Literacy Volunteers of the New River Valley

Analysis

Literacy Volunteers of the New River Valley is a registered charity in United States, based in Christiansbrg, VA. It received its IRS tax-exemption ruling in November 1973, 53 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 Volunteers of the New River Valley reported income of $240k and spending of $246k, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $131k to $240k (+83%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 34%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Literacy Volunteers of the New River Valley sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within VA. Charities of a similar size with the same main cause include Lebanon Food Pantry Inc ($240k), Rivkah Laufer Bikur Cholim ($240k) and Chester County Suicide Prevention ($240k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $52k (21% of expenses). Other salaries and wages came to $116k. At year end it held assets of $165k against liabilities of $3,028, net assets of $162k. It reported 6 employees.