Literacy Lab
- Assets
- $21.8m
- Revenue
- $16.5m
- Investments
- $0.0
- Employees
- 702
- Location
- Washington, DC
- Founding
- 05/2010
- Data as of
- 07/2023
- EIN
- 27-1777117
Organization Overview
Literacy Lab is located in Washington, DC. The organization was established in 2010. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 07/2023, Literacy Lab employed 702 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Literacy Lab 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 07/2023, Literacy Lab generated $16.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.3% each year . All expenses for the organization totaled $19.7m during the year ending 07/2023. While expenses have increased by 28.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE LITERACY LAB PROVIDES EVIDENCE-BASED, CULTURALLY RESPONSIVE LITERACY INSTRUCTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LITERACY LAB SERVES CHILDREN FROM AGE THREE THROUGH GRADE THREE. WE PARTNER WITH SCHOOL DISTRICTS TO HELP CLOSE THE LITERACY GAP LARGELY BY EMBEDDING FULL-TIME, RIGOROUSLY-TRAINED TUTORS IN EARLY CHILDHOOD CENTERS AND ELEMENTARY SCHOOLS. THE LITERACY LAB OFFERS PROGRAM SERVICES WHICH INCLUDE: SCHOOL DAY LITERACY INTERVENTION AND THE LEADING MEN FELLOWSHIP. THE ORGANIZATION SERVES CHILDREN IN ATLANTA, GA; BALTIMORE, MD; CINCINNATI, OH; KANSAS CITY, MISSOURI; WASHINGTON, DC; PHOENIX, AZ; SPRINGFILED, MA; AND VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Praveen Jeyarajah Chair, Board Of Directors | OfficerTrustee | 4 | $0 |
Hugh Cole Treasurer, Board Of Directors | OfficerTrustee | 4 | $0 |
Betsy Duff Secretary, Board Of Directors | OfficerTrustee | 4 | $0 |
Bailey Edelson Member | Trustee | 1 | $0 |
Ned Mandel Member | Trustee | 1 | $0 |
Bweikia Steen Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emory Conference Center Hotel Conference | 7/30/23 | $197,682 |
Elevate Grants | 7/30/23 | $100,740 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,565,987 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,085,706 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,651,693 |
| Total Program Service Revenue | $2,705,623 |
| Investment income | $143,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,501,198 |
| 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. | $815,823 |
| Compensation of current officers, directors, key employees. | $31,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,875,582 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,078,104 |
| Payroll taxes | $1,190,955 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $131,351 |
| Fees for services: Lobbying | $358,108 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $530,746 |
| Advertising and promotion | $36,152 |
| Office expenses | $328,069 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $406,945 |
| Travel | $264,222 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,451 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,689 |
| Insurance | $64,514 |
| All other expenses | $59,994 |
| Total functional expenses | $19,665,413 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,512,959 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,867,432 |
| Accounts receivable, net | $440,673 |
| 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 | $436,365 |
| Net Land, buildings, and equipment | $47,349 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,518,672 |
| Total assets | $21,823,450 |
| Accounts payable and accrued expenses | $688,986 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,557,593 |
| Total liabilities | $2,246,579 |
| Net assets without donor restrictions | $16,413,121 |
| Net assets with donor restrictions | $3,163,750 |
| 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 | $21,823,450 |