Civic Intelligence

Literacy Inc.

990 • Fiscal year 2018 • EIN 13-3911331

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 13, 2019

5030 BROADWAY Suite 641New York, NY 10034

(212) 620-5462

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

45th percentile

0.08x

Higher debt load relative to assets than 45% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

42nd percentile

0.06x

Higher debt load relative to revenue than 42% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

73rd percentile

16%

Higher net margin than 73% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

68th percentile

$111,010

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

80th percentile

25%

Faster asset growth than 80% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

88th percentile

52%

Faster revenue growth than 88% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$2,619,387

Up $523,145 (+25%) from 2017

Net Assets

Up

$2,413,399

Up $578,874 (+32%) from 2017

Liabilities

Down

$205,988

Down $55,729 (-21%) from 2017

Revenue

Up

$3,684,440

Up $1,257,894 (+52%) from 2017

Expenses

Up

$3,105,566

Up $500,873 (+19%) from 2017

Net Income

Up

$578,874

Up $757,021 (+425%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $518,202Liabilities 2011: $37,440Net Assets 2011: $480,7622011Assets 2012: $1,068,164Liabilities 2012: $29,716Net Assets 2012: $1,038,4482012Assets 2013: $2,049,677Liabilities 2013: $54,757Net Assets 2013: $1,994,9202013Assets 2014: $2,299,943Liabilities 2014: $80,441Net Assets 2014: $2,219,5022014Assets 2015: $2,029,564Liabilities 2015: $77,726Net Assets 2015: $1,951,8382015Assets 2016: $2,127,168Liabilities 2016: $114,496Net Assets 2016: $2,012,6722016Assets 2017: $2,096,242Liabilities 2017: $261,717Net Assets 2017: $1,834,5252017Assets 2018: $2,619,387Liabilities 2018: $205,988Net Assets 2018: $2,413,3992018Assets 2019: $3,158,488Liabilities 2019: $241,407Net Assets 2019: $2,917,0812019Assets 2020: $4,273,397Liabilities 2020: $812,407Net Assets 2020: $3,460,9902020Assets 2021: $4,595,330Liabilities 2021: $784,841Net Assets 2021: $3,810,4892021Assets 2022: $8,106,270Liabilities 2022: $2,088,700Net Assets 2022: $6,017,5702022Assets 2023: $6,536,572Liabilities 2023: $556,645Net Assets 2023: $5,979,9272023Assets 2024: $9,133,070Liabilities 2024: $480,370Net Assets 2024: $8,652,7002024Assets 2025: $8,174,447Liabilities 2025: $359,495Net Assets 2025: $7,814,9522025

Highlighted filing

2018

Assets$2,619,387
Liabilities$205,988
Net Assets$2,413,399

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $797,778Expenses 2011: $776,643Net Income 2011: $21,1352011Revenue 2012: $1,268,550Expenses 2012: $710,864Net Income 2012: $557,6862012Revenue 2013: $1,774,836Expenses 2013: $818,364Net Income 2013: $956,4722013Revenue 2014: $1,564,371Expenses 2014: $1,339,789Net Income 2014: $224,5822014Revenue 2015: $1,574,103Expenses 2015: $1,841,767Net Income 2015: -$267,6642015Revenue 2016: $2,414,720Expenses 2016: $2,353,886Net Income 2016: $60,8342016Revenue 2017: $2,426,546Expenses 2017: $2,604,693Net Income 2017: -$178,1472017Revenue 2018: $3,684,440Expenses 2018: $3,105,566Net Income 2018: $578,8742018Revenue 2019: $3,956,750Expenses 2019: $3,453,068Net Income 2019: $503,6822019Revenue 2020: $4,141,149Expenses 2020: $3,597,713Net Income 2020: $543,4362020Revenue 2021: $3,899,705Expenses 2021: $3,549,655Net Income 2021: $350,0502021Revenue 2022: $6,716,163Expenses 2022: $4,480,628Net Income 2022: $2,235,5352022Revenue 2023: $5,091,797Expenses 2023: $5,155,894Net Income 2023: -$64,0972023Revenue 2024: $8,315,546Expenses 2024: $5,700,357Net Income 2024: $2,615,1892024Revenue 2025: $5,258,205Expenses 2025: $6,015,831Net Income 2025: -$757,6262025

Highlighted filing

2018

Revenue$3,684,440
Expenses$3,105,566
Net Income$578,874
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 13, 2019
Return Version
2017v2.3
Gross Receipts
$3,836,566
Mission and Program Overview

Mission

Linc's mission is to equip children with foundational literacy skills essential for kindergarten readiness and academic achievement by empowering families and mobilizing the community.

