Literations Corp
- Assets
- $1.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 56
- Location
- Boston, MA
- Founding
- 06/1994
- Data as of
- 06/2023
- EIN
- 04-3227007
Organization Overview
Literations Corp is located in Boston, MA. The organization was established in 1994. According to its NTEE Classification (O20) the organization is classified as: Youth Centers & Clubs, under the broad grouping of Youth Development and related organizations. As of 06/2023, Literations Corp employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Literations Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Literations Corp generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
LITERATIONS DRIVES EDUCATIONAL EQUITY THROUGH EXPERIENCED COMMUNITY VOLUNTEERS EMPOWERING YOUNG READERS FOR LIFELONG LEARNING. LITERATIONS ENVISIONS A DAY WHEN ALL STUDENTS, REGARDLESS OF ZIP CODE, ENTER THE FIFTH GRADE AS PROFICIENT READERS POISED FOR ACADEMIC SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LITERACY PROGRAM: LITERATIONS COLLABORATES WITH TEACHERS, SCHOOLS, PARTNERS, AND DISTRICTS TO PROVIDE TARGETED SUPPORT TO YOUNG STUDENTS (1ST - 4TH GRADE) WHO CAN BENEFIT FROM 1:1 STRUCTURED READING PRACTICE. ADULT TRAINED VOLUNTEERS ARE MATCHED WITH STUDENTS FOR TWICE WEEKLY SESSIONS THROUGHOUT THE SCHOOL YEAR TO READ AND PRACTICE UNDER THE SUPERVISION OF A CARING COACH AND MENTOR.THE ACTIVE AGING PROGRAM: THE ACTIVE AGING PROGRAM PROVIDES AARP EXPERIENCE CORPS VOLUNTEERS WITH MEANINGFUL ACTIVITIES, BEYOND THEIR WORK WITH STUDENTS, TO ENHANCE THEIR PHYSICAL, MENTAL AND SOCIAL WELL-BEING AND CONNECT THEM TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Finnegan President/board Chair | OfficerTrustee | 2 | $0 |
Megan Mcbryde Director | Trustee | 0.5 | $0 |
George Blount Director | Trustee | 0.5 | $0 |
Amy Danforth Board Vice Chair | OfficerTrustee | 2 | $0 |
Wai-Chi Mok Director | Trustee | 0.5 | $0 |
Barbara Mcmahon Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $101,560 |
| Related organizations | $0 |
| Government grants | $241,758 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,101,012 |
| Noncash contributions included in lines 1a–1f | $5,158 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,444,330 |
| Total Program Service Revenue | $216,375 |
| Investment income | $3,322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $41,625 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,705,652 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $163,594 |
| Compensation of current officers, directors, key employees. | $21,268 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $685,939 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,512 |
| Payroll taxes | $73,789 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,625 |
| Advertising and promotion | $2,915 |
| Office expenses | $36,285 |
| Information technology | $15,368 |
| Royalties | $0 |
| Occupancy | $42,038 |
| Travel | $12,126 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,491 |
| All other expenses | $8,226 |
| Total functional expenses | $1,345,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $412,653 |
| Savings and temporary cash investments | $226,432 |
| Pledges and grants receivable | $160,398 |
| Accounts receivable, net | $157,961 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,514 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $76,787 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,720 |
| Total assets | $1,091,465 |
| Accounts payable and accrued expenses | $66,603 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,220 |
| Total liabilities | $112,823 |
| Net assets without donor restrictions | $625,642 |
| Net assets with donor restrictions | $353,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,091,465 |