Literacy Partners Inc
- Assets
- $10.8m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 18
- Location
- New York, NY
- Founding
- 11/1973
- Data as of
- 06/2021
- EIN
- 51-0180665
Organization Overview
Literacy Partners Inc is located in New York, NY. The organization was established in 1973. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2021, Literacy Partners Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Literacy Partners Inc 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 06/2021, Literacy Partners Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $2.5m during the year ending 06/2021. While expenses have increased by 3.0% per year over the past 6 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
LITERACY PARTNERS STRENGTHENS FAMILIES THROUGH A TWO-GENERATION APPROACH TO EDUCATION. WITH OUR FREE CLASSES, LOW-INCOME PARENTS DEVELOP THE LITERACY AND LANGUAGE SKILLS THEY NEED TO SUCCEED IN TODAY'S WORLD. OUR CURRICULUM INCORPORATES CHILD DEVELOPMENT AND PARENTING SUPPORT TO HELP PARENTS BOOST THEIR CHILDREN'S EARLY READING, SCHOOL READINESS AND SOCIO-EMOTIONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADULT LITERACY SERVICES FOR PARENTS OF YOUNG CHILDREN, INCLUDING ENGLISH CLASSES, BASIC READING, AND COLLEGE TRANSITION CLASSES.
PARENT EDUCATION FOR SPANISH-SPEAKING PARENTS TO PROMOTE THEIR EARLY LEARNING, SOCIAL EMOTIONAL GROWTH, AND SCHOOL READINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Tassi Executive Director | Officer | 40 | $161,719 |
Jane Sung E Bai Chief Operating Officer | Officer | 40 | $124,148 |
Sally Printz Chief Development Officer | Officer | 40 | $97,727 |
Katharine Raymond Hinton Chair | OfficerTrustee | 2 | $0 |
Todd Larsen Treasurer | OfficerTrustee | 2 | $0 |
Lawrence A Jacobs Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $265,541 |
| Related organizations | $0 |
| Government grants | $263,617 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,790,654 |
| Noncash contributions included in lines 1a–1f | $101,361 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,319,812 |
| Total Program Service Revenue | $0 |
| Investment income | $199,298 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,394 |
| Net Gain/Loss on Asset Sales | $234,359 |
| Net Income from Fundraising Events | -$136,905 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,656,004 |
| 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. | $355,289 |
| Compensation of current officers, directors, key employees. | $79,731 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $878,766 |
| Pension plan accruals and contributions | $22,201 |
| Other employee benefits | $132,023 |
| Payroll taxes | $88,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,500 |
| Fees for services: Accounting | $23,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $75,000 |
| Fees for services: Investment Management | $55,765 |
| Fees for services: Other | $311,266 |
| Advertising and promotion | $0 |
| Office expenses | $75,958 |
| Information technology | $23,110 |
| Royalties | $0 |
| Occupancy | $243,489 |
| Travel | $889 |
| 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 | $46,561 |
| Insurance | $20,400 |
| All other expenses | $71,455 |
| Total functional expenses | $2,491,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $453,099 |
| Savings and temporary cash investments | $598,525 |
| Pledges and grants receivable | $312,000 |
| Accounts receivable, net | $7,252 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $148,641 |
| Prepaid expenses and deferred charges | $152,022 |
| Net Land, buildings, and equipment | $117,465 |
| Investments—publicly traded securities | $8,972,349 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $63,750 |
| Total assets | $10,825,103 |
| Accounts payable and accrued expenses | $42,384 |
| Grants payable | $0 |
| Deferred revenue | $830,968 |
| 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 | $110,673 |
| Total liabilities | $984,025 |
| Net assets without donor restrictions | $4,684,301 |
| Net assets with donor restrictions | $5,156,777 |
| 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 | $10,825,103 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Literacy Partners Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Crawford-Doyle Charitable Foundation New York, NY PURPOSE: ANY EXEMPT PURPOSE | $100 |
Endowment Analysis
| Beg. Balance | $4,354,774 |
| Earnings | $627,924 |
| Admin Expense | $438,003 |
| Ending Balance | $4,544,695 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellwether Education Partners Inc Sudbury, MA | $12,819,060 | $18,147,451 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
Local Union 164 Electrical Joint Apprenticeship And Training Trust Paramus, NJ | $19,017,559 | $4,299,279 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Vermont Adult Learning Inc Waitsfield, VT | $1,289,780 | $4,391,996 |
Connecticut Center For Arts & Technology Inc New Haven, CT | $3,075,426 | $11,576,748 |
Chronic Liver Disease Foundation Inc Clark, NJ | $1,027,147 | $3,658,520 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |