Literacy Together

Analysis

Literacy Together is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in October 1993, 33 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Literacy Together reported income of $548k and spending of $508k, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $369k to $548k (+48%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 21%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Literacy Together sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within NC. Charities of a similar size with the same main cause include Fergus Falls Hockey Association ($547k), Carmel Volunteer Ambulance Corporation ($548k) and St Peters Lutheran Church Foundation ($547k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $42k (8.4% of expenses). Other salaries and wages came to $282k. At year end it held assets of $302k against liabilities of $48k, net assets of $255k. It reported 36 employees.