Literacy Volunteers of Massachusetts Inc

Analysis

Literacy Volunteers of Massachusetts Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2020, 6 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 Massachusetts Inc reported income of $544k and spending of $548k, spending 101% of its income. Across the 6 years on record, from June 2017 to June 2023, income grew from $363k to $544k (+50%), an average of +8.4% a year. The sharpest change came in the year to June 2019, when income rose by 43%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Literacy Volunteers of Massachusetts Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Maricopa Community Alliance Against Substance Abuse ($544k), Treasure Valley Childrens Relief Nursery ($544k) and Coastline Womens Center ($544k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $65k (12% of expenses). Other salaries and wages came to $53k. At year end it held assets of $42k against liabilities of $33k, net assets of $9,498. It reported 2 employees.