Literacy Volunteers of Kennebec

Analysis

Literacy Volunteers of Kennebec is a registered charity in United States, based in Augusta, ME. It received its IRS tax-exemption ruling in March 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 Kennebec reported income of $83k and spending of $85k, spending 103% of its income. Across the 3 years on record, from June 2021 to December 2023, income fell from $121k to $83k (-31%), an average of -17% a year. The sharpest change came in the year to December 2022, when income dropped by 38%. Over the whole period it spent 98% 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 Kennebec sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 25th percentile within ME. Charities of a similar size with the same main cause include Atlanta Isd Education Foundation Inc ($83k), Freeport Educational Foundation Inc ($83k) and Vista Academy Foundation ($83k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $145k against liabilities of $0, net assets of $145k.