Literacy Network Inc

Analysis

Literacy Network Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in March 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Literacy Network Inc reported income of $1.8m and spending of $1.9m, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.8m (+47%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy Network Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within WI. Charities of a similar size with the same main cause include Tidewater Community College Real Estate Foundation Inc ($1.8m), Hometech Charter School Inc ($1.8m) and Victory Christian Academy ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $103k (5.6% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $3.9m against liabilities of $259k, net assets of $3.6m.