Literacy Volunteers of Somerset County Inc

Analysis

Literacy Volunteers of Somerset County Inc is a registered charity in United States, based in Bridgewater, NJ. It received its IRS tax-exemption ruling in December 2003, 23 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, Literacy Volunteers of Somerset County Inc reported income of $219k and spending of $178k, spending 81% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $198k to $219k (+10%), an average of +5.1% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Literacy Volunteers of Somerset County Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 63rd percentile within NJ. Charities of a similar size with the same main cause include Camp Patriot Corp ($219k), Caring and Sharing Thrift Shop NFP ($219k) and Forest and Found ($219k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $80k (45% of expenses). Other salaries and wages came to $46k. At year end it held assets of $223k against liabilities of $0, net assets of $223k. It reported 4 employees.