Literacy Inc. (LINC) mission is to engage families and community members to support young readers in high-need neighborhoods.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$836,131$1,213,793▲ $377,662
Pledges and Grants Receivable$326,294$903,416▲ $577,122
Cash and Non-Interest-Bearing Accounts$867,452$440,082▼ $427,370
Prepaid Expenses and Deferred Charges$36,603$35,823▼ $780
Accounts Receivable$10,989$8,375▼ $2,614
Land, Buildings, and Equipment, Net$7,973$4,048▼ $3,925
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,096,242$2,619,387▲ $523,145
Other Assets Total$10,800$13,850▲ $3,050
Liabilities
Accounts Payable and Accrued Expenses$261,717$205,988▼ $55,729
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$261,717$205,988▼ $55,729
Net Assets / Fund Balance
Unrestricted Net Assets$858,929$1,336,391▲ $477,462
Temporarily Rstr Net Assets$975,596$1,043,008▲ $67,412
Permanently Rstr Net Assets$0$34,000▲ $34,000
Total Net Assets Fund Balance$1,834,525$2,413,399▲ $578,874
Total Liabilities and Net Assets / Fund Balance$2,096,242$2,619,387▲ $523,145

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,048$20,333$24,381

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$975,596$1,069,512-$968,100$1,077,008
2016$1,158,446$843,100-$1,025,950$975,596
2015$1,148,996$1,150,950-$1,141,500$1,158,446
2014$1,670,532$1,066,500-$1,588,036$1,148,996
2013$1,560,224$1,038,056-$927,748$1,670,532
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Shari LevineExecutive DirectorFT$108,737$2,273$111,010

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
ALGORHYTHM io incEvaluation Service122 w montgomery street, Baltimore, MD 21230$222,156
True North INCAdvertising Agency630 THIRD AVENUE 12TH FLOOR, New York, NY 10017$100,610
Revenue and Support

Revenue Composition

Contributions and Grants
$3,586,162
Program Service Revenue
$0
Investment Income
$676
Other Revenue
$97,602
All Other Contributions
$1,552,979
Change in Net Assets
$578,874

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded5$50,445Fair Market Value (FMV)
Other Non Cash Contri Table16$17,427Fair Market Value (FMV)
Other Non Cash Contri Table1$1,200Fair Market Value (FMV)
Total Noncash Contributions22$69,072-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,629,440
Revenue Not Reported on Financial Statements
$55,000
Revenue Not Reported on Form 990
$99,320
Other Revenue Adjustments
$55,000
Total Revenue per Audited Statements
$3,728,760
Total Revenue per Form 990
$3,684,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,168,415
Other Expenses$804,151
Total Fundraising Expense$587,787
Professional Fundraising Fees$133,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,331,374$117,158$307,933$1,756,465
Fees for Services Other$226,083$3,330$8,754$238,167
Other Employee Benefits$105,619$9,294$24,429$139,342
Payroll Taxes$101,916$8,969$23,571$134,456
Fees for Services Professional Fundraising--$133,000$133,000
Current Officers, Directors, Trustees, and Key Employees$86,268$7,591$19,953$113,812
Occupancy$68,915$6,064$15,939$90,918
Office Expenses$47,909$4,216$11,080$63,205
Fees for Services Accounting$47,318$602$1,581$49,501
Pension Plan Contributions$18,449$1,624$4,267$24,340
Other Expenses$18,627$3,040$31,908$18,627
Insurance$6,212$547$1,437$8,196
Conferences and Meetings$4,101$361$948$5,410
Depreciation Depletion$2,975$262$688$3,925
Total Functional Expenses$2,354,721$163,058$587,787$3,105,566

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,149,886
Total Expenses per Form 990$3,105,566
Expenses per Audited Statements$3,050,566
Expenses Not Reported on Form 990$99,320
Expenses Not Reported on Financial Statements$55,000
Other Expense Adjustments$55,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$206,376
Fundraising Direct Expenses$152,126
Professional Fundraising Fees$133,000
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$768,472$206,376$40,778$165,598
Total Events$768,472$206,376$152,126$54,250
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI - Section B. Question 11B

A draft of The Form 990 is e-mailed to Board Members for comment deadline before filing. Part VI - Section B. Question 12c To regularly monitor and force compliance with the LINC's conflict of interest policy, annual conflict of interest statements are signed.

