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Latitude Learning Resources EIN 84-2244061

Latitude Learning Resources

EIN  84-2244061 Public charity (501(c)(3)) Derry, NH
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Size
$100K–1M
What they do
Offers classes, lectures, and advice to enrich students' character, abilities, and goals.
Leadership
Kathryn Michelotti · President · $19K
Money in and out
$247K revenue, $275K expenses
Bottom line
98% program efficiency

Offers classes, lectures, and advice to enrich students' character, abilities, and goals. For fiscal year 2024 it reported $247K in revenue, $275K in expenses, and $127K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$247K
Pt VIII · Ln 12
Total expenses
$275K
Pt IX · Ln 25
Net assets
$127K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$29K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Program efficiency
98%
of spending reaches programs▲ +3% vs prior filing year
Operating runway
5.6mo
months of highly liquid reserves at operating expense rate▼ -18% vs prior filing year
Surplus margin
-12%
revenue over expenses, this year▼ -196% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$247K
FY2024▼ -21%
Expenses
$275K
FY20240%
Total assets
$129K
FY2024▼ -18%
Total liabilities
$2K
FY2024▲ +63%
Total revenue
$247K
Pt VIII · Ln 12
Total expenses
$275K
Pt IX · Ln 25
Net assets
$127K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$29K
Total assetsPt X · Ln 16$129K
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

2 program services account for $451K of program spending, described in the organization's own filed words · FY2024.
01

To provide enrichment and scholarship opportunities for students and individuals.

$271Kprogram expense
02

To provide enrichment and scholarship opportunities for students and individuals.

$180Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLatitude Learning Resources
EINHdr · item D84-2244061
Principal addressHdr · item CDerry, NH
WebsiteHdr · item Jwww.latitudelearning.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B80)
Ruling yearIRS BMFMay 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$18,650Pt VII · Sec A
$13,000Pt VII · Sec A
Thomas Shealy
Vice Preside
$4,735Pt VII · Sec A
Thomas Shealy
Vice Preside
$3,070Pt VII · Sec A
$0Pt VII · Sec A
Olga Sorens
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Kathryn Michelotti’s $19K as President is at the 14th percentile of top reported officer pay among 1616 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kathryn Michelotti$18,650$8,825$6,125$3,751$5,762
Thomas Shealy$4,735$4,294$4,841——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$235K · 95%
Contributions & grants$11K · 5%
Program service revenue95%$235K
Contributions & grants5%$11K
Other revenue$134
Total revenueLn 12$247K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$271K
Management & general2%$4K
Total functional expensesLn 25$275K

Balance Sheet

Part X · end of year
CashLn 1$129K
Total assetsLn 16$129K
Total liabilitiesLn 26$2K
Total net assetsLn 32$127K
Months of cash on handcomputed5.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $129K · Operating expenses/yr $275K
5.6 months
Where the money goes
Program services
Program services $271K · Total expenses $275K
98%
Management & General
Management & general $4K · Total expenses $275K
2%
Fundraising
Fundraising $0 · Total expenses $275K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $800 · Solicited contributions (3-yr avg) $44K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $11K · Total revenue $247K
5%
Government reliance
Government grants — · Total revenue $247K
—
Earned-income share
Program service revenue $235K · Total revenue $247K
95%
Investment reliance
Investment income $0 · Total revenue $247K
0%
Program self-sufficiency
Program service revenue $235K · Total expenses $275K
85%
Growth & trend
Revenue growth (YoY)
This year $247K · Prior year $313K
-21%
Revenue CAGR
FY2020 $109K · FY2024 $247K
+23%
Net-asset trend (YoY)
End of year $127K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $247K · Expenses $275K
-12%
Liabilities-to-Assets
Total liabilities — · Total assets $129K
—
Net-asset ratio
Net assets $127K · Total assets $129K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $129K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kathryn Michelotti · Reported title PRESIDENT · Highest reported compensation $19K · Total expenses $275K
7%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $23K · Total expenses $275K
8%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 98%——
Overhead ratio 2%——
Fundraising cost ratio 0%——
Revenue growth -21%——
Legal fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$160
Total grants receivedfrom 1 funder$160

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$247K revenue · viewing · ⤓ 990 PDF
FY2023$313K revenue · ⤓ 990 PDF
FY2022$303K revenue · ⤓ 990 PDF
FY2021$166K revenue · ⤓ 990 PDF
FY2020$109K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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