Literacy First Charter Schools

Analysis

Literacy First Charter Schools is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in April 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Literacy First Charter Schools reported income of $27.5m and spending of $26.4m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $17.5m to $27.5m (+58%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 33%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Literacy First Charter Schools sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Town School for Boys ($27.5m), Sonoma Academy ($27.6m) and Partnerships to Uplift Communities Lake View Terrace ($27.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 109% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $372k (1.4% of expenses). Other salaries and wages came to $13.3m. At year end it held assets of $38.4m against liabilities of $19.1m, net assets of $19.3m. It reported 315 employees.