The Children's Home of Reading Youth & Family Services
The Children’s Home of Reading (CHOR) is a multi-faceted social service nonprofit offering specialized residential, educational, and community-based programs to help at-risk children and their families. The Children’s Home of Reading offers over 40 different programs & services that meet the unique needs of over 3,300 children and families in crisis every year.
As part of Inperium's network, CHOR has folded in partners including Community Prevention Partnership, Reading Specialists Educational Association, Safeguards Foster Care, and Edison Court, creating a wider continuum of service offerings for children and families.
The Children’s Home of Reading (CHOR) is a multi-faceted social service nonprofit offering specialized residential, educational, and community-based programs to help at-risk children and their families. The Children’s Home of Reading offers over 40 different programs & services that meet the unique needs of over 3,300 children and families in crisis every year.
As part of Inperium's network, CHOR has folded in partners including Community Prevention Partnership, Reading Specialists Educational Association, Safeguards Foster Care, and Edison Court, creating a wider continuum of service offerings for children and families.
Year Founded
Inperium Partner Since
Location
1010 Centre Avenue
Reading, PA 19601
United States
Contact
Why an Inperium partnership
How Inperium helped
Process and steps
1
Inperium immediately identifies $400k in insurance savings for the organization.
2
As soon as the organization becomes an Inperium partner, Inperium loans $450k to stabilize the team further and help them make payroll.
3
Inperium connects The Children’s Home of Reading with other children and family services organizations in the network that can provide further resources and valuable guidance.
4
The Children’s Home of Reading has a network of partners to help them meet financial needs and ongoing facilities challenges and shift away from their reliance on philanthropy.
Results
After partnering with Inperium, The Children’s Home of Reading has seen an increase in revenue and net assets year over year. With Inperium, they now have a dedicated team for assessing the viability of programs and rate assessments. They’ve increased their rates, positively reassessed their assets, and refinanced $2M in debt, lowering their interest rate from 6% to 2.14%. They’ve also decreased the cost of management and general services so they can allocate more resources to directly furthering their mission.
Prior to affiliation, CHOR operated with a nearly $1 million annual deficit. As of the closing of fiscal year 2024, the organization reached a net income of about $3.6 million, the best in its over 140-year history.
