Friends Of Literacy Inc
- Assets
- $221.6k
- Revenue
- $293.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Knoxville, TN
- Founding
- 05/1992
- Data as of
- 12/2023
- EIN
- 58-1984690
Organization Overview
Friends Of Literacy Inc is located in Knoxville, TN. The organization was established in 1992. 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 12/2023, Friends Of Literacy Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Literacy Inc 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 12/2023, Friends Of Literacy Inc generated $293.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $264.1k during the year ending 12/2023. 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
FRIENDS OF LITERACY INC IS A NOT FOR PROFIT ORGANIZATION THAT HELPS LOW INCOME ADULTS, CHILDREN AND FAMILIES IN EAST TENNESSEE IMPROVE THEIR LITERACY SKILLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY AND ADULT LITERACY EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Mosteit President | OfficerTrustee | 5 | $0 |
Susy Gray Secretary | OfficerTrustee | 5 | $0 |
Laura Zannucci Treasurer | OfficerTrustee | 5 | $0 |
Jill Carroll Boardmember | Trustee | 5 | $0 |
Carter Hall Boardmember | Trustee | 5 | $0 |
Tunisia Holley Boardmember | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $89,062 |
| Membership dues | $0 |
| Fundraising events | $7,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $179,988 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,050 |
| Total Program Service Revenue | $0 |
| Investment income | $2,445 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,906 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $293,401 |
| 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. | $56,801 |
| Compensation of current officers, directors, key employees. | $6,816 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $95,659 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,115 |
| Payroll taxes | $11,634 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,500 |
| 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 | $3,838 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,803 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $387 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $333 |
| Insurance | $3,378 |
| All other expenses | $0 |
| Total functional expenses | $264,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,917 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $9,430 |
| 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 | $500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $102,852 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,874 |
| Total assets | $221,573 |
| Accounts payable and accrued expenses | $14,726 |
| Grants payable | $0 |
| Deferred revenue | $3,200 |
| 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 | $19,874 |
| Total liabilities | $37,800 |
| Net assets without donor restrictions | $141,968 |
| Net assets with donor restrictions | $41,805 |
| 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 | $221,573 |