Frankford Valley Foundation for Literacy

Analysis

Frankford Valley Foundation for Literacy is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in June 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Frankford Valley Foundation for Literacy reported income of $3.8m and spending of $3.9m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.7m to $3.8m (+2.0%), an average of +0.5% a year. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Frankford Valley Foundation for Literacy sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within PA. Charities of a similar size with the same main cause include Caucus Educational Corporation Inc ($3.8m), Future Generations University Corporation ($3.8m) and University of DC Foundation ($3.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $35.5m against liabilities of $36.6m, net assets of -$1.0m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.