2023-04-17T08:36:10-05:00 2022-06-30 271728945 PKF O'CONNOR DAVIES ADVISORY LLC 245 PARK AVENUE 12TH FLOOR NEW YORK NY 10167 990 2021-07-01 133666846 READ TO LEAD INC READ 8002580640 123 WILLIAM STREET 12TH FLOOR NEW YORK NY 10038 LEWIS W BERNARD CHAIRMAN 8002580640 2023-04-17 1 LEWIS BERNARD XXX-XX-XXXX EVA MRUK P00543254 2122862600 2023-04-14 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z LEWIS W BERNARD 123 WILLIAM STREET 12TH FLOOR NEW YORK NY 10038 4175633 0 X WWW.READTOLEAD.ORG X 1992 NY TO HELP STUDENTS IN HIGH-POVERTY COMMUNITIES BUILD LITERACY AND LEADERSHIP SKILLS. 12 11 18 13 0 0 3213738 2909834 500 30000 12125 4416 0 233708 3226363 3177958 0 0 0 0 1412515 1395824 0 177970 696581 2292834 2124011 3705349 3697805 -478986 -519847 6999794 3901385 651609 631697 6348185 3269688 X TO HELP STUDENTS IN HIGH-POVERTY COMMUNITIES DEVELOP LITERACY AND LEADERSHIP SKILLS. BY CREATING DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD AND SUPPORTING EDUCATORS IN CREATING STUDENT-CENTERED CLASSROOMS, WE INVITE STUDENTS TO TAKE CHARGE OF THEIR LEARNING. READ TO LEAD, INC. BELIEVES THAT WHEN STUDENTS TAKE ON THE LEADERSHIP ROLE IN OUR LEARNING GAMES, THEY READ MORE CLOSELY, THINK CRITICALLY, AND BECOME BETTER PROBLEM SOLVERS. READ TO LEAD, INC.'S RESEARCH SHOWS THAT STUDENTS-ESPECIALLY THOSE STRUGGLING WITH LITERACY IMPROVE IN THEIR READING AND WRITING ACHIEVEMENT, FIND MOTIVATION IN BEING THE LEADER, AND SEE THE TRUE CONNECTION BETWEEN SCHOOL AND THEIR FUTURES. 0 0 1041948 0 30000 CURRICULUM & RESOURCES FOR EDUCATORS: READ TO LEAD, INC. CREATES DIGITAL LEARNING GAMES AND CURRICULUM SET IN THE PROFESSIONAL WORLD THAT FOSTER STUDENTS' LITERACY AND LEADERSHIP SKILLS AND CONNECT SCHOOL TO LIFE IN THE WORKPLACE. OUR SUITE OF LITERACY LEARNING GAMES, THE READ TO LEAD SERIES, HELPS STUDENTS DEVELOP ADVANCED LITERACY SKILLS, INCREASES CAREER READINESS, AND BUILDS 21ST CENTURY SKILLS SUCH AS PERSISTENCE AND DECISION-MAKING. THE LEARNING GAMES, CURRICULUM, ALONG WITH PROFESSIONAL DEVELOPMENT RESOURCES FOR EDUCATORS ARE FREELY ACCESSIBLE ONLINE FOR BOTH SCHOOL DAY AND OUT-OF-SCHOOL TIME USE.THROUGH ITS DIGITAL PLATFORM, READ TO LEAD, INC. REACHES EDUCATORS AND STUDENTS NATIONWIDE. ANY EDUCATOR CAN REGISTER FOR FREE AND HAVE ACCESS TO READ TO LEAD, INC.'S LEARNING GAMES AND CURRICULUM. 1033321 0 0 DIRECT SUPPORT TO PARTNERS: READ TO LEAD, INC. PARTNERS WITH SCHOOLS AND COMMUNITY-BASED ORGANIZATIONS IN HIGH-POVERTY COMMUNITIES ACROSS THE UNITED STATES TO PROVIDE TURN-KEY CURRICULUM AND RESOURCES, ALONG WITH UNIQUE WORKPLACE LITERACY LEARNING GAME EXPERIENCES, TO SUPPORT SCHOOL DAY AND OUT-OF-SCHOOL TIME LEARNING AND ENGAGEMENT.IN ADDITION, TO IMPROVE STUDENT OUTCOME READ TO LEAD, INC. OFFERS EDUCATORS IN-PERSON AND VIRTUAL COACHING SUPPORT AND TRANSFORMS THE WAY EDUCATORS USE PROJECT-BASED AND PERSONALIZED LEARNING TOOLS. SOME OF READ TO LEAD, INC.'S SCHOOL PARTNER SITES ALSO SERVE AS OUR "LEARNING LABS," INFORMING OUR DIGITAL PRODUCTION AND ENSURING THAT WE ARE ALWAYS DESIGNING FROM REAL-LIFE EXPERIENCE. 