Literacy Solutions Ny Inc

Analysis

Literacy Solutions Ny Inc is a registered charity in United States, based in Yonkers, NY. It received its IRS tax-exemption ruling in May 2004, 22 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 Solutions Ny Inc reported income of $991k and spending of $991k, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $754k to $991k (+31%), an average of +9.5% a year. The sharpest change came in the year to June 2021, when income rose by 31%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy Solutions Ny Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Unity Christian Academy of Haw Branch Inc ($991k), Millbrook Library ($992k) and Western Wyoming College Foundation ($991k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $112k (11% of expenses). Other salaries and wages came to $627k. At year end it held assets of $464k against liabilities of $146k, net assets of $318k. It reported 34 employees.