Civic Intelligence

Reading Edge Academy Inc.

990 • Fiscal year 2025 • EIN 59-3455253

Jul 01, 2024 to Jun 30, 2025 • Filed on Dec 15, 2025

Organization ProfileWWW.READINGEDGEACADEMY.ORG

View Organization Page

2975 Enterprise RdDebary, FL 32713

(386) 668-8911

Siviq Scores

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

Liabilities / Assets

66th percentile

0.25x

Higher debt load relative to assets than 66% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

65th percentile

0.28x

Higher debt load relative to revenue than 65% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

41st percentile

1.8%

Higher net margin than 41% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

36th percentile

0.5%

Faster asset growth than 36% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

27th percentile

-4.0%

Faster revenue growth than 27% of similar nonprofits.

2025 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$5,584,226

Down $616,244 (-9.9%) from 2022

Net Assets

Down

$4,175,244

Down $196,654 (-4.5%) from 2022

Liabilities

Down

$1,408,982

Down $419,590 (-23%) from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin41st percentile

Revenue

Up

$5,096,099

Up $249,769 (+5.2%) from 2022

Expenses

Up

$5,005,359

Up $217,515 (+4.5%) from 2022

Net Income

Up

$90,740

Up $32,254 (+55%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2018: $6,816,241Liabilities 2018: $2,242,249Net Assets 2018: $4,573,9922018Assets 2019: $6,844,746Liabilities 2019: $2,196,846Net Assets 2019: $4,647,9002019Assets 2020: $6,432,623Liabilities 2020: $1,991,988Net Assets 2020: $4,440,6352020Assets 2021: $6,194,209Liabilities 2021: $1,880,797Net Assets 2021: $4,313,4122021Assets 2022: $6,200,470Liabilities 2022: $1,828,572Net Assets 2022: $4,371,8982022Assets 2025: $5,584,226Liabilities 2025: $1,408,982Net Assets 2025: $4,175,2442025

Highlighted filing

2025

Assets$5,584,226
Liabilities$1,408,982
Net Assets$4,175,244
Open 2025 Filing

Operations Trend

Revenue Growth27th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $4,660,186Expenses 2018: $4,335,367Net Income 2018: $324,8192018Revenue 2019: $4,537,015Expenses 2019: $4,463,107Net Income 2019: $73,9082019Revenue 2020: $4,086,904Expenses 2020: $4,294,169Net Income 2020: -$207,2652020Revenue 2021: $4,347,791Expenses 2021: $4,475,014Net Income 2021: -$127,2232021Revenue 2022: $4,846,330Expenses 2022: $4,787,844Net Income 2022: $58,4862022Revenue 2025: $5,096,099Expenses 2025: $5,005,359Net Income 2025: $90,7402025

Highlighted filing

2025

Revenue$5,096,099
Expenses$5,005,359
Net Income$90,740
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 15, 2025
Return Version
2024v5.0
Gross Receipts
$5,096,099
Mission and Program Overview

Mission

The school is a not for profit public charter elementary school that emphasizes reading education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,643,833$4,590,710▼ $53,123
Cash and Non-Interest-Bearing Accounts$325,541$487,260▲ $161,719
Savings and Temporary Cash Investments$477,382$386,875▼ $90,507
Prepaid Expenses and Deferred Charges$92,146$56,229▼ $35,917
Accounts Receivable-$42,562-
Inventories for Sale or Use$11,318$7,700▼ $3,618
Total Assets$5,558,470$5,584,226▲ $25,756
Other Assets Total$8,250$12,890▲ $4,640
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,372,213$1,325,634▼ $46,579
Accounts Payable and Accrued Expenses$101,753$83,348▼ $18,405
Total Liabilities$1,473,966$1,408,982▼ $64,984
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,084,504$4,175,244▲ $90,740
Total Net Assets Fund Balance$4,084,504$4,175,244▲ $90,740
Total Liabilities and Net Assets / Fund Balance$5,558,470$5,584,226▲ $25,756

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,702,155$3,282,026$6,984,181
Land$703,616-$703,616
Equipment$184,939$436,000$620,939
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Yvette WilliamsChair
Carine SantiagoVice Chair
Beverly GillespieExecutive Di
Stephanie IngbergSecretary
Allison DiorioTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,646,912
Program Service Revenue
$275,149
Investment Income
$13,881
Other Revenue
$160,157
All Other Contributions
$41,891
Change in Net Assets
$90,740

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,096,099
Total Revenue per Audited Statements
$5,096,099
Total Revenue per Form 990
$5,096,099
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,224,165
Other Expenses$1,781,194
Total Fundraising Expense$3,912
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,310,216$410,552-$2,720,768
Occupancy$432,669$48,074-$480,743
All Other Expenses$208,125$71,541-$279,666
Other Employee Benefits$201,835$47,982-$249,817
Depreciation Depletion$213,127$31,015$3,912$248,054
Payroll Taxes$183,257$31,235-$214,492
Insurance$98,702--$98,702
Other Expenses$95,274$91,881-$95,274
Interest$69,960--$69,960
Pension Plan Contributions$30,475$8,613-$39,088
Office Expenses$64$9,406-$9,470
Advertising-$1,064-$1,064
Total Functional Expenses$4,195,897$805,550$3,912$5,005,359

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,005,359
Total Expenses per Audited Statements$5,005,359
Total Expenses per Form 990$5,005,359
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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 finance manager reviews the form 990 and presents it during a board meeting. The directors are given the chance to review and ask questions regarding the form 990. An officer signs the form 990.”