306438 0 0 RESEARCH AND ASSESSMENT: READ TO LEAD, INC. CONDUCTS RESEARCH TO ASSESS THE IMPACT OF ITS PROGRAMS ON STUDENTS AND TO PROVIDE REGULAR FEEDBACK THAT ENABLES CONTINUOUS IMPROVEMENT. BOTH INTERNAL AND EXTERNAL EVALUATIONS HAVE CONSISTENTLY SHOWN THAT OUR PROGRAMS EFFECTIVELY IMPROVE STUDENTS' LITERACY, READING ATTITUDES AND BEHAVIORS, 21ST CENTURY SKILLS, AND COLLEGE - AND CAREER-READINESS. 2381707 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 31 0 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR AZ CA FL GA IL KY KS LA MA ME MD MI MN MO NH NM NJ NY NC ND OR OK PA SC UT VA WV WI X X X PETER SCAGLIONE 8002580640 123 WILLIAM STREET 12TH FLOOR NEW YORK NY 10038 LEWIS W BERNARD CHAIRMAN 10.00 X X 0 0 0 CARL W TURNIPSEED TREASURER 2.00 X X 0 0 0 BEVERLY F CHASE SECRETARY 5.00 X X 0 0 0 NICOLE CAMPBELL DIRECTOR 1.00 X 0 0 0 CHRISTINA CHIU DIRECTOR 1.00 X 0 0 0 JON FRIEDLAND DIRECTOR 1.00 X 0 0 0 BRIAN GOLDSTON DIRECTOR (THRU 08/21) 1.00 X 0 0 0 LISA KENNEDY DIRECTOR 1.00 X 0 0 0 SHANNON KETE DIRECTOR 1.00 X 0 0 0 MICHAEL MCCORMICK DIRECTOR 1.00 X 0 0 0 MITA PATNAIK DIRECTOR 1.00 X 0 0 0 NICK RUDENSTINE DIRECTOR 2.00 X 0 0 0 CYNTHIA VANCE DIRECTOR 1.00 X 0 0 0 CHRISTINA OLIVER EXECUTIVE DIRECTOR (THRU 01/22) 35.00 X 211886 0 10452 KEVIN BEDEAU VP DIGITAL PRODUCT STRATEGY (THRU 02/22) 40.00 X 163079 0 7235 NICHOLAS HAYNES MAN. DIR., DEVELOPMENT 40.00 X 144217 0 18439 KWAMARA THOMPSON MAN DIR PROGRAMS & PARTNERSHIPS (THRU 12/21) 40.00 X 123483 0 17403 NICHOLAS OVERTON DIR., SOFTWARE ENGINEERING 40.00 X 106750 0 16566 ALISON TEPPER DIR., CONTENT & CURRICULUM 40.00 X 105594 0 19644 JULIANA HESS DIR., RESEARCH & LEARNING DESIGN 40.00 X 111802 0 17815 966811 0 107554 8 0 1 0 ASTEA SOLUTIONS INC 445 ROUTE 304 BARDONIA NY 10954 SOFTWARE DEVELOPMENT 400000 YOUR PART-TIME CONTROLLER LLC 1500 WALNUT ST STE 1200 PHILADELPHIA PA 19102 ACCOUNTING SERVICES 145763 2 100000 2809834 108000 2909834 EDU. GAME DEVELOPMENT 611710 30000 30000 30000 3720 3720 998371 997675 696 696 696 LEASE TERMINATION 900099 233708 233708 233708 3177958 30000 0 238124 X 327716 112285 215431 861716 484077 53715 323924 46996 26376 2139 18481 50172 26071 9767 14334 109224 56756 21261 31207 44600 44600 177970 177970 535452 280380 197175 57897 132108 132108 129552 95183 18413 15956 76277 55806 12477 7994 405682 328292 37824 39566 14242 