The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability:
19
Room to Read meets the remaining 19 Standards for Charity Accountability.
Room to Read (RTR) reports that its programs operate in sixteen countries, working to bring literacy and education to low-income communities. Partnering with local communities, partner organizations, and governments, the organization designs, tests, and implements its educational program models to develop literacy skills and a habit of reading among primary school children to ensure competitiveness in secondary school. The literacy program supplies primary school libraries with books in the children's native languages and trains teachers and librarians in how to engage a classroom with young children. The organization's girls' education program works to address gender inequality in the educational system and offers girls life skills training, mentoring, and needs-based material support. RTR also offers technical assistance to countries utilizing its education models. In 2020, the organization states that it had 29,527 girls enrolled in its educational program, operated 20,926 active literacy programs in schools, and published 98 local language titles.
For the year ended December 31, 2020, Room to Read's program expenses were:
Literacy |
$31,101,264 |
Girls' education |
$10,700,299 |
Total Program Expenses: |
$41,801,563 |
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Print advertisements (newspapers, magazines, etc.), Telephone appeals, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 7% of related contributions. (Related contributions, which totaled $61,772,697 are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Room to Read's audited financial statements - consolidated for the year ended December 31, 2020.
Source of Funds |
Contributions, net |
$24,651,707 |
Corporations |
$15,862,424 |
Foundations |
$11,489,283 |
Schools, governments, and other |
$5,073,051 |
In-kind contributions |
$4,757,294 |
Interest, dividends, and investment income |
$737,007 |
Revenue from contracts with customers |
$55,000 |
Special events, net |
($61,062) |
Total Income |
$62,564,704 |
- Programs: 88%
- Fundraising: 9%
- Administrative: 3%
Total Income |
$62,564,704 |
Program expenses |
$41,801,563 |
Fundraising expenses |
$4,344,585 |
Administrative expenses |
$1,876,847 |
Other expenses |
$0 |
Total expenses: |
$48,022,995 |
Income in Excess of Expenses |
$14,541,709 |
Beginning Net Assets |
$29,942,569 |
Other Changes In Net Assets |
$-190,021 |
Ending Net Assets |
$44,294,257 |
Total Liabilities |
$7,060,491 |
Total Assets |
$51,354,748 |
Note 1: As noted in the above financial section, "other changes in net assets" refers to currency translation adjustments ($315,627), other loss (-$176,670), and loss on foreign currency exchange (-$328,978).
Note 2: According to RTR's 2020 audited financial statements, the organization received $4,757,294 in contributed goods and services including English language books ($4,074,900), computer software ($497,737), materials and services ($108,217), and rent ($76,440).