Civic Intelligence

Planetread

990 • Fiscal year 2024 • EIN 57-1198966

Jul 01, 2023 to Jun 30, 2024 • Filed on Aug 19, 2024

Organization Profilewww.planetread.org
26 Manor DrPiedmont, CA 94611-4144

(510) 435-3175

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

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

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

21st percentile

0.00x

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

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Net Margin

2nd percentile

-123%

Higher net margin than 2% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

78th percentile

$141,291

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 93.3% of source-year revenue.

2024 filings • NTEE B • $1M-$5M nonprofits • Source year 2024

Asset Growth

15th percentile

-14%

Faster asset growth than 15% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-89%

Faster revenue growth than 1% of similar nonprofits.

2024 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$1,166,865

Down $185,513 (-14%) from 2023

Net Assets

Down

$1,166,865

Down $185,513 (-14%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin2nd percentile

Revenue

Down

$151,374

Down $1,255,333 (-89%) from 2023

Expenses

Up

$336,887

Up $261,903 (+349%) from 2023

Net Income

Down

-$185,513

Down $1,517,236 (-114%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $65,372Liabilities 2011: $02011Assets 2012: $54,379Liabilities 2012: $02012Assets 2013: $46,810Liabilities 2013: $02013Assets 2014: $42,533Liabilities 2014: $02014Assets 2015: $22,464Liabilities 2015: $02015Assets 2016: $9,306Liabilities 2016: $02016Assets 2017: $20,367Liabilities 2017: $02017Assets 2018: $809Liabilities 2018: $02018Assets 2019: $19,708Liabilities 2019: $02019Assets 2020: $3,592Liabilities 2020: $02020Assets 2021: $27,481Liabilities 2021: $02021Assets 2023: $1,352,378Liabilities 2023: $0Net Assets 2023: $1,352,3782023Assets 2024: $1,166,865Liabilities 2024: $0Net Assets 2024: $1,166,8652024Assets 2025: $773,558Liabilities 2025: $0Net Assets 2025: $773,5582025

Highlighted filing

2024

Assets$1,166,865
Liabilities$0
Net Assets$1,166,865
Open 2024 Filing

Operations Trend

Revenue Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $104,124Expenses 2011: $54,894Net Income 2011: $49,2302011Revenue 2012: $51,081Expenses 2012: $62,074Net Income 2012: -$10,9932012Revenue 2013: $50,714Expenses 2013: $58,283Net Income 2013: -$7,5692013Revenue 2014: $51,307Expenses 2014: $55,584Net Income 2014: -$4,2772014Revenue 2015: $50,260Expenses 2015: $70,329Net Income 2015: -$20,0692015Revenue 2016: $50,139Expenses 2016: $63,297Net Income 2016: -$13,1582016Revenue 2017: $53,547Expenses 2017: $42,485Net Income 2017: $11,0622017Revenue 2018: $6,948Expenses 2018: $26,506Net Income 2018: -$19,5582018Revenue 2019: $43,653Expenses 2019: $24,754Net Income 2019: $18,8992019Revenue 2020: $2,157Expenses 2020: $18,274Net Income 2020: -$16,1172020Revenue 2021: $125,432Expenses 2021: $101,543Net Income 2021: $23,8892021Revenue 2023: $1,406,707Expenses 2023: $74,984Net Income 2023: $1,331,7232023Revenue 2024: $151,374Expenses 2024: $336,887Net Income 2024: -$185,5132024Revenue 2025: $150,427Expenses 2025: $543,734Net Income 2025: -$393,3072025

Highlighted filing

2024

Revenue$151,374
Expenses$336,887
Net Income-$185,513
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Aug 19, 2024
Return Version
2023v5.1
Gross Receipts
$151,374
Mission and Program Overview

Mission

Scale PlanetReads Same Language Subtitling SLS innovation on mainstream entertainment content on TV and streaming in all languages for three purposes: 1 reading literacy 2 media access and 3 language learning driven by a strategy for systemwide adoption. In India where SLS is gaining traction it has the potential to benefit one billion people. Our system change effort will unfold over 5-7 years in India and is ultimately expected to benefit one billion people. This strategy shift is made possible by competing globally and winning a system change grant from Co-Impact. After successful implementation of SLS in India PlanetRead aims to scale SLS in other countries.

