Champions for Literacy

Analysis

Champions for Literacy is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in August 2014, 12 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, Champions for Literacy reported income of $1.5m and spending of $1.4m, spending 94% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $732k to $1.5m (+102%), an average of +19% a year. The sharpest change came in the year to July 2023, when income rose by 68%. 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, Champions for Literacy sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within TN. Charities of a similar size with the same main cause include Austin Explore Inc ($1.5m), Garden State Equality Education Fund Inc ($1.5m) and Three Rivers Charter School ($1.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $174k (13% of expenses). Other salaries and wages came to $95k. At year end it held assets of $273k against liabilities of $80k, net assets of $193k. It reported 7 employees.