Literacy Volunteers Of Central Connecticut Inc
Literacy Volunteers of Central Connecticut: Strong Program Focus, Modest Growth
EIN: 222527030 · New Britain, CT · NTEE: B92 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $603K |
| Total Expenses | $327K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $14,443 |
| Net Assets | $248K |
| Transparency Score | 75/100 |
Is Literacy Volunteers Of Central Connecticut Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Literacy Volunteers Of Central Connecticut Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Literacy Volunteers Of Central Connecticut Inc
Literacy Volunteers Of Central Connecticut Inc (EIN: 222527030) is a nonprofit organization based in New Britain, CT, classified under NTEE code B92. The organization reported total revenue of $603K and total assets of $507K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Literacy Volunteers Of Central Connecticut Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Literacy Volunteers Of Central Connecticut Inc is a small nonprofit that has been operating for 22 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $360K |
| Total Expenses | $327K |
| Surplus / Deficit | +$33K |
| Total Assets | $263K |
| Total Liabilities | $14K |
| Net Assets | $248K |
| Operating Margin | 9.1% |
| Debt-to-Asset Ratio | 5.5% |
| Months of Reserves | 9.6 months |
Financial Health Grade: A
In 2024, Literacy Volunteers Of Central Connecticut Inc reported a surplus of $33K with revenue exceeding expenses, holds 9.6 months of operating reserves (strong position), has a debt-to-asset ratio of 5.5% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Literacy Volunteers Of Central Connecticut Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +8.3% | +5.0% | +17.2% |
| 2023 | +7.7% | +6.2% | +14.2% |
| 2022 | -14.4% | +5.7% | +2.5% |
| 2021 | +32.6% | +14.1% | +50.7% |
| 2020 | -8.3% | -12.6% | +28.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Literacy Volunteers Of Central Connecticut Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Literacy Volunteers Of Central Connecticut Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $33K, with revenue exceeding expenses.
- Debt-to-asset ratio: 5.5%.
Executive Compensation Analysis
Executive compensation appears reasonable, with the highest paid individual receiving $14,443 in 2024, which is appropriate for an organization of this size and revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Literacy Volunteers Of Central Connecticut Inc:
- Consistently high percentage of expenses dedicated to program services (e.g., 85% in 2024).
- Healthy and growing asset base, increasing from $60,360 in 2018 to $262,709 in 2024.
- Stable revenue streams over the past several years, demonstrating consistent donor support.
Frequently Asked Questions about Literacy Volunteers Of Central Connecticut Inc
Is Literacy Volunteers Of Central Connecticut Inc a legitimate charity?
Literacy Volunteers Of Central Connecticut Inc (EIN: 222527030) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $603K. No red flags identified. 3 strengths noted. Financial health grade: A.
How does Literacy Volunteers Of Central Connecticut Inc spend its money?
Literacy Volunteers Of Central Connecticut Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Literacy Volunteers Of Central Connecticut Inc tax-deductible?
Literacy Volunteers Of Central Connecticut Inc is registered as a tax-exempt nonprofit (EIN: 222527030). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Literacy Volunteers Of Central Connecticut Inc CEO make?
Literacy Volunteers Of Central Connecticut Inc's highest-compensated officer earns $14,443 annually. The organization reported $603K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Literacy Volunteers Of Central Connecticut Inc's spending goes to programs?
Literacy Volunteers Of Central Connecticut Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Literacy Volunteers Of Central Connecticut Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Literacy Volunteers Of Central Connecticut Inc is above average for NTEE category B92 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Literacy Volunteers Of Central Connecticut Inc located?
Literacy Volunteers Of Central Connecticut Inc is headquartered in New Britain, Connecticut and files with the IRS under EIN 222527030. It is classified under NTEE code B92.
How many years of IRS 990 filings does Literacy Volunteers Of Central Connecticut Inc have?
Literacy Volunteers Of Central Connecticut Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $603K in total revenue.
What does Literacy Volunteers Of Central Connecticut Inc do?
Literacy Volunteers Of Central Connecticut Inc is a nonprofit organization in the Education sector, located in New Britain, Connecticut. It is classified under NTEE code B92.
How much revenue does Literacy Volunteers Of Central Connecticut Inc have?
Literacy Volunteers Of Central Connecticut Inc reported total revenue of $603,210. Based on 14 IRS 990 filings on record.
What are Literacy Volunteers Of Central Connecticut Inc's total assets?
Literacy Volunteers Of Central Connecticut Inc holds total assets of $506,816 as reported in IRS 990 filings.
Where is Literacy Volunteers Of Central Connecticut Inc located?
Literacy Volunteers Of Central Connecticut Inc is based in New Britain, Connecticut.
What is Literacy Volunteers Of Central Connecticut Inc's EIN?
Literacy Volunteers Of Central Connecticut Inc's Employer Identification Number (EIN) is 222527030. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Literacy Volunteers Of Central Connecticut Inc?
Literacy Volunteers Of Central Connecticut Inc is classified under NTEE code B92 (Education).
Is Literacy Volunteers Of Central Connecticut Inc a registered 501(c)(3)?
Yes, Literacy Volunteers Of Central Connecticut Inc is recognized as a tax-exempt organization by the IRS. EIN: 222527030.
Does Literacy Volunteers Of Central Connecticut Inc file IRS Form 990?
Yes, Literacy Volunteers Of Central Connecticut Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Literacy Volunteers Of Central Connecticut Inc's revenue in 2024?
