Literacy Volunteers of Morris County Inc

Analysis

Literacy Volunteers of Morris County Inc is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in September 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 December 2023, Literacy Volunteers of Morris County Inc reported income of $273k and spending of $240k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $222k to $273k (+23%), an average of +5.3% a year. The sharpest change came in the year to December 2020, when income rose by 25%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy Volunteers of Morris County Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 66th percentile within NJ. Charities of a similar size with the same main cause include Morgan State University Alumni Association Incorporated ($273k), Proverbs 226 ($273k) and Oswego Alumni Association Inc ($273k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $67k (28% of expenses). Other salaries and wages came to $74k. At year end it held assets of $414k against liabilities of $56k, net assets of $358k. It reported 5 employees.