Literacy Partners Inc

Analysis

Literacy Partners Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1973, 53 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 2023, Literacy Partners Inc reported income of $3.0m and spending of $4.5m, spending 150% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $3.0m (+67%), an average of +14% a year. The sharpest change came in the year to June 2020, when income rose by 206%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy Partners Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Sunshine Elementary Charter School Inc ($3.0m), Liberty Christian School Inc ($3.0m) and Ridgeline Montessori Public Charter School ($3.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 102% of the total. Compensation of current officers, directors and key employees was $450k (10% of expenses). Other salaries and wages came to $2.0m. It paid $80k in professional fundraising fees. At year end it held assets of $9.4m against liabilities of $1.2m, net assets of $8.2m. It reported 30 employees.