First Literacy Inc

Analysis

First Literacy Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in March 1988, 38 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, First Literacy Inc reported income of $491k and spending of $753k, spending 153% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $655k to $491k (-25%), an average of -7.0% a year. The sharpest change came in the year to June 2021, when income rose by 43%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, First Literacy Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MA. Charities of a similar size with the same main cause include Las Semillitas School ($491k), Brazil in Flames Apostolic Mission Inc ($491k) and Jackson Mann Community School Council Inc ($491k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% of the total. Other salaries and wages came to $221k. At year end it held assets of $1.1m against liabilities of $145k, net assets of $984k. It reported 7 employees.