The Literacy Council of Sarasota Inc

Analysis

The Literacy Council of Sarasota Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in May 1988, 38 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, The Literacy Council of Sarasota Inc reported income of $394k and spending of $382k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $248k to $394k (+59%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Literacy Council of Sarasota Inc sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 69th percentile within FL. Charities of a similar size with the same main cause include A Growing Culture Inc ($394k), Harvard Yearbook Publications Incorporated ($394k) and 4-H Clubs & Affiliated 4-H Organizations ($394k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $75k (20% of expenses). Other salaries and wages came to $126k. At year end it held assets of $133k against liabilities of $4,518, net assets of $128k. It reported 3 employees.