Racine Literacy Council Inc

Analysis

Racine Literacy Council Inc is a registered charity in United States, based in Racine, WI. It received its IRS tax-exemption ruling in June 1976, 50 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 2023, Racine Literacy Council Inc reported income of $252k and spending of $280k, spending 111% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $220k to $252k (+15%), an average of +7.1% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Racine Literacy Council Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within WI. Charities of a similar size with the same main cause include Boro Pregnancy Counseling Center Inc ($252k), Christian Fellowship Inc ($252k) and Leadership Ashtabula County Inc ($252k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $144k. At year end it held assets of $328k against liabilities of $18k, net assets of $310k. It reported 13 employees.