Literacy Trust Inc
EIN: 593551080 · Nutley, NJ · NTEE: B116
Is Literacy Trust Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Literacy Trust Inc
Literacy Trust Inc (EIN: 593551080) is a nonprofit organization based in Nutley, NJ, classified under NTEE code B116. The organization reported total revenue of $923K and total assets of $531K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Literacy Trust Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Analysis Pending
AI enrichment for Literacy Trust Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Literacy Trust Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Frequently Asked Questions about Literacy Trust Inc
Is Literacy Trust Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Literacy Trust Inc (EIN: 593551080) insufficient data. 0 red flags identified, 0 strengths noted.
How does Literacy Trust Inc spend its money?
Detailed spending breakdown data is not yet available for Literacy Trust Inc. Check back for updated IRS 990 analysis.
Are donations to Literacy Trust Inc tax-deductible?
Literacy Trust Inc is registered as a tax-exempt nonprofit (EIN: 593551080). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Literacy Trust Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Literacy Trust Inc's revenue has grown by 765.3%, moving from $183K to $1.6M. Total assets increased by 8712.4% over the same period, from $17K to $1.5M. Total functional expenses rose by 925.8%, from $198K to $2.0M. In its most recent filing year (2023), Literacy Trust Inc reported a deficit of $450K, with expenses exceeding revenue. The organization holds $100K in liabilities against $1.5M in assets (debt-to-asset ratio: 6.8%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.6M | $2.0M | $1.5M | $100K | — | View 990 |
| 2022 | $1.8M | $3.3M | $2.0M | $192K | — | View 990 |
| 2021 | $4.6M | $2.8M | $3.5M | $463K | — | View 990 |
| 2020 | $2.4M | $2.5M | $1.4M | $362K | — | View 990 |
| 2019 | $2.1M | $2.0M | $1.2M | $41K | — | View 990 |
| 2018 | $1.7M | $1.8M | $1.2M | $132K | — | View 990 |
| 2017 | $852K | $678K | $817K | $102K | — | View 990 |
| 2016 | $1.7M | $1.3M | $624K | $83K | — | View 990 |
| 2015 | $75K | $42K | $128K | $1K | — | View 990 |
| 2014 | $210K | $156K | $123K | $6K | — | View 990 |
| 2013 | $160K | $144K | $73K | $10K | — | View 990 |
| 2012 | $201K | $225K | $59K | $12K | — | View 990 |
| 2011 | $295K | $242K | $73K | $3K | — | View 990 |
| 2010 | $183K | $198K | $17K | $124 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.6M, expenses of $2.0M, and assets of $1.5M (revenue -11.3% year-over-year).
- 2022: Revenue of $1.8M, expenses of $3.3M, and assets of $2.0M (revenue -61.2% year-over-year).
- 2021: Revenue of $4.6M, expenses of $2.8M, and assets of $3.5M (revenue +88.2% year-over-year).
- 2020: Revenue of $2.4M, expenses of $2.5M, and assets of $1.4M (revenue +17.7% year-over-year).
- 2019: Revenue of $2.1M, expenses of $2.0M, and assets of $1.2M (revenue +21.0% year-over-year).
- 2018: Revenue of $1.7M, expenses of $1.8M, and assets of $1.2M (revenue +101.7% year-over-year).
- 2017: Revenue of $852K, expenses of $678K, and assets of $817K (revenue -49.3% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.3M, and assets of $624K (revenue +2131.8% year-over-year).
- 2015: Revenue of $75K, expenses of $42K, and assets of $128K (revenue -64.2% year-over-year).
- 2014: Revenue of $210K, expenses of $156K, and assets of $123K (revenue +31.3% year-over-year).
- 2013: Revenue of $160K, expenses of $144K, and assets of $73K (revenue -20.4% year-over-year).
- 2012: Revenue of $201K, expenses of $225K, and assets of $59K (revenue -32.0% year-over-year).
- 2011: Revenue of $295K, expenses of $242K, and assets of $73K (revenue +61.5% year-over-year).
- 2010: Revenue of $183K, expenses of $198K, and assets of $17K.
Data Sources and Methodology
This transparency report for Literacy Trust Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.