Virginia Literacy Foundation is located in Richmond, VA. The organization was established in 1991. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Literacy Foundation 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 06/2023, Virginia Literacy Foundation generated $636.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $572.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Virginia Literacy Foundation has awarded 101 individual grants totaling $733,136. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE LITERACY AMOUNG VIRGINIA RESIDENTS BY SUPPORTING PUBLIC LITERACY PROGRAMS, ENHANCING, PRIVATE SECTOR LITERACY INITIATIVES; AND ENCOURAGING STATEWIDE LITERACY AWARENESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE LITERACY AMOUNG VIRGINIA RESIDENTS BY SUPPORTING PUBLIC LTERACY PROGRAMS, ENHANCING PRIVATE SECTOR LITERACY INITIATIVES AND ENCOURAGIN STATEWIDE LITERACY AWARENESS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jeannie Baliles Chairperson | OfficerTrustee | 2 | $0 |
Ruth Hazel Little Vice Chairperson | OfficerTrustee | 2 | $0 |
Troilen Gainey Seward Treasurer | OfficerTrustee | 2 | $0 |
Jeffrey Holland Board Member | Trustee | 2 | $0 |
Marcy Sims Board Member | Trustee | 2 | $0 |
Heidi Silver-Parcuilla Board Member | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $200,000 |
All other contributions, gifts, grants, and similar amounts not included above | $435,331 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $635,331 |
Total Program Service Revenue | $0 |
Investment income | $199 |
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 | $636,344 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $130,011 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $187,270 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $34,079 |
Payroll taxes | $14,326 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $5,735 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $1,985 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $6,282 |
Travel | $0 |
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 | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $572,014 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $860,726 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $1,206 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $861,932 |
Accounts payable and accrued expenses | $17,507 |
Grants payable | $0 |
Deferred revenue | $115,000 |
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 | $132,507 |
Net assets without donor restrictions | $721,522 |
Net assets with donor restrictions | $7,903 |
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 | $861,932 |
Over the last fiscal year, Virginia Literacy Foundation has awarded $95,000 in support to 11 organizations.
Grant Recipient | Amount |
---|---|
BEACON FOR ADULT LITERACY PURPOSE: LITERACY EFFORTS | $10,000 |
LITERACY COUNCIL OF NORTHERN VIRGINIA PURPOSE: LITERACY EFFORTSLITERACY EFFORTSLITERACY EFFORTSLITERACY EFFORTS | $10,000 |
SKYLINE LITERACY INC PURPOSE: LITERACY EFFORTSLITERACY EFFORTS | $10,000 |
LITERACY VOLUNTEERS OF CHARLOTTESVILLEALBEMARLE PURPOSE: LITERACY EFFORTS | $10,000 |
LOUDOUN LITERACY COUNCIL PURPOSE: LITERACY EFFORTS | $7,500 |
CATHOLIC CHARITIES OF THE DIOCESE OF ARLINGTON PURPOSE: LITERACY EFFORTSLITERACY EFFORTS | $7,500 |