Literacy Volunteers Of Somerset County Inc

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Literacy Volunteers Of Somerset County Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Literacy Volunteers Of Somerset County Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Literacy Volunteers Of Somerset County Inc in one place.

Is Literacy Volunteers Of Somerset County Inc Legit?

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Literacy Volunteers Of Somerset County Inc directs 81% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Literacy Volunteers Of Somerset County Inc

Literacy Volunteers Of Somerset County Inc (EIN: 222999900) is a nonprofit organization based in Bridgewater, NJ, classified under NTEE code P60. The organization reported total revenue of $484K and total assets of $491K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Literacy Volunteers Of Somerset County Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Literacy Volunteers Of Somerset County Inc is a small nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.9%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Literacy Volunteers Of Somerset County Inc reported a surplus of $41K with revenue exceeding expenses, holds 15.0 months of operating reserves (strong position).

Financial Trends

Over 13 years of filings (2011–2023), Literacy Volunteers Of Somerset County Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.9%.

IRS Tax-Exempt Classification

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 Somerset County 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: 81%
• fundraising: 9%

According to IRS 990 filings, Literacy Volunteers Of Somerset County Inc allocates its expenses as follows: admin: 10%, programs: 81%, fundraising: 9%. With 81% directed toward programs, this reflects a strong commitment to its charitable mission.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $41K, with revenue exceeding expenses.

Executive Compensation Analysis

Executive compensation is reported as $0 across all available filings, suggesting a fully volunteer-run leadership, which is a positive indicator for donor funds directly supporting programs.

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.

Red Flags

The following concerns were identified during AI analysis of Literacy Volunteers Of Somerset County Inc's IRS 990 filings:

• Revenue growth has been inconsistent, with fluctuations year-over-year (e.g., $198,114 in 2021 to $163,979 in 2022, then up to $218,771 in 2023).

Strengths

The following positive indicators were identified for Literacy Volunteers Of Somerset County Inc:

• Consistently high percentage of expenses dedicated to programs (e.g., 81% in 2023, 80% in 2022, 80% in 2021).
• Zero reported executive compensation, maximizing funds for mission-related activities.
• Healthy asset growth over the past several years, indicating financial stability.

Frequently Asked Questions about Literacy Volunteers Of Somerset County Inc

Filing History

IRS 990 filing history for Literacy Volunteers Of Somerset County Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Literacy Volunteers Of Somerset County Inc's revenue has grown by 179.1%, moving from $78K to $219K. Total assets increased by 131.9% over the same period, from $96K to $223K. Total functional expenses rose by 27.4%, from $140K to $178K. In its most recent filing year (2023), Literacy Volunteers Of Somerset County Inc reported a surplus of $41K, with revenue exceeding expenses.

Year-by-Year Financial Summary

• 2023: Revenue of $219K, expenses of $178K, and assets of $223K (revenue +33.4% year-over-year).
• 2022: Revenue of $164K, expenses of $159K, and assets of $211K (revenue -17.2% year-over-year).
• 2021: Revenue of $198K, expenses of $145K, and assets of $199K (revenue +57.2% year-over-year).
• 2020: Revenue of $126K, expenses of $142K, and assets of $156K (revenue -24.8% year-over-year).
• 2019: Revenue of $168K, expenses of $135K, and assets of $151K (revenue +1.5% year-over-year).
• 2018: Revenue of $165K, expenses of $123K, and assets of $116K (revenue +32.3% year-over-year).
• 2017: Revenue of $125K, expenses of $124K, and assets of $75K (revenue +26.5% year-over-year).
• 2016: Revenue of $99K, expenses of $125K, and assets of $73K (revenue -8.8% year-over-year).
• 2015: Revenue of $108K, expenses of $130K, and assets of $103K (revenue +18.2% year-over-year).
• 2014: Revenue of $92K, expenses of $122K, and assets of $123K (revenue +30.4% year-over-year).
• 2013: Revenue of $70K, expenses of $128K, and assets of $153K (revenue -74.9% year-over-year).
• 2012: Revenue of $280K, expenses of $165K, and assets of $211K (revenue +256.8% year-over-year).
• 2011: Revenue of $78K, expenses of $140K, and assets of $96K.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Literacy Volunteers Of Somerset County Inc:

Data Sources and Methodology

This transparency report for Literacy Volunteers Of Somerset County 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.