Up $54,994 (+13%) from 2019

Liabilities

Up

$43,045

Up $43,045 from 2019

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin64th percentile

Revenue

Up

$375,811

Up $96,202 (+34%) from 2019

Expenses

Up

$320,817

Up $73,103 (+30%) from 2019

Net Income

Up

$54,994

Up $23,099 (+72%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth69th 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

2020

Assets$506,182
Liabilities$43,045
Net Assets$463,137
Open 2020 Filing

Operations Trend

Revenue Growth82nd 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

2020

Revenue$375,811
Expenses$320,817
Net Income$54,994
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2019 to Jul 31, 2020
Signed
Mar 4, 2021
Return Version
2019v5.0
Gross Receipts
$379,722
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.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$408,143$463,137▲ $54,994
Cash and Non-Interest-Bearing Accounts$267,707$400,903▲ $133,196
Land, Buildings, and Equipment, Net$97,947$87,650▼ $10,297
Savings and Temporary Cash Investments$24,860$0▼ $24,860
Pledges and Grants Receivable$17,629$17,629→ $0
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$408,143$506,182▲ $98,039
Other Assets Total-$0-
Liabilities
Other Liabilities-$43,045-
Total Liabilities$0$43,045▲ $43,045
Net Assets / Fund Balance
Total Net Assets Fund Balance$408,143$463,137▲ $54,994
Total Liabilities and Net Assets / Fund Balance$408,143$506,182▲ $98,039

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$86,611$67,805$154,416
Other Land Buildings$881$4,992$5,873
Equipment$158$1,848$2,006
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Emily KirvenPresidentFT$56,708$56,708

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$374,361
Program Service Revenue
$5,358
Investment Income
$3
Other Revenue
$-3,911
All Other Contributions
$359,763
Change in Net Assets
$54,994
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$228,213
Other Expenses$92,604
Total Fundraising Expense$3,134
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$125,505$28,244-$153,749
Current Officers, Directors, Trustees, and Key Employees-$56,708-$56,708
Occupancy-$29,744-$29,744
Payroll Taxes$10,654$7,102-$17,756
Insurance$7,147$3,339-$10,486
Depreciation Depletion-$10,297-$10,297
Fees for Services Accounting-$5,387-$5,387
Office Expenses-$5,386-$5,386
All Other Expenses$3,400$1,331-$4,731
Information Technology--$3,134$3,134
Other Expenses$2,527$2,576-$2,527
Travel$2,187--$2,187
Advertising-$1,236-$1,236
Fees for Services Legal-$972-$972
Total Functional Expenses$165,361$152,322$3,134$320,817
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$3,911
Professional Fundraising Fees$0
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
PPP Loan$43,045
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 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
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
2021-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emily Kirven
Formed
2013
Legal Domicile
Ny
Voting Board Members
12
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/OtherExpensesGrp/Desc3Program Expenditures
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02576
IRS990/OtherExpensesGrp/ProgramServicesAmt010806
IRS990/OtherExpensesGrp/ProgramServicesAmt13135
IRS990/OtherExpensesGrp/ProgramServicesAmt22527
IRS990/OtherExpensesGrp/TotalAmt010806
IRS990/OtherExpensesGrp/TotalAmt13135
IRS990/OtherExpensesGrp/TotalAmt22576
IRS990/OtherExpensesGrp/TotalAmt32527
IRS990/OtherLiabilitiesGrp/EOYAmt043045
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt028244
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0125505
IRS990/OtherSalariesAndWagesGrp/TotalAmt0153749
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07102
IRS990/PayrollTaxesGrp/ProgramServicesAmt010654
IRS990/PayrollTaxesGrp/TotalAmt017756
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt017629
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt017629
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Emily Kirven
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0Tutoring
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05358
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05358
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0272873
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt035
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt047180
IRS990/PYProgramServiceRevenueAmt06701
IRS990/PYRevenuesLessExpensesAmt031895
IRS990/PYSalariesCompEmpBnftPaidAmt0187670
IRS990/PYTotalExpensesAmt0247714
IRS990/PYTotalProfFndrsngExpnsAmt012864
IRS990/PYTotalRevenueAmt0279609
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt054994
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0408143
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0463137
IRS990/SavingsAndTempCashInvstGrp/BOYAmt024860
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0374361
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0272873
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0238270
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0158003
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt086992
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01130499
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt035
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt038
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt01130499
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0374361
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0272873
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0238270
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0158003
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt086992
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01130499
IRS990ScheduleA/TotalSupportAmt01130537
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0158
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01848
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02006
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt086611
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt067805
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0154416
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0881
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04992
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05873
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt043045
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP Loan
IRS990ScheduleD/TotalBookValueLandBuildingsAmt087650
IRS990ScheduleD/TotalLiabilityAmt043045
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/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0408143
IRS990/TotalAssetsEOYAmt0506182
IRS990/TotalAssetsGrp/BOYAmt0408143
IRS990/TotalAssetsGrp/EOYAmt0506182
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0374361
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03134
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0152322

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$506,182
Liabilities
$43,045
Net assets
$463,137
Revenue
$375,811
Expenses
$320,817
Net income
$54,994
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