Literacy Council of Kingsport Inc

Analysis

Literacy Council of Kingsport Inc is a registered charity in United States, based in Kingsport, TN. It received its IRS tax-exemption ruling in July 1987, 39 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 December 2023, Literacy Council of Kingsport Inc reported income of $68k and spending of $94k, spending 138% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $97k to $68k (-30%), an average of -30% a year. The sharpest change came in the year to December 2023, when income dropped by 30%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Literacy Council of Kingsport Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within TN. Charities of a similar size with the same main cause include Music From the Western Reserve ($68k), Reverend Robert J Loftus Endowment and Scholarship Fund ($68k) and United States Amateur Boxing Inc ($68k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $140k against liabilities of $34k, net assets of $106k.