11069 1521 1652 2693 2194 239 260 745634 743301 1141 1192 24519 19833 2290 2396 OTHER PRODUCT SUPPLIES 6177 6177 STAFF DEVELOPMENT 5946 1586 1260 3100 REBRANDING EXPENSE 799 213 169 417 MISC. EXPENSES 330 0 95 235 3697805 2381707 619517 696581 451518 632447 796826 395183 1596679 25050 0 0 50977 50689 62187 16852 52708 45335 2172731 2700459 1870055 41038 8300 11184 6999794 3901385 424103 610237 227506 21460 651609 631697 X 4264881 2929688 2083304 340000 6348185 3269688 6999794 3901385 X -519847 1144 -2559794 X X 0 1 X 1 0 X 3603441 4863714 3377488 2868063 2909834 17622540 3603441 4863714 3377488 2868063 2909834 17622540 6595477 11027063 8877 10629 11112 1359 3720 35697 233708 233708 17891945 210460 0.61630 0.69380 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: LEASE TERMINATION - 2021 AMOUNT: $ 233,708. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 250000 250000 250000 250000 250000 250000 250000 250000 250000 250000 0.00000 1.00000 0.00000 0 0 3207 1110 2097 58980 15742 43238 45335 DEFERRED RENT PAYABLE 21460 21460 X 2496970 1144 63543 64687 2432283 745675 745675 3177958 5575467 63543 1814119 1877662 3697805 0 3697805 PART V, LINE 4: THE ENDOWMENT CONSISTS ENTIRELY OF INDIVIDUAL DONOR-RESTRICTED FUNDS, IN THE AMOUNT OF $250,000, ESTABLISHED FOR A VARIETY OF PURPOSES, BUT NOT TO BE USED FOR THE ORGANIZATION'S GENERAL OPERATING EXPENSES. PART X, LINE 2: READ TO LEAD, INC. ("RTL") RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT RTL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. RTL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR THE PERIODS PRIOR TO 2019. PART XI, LINE 4B - OTHER ADJUSTMENTS: WRITE-OFF OF UNCOLLECTIBLE PLEDGES 745,675. PART XII, LINE 2D - OTHER ADJUSTMENTS: IMPAIRMENT OF PRODUCT DEVELOPMENT COSTS 1,814,119. X X X X 1 MARY CASLIN ROSS 6 VISTA DEL CERRO SANTA FE NM 87508 CAPITAL CAMPAIGN STRATEGY SERVICES 0 967325 114445 852880 JC GEEVER INC 32 BROADWAY SUITE 301 NEW YORK NY 10004 FUNDRAISING MANAGEMENT SERVICES 0 0 63525 -63525 967325 177970 789355 AL AK AR CA CT DC FL GA IL KY KS LA ME MD MA MI MN MO NV NH NM NY ND OH OK PA RI SC UT VA WA WV WI SCHEDULE G, PART I, LINE 2B, COLUMN (V) JC GEEVER, INC. PERFORMED FUNDRAISING SERVICES PURSUANT TO AGREEMENTS DATED JANUARY 22, 2021, AND JANUARY 14, 2022. THE AGREEMENT WITH JC GEEVER, INC. PROVIDES FOR THE PAYMENT OF FEES IN THE AMOUNT OF $6,000 PER MONTH FOR PROFESSIONAL SERVICES AND FOR THE PAYMENT OF A MONTHLY ADMINISTRATIVE FEE OF $50 TO DEFRAY EXPENSES. ADDITIONALLY, THE AGREEMENT PROVIDES FOR THE PAYMENT OF DIRECT OUT-OF-POCKET EXPENSES, SUCH AS POSTAGE, NOT TO EXCEED $50 PER MONTH WITHOUT PRIOR APPROVAL. MARY CASLIN ROSS PERFORMED FUNDRAISING SERVICES