Childrens Literacy Center Inc
- Assets
- $1.4m
- Revenue
- $943.2k
- Investments
- $0.0
- Employees
- 29
- Location
- Colorado Springs, CO
- Founding
- 10/1992
- Data as of
- 05/2024
- EIN
- 84-1209272
Organization Overview
Childrens Literacy Center Inc is located in Colorado Springs, CO. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 05/2024, Childrens Literacy Center Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Literacy Center 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 05/2024, Childrens Literacy Center Inc generated $943.2k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $1.1m during the year ending 05/2024. While expenses have increased by 12.3% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING A LIFE OF SUCCESS THROUGH A FOUNDATION OF LITERACY...ONE CHILD AT A TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FREE READING INTERVENTION AND INSTRUCTION TO ELIGIBLE CHILDREN FOR THE YEAR ENDED MAY 31, 2024, TUTORS PROVIDED 4,326 HOURS OF SERVICES WITH AN ESTIMATED VALUE OF $562,719.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Groninger President | OfficerTrustee | 1 | $0 |
Peggy Carmack Vice President | OfficerTrustee | 1 | $0 |
Pam Feilmeier Treasurer | OfficerTrustee | 1 | $0 |
Jackie Gonzalez Secretary | OfficerTrustee | 1 | $0 |
Andrea Baldrica Director | Trustee | 1 | $0 |
Avery Norwood Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $314,196 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $507,352 |
| Noncash contributions included in lines 1a–1f | $19,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $821,548 |
| Total Program Service Revenue | $74,200 |
| Investment income | $36,625 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,807 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $943,180 |
| 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. | $132,974 |
| Compensation of current officers, directors, key employees. | $66,487 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $449,110 |
| Pension plan accruals and contributions | $3,623 |
| Other employee benefits | $40,577 |
| Payroll taxes | $47,038 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,275 |
| Fees for services: Accounting | $14,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,072 |
| Fees for services: Other | $235,337 |
| Advertising and promotion | $42,494 |
| Office expenses | $31,689 |
| Information technology | $36,020 |
| Royalties | $0 |
| Occupancy | $38,266 |
| Travel | $2,124 |
| 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 | $13,684 |
| Insurance | $18,762 |
| All other expenses | $24,656 |
| Total functional expenses | $1,135,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,388 |
| Savings and temporary cash investments | $324,851 |
| Pledges and grants receivable | $190,002 |
| Accounts receivable, net | $30,739 |
| 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 | $11,810 |
| Net Land, buildings, and equipment | $223,519 |
| Investments—publicly traded securities | $495,273 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $100,000 |
| Other assets | $0 |
| Total assets | $1,446,582 |
| Accounts payable and accrued expenses | $78,372 |
| Grants payable | $0 |
| Deferred revenue | $7,000 |
| 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 | $85,372 |
| Net assets without donor restrictions | $1,171,208 |
| Net assets with donor restrictions | $190,002 |
| 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 | $1,446,582 |