First Literacy Inc
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 458,574 | 540,497 | −81,923 | 27.8 | 52% |
| 2021 | 653,913 | 645,880 | 8,033 | 28.1 | 54% |
| 2022 | 615,900 | 729,964 | −114,064 | 18.7 | 53% |
| 2023 | 490,804 | 752,639 | −261,835 | 15.7 | 29% |
In its most recent public year (2023), this organization spent $261,835 more than it brought in. Its reserves stood at about 15.7 months of spending, down from 27.8 in 2020. Staff pay was 29% of spending. $53,000 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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