Civic Intelligence

Read USA Inc.

990 • Fiscal year 2021 • EIN 47-4729513

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 06, 2022

PO Box 331067Atlantic Beach, FL 32233

(720) 256-6143

Siviq Scores

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

Liabilities / Assets

74th percentile

0.29x

Higher debt load relative to assets than 74% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

62nd percentile

0.18x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

83rd percentile

42%

Higher net margin than 83% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

68th percentile

$95,228

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

100th percentile

5806%

Faster asset growth than 100% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

426%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,550,513

Up $1,524,262 (+5806%) from 2020

Net Assets

Up

$1,098,836

Up $1,085,585 (+8192%) from 2020

Liabilities

Up

$451,677

Up $438,677 (+3374%) from 2020

Revenue

Up

$2,569,007

Up $2,080,231 (+426%) from 2020

Expenses

Up

$1,483,422

Up $998,150 (+206%) from 2020

Net Income

Up

$1,085,585

Up $1,082,081 (+30881%) from 2020

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2017: $5,377Liabilities 2017: $0Net Assets 2017: $5,3772017Assets 2018: $7,393Liabilities 2018: $0Net Assets 2018: $7,3932018Assets 2019: $9,747Liabilities 2019: $0Net Assets 2019: $9,7472019Assets 2020: $26,251Liabilities 2020: $13,000Net Assets 2020: $13,2512020Assets 2021: $1,550,513Liabilities 2021: $451,677Net Assets 2021: $1,098,8362021Assets 2023: $2,323,124Liabilities 2023: $1,223,062Net Assets 2023: $1,100,0622023Assets 2024: $1,622,148Liabilities 2024: $1,488,525Net Assets 2024: $133,6232024

Highlighted filing

2021

Assets$1,550,513
Liabilities$451,677
Net Assets$1,098,836

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $79,365Expenses 2017: $73,988Net Income 2017: $5,3772017Revenue 2018: $105,855Expenses 2018: $103,839Net Income 2018: $2,0162018Revenue 2019: $350,344Expenses 2019: $347,990Net Income 2019: $2,3542019Revenue 2020: $488,776Expenses 2020: $485,272Net Income 2020: $3,5042020Revenue 2021: $2,569,007Expenses 2021: $1,483,422Net Income 2021: $1,085,5852021Revenue 2023: $3,947,111Expenses 2023: $4,702,134Net Income 2023: -$755,0232023Revenue 2024: $4,593,735Expenses 2024: $5,560,174Net Income 2024: -$966,4392024

Highlighted filing

2021

Revenue$2,569,007
Expenses$1,483,422
Net Income$1,085,585
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 6, 2022
Return Version
2021v4.0
Gross Receipts
$2,569,007
Mission and Program Overview

Mission

Based on research, read usa inc., is targeting breaking the cycle of poverty by equiping literacy resources to children of low income homes. Research shows that 2/3 of low income homes have zero books and 2/3 of 4th graders who struggle to read will end up in jail or on welfare. Read usa inc. Is creating awareness and action towards this issue and turning the page on these statistics in a positive way.

Based on research, read usa, inc. Is targeting breaking the cycle of poverty by equipping literacy resources to children of low income homes. Research shows that two-thirds of low income homes have zero books and two-thirds of fourth grade children who struggle to read will end up in jail or on welfare. Read usa, inc. Is creating awareness and action towards this issue and turning the page on these statistics in a positive way. The organization provides book choice and ownership for children in under- resourced communities through book fairs and book events. The organization also works to improve grade-level reading proficiency by pairing high school teen tutors with elementary school students struggling to read, providing daily, intensive one- to-one multisensory tutoring focused on oral reading fluency, phonics, phonemic awareness, vocabulary, reading comprehension skills, and writing. The organization offers multicultural literacy programming that includes virtual "read alouds" from

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$459,739-
Accounts Receivable-$446,067-
Pledges and Grants Receivable-$296,100-
Cash and Non-Interest-Bearing Accounts$26,251$62,507▲ $36,256
Loans From Officers Directors$13,000$12,945▼ $55
Total Assets$26,251$1,550,513▲ $1,524,262
Other Assets Total-$286,100-
Liabilities
Accounts Payable and Accrued Expenses-$438,732-
Total Liabilities$13,000$451,677▲ $438,677
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$582,200-
Net Assets With Donor Restrictions$13,251$516,636▲ $503,385
Total Net Assets Fund Balance$13,251$1,098,836▲ $1,085,585
Total Liabilities and Net Assets / Fund Balance$26,251$1,550,513▲ $1,524,262

