Literacy New Jersey Inc

Analysis

Literacy New Jersey Inc is a registered charity in United States, based in Edison, NJ. It received its IRS tax-exemption ruling in December 2003, 23 years ago. 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 New Jersey Inc reported income of $1.7m and spending of $1.7m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $876k to $1.7m (+92%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 38%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Literacy New Jersey Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within NJ. Charities of a similar size with the same main cause include Concept School ($1.7m), Temple Beth Am Endowment Fund Inc ($1.7m) and Arc of Cass County ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $206k (12% of expenses). Other salaries and wages came to $981k. At year end it held assets of $1.1m against liabilities of $590k, net assets of $504k. It reported 35 employees.