Literacy Volunteers of Illinois Inc

Analysis

Literacy Volunteers of Illinois Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 1983, 43 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Literacy Volunteers of Illinois Inc reported income of $701k and spending of $735k, spending 105% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $959k to $701k (-27%), an average of -7.5% a year. The sharpest change came in the year to June 2022, when income dropped by 49%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Literacy Volunteers of Illinois Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within IL. Charities of a similar size with the same main cause include Big Brothers Big Sisters Southern Lake Michingan Region Inc ($701k), Little League Baseball Inc ($701k) and National Church Residences of ($701k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 78% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $71k (9.7% of expenses). Other salaries and wages came to $439k. At year end it held assets of $434k against liabilities of $3,369, net assets of $431k. It reported 42 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.