Seeds of Literacy

Analysis

Seeds of Literacy is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in March 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Seeds of Literacy reported income of $1.7m and spending of $1.7m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.7m (+60%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 94% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Seeds of Literacy sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include Cardinal Ritter Institute Residential Services Corporation ($1.7m), National Bankers Community Alliance Inc ($1.7m) and Senior Citizens Service Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $133k (7.7% of expenses). Other salaries and wages came to $964k. At year end it held assets of $1.2m against liabilities of $79k, net assets of $1.1m. It reported 34 employees.