Faithful Readers Inc
Nonprofit profile at a glance
- EIN
- 863674045
- IRS 990-EZ coverage
- 2021–2021
- Forms available
- Form 990-EZ 2021
- Location
- Lakeland, FL, USA
- Phone
- 2054008557
- Rating
- 48
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $5,290
- Expenses
- $1,601
- Assets
- $3,689
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2021. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- John Glenn (Executive Director)
- Rachel Andre Glenn (Vice President)
- Berkley King (Vice President)
People named in this filing
- John Glenn (Executive Director)
- Rachel Andre Glenn (Vice President)
- Berkley King (Vice President)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purpose of is this corporation is: 1. To create and support literacy initiatives designed to develop the critical thinking skills and intellectual capacities of underprivileged and underserved minority youths; 2. To foster community and faith-based engagement using insights from the Humanities and STEM disciplines; and 3. To counter the effects of poverty and the social costs of inadequate education
What it reported doing in 2021
Mission Development Phase *Purchased office equipment
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 22
- Transparency & Controls: 82
- Sustainability: 77
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 12%; rating input score 12
- Program expense ratio: 39.2%; rating input score 39
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 69.7%; rating input score 94; 94th percentile among comparable filings
- Total-asset coverage ratio: 2.3; rating input score 61; 61st percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 12% of revenue deployed · 39.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $628 in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 12/100.
- Moderate — Financial Efficiency: Program expense ratio scored 39/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.