New Mexico Literacy Institute

Analysis

New Mexico Literacy Institute is a registered charity in United States, based in Santa Fe, NM. It received its IRS tax-exemption ruling in April 2022, 4 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, New Mexico Literacy Institute reported income of $346k and spending of $236k, leaving 32% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $219k to $346k (+58%), an average of +58% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Mexico Literacy Institute sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NM. Charities of a similar size with the same main cause include Calu Inc ($346k), Independence Pass Foundation ($346k) and Accident Volunteer Fire Department Incorporated ($346k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $166k against liabilities of $0, net assets of $166k.