Financials

 

The Children’s Reading Foundation 

reported a net income of $199,000 

for the fiscal year that ended June 30, 

2016. Total income was $3.8 million, an 

increase of 24 percent year-over-year, 

which is attributable to strong READY! 

for Kindergarten kit sales. Non-grant 

READY! kit sales increased 22 percent 

to 21,529 kits. An additional 10,038 

READY! kits were provided as part of 

the U.S. Department of Education Inno-

vative Approaches to Literacy Grant, 

an increase of 67 percent over the prior 

year. No profit was recognized on grant 

activities. 
Expenses also increased, as the foun-

dation continued to invest in product 

development and outreach. Those 

costs accounted for approximately 26 

percent of total expenses at $297,000 

and $294,000, respectively. Office and 

general expenses totaled $769,000 or 

33 percent of total expenses (including 

payroll expenses of $555,000).
The Children’s Reading Foundation 

continues to maintain sufficient working 

capital to meet its business objectives. 

The foundation had $980,000 in cash 

and cash equivalents, while total liabili-

ties were $32,000 as of June 30, 2016.

Income & Sales

0

5,000

10,000

15,000

20,000

25,000

30,000

2012

2013

2014

2015

2016

 

Non-Grant

 

 

Grant

 

2012

 17,389 

- 

2013

 15,240 

 3,209 

2014

17,851

 5,585 

2015

 17,692 

 5,996 

2016

 21,529 

 10,038 

  

2012

 $ 1,199,000 

2013

 2,128,000 

2014

 2,702,000 

2015

 3,077,000 

2016

 3,814,000 

READY! KIT SALES

BY TYPE

TOTAL 

INCOME

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

2012

2013

2014

2015

2016

$ 3,500,000

KITS