Joyful Readers Inc
Nonprofit profile at a glance
- EIN
- 862200001
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021, Form 990-N 2020
- Location
- Philadelphia, PA, USA
- Phone
- 2674675165
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Youth Development Programs
Reported finances
- Revenue
- $2,228,619
- Expenses
- $2,047,353
- Assets
- $937,296
- Liabilities
- $32,937
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- DAVID WEINSTEIN (EXECUTIVE DIRECTOR)
- BRITTNEY MATYAS CPA (PRESIDENT)
Highest reported compensation
- DAVID WEINSTEIN (EXECUTIVE DIRECTOR): $118,828 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization's mission is to ensure that all students gain the literacy skills they need to become successful, confident, and yes...joyful readers!
What it reported doing in 2024
Americorps reading tutoring program -joyful readers recruits and trains americorps members to serve as high-dosage reading tutors for philadelphia public school students who need additional support to read on grade level. The program is based on the extensive body of research that identifies high-dosage reading tutoring as one of the most effective education inteventions available to students. In the 2024-25 school year, the organization provided high-impact reading tutoring to 991 students in 18 philadelphia schools. External research on the joyful readers program has continued to find that students' reading growth outpaces the growth that would be expected in a typical school year. Joyful readers students are not only improving in reading, but also making meaningful progress towards closing the gap between their assessment scores and the national median score of students in the same grade between fall and spring. Most graduates from the joyful readers americorps member cohort report that their next step involves pursuing a career in the education field, helping joyful readers to contribute to a diverse pipeline of educators who will continue to serve students after their term of service.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 94
- Accountability: 95
- Sustainability: 47
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 80.5%; rating input score 80
- Program expense ratio: 87.6%; rating input score 88
- Fundraising efficiency: $11.15 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 91.7%; rating input score 92; 22nd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.1%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 0.46; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 75; 75th percentile among comparable filings
- Officer compensation ratio: 5.8%; rating input score 48; 48th percentile among comparable filings
Growth
- Program expense growth: 25.7% per year; rating input score 100; 90th percentile among comparable filings
- Revenue growth: 49.1% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: 57.3% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 80.5% of revenue deployed · 87.6% of spending went to programs
- Governance: 11 of 12 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1.8M in reported program spending
- Leadership: top reported pay $119K · 12 people listed
- Consistency: 31 of 31 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- 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.
- Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- Review — Sustainability: Operating margin scored 59/100.
- Moderate — Sustainability: Officer compensation ratio scored 48/100.