PART VI - SECTION B. QUESTIONS 15A & 15B

the Board of Directors conducts a yearly performance review of the Executive Director and sets the salary for the new year. This is done approximately in September for an October 1 new salary.

Part VI - Section C. Question 19

LINC makes its governing documents, conflict of interest policy available upon request. THE financial statements ARE available ON THE LINC WEBSITE.

Filing and Contact Details

Filer

Filer Name
Literacy Inc
EIN
13-3911331
In Care Of
% SHARI LEVINE OF LITERACY IN
Phone
2126205462
Address
5030 BROADWAY Suite 641, NEW YORK, NY 10034

Signing Officer

Name
Jacqueline a Kaiko
Title
Treasurer
Phone
2126617777
Signed
2019-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacqueline a Kaiko
Formed
1996
Legal Domicile
Ny
Voting Board Members
23
Independent Board Members
23
Employees
53
Volunteers
237

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY L
Address
ONE BATTERY PARK PLAZA, NEW YORK, NY 10004-1405
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Additional Explanations

Part III - Line 4A

LINC provided programming in nine high-poverty communities, bringing our comprehensive programming to 27 schools, 24 library partners, and 151 community partners and supporters. LINC provided 121 parent workshops attended by 1,410 parents, 66 of whom became VIPs Very Involved Parents parents who train and educate other parents. Our Reading Buddies program operated in 15 schools and served 1,647 partners and buddies. We also conducted 694 Reading Everywhere events, attended by 8,200 children and 2,145 parents.

Financial Statement Notes

Part V - Question 4

Temporarily restricted net assets consist of contributions that are restricted by the donor for a specific project or purpose or relate to future periods. THE $1,035,512 IN TEMPORARILY RESTRICTED NET ASSETS IS FOR FUTURE PROGRAMS AND OPERATIONS FY17 TO FY18. THE $7,496 IN THE MIMI LIEBER FUND IS FOR RECOGNITION AWARDS TO COMMUNITY MEMBERS WHO HAVE MADE SIGNIFICANT EFFORTS TO IMPROVE EARLY LITERACY. Permanently restricted net assets are subject to donor-imposed restrictions requiring that they be maintained permanently. During the year ending June 30, 2018, in connection with the termination of its operations, Learning Leaders, Inc., a New York corporation with tax-exempt status, transferred $34,000 of permanently restricted funds to LINC. LINC has classified the funds as permanently restricted and can only spend the investment returns. LINC plans to apply to the New York State Attorney General for permission to release the funds from restriction and if that permission is received, LINC will treat the released funds as general operating support.

Part XI - Line 4B

Gross up of professional funraising: 55,000.

Part XII - Line 4B

Gross up of professional funraising: 55,000.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.17$0.36$7.81$5.26$6.02$0.76
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.13$0.48$8.65$8.32$5.70$2.62
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.54$0.56$5.98$5.09$5.16$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.11$2.09$6.02$6.72$4.48$2.24
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.60$0.78$3.81$3.90$3.55$0.35
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.27$0.81$3.46$4.14$3.60$0.54
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.16$0.24$2.92$3.96$3.45$0.50
2018Detailed filing. Detailed filing data is available for this year.$2.62$0.21$2.41$3.68$3.11$0.58
2017Summary only. Only limited summary data is available for this year.$2.10$0.26$1.83$2.43$2.60$0.18
2016Summary only. Only limited summary data is available for this year.$2.13$0.11$2.01$2.41$2.35$0.06
2015Summary only. Only limited summary data is available for this year.$2.03$0.08$1.95$1.57$1.84$0.27
2014Summary only. Only limited summary data is available for this year.$2.30$0.08$2.22$1.56$1.34$0.22
2013Summary only. Only limited summary data is available for this year.$2.05$0.05$1.99$1.77$0.82$0.96
2012Summary only. Only limited summary data is available for this year.$1.07$0.03$1.04$1.27$0.71$0.56
2011Summary only. Only limited summary data is available for this year.$0.52$0.04$0.48$0.80$0.78$0.02