In the 202406 filing period, Literacy Volunteers Of Central Connecticut Inc reported total revenue of $359,595, total expenses of $326,902, and net assets of $262,709.
Is Literacy Volunteers Of Central Connecticut Inc's revenue growing or declining?
Literacy Volunteers Of Central Connecticut Inc's revenue is growing. Revenue went from $331,936 (202306) to $359,595 (202406), a +8.3% change. Based on 14 filings on record.
What is Literacy Volunteers Of Central Connecticut Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Literacy Volunteers Of Central Connecticut Inc covers tax period 202406. It shows revenue of $359,595, expenses of $326,902, total assets of $262,709, and liabilities of $14,443.
How much does Literacy Volunteers Of Central Connecticut Inc spend on programs vs administration?
Based on IRS 990 analysis, Literacy Volunteers Of Central Connecticut Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Literacy Volunteers Of Central Connecticut Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Literacy Volunteers Of Central Connecticut Inc appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 3 strengths noted.
What are Literacy Volunteers Of Central Connecticut Inc's strengths?
Positive indicators for Literacy Volunteers Of Central Connecticut Inc include: Consistently high percentage of expenses dedicated to program services (e.g., 85% in 2024).. Healthy and growing asset base, increasing from $60,360 in 2018 to $262,709 in 2024.. Stable revenue streams over the past several years, demonstrating consistent donor support.. These findings are derived from AI analysis of the organization's financial filings.
How does Literacy Volunteers Of Central Connecticut Inc compensate executives?
Executive compensation appears reasonable, with the highest paid individual receiving $14,443 in 2024, which is appropriate for an organization of this size and revenue. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How has the organization managed to significantly increase its assets while maintaining a high program spending ratio?
The organization has consistently operated with a surplus, as seen by revenues exceeding expenses in most years (e.g., $359,595 revenue vs. $326,902 expenses in 2024), allowing for asset accumulation without compromising program delivery.
What is the trend in the organization's liquidity, and does it indicate financial stability?
The organization's liquidity has steadily improved, with net assets growing from $60,360 in 2018 to $262,709 in 2024, indicating strong financial stability and capacity for future operations.
Filing History
IRS 990 filing history for Literacy Volunteers Of Central Connecticut Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Literacy Volunteers Of Central Connecticut Inc's revenue has grown by 9%, moving from $330K to $360K. Total assets increased by 111.3% over the same period, from $124K to $263K. Total functional expenses rose by 11.8%, from $292K to $327K. In its most recent filing year (2024), Literacy Volunteers Of Central Connecticut Inc reported a surplus of $33K, with revenue exceeding expenses. The organization holds $14K in liabilities against $263K in assets (debt-to-asset ratio: 5.5%), resulting in net assets of $248K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $360K | $327K | $263K | $14K | — | — |
| 2023 | $332K | $311K | $224K | $10K | — | View 990 |
| 2022 | $308K | $293K | $196K | $3K | — | View 990 |
| 2021 | $360K | $277K | $192K | $12K | — | View 990 |
| 2020 | $271K | $243K | $127K | $32K | — | View 990 |
| 2019 | $296K | $278K | $99K | $32K | — | View 990 |
| 2018 | $264K | $274K | $60K | $11K | — | View 990 |
| 2017 | $270K | $275K | $63K | $11K | — | View 990 |
| 2016 | $246K | $278K | $64K | $7K | — | View 990 |
| 2015 | $293K | $299K | $99K | $10K | — | View 990 |
| 2014 | $293K | $299K | $104K | $9K | — | View 990 |
| 2013 | $374K | $385K | $108K | $7K | — | View 990 |
| 2012 | $265K | $274K | $116K | $5K | — | View 990 |
| 2011 | $330K | $292K | $124K | $4K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $360K, expenses of $327K, and assets of $263K (revenue +8.3% year-over-year).
- 2023: Revenue of $332K, expenses of $311K, and assets of $224K (revenue +7.7% year-over-year).
- 2022: Revenue of $308K, expenses of $293K, and assets of $196K (revenue -14.4% year-over-year).
- 2021: Revenue of $360K, expenses of $277K, and assets of $192K (revenue +32.6% year-over-year).
- 2020: Revenue of $271K, expenses of $243K, and assets of $127K (revenue -8.3% year-over-year).
- 2019: Revenue of $296K, expenses of $278K, and assets of $99K (revenue +12.2% year-over-year).
- 2018: Revenue of $264K, expenses of $274K, and assets of $60K (revenue -2.4% year-over-year).
- 2017: Revenue of $270K, expenses of $275K, and assets of $63K (revenue +9.7% year-over-year).
- 2016: Revenue of $246K, expenses of $278K, and assets of $64K (revenue -16.1% year-over-year).
- 2015: Revenue of $293K, expenses of $299K, and assets of $99K (revenue +0.1% year-over-year).
- 2014: Revenue of $293K, expenses of $299K, and assets of $104K (revenue -21.6% year-over-year).
- 2013: Revenue of $374K, expenses of $385K, and assets of $108K (revenue +41.4% year-over-year).
- 2012: Revenue of $265K, expenses of $274K, and assets of $116K (revenue -19.8% year-over-year).
- 2011: Revenue of $330K, expenses of $292K, and assets of $124K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Literacy Volunteers Of Central Connecticut Inc:
Data Sources and Methodology
This transparency report for Literacy Volunteers Of Central Connecticut 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.