Childrens Literacy Initiative

Analysis

Childrens Literacy Initiative is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in September 1988, 38 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, Childrens Literacy Initiative reported income of $12.1m and spending of $13.8m, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $30.2m to $12.1m (-60%), an average of -26% a year. The sharpest change came in the year to June 2023, when income dropped by 48%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Childrens Literacy Initiative sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within PA. Charities of a similar size with the same main cause include The Delta Academy ($12.1m), Legacy Traditional School - Gilbert ($12.1m) and Academy of Accelerated Learning Inc ($12.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 60% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $737k (5.4% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $11.7m against liabilities of $3.5m, net assets of $8.2m. It reported 194 employees.