The Literacy Project Foundation

Tax-deductible

Newport Beach, CA501(c)(3)Community DevelopmentEIN 33-0395322Revenue $401K in FY2024

On file with the IRSliteracyprojfoundation.org525 Superior Ave, 92663-3630 · Newport Beach, CATax-exempt since Mar 1990Publicly supported charity — 170(b)(1)(A)(vi)

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The literacy's project's mission is to eliminate the Literacy gap of underserved second and third grade students from low-income families who are functionally illiterate. Our vision is to foster a lifelong love of reading in each student since reading is key to learning and achieving the american dream.

501(c)(3) charity; gifts are tax-deductible.
14¢ of each $1 spent went to programs.
Run by 60 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $128K a year · 35% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
14%
of spending
Concern: 14% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
31 mo
of spending, in cash
Looks good: 31.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $104K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$401K
+22% vs prior year
Spent
$297K
To programs
14%
Net assets
$853K
By yearFY2021–FY2024
Revenue
$401K
FY2024▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2021$268K
FY2022$482K
FY2023$329K
FY2024$401K
Expenses
$297K
FY2024▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2021$156K
FY2022$221K
FY2023$292K
FY2024$297K
Net assets
$853K
FY2024▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2021$446K
FY2022$707K
FY2023$744K
FY2024$853K

From the FY2024 Form 990 (year ending June 2024) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1990.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

14 cents of each dollar spent went to programs.

Program services 14% · $43K Management & general 73% · $218K Fundraising 12% · $37K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chairman
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Literacy Project Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps low-income second and third graders become strong readers.

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Provided by the organization

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1 program · $43K · in their own filed words · FY2023
01

Through pre- and post-testing, both academic and attitudinal, the literacy project program proves significant, measurable gains in phonics, word decoding, word identification, english fluency, and reading, which increases self-esteem and confidence in reading skills.

$43Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$104K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$401K
Ln 12
Gifts and grantsLn 1h$346K
Other incomeLn 4–11$49K
Fees for servicesLn 2g$5K
Money outPt IX
$297K
Ln 25
Programscol B$43K
Managementcol C$218K
Fundraisingcol D$37K
Owns and owesPt X
$853K
net assets · Ln 32
Cash and savingsLn 1–2$772K
Total assetsLn 16$859K
LiabilitiesLn 26$6K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$346K
Fees for servicesLn 2g$5K
Other incomeLn 4–11$49K
Gains on assetsLn 7$0
Total revenueLn 12$401K
Assets in detailPt X, end of year
CashLn 1$266K
SavingsLn 2$506K
Cash and savings togetherLn 1–2$772K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$6K
Other assetsLn 15$2K
Total assetsLn 16$859K
LiabilitiesLn 26$6K
Net assetsLn 32$853K
OperationsPt I, VI
EmployeesI 51
VolunteersI 660
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$683K$772K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$2K$6K
Total assetsLn 16$751K$859K
LiabilitiesLn 26$2K$6K
Net assetsLn 32$748K$853K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$75K$75K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$39K$39K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$2K$2K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$4K$4K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$6K$6K
Advertising and promotionLn 12$21K$21K
Office expensesLn 13$3K$3K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$30K$30K
TravelLn 17$1K$1K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$662$575$87
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$97K$42K$49K$6K
All other expensesLn 24e$18K$684$8K$9K
Total functional expensesLn 25$297K$43K$218K$37K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $401K$297K$103K$853K 990 PDF
FY2023 $329K$292K$37K$744K 990 PDF
FY2022 $482K$221K$261K$707K 990 PDF
FY2021 $268K$156K$111K$446K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $400,656 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $253,830$346,493
I-9 Program service revenue$4,750
I-10 Investment income$0
I-11 Other revenuePrior year $47,192$49,413
I-12 Total revenuePrior year $301,022$400,656
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $10,466$116,244
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $281,424$180,960
I-18 Total expensesPrior year $291,890$297,204
I-19 Revenue less expensesPrior year $9,132$103,452
Part VI · Governance 14 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $400,656 across 8 lines filed
Lines not itemized here account for $4,750 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$346,493
VIII-1h Total contributions, gifts and grants$346,493
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$49,413
VIII-12 Total revenueExcluded from tax $4,750$400,656
Part IX · Statement of functional expenses $297,204 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffManagement $75,000$75,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesManagement $38,807$38,807
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesManagement $2,437$2,437
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $3,500$3,500
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $5,975$5,975
IX-12 Advertising and promotionFundraising $20,987$20,987
IX-13 Office expensesManagement $2,581$2,581
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyManagement $29,689$29,689
IX-17 TravelManagement $1,105$1,105
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $575 · Fundraising $87$662
IX-23 InsuranceManagement $1,287$1,287
IX-24 Other expenses (24a–d)Programs $42,172 · Management $48,620 · Fundraising $6,455$97,247
IX-24e All other expensesPrograms $684 · Management $8,128 · Fundraising $9,115$17,927
IX-25 Total functional expensesPrograms $42,856 · Management $217,704 · Fundraising $36,644$297,204
Part X · Balance sheet $858,675 assets, 19 lines filed
Asset lines not itemized here account for $23,561; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $683,198$266,319
X-2 Savings and temporary cash investments$505,534
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or useStart of year $57,860$55,220
X-9 Prepaid expenses and deferred chargesStart of year $4,985$0
X-10c Land, buildings and equipment, netStart of year $2,229$5,593
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $2,448$2,448
X-16 Total assetsStart of year $750,720$858,675
X-17 Accounts payable and accrued expensesStart of year $1,000$4,828
X-25 Other liabilitiesStart of year $1,401$752
X-26 Total liabilitiesStart of year $2,401$5,580
X-27 Net assets without donor restrictionsStart of year $748,319$853,095
X-32 Total net assets or fund balancesStart of year $748,319$853,095
X-33 Total liabilities and net assetsStart of year $750,720$858,675
Part XI · Reconciliation of net assets $853,095 net assets at year end
XI-1 Total revenue$400,656
XI-2 Total expenses$297,204
XI-3 Revenue less expenses$103,452
XI-4 Net assets at start of year$748,319
XI-8 Prior period adjustments$1,324
XI-10 Net assets at end of year$853,095

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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