Friends Of Literacy Inc
- Assets
- $212.8k
- Revenue
- $263.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Knoxville, TN
- Founding
- 05/1992
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Friends Of Literacy Inc generated $263.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $216.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH-QUALITY LITERACY AND EDUCATION PROGRAMS TO ADULTS, CHILDREN, AND FAMILIES IN EAST TENNESSEE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY LITERACY
ADULT LITERACY AND EDUCATION
READING MENTORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Brittain Executive Di | Trustee | 47 | $57,500 |
Hannah Houser Secretary | OfficerTrustee | 2 | $0 |
Sherry Vermillion Treasurer | OfficerTrustee | 2 | $0 |
Elba Marshall President | OfficerTrustee | 5 | $0 |
Alan May Director | Trustee | 1 | $0 |
Karen Reynolds Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,318 |
| All other contributions, gifts, grants, and similar amounts not included above | $194,068 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $254,386 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $9,439 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $263,825 |
| 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. | $57,500 |
| Compensation of current officers, directors, key employees. | $2,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,194 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,978 |
| Payroll taxes | $10,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,000 |
| 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 | $8,675 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,000 |
| 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 | $2,561 |
| All other expenses | $44,064 |
| Total functional expenses | $216,168 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,290 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $44,176 |
| 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 | $2,066 |
| Net Land, buildings, and equipment | $5,257 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $212,789 |
| Accounts payable and accrued expenses | $10,546 |
| Grants payable | $0 |
| Deferred revenue | $33,750 |
| 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 | $44,296 |
| Net assets without donor restrictions | $134,666 |
| Net assets with donor restrictions | $33,827 |
| 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 | $212,789 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of Literacy Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Gannett Foundations Inc Mclean, VA PURPOSE: CHARITABLE PURPOSE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dollar General Literacy Foundation Goodlettsville, TN | $59,000,845 | $19,656,631 |
Governors Early Literacy Foundation Nashville, TN | $11,541,764 | $13,046,158 |
National Center For Families Learning Inc Louisville, KY | $16,159,024 | $7,570,588 |
Turnk The Page Kc Inc Kansas City, MO | $555,932 | $3,146,244 |
Book Harvest Durham, NC | $2,671,436 | $2,224,285 |
Preston Taylor Ministries Nashville, TN | $1,787,100 | $1,982,481 |
The Washington Commanders Charitable Foundation Inc Ashburn, VA | $1,361,978 | $1,048,751 |
Literacy Action Inc Atlanta, GA | $1,276,569 | $1,539,429 |
Ready Readers St Louis, MO | $1,581,585 | $1,585,720 |
The Global Village Project Inc Decatur, GA | $2,051,230 | $1,459,701 |
Carnegie Literacy Center Inc Lexington, KY | $1,003,564 | $1,222,449 |
Durham Literacy Center Inc Durham, NC | $1,363,688 | $948,350 |