PURSUANT TO AN AGREEMENT DATED MARCH 1, 2022. UNDER THE AGREEMENT , READ TO LEAD, INC. AGREED TO PAY MARY CASLIN ROSS A FEE BASED UPON A RATE OF $270.00 PER HOUR FOR ONE SEVEN-HOUR WORK DAY EACH WEEK. ESTIMATING 1 DAY PER WEEK FOR 46 WEEKS AT 7 HOURS PER DAY, PLUS THE 69 ADDITIONAL HOURS IF NEEDED, READ TO LEAD, INC. EXPECTS TO PAY MARY ROSS NO MORE THAN A FEE OF $105,570 PER ANNUM. READ TO LEAD, INC. WILL MAKE BI-WEEKLY PAYMENTS TO MARY ROSS BY EITHER WIRE TRANSFER OR CHECK. IN LIGHT OF MARY ROSS' EXPERTISE, UNIQUE KNOWLEDGE OF READ TO LEAD AND ITS THEN CURRENT AND PROSPECTIVE DONORS, AND HER EXCELLENT PERFORMANCE ON BEHALF OF READ TO LEAD, THE BOARD WAS EAGER FOR MARY ROSS TO RENEW HER AGREEMENT WITH READ TO LEAD EFFECTIVE MARCH 1, 2022, AND, AS AN INCENTIVE TO HER RENEWING THE AGREEMENT, AGREED TO PAY HER A RETENTION BONUS OF $100,000, IN TWO INSTALLMENTS, OF WHICH THE FIRST $50,000 WAS PAID FOLLOWING HER EXECUTION OF THE RENEWED AGREEMENT. X X X 0 0 0 0 0 0 0 1 0 CHRISTINA OLIVER EXECUTIVE DIRECTOR (THRU 01/22) 201886 0 10000 0 0 0 10452 0 0 0 222338 0 0 0 KEVIN BEDEAU VP DIGITAL PRODUCT STRATEGY (THRU 02/22) 163079 0 0 0 0 0 7235 0 0 0 170314 0 0 0 NICHOLAS HAYNES MAN. DIR., DEVELOPMENT 144217 0 0 0 0 0 7311 0 11128 0 162656 0 0 0 PART I, LINE 7 THE ORGANIZATION PAID A DISCRETIONARY BONUS TO AN INDIVIDUAL LISTED IN PART II AS REPORTED IN COLUMN B(II). X 2 108000 AVG. SELLING PRICE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B) OF SCHEDULE M. FORM 990, PART I, QUESTION 5, AND PART V, QUESTION 2A THE ORGANIZATION CONTRACTED WITH A PROFESSIONAL EMPLOYER ORGANIZATION (PEO) FOR SERVICES, INCLUDING BUT NOT LIMITED TO, PAYROLL, TIMEKEEPING, EMPLOYEE BENEFITS, HR ADMINISTRATION AND WORKFORCE REGULATORY COMPLIANCE NEEDS. AS THE EMPLOYER OF RECORD FOR TAX PURPOSES, FORMS W-2 AND W-3 ARE ISSUED BY THE PEO AND FILED UNDER THE PEO'S FEDERAL EIN. IN THIS CO-EMPLOYMENT ARRANGEMENT, THE ORGANIZATION IS THE COMMON LAW EMPLOYER AND, ACCORDINGLY, COMPENSATION IS REPORTED ON FORM 990, PART VII, SECTION A AND PART IX, LINES 5-10. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE TREASURER AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT IS ELECTRONICALLY SENT TO THE AUDIT COMMITTEE FOR ANY COMMENTS. A COPY OF THE FORM 990 IS THEN EMAILED TO THE FULL BOARD OF DIRECTORS FOR THEIR REVIEW. THE DIRECTORS ARE ASKED TO PROVIDE ANY COMMENTS OR QUESTIONS TO THE TREASURER, WHICH ARE REVIEWED AND CONSIDERED AND THE FORM 990 IS UPDATED ACCORDINGLY, PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL DIRECTORS, OFFICERS, AND KEY PERSONS. SUCH PERSONS ARE REQUIRED TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST ANNUALLY AND AS THEY MAY ARISE TO THE