Literacy Center Inc

Analysis

Literacy Center Inc is a registered charity in United States, based in Attleboro, MA. It received its IRS tax-exemption ruling in November 1992, 34 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 Center Inc reported income of $518k and spending of $569k, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $645k to $518k (-20%), an average of -7.0% a year. The sharpest change came in the year to June 2023, when income dropped by 28%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy Center Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within MA. Charities of a similar size with the same main cause include Albany Medical College Alumni Association Inc ($518k), Grace Classical School Inc ($518k) and Coda Mountain Academy Inc ($518k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 5.2% of the total. Compensation of current officers, directors and key employees was $123k (22% of expenses). Other salaries and wages came to $259k. At year end it held assets of $1.5m against liabilities of $27k, net assets of $1.5m. It reported 23 employees.