Read Ministries Inc

Nonprofit profile at a glance

EIN
200222800
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
St Cloud, MN, USA
Phone
7635520652
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Official website

Reported finances

Revenue
$665,502
Expenses
$574,164
Assets
$497,140
Liabilities
$2,743

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • STEVEN ECKERT (EXECUTIVE DI): $99,639 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Equipping the eurasian church for effective ministry (ukraine, kazakstan, kyrgyzstan, belarus, restricted access countries).

What it reported doing in 2024

Support of war relief initiatives in ukraine (due to russia's aggression which started in february 2022): due to russia's unprovoked invasion of ukraine near the end of february, 2022, and the resulting humanitarian satastrophe, read ministries continued its crisis relief fund during 2024 to provide financial resources for assisting its trusted legacy ukrainian partners and their crisis response efforts. Both esisting and new financial supporters of read ministries responded with stunning generosity and continued to respond during 2024. In 2024, read ministries distributed a total of 111,489 from its crisis relief fund to its ukrainian-partner network scattered across ukraine.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 75
  • Accountability: 84
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.3%; rating input score 63
  • Program expense ratio: 72.7%; rating input score 73
  • Fundraising efficiency: $7.62 raised per $1 spent on fundraising; rating input score 29; 29th 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: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 13.7%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 17.4%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 12.6% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 63.3% of revenue deployed · 72.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $417K in reported program spending
  • Leadership: top reported pay $100K · 8 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.