Literacy Volunteers of Bangor

Analysis

Literacy Volunteers of Bangor is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in August 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 June 2024, Literacy Volunteers of Bangor reported income of $280k and spending of $193k, leaving 31% of income unspent that year. Across the 4 years on record, from June 2020 to June 2024, income grew from $224k to $280k (+25%), an average of +7.8% a year. The sharpest change came in the year to June 2024, when income rose by 42%. Over the whole period it spent 75% 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 Bangor sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 55th percentile within ME. Charities of a similar size with the same main cause include Virginia School Consortium for Learning ($280k), Omaha Homeschool Learning Center ($280k) and Association of Accredited Naturopathic Medical Colleges ($280k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $51k (26% of expenses). Other salaries and wages came to $66k. At year end it held assets of $540k against liabilities of $260, net assets of $540k. It reported 3 employees.