Foundation For The Future Of Literature And Literacy
- Assets
- $421.8k
- Revenue
- $860.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Berkeley, CA
- Founding
- 02/2016
- Data as of
- 09/2021
- EIN
- 47-3955286
Organization Overview
Foundation For The Future Of Literature And Literacy is located in Berkeley, CA. The organization was established in 2016. According to its NTEE Classification (A70) the organization is classified as: Humanities, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Foundation For The Future Of Literature And Literacy employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Future Of Literature And Literacy 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 09/2021, Foundation For The Future Of Literature And Literacy generated $860.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $705.0k during the year ending 09/2021. While expenses have increased by 7.0% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PRODUCE FREE OR LOW-COST LITERACY PROGRAMMING FOR NORTHERN CALIFORNIA RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMMING WAS PRESENTED EXCLUSIVELY ONLINE IN FY 2020 -21 DUE TO COVID. WE WERE ABLE TO CONTINUE OUR PROGRAMMING AND REACH, AND IN MANY WAYS EVEN EXPANDED IN FY 2020-21. GOING VIRTUAL ALLOWED US TO EXTEND OR PROGRAMMING NATIONALLY AND GLOBALLY AS IT WAS PRESENTED ONLINE RATHER THAN IN-PERSON LIMITED TO A TWO-DAY WEEKEND. OUR IN-PERSON FESTIVAL ATTRACTED APPROXIMATELY 25,000 ATTENDEES GOING VIRTUAL ALLOWED US TO MAINTAIN, AND EVEN GROW THAT NUMBER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cherilyn Parsons Executive Dir. | Officer | 40 | $145,461 |
Brooke Warner President | OfficerTrustee | 0.5 | $0 |
George Rehm Director | Trustee | 0.5 | $0 |
Lise Quintana Director | Trustee | 0.5 | $0 |
Peter Richardson Director | Trustee | 0.5 | $0 |
Igor Zagatsky Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $249,839 |
| All other contributions, gifts, grants, and similar amounts not included above | $513,093 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $762,932 |
| Total Program Service Revenue | $97,397 |
| Investment income | $304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $860,633 |
| 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. | $144,538 |
| Compensation of current officers, directors, key employees. | $14,454 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $209,355 |
| Pension plan accruals and contributions | $4,050 |
| Other employee benefits | $16,575 |
| Payroll taxes | $26,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,530 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $166,366 |
| Advertising and promotion | $45,298 |
| Office expenses | $22,363 |
| Information technology | $4,858 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,646 |
| 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 | $2,396 |
| All other expenses | $0 |
| Total functional expenses | $705,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,217 |
| Savings and temporary cash investments | $335,299 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $25,899 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,340 |
| Total assets | $421,755 |
| Accounts payable and accrued expenses | $2,720 |
| 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 | $0 |
| Total liabilities | $2,720 |
| Net assets without donor restrictions | $419,035 |
| Net assets with donor restrictions | $0 |
| 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 | $421,755 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Foundation For The Future Of Literature And Literacy has recieved totaling $365,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $180,000 |
Stephen M Silberstein Foundation Belvedere, CA PURPOSE: PROMOTE LITERATURE AND LITERACY AMONG PEOPLE OF ALL AGES | $150,000 |
National Book Foundation Inc New York, NY PURPOSE: LITERARY ARTS EMERGENCY FUND GRANT | $25,000 |
California Humanities Oakland, CA PURPOSE: CORE PROGRAMS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Packard Humanities Institute Los Altos, CA | $863,900,364 | $102,577,308 |
Ayn Rand Institute The Center For The Advancement Of Objectivism Santa Ana, CA | $17,620,667 | $17,085,722 |
Claremont Inst For The Study Of Statesmanship & Polit Philosophy Upland, CA | $14,003,298 | $9,466,224 |
California Humanities Oakland, CA | $2,781,512 | $6,891,682 |
Aha Punana Leo Hilo, HI | $23,875,245 | $6,915,753 |
Partners Asia Oakland, CA | $6,552,828 | $5,792,880 |
Literary Arts Inc Portland, OR | $14,485,873 | $11,203,520 |
Library Foundation Inc Serving The People Of Multnomah County Portland, OR | $22,669,861 | $3,134,177 |
Get Lit Words Ignite Inc Los Angeles, CA | $1,330,397 | $2,322,954 |
Society For Creative Anachronism Inc San Jose, CA | $6,483,503 | $1,391,085 |
Asian Pacific Institute On Gender-Based Violence Oakland, CA | $515,688 | $1,708,443 |
Wang Mo-Jen & Wang Chou An-Yi World Chinese Literature Prize Foundati San Francisco, CA | $2,890,895 | $451,863 |