Triangle Literacy Council Inc

Analysis

Triangle Literacy Council Inc is a registered charity in United States, based in Cary, NC. It received its IRS tax-exemption ruling in April 1971, 55 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, Triangle Literacy Council Inc reported income of $672k and spending of $672k, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.8m to $672k (-64%), an average of -22% a year. The sharpest change came in the year to June 2021, when income rose by 89%. Over the whole period it spent 109% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Triangle Literacy Council Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Discovery Developmental Center Inc ($672k), Compassionate Animal Rescue Efforts of Dutchess County Inc ($672k) and United Way of Moore County Inc ($672k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $184k (27% of expenses). Other salaries and wages came to $217k. At year end it held assets of $396k against liabilities of $148k, net assets of $248k. It reported 13 employees.