Form 990, Page 6, Part VI, Line 15A

“The board reviews and approves the yearly compensation of the principal. Management has compared the proposed principal's salary to similiar positions in this area prior to the board review.”

Form 990, Page 6, Part VI, Line 15B

“No officer receives compensation as part of his/her duties as an officer. The key employee is the principal-process described in 15(a).”

Form 990, Page 6, Part VI, Line 19

“The school provides governing documents and financial statements to the public upon request. The financial statements are also available as a component unit of the volusia county school district. The financial statements are available on the school's website at www.readingedgeacademy.org”

Filing and Contact Details

Filer

Filer Name
Reading Edge Academy Inc
EIN
59-3455253
Phone
3866688911
Address
2975 ENTERPRISE RD, DEBARY, FL 32713

Signing Officer

Name
Beverly Gillespie
Title
Executive Director
Phone
3866688911
Signed
2025-12-15

Organization Details

Principal Officer
Beverly Gillespie
Formed
1997
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
88
Volunteers
225

Preparer

Firm
Dreggors Rigsby & Teal Pa
Address
1006 N WOODLAND BLVD, DELAND, FL 32720-2769
Preparer
Ronald J Cantlay
Phone
3867349441
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers provide hours for parent-teacher organization projects and other school related instructional support.”

Raw XML Appendix368 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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IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
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IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY'S CHARTER WITH THE SCHOOL BOARD OF VOLUSIA COUNTY, FLORIDA STATES THAT THERE IS A NONDISCRIMINATORY POLICY. THIS CHARTER IS PART OF THE PUBLIC RECORDS OF VOLUSIA COUNTY. THE ACADEMY ALSO ADVERTISES IN LOCAL PAPERS, CHURCHES AND PUBLIC PLACES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ACADEMY IS A COMPONENT OF THE SCHOOL BOARD OF VOLUSIA COUNTY, FL. AND RECEIVES THE MAJORITY OF IT'S FINANCING FROM THIS GOVERNMENTAL BODY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS PROVIDE HOURS FOR PARENT-TEACHER ORGANIZATION PROJECTS AND OTHER SCHOOL RELATED INSTRUCTIONAL SUPPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCE MANAGER REVIEWS THE FORM 990 AND PRESENTS IT DURING A BOARD MEETING. THE DIRECTORS ARE GIVEN THE CHANCE TO REVIEW AND ASK QUESTIONS REGARDING THE FORM 990. AN OFFICER SIGNS THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS AND APPROVES THE YEARLY COMPENSATION OF THE PRINCIPAL. MANAGEMENT HAS COMPARED THE PROPOSED PRINCIPAL'S SALARY TO SIMILIAR POSITIONS IN THIS AREA PRIOR TO THE BOARD REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO OFFICER RECEIVES COMPENSATION AS PART OF HIS/HER DUTIES AS AN OFFICER. THE KEY EMPLOYEE IS THE PRINCIPAL-PROCESS DESCRIBED IN 15(A).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SCHOOL PROVIDES GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE AS A COMPONENT UNIT OF THE VOLUSIA COUNTY SCHOOL DISTRICT. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE SCHOOL'S WEBSITE AT WWW.READINGEDGEACADEMY.ORG
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05558470
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IRS990/TotalAssetsGrp/BOYAmt05558470
IRS990/TotalAssetsGrp/EOYAmt05584226
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IRS990/TotalContributionsAmt04646912
IRS990/TotalEmployeeCnt088
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03912
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0805550
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt04195897
IRS990/TotalFunctionalExpensesGrp/TotalAmt05005359
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01473966
IRS990/TotalLiabilitiesEOYAmt01408982
IRS990/TotalLiabilitiesGrp/BOYAmt01473966
IRS990/TotalLiabilitiesGrp/EOYAmt01408982
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04084504
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04175244
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt07976
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt07976
IRS990/TotalProgramServiceExpensesAmt04195897
IRS990/TotalProgramServiceRevenueAmt0275149
IRS990/TotalRevenueGrp/ExclusionAmt0406625
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt042562
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05096099
IRS990/TotalVolunteersCnt0225
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05558470
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05584226
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.READINGEDGEACADEMY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BEVERLY GILLESPIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03866688911
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-12-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0READING EDGE ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0READ
ReturnHeader/Filer/EIN0593455253
ReturnHeader/Filer/PhoneNum03866688911
ReturnHeader/Filer/USAddress/AddressLine1Txt02975 ENTERPRISE RD
ReturnHeader/Filer/USAddress/CityNm0DEBARY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd032713
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593623200
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DREGGORS RIGSBY & TEAL PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01006 N WOODLAND BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0327202769
ReturnHeader/PreparerPersonGrp/PhoneNum03867349441
ReturnHeader/PreparerPersonGrp/PreparationDt02025-12-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD J CANTLAY
ReturnHeader/ReturnTs02025-12-16T09:30:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,584,226
Liabilities
$1,408,982
Net assets
$4,175,244
Revenue
$5,096,099
Expenses
$5,005,359
Net income
$90,740
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$5.58$1.41$4.18$5.10$5.01$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.20$1.83$4.37$4.85$4.79$0.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.19$1.88$4.31$4.35$4.48$0.13
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.43$1.99$4.44$4.09$4.29$0.21
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.84$2.20$4.65$4.54$4.46$0.07
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.82$2.24$4.57$4.66$4.34$0.32