Literacy Assistance Center

Analysis

Literacy Assistance Center is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 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, Literacy Assistance Center reported income of $2.6m and spending of $2.6m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $2.6m (+24%), an average of +5.4% a year. The sharpest change came in the year to June 2021, when income rose by 15%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy Assistance Center sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Alpha Epsilon Pi Foundation Inc ($2.6m), Wyncote Academy ($2.6m) and Community School Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $144k (5.6% of expenses). Other salaries and wages came to $1.3m. It paid $25k in professional fundraising fees. At year end it held assets of $1.9m against liabilities of $361k, net assets of $1.5m. It reported 19 employees.