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$286,100--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert KellyCAOFT$93,001$2,227$95,228
Terrance FreemanCEOFT$88,465$2,625$91,090

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,569,007
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,767,864
Change in Net Assets
$1,085,585

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported AmountValuation Method
Books and Publications$490,071Fair Market Value (FMV)
Total Noncash Contributions$490,071-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,569,007
Total Revenue per Audited Statements
$2,569,007
Total Revenue per Form 990
$2,569,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,277,140
Salaries, Compensation, and Employee Benefits$200,882
Total Fundraising Expense$23,623
Grants and Similar Amounts Paid$5,400
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$44,175$44,175$4,650$93,000
Current Officers, Directors, Trustees, and Key Employees$42,021$42,021$4,423$88,465
Office Expenses$14,020$14,020-$28,040
Advertising$26,122--$26,122
Payroll Taxes$6,918$6,918$728$14,564
Other Expenses$14,405-$13,501$14,405
Fees for Services Accounting$6,783$6,783-$13,566
Information Technology$4,978$4,978-$9,956
Grants to Domestic Orgs$5,400--$5,400
Occupancy$2,462$2,462-$4,924
Pension Plan Contributions$1,325$1,325$140$2,790
Depreciation Depletion$2,378--$2,378
Other Employee Benefits$980$980$103$2,063
Fees for Services Other$743$743$78$1,564
Fees for Services Legal$415$415-$830
Insurance$168$168-$336
All Other Expenses$148$148-$296
Total Functional Expenses$1,334,663$125,136$23,623$1,483,422

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,483,422
Total Expenses per Audited Statements$1,483,422
Total Expenses per Form 990$1,483,422
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Jacksonville Public Education FundJacksonville, FL501c3Organization Support$5,400
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$13,000$12,945▼ $55
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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, Page 6, Part VI, Line 11B

The form 990 is presented to the board of directors before the return is filed.

Form 990, Page 6, Part VI, Line 12C

The read usa, inc board of directors, officers, and all employees are required to disclose annually, interests that could give rise to conflict. The executive director is responsible for reviewing the disclosures and maintaining compliance with the conflict-of-interest policy. Should any potential conflicts of interest be disclosed, the board member would be asked to refrain from participating in any deliberation or decision with regard to matters affected by the relationship.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Read USA Inc
EIN
47-4729513
Phone
7202566143
Address
PO BOX 331067, ATLANTIC BEACH, FL 32233

Signing Officer

Name
Ellen a Wiss
Title
Chair
Phone
7202566143
Signed
2022-10-06

Organization Details

Principal Officer
Ellen a Wiss
Formed
2017
Legal Domicile
Fl
Voting Board Members
13
Independent Board Members
12
Employees
2
Volunteers
100

Preparer

Firm
Gunnchamberlain Pl
Address
4350 PABLO PROFESSIONAL CT STE 200, JACKSONVILLE, FL 32224-3224
Preparer
Michael B Mcleod CPA
Phone
9042962024
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Based on research, read usa, inc. Is targeting breaking the cycle of generational poverty through programming that is laser focused on closing the literacy gap for children from under resourced communities. Research shows that two-thirds of low income homes have zero books and two-thirds of fourth grade children who struggle to read will end up in jail or on welfare. Read usa, inc. Is creating awareness and action towards this issue and turning the page on these statistics in a positive way.

Form 990, Page 2, Part III, Line 4B

Read usa also expanded their peer-to-peer reading tutoring intervention program employing, training, and supervising over 250 high school teens mostly from the mayor's youth at work partnership and hiring over 50 licensed educators within the school district providing enhanced pay and professional literacy instruction development. These teen tutors received training on the curriculum materials and professional work environment expectation and skills. They were then paired with nearly 800 elementary school students identified by the school district as below grade level readers for an intense daily 1 to 1 literacy tutoring session for 4 months in 12 duval county elementary schools. Pre and post assessment tests were analyzed by an independent source, the university of north florida, which showed to be highly effective in producing reading gains for both the teen tutors as well as the younger students they led.

