The Literacy Project

Analysis

The Literacy Project is a registered charity in United States, based in Mount Rainier, MD. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Literacy Project reported income of $176k and spending of $260k, spending 148% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $339k to $176k (-48%), an average of -28% a year. The sharpest change came in the year to December 2022, when income dropped by 38%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Literacy Project sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 51st percentile within MD. Charities of a similar size with the same main cause include Women in Jazz Association ($176k), Coastal Islands Theater Inc ($176k) and Laguna Beach Live ($176k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $48k (18% of expenses). Other salaries and wages came to $27k. At year end it held assets of $166k against liabilities of $5,348, net assets of $161k. It reported 2 employees.