PlanetRead innovated Same Language Subtitling SLS for mass reading literacy. Champions SLS-related impact research pilots speech-to-text technology development and systemwide adoption and implementation on TV and streaming platforms for reading media access and language learning. Currently: India.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,352,378$1,166,865▼ $185,513
Savings and Temporary Cash Investments$0$1,024,942▲ $1,024,942
Cash and Non-Interest-Bearing Accounts$1,352,278$141,823▼ $1,210,455
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,352,378$1,166,865▼ $185,513
Other Assets Total$100$100→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,352,378$1,166,865▼ $185,513
Total Liabilities and Net Assets / Fund Balance$1,352,378$1,166,865▼ $185,513
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Brij KothariDirectorFT$141,291$141,291

Board Members and Trustees

NameTitle
Shweta SureshBoard Chair Director
Robert LynchCFO Director
Megan SmithDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$126,384
Program Service Revenue
$0
Investment Income
$24,990
Other Revenue
$0
All Other Contributions
$126,384
Change in Net Assets
$-185,513
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$141,579
Grants and Similar Amounts Paid$124,761
Other Expenses$70,547
Total Fundraising Expense$8,500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$141,291$0$0$141,291
Foreign Grants$124,761--$124,761
Information Technology$41,400$0$0$41,400
Fees for Services Accounting$0$10,978$0$10,978
Travel$4,317$0$0$4,317
Fees for Services Management$3,362$0$0$3,362
Insurance$0$1,500$0$1,500
Payroll Taxes$0$288$0$288
Other Expenses$0$20$0$20
All Other Expenses$0$8$0$8
Total Functional Expenses$315,238$13,149$8,500$336,887
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 15

“The CEO's compensation is determined by the board not including the CEO. An independent consultant handles the process including performance review.”

Filing and Contact Details

Filer

Filer Name
Planetread
EIN
57-1198966
In Care Of
% Brij Kothari
Phone
5104353175
Address
26 MANOR DR, PIEDMONT, CA 94611-4144

Signing Officer

Name
Brij Kothari
Title
Director
Signed
2024-08-19

Organization Details

Formed
2004
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
3
Employees
1
Volunteers
0
Supplemental Narrative

Additional Explanations

Part III, line 3

“PlanetRead was earlier involved in direct SLS project implementation. PlanetRead has now developed a national strategy for how SLS can be scaled up in India on TV and streaming in all Indian languages. While PlanetRead will continue to implement catalytic SLS projects and conduct impact research the emphasis has shifted to system adoption and implementation of SLS and open AI technology development to support a sustainable scale up of SLS for three main purposes: 1 reading literacy 2 media access and 3 language learning.”

Part XII, Line 2C

“Due to the jump in donations to PlanetRead in in FY2022 we conducted an independent audit for FY2022 and are conducting one for FY2023 too.”

Raw XML AppendixShowing 400 of 635 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0PlanetRead innovated Same Language Subtitling SLS for mass reading literacy. Champions SLS-related impact research pilots speech-to-text technology development and systemwide adoption and implementation on TV and streaming platforms for reading media access and language learning. Currently: India.
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IRS990/MissionDesc0Scale PlanetRead's Same Language Subtitling SLS innovation on mainstream entertainment content on TV and streaming in all languages for three purposes: 1 reading literacy 2 media access and 3 language learning driven by a strategy for systemwide adoption. In India where SLS is gaining traction it has the potential to benefit one billion people. Our system change effort will unfold over 5-7 years in India and is ultimately expected to benefit one billion people. This strategy shift is made possible by competing globally and winning a system change grant from Co-Impact. After successful implementation of SLS in India PlanetRead aims to scale SLS in other countries.
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IRS990/OtherExpensesGrp/TotalAmt1355
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,166,865
Liabilities
$0
Net assets
$1,166,865
Revenue
$151,374
Expenses
$336,887
Net income
-$185,513
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.77$0.00$0.77$0.15$0.54$0.39
2024Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$0.15$0.34$0.19
2023Detailed filing. Detailed filing data is available for this year.$1.35$0.00$1.35$1.41$0.07$1.33
2021Summary only. Only limited summary data is available for this year.$0.03$0.00$0.13$0.10$0.02
2020Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.02$0.02
2019Summary only. Only limited summary data is available for this year.$0.02$0.00$0.04$0.02$0.02
2018Summary only. Only limited summary data is available for this year.$0.00$0.00$0.01$0.03$0.02
2017Summary only. Only limited summary data is available for this year.$0.02$0.00$0.05$0.04$0.01
2016Summary only. Only limited summary data is available for this year.$0.01$0.00$0.05$0.06$0.01
2015Summary only. Only limited summary data is available for this year.$0.02$0.00$0.05$0.07$0.02
2014Summary only. Only limited summary data is available for this year.$0.04$0.00$0.05$0.06$0.00
2013Summary only. Only limited summary data is available for this year.$0.05$0.00$0.05$0.06$0.01
2012Summary only. Only limited summary data is available for this year.$0.05$0.00$0.05$0.06$0.01
2011Summary only. Only limited summary data is available for this year.$0.07$0.00$0.10$0.05$0.05