Form 990, Page 2, Part III, Line 4D

Read usa expanded its multi-cultural literacy offerings through expanded partnerships with the jacksonville jaguars, the cummer museum of art and gardens, and others with additional book ownership opportunities for children as a well as many additional free digital resources, including read alouds by local and national leaders, many video creations by read usa as well as instructional videos and resources for educators and families.

Financial Statement Notes

Schedule D, Page 3, Part X

The organization qualifies as a tax-exempt organization under section 501 (c)(3) of the internal revenue code (irc). The organization periodically assesses whether it has incurred income tax expense or related interest or penalties in accordance with accounting for uncertain tax positions. No such amounts were recognized for the year ending december 31, 2021. The organization follows the income tax standard for uncertain tax positions. The organization has evaluated their tax positions and determined they have no uncertain tax positions as of december 31, 2021. Should the organization's tax-exempt status be challenged in the future, the organization's 2019, 2020, and 2021 tax years are open for examination by the irs.

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IRS990/ProgSrvcAccomActy2Grp/Desc0READ USA ALSO EXPANDED THEIR PEER-TO-PEER READING TUTORING INTERVENTION PROGRAM EMPLOYING, TRAINING, AND SUPERVISING OVER 250 HIGH SCHOOL TEENS MOSTLY FROM THE MAYOR'S YOUTH AT WORK PARTNERSHIP AND HIRING OVER 50 LICENSED EDUCATORS WITHIN THE SCHOOL DISTRICT PROVIDING ENHANCED PAY AND PROFESSIONAL LITERACY INSTRUCTION DEVELOPMENT. THESE TEEN TUTORS RECEIVED TRAINING ON THE CURRICULUM MATERIALS AND PROFESSIONAL WORK ENVIRONMENT EXPECTATION AND SKILLS. THEY WERE THEN PAIRED WITH NEARLY 800 ELEMENTARY SCHOOL STUDENTS IDENTIFIED BY THE SCHOOL DISTRICT AS BELOW GRADE LEVEL READERS FOR AN INTENSE DAILY 1 TO 1 LITERACY TUTORING SESSION FOR 4 MONTHS IN 12 DUVAL COUNTY ELEMENTARY SCHOOLS. PRE AND POST ASSESSMENT TESTS WERE ANALYZED BY AN INDEPENDENT SOURCE, THE UNIVERSITY OF NORTH FLORIDA, WHICH SHOWED TO BE HIGHLY EFFECTIVE IN PRODUCING READING GAINS FOR BOTH THE TEEN TUTORS AS WELL AS THE YOUNGER STUDENTS THEY LED.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0100925
IRS990/ProgSrvcAccomActy3Grp/Desc0READ USA HELD A COMMUNITY EVENT, "PEACE IN THE PAGES," RAISING AWARENESS THROUGH HONORING AWARD WINNERS IN THE COMMUNITY THAT EXEMPLIFY THE RELATIONSHIP BETWEEN LITERACY AND PEACE, PROSPERITY, EMPATHY, NON-VIOLENCE, JUSTICE, AND FREEDOM AND ENCOURAGE SUPPORT TOWARDS THESE ISSUES, ESPECIALLY ILLITERACY.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0READ USA EXPANDED ITS MULTI-CULTURAL LITERACY OFFERINGS THROUGH EXPANDED PARTNERSHIPS WITH THE JACKSONVILLE JAGUARS, THE CUMMER MUSEUM OF ART AND GARDENS, AND OTHERS WITH ADDITIONAL BOOK OWNERSHIP OPPORTUNITIES FOR CHILDREN AS A WELL AS MANY ADDITIONAL FREE DIGITAL RESOURCES, INCLUDING READ ALOUDS BY LOCAL AND NATIONAL LEADERS, MANY VIDEO CREATIONS BY READ USA AS WELL AS INSTRUCTIONAL VIDEOS AND RESOURCES FOR EDUCATORS AND FAMILIES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE ORGANIZATION PERIODICALLY ASSESSES WHETHER IT HAS INCURRED INCOME TAX EXPENSE OR RELATED