Carnegie Literacy Center Inc

Analysis

Carnegie Literacy Center Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in November 1990, 36 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 2023, Carnegie Literacy Center Inc reported income of $995k and spending of $1.3m, spending 134% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $955k to $995k (+4.2%), an average of +1.4% a year. The sharpest change came in the year to June 2021, when income rose by 35%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carnegie Literacy Center Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within KY. Charities of a similar size with the same main cause include Boone Beginnings Early Childhood and Family Development Center Inc ($994k), LA Salle Educational Center Homestead Inc ($995k) and Troy Center ($994k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $90k (6.7% of expenses). Other salaries and wages came to $542k. At year end it held assets of $766k against liabilities of $76k, net assets of $690k. It reported 21 employees.