Marion County Literacy Council Inc

Analysis

Marion County Literacy Council Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in February 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Marion County Literacy Council Inc reported income of $293k and spending of $225k, leaving 23% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $179k to $293k (+64%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 73% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Marion County Literacy Council Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 64th percentile within FL. Charities of a similar size with the same main cause include Wood County District Public Library Foundation ($293k), Ulster Literacy Association Inc ($293k) and Mapping Your Future Inc ($293k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $60k (27% of expenses). Other salaries and wages came to $44k. At year end it held assets of $1.1m against liabilities of $500, net assets of $1.1m. It reported 3 employees.