INTEREST OR PENALTIES IN ACCORDANCE WITH ACCOUNTING FOR UNCERTAIN TAX POSITIONS. NO SUCH AMOUNTS WERE RECOGNIZED FOR THE YEAR ENDING DECEMBER 31, 2021. THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE ORGANIZATION HAS EVALUATED THEIR TAX POSITIONS AND DETERMINED THEY HAVE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021. SHOULD THE ORGANIZATION'S TAX-EXEMPT STATUS BE CHALLENGED IN THE FUTURE, THE ORGANIZATION'S 2019, 2020, AND 2021 TAX YEARS ARE OPEN FOR EXAMINATION BY THE IRS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ORGANIZATION SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0JACKSONVILLE PUBLIC EDUCATION FUND
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BASED ON RESEARCH, READ USA, INC. IS TARGETING BREAKING THE CYCLE OF GENERATIONAL POVERTY THROUGH PROGRAMMING THAT IS LASER FOCUSED ON CLOSING THE LITERACY GAP FOR CHILDREN FROM UNDER RESOURCED COMMUNITIES. RESEARCH SHOWS THAT TWO-THIRDS OF LOW INCOME HOMES HAVE ZERO BOOKS AND TWO-THIRDS OF FOURTH GRADE CHILDREN WHO STRUGGLE TO READ WILL END UP IN JAIL OR ON WELFARE. READ USA, INC. IS CREATING AWARENESS AND ACTION TOWARDS THIS ISSUE AND TURNING THE PAGE ON THESE STATISTICS IN A POSITIVE WAY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1READ USA ALSO EXPANDED THEIR PEER-TO-PEER READING TUTORING INTERVENTION PROGRAM EMPLOYING, TRAINING, AND SUPERVISING OVER 250 HIGH SCHOOL TEENS MOSTLY FROM THE MAYOR'S YOUTH AT WORK PARTNERSHIP AND HIRING OVER 50 LICENSED EDUCATORS WITHIN THE SCHOOL DISTRICT PROVIDING ENHANCED PAY AND PROFESSIONAL LITERACY INSTRUCTION DEVELOPMENT. THESE TEEN TUTORS RECEIVED TRAINING ON THE CURRICULUM MATERIALS AND PROFESSIONAL WORK ENVIRONMENT EXPECTATION AND SKILLS. THEY WERE THEN PAIRED WITH NEARLY 800 ELEMENTARY SCHOOL STUDENTS IDENTIFIED BY THE SCHOOL DISTRICT AS BELOW GRADE LEVEL READERS FOR AN INTENSE DAILY 1 TO 1 LITERACY TUTORING SESSION FOR 4 MONTHS IN 12 DUVAL COUNTY ELEMENTARY SCHOOLS. PRE AND POST ASSESSMENT TESTS WERE ANALYZED BY AN INDEPENDENT SOURCE, THE UNIVERSITY OF NORTH FLORIDA, WHICH SHOWED TO BE HIGHLY EFFECTIVE IN PRODUCING READING GAINS FOR BOTH THE TEEN TUTORS AS WELL AS THE YOUNGER STUDENTS THEY LED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2READ USA EXPANDED ITS MULTI-CULTURAL LITERACY OFFERINGS THROUGH EXPANDED PARTNERSHIPS WITH THE JACKSONVILLE JAGUARS, THE CUMMER MUSEUM OF ART AND GARDENS, AND OTHERS WITH ADDITIONAL BOOK OWNERSHIP OPPORTUNITIES FOR CHILDREN AS A WELL AS MANY ADDITIONAL FREE DIGITAL RESOURCES, INCLUDING READ ALOUDS BY LOCAL AND NATIONAL LEADERS, MANY VIDEO CREATIONS BY READ USA AS WELL AS INSTRUCTIONAL VIDEOS AND RESOURCES FOR EDUCATORS AND FAMILIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE READ USA, INC BOARD OF DIRECTORS, OFFICERS, AND ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUALLY, INTERESTS THAT COULD GIVE RISE TO CONFLICT. THE EXECUTIVE DIRECTOR IS RESPONSIBLE FOR REVIEWING THE DISCLOSURES AND MAINTAINING COMPLIANCE WITH THE CONFLICT-OF-INTEREST POLICY. SHOULD ANY POTENTIAL CONFLICTS OF INTEREST BE DISCLOSED, THE BOARD MEMBER WOULD BE ASKED TO REFRAIN FROM PARTICIPATING IN ANY DELIBERATION OR DECISION WITH REGARD TO MATTERS AFFECTED BY THE RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D

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