Literacy Lab

Analysis

Literacy Lab is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 2010, 16 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 July 2023, Literacy Lab reported income of $16.5m and spending of $19.7m, spending 119% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $11.4m to $16.5m (+44%), an average of +9.6% a year. The sharpest change came in the year to July 2022, when income rose by 112%. 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 Lab sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 92nd percentile within DC. Charities of a similar size with the same main cause include Salt Lake Community College Foundation ($16.5m), Partnership for Los Angeles Schools ($16.5m) and Student Alternatives Program Incorporated ($16.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 83% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $816k (4.1% of expenses). Other salaries and wages came to $12.9m. At year end it held assets of $21.8m against liabilities of $2.2m, net assets of $19.6m. It reported 702 employees.