COMPLIANCE OFFICER OF THE AUDIT COMMITTEE. THE AUDIT COMMITTEE IS RESPONSIBLE FOR DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS AND WHETHER OR NOT TO PROCEED WITH THE TRANSACTION. THE INTERESTED PERSON IS NOT PERMITTED TO VOTE ON OR EXERCISE ANY INFLUENCE ON THE DECISIONS. THE PROCEEDINGS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF READ TO LEAD, INC.'S EXECUTIVE DIRECTOR IS DETERMINED BY THE COMPENSATION COMMITTEE, ONE OF THE GOVERNING COMMITTEES OF THE BOARD OF DIRECTORS. THE COMPENSATION COMMITTEE OF THE BOARD IS RESPONSIBLE FOR: 1) APPROVING YEAR-END COMPENSATION DECISIONS FOR THE ORGANIZATION INCLUDING MERIT INCREASES AND BONUSES; 2) APPROVING ANNUAL COMPENSATION FOR EMPLOYEES IN EXCESS OF $125,000; AND 3) APPROVING ANY MATERIAL CHANGES IN COMPENSATION PROGRAMS SUCH AS QUALIFIED RETIREMENT PLANS, MEDICAL, ETC. OFFICERS AND KEY EMPLOYEES INCLUDE ALL EMPLOYEES HOLDING POSITIONS OF SENIOR DIRECTOR AND ABOVE. THE COMPENSATION COMMITTEE IS CHAIRED BY AN INDEPENDENT VOTING MEMBER OF THE BOARD AND CONSISTS OF OTHER INDEPENDENT VOTING MEMBERS OF THE BOARD. THE COMMITTEE REVIEWS COMPENSATION OF COMPARABLE NONPROFIT ORGANIZATIONS, ECONOMIC CONDITIONS OF THE MARKETPLACE AND INDIVIDUAL PERFORMANCE TO DETERMINE COMPENSATION. THE COMMITTEE MEETS AS NECESSARY, BUT AT LEAST ONCE A YEAR, TO REVIEW ALL EMPLOYEES' COMPENSATION, AND THE DELIBERATIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. THE PROCESS WAS LAST UNDERTAKEN IN 2021. FORM 990, PART VI, SECTION C, LINE 19 READ TO LEAD, INC. POSTS ITS AUDITED FINANCIAL STATEMENTS AND FORM 990 ON ITS WEBSITE, PROVIDES COPIES ON REQUEST, AND MAKES THEM AVAILABLE FOR INSPECTION AT THE READ TO LEAD, INC.'S OFFICE. THE FORM 990 IS ALSO AVAILABLE ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER HONORARIA: PROGRAM SERVICE EXPENSES 1,067. MANAGEMENT AND GENERAL EXPENSES 848. FUNDRAISING EXPENSES 2,086. TOTAL EXPENSES 4,001. PROGRAM CONSULTANTS/OTHERS: PROGRAM SERVICE EXPENSES 125,272. MANAGEMENT AND GENERAL EXPENSES 177,217. FUNDRAISING EXPENSES 43,080. TOTAL EXPENSES 345,569. SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 41,592. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 41,592. RECRUITING & HIRING: PROGRAM SERVICE EXPENSES 51,154. MANAGEMENT AND GENERAL EXPENSES 5,907. FUNDRAISING EXPENSES 6,178. TOTAL EXPENSES 63,239. PEO FEES: PROGRAM SERVICE EXPENSES 61,295. MANAGEMENT AND GENERAL EXPENSES 13,203. FUNDRAISING EXPENSES 6,553. TOTAL EXPENSES 81,051. FORM 990, PART XI, LINE 9: WRITE-OFF OF UNCOLLECTIBLE PLEDGES -745,675. IMPAIRMENT OF PRODUCT DEVELOPMENT COSTS -1,814,119. FORM 990, PART XII, LINE 2C: READ TO LEAD, INC. HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.