Academy of Financial Literacy Inc

Nonprofit profile at a glance

EIN
272486430
IRS 990-EZ coverage
2011–2019
Forms available
Form 990 2015, Form 990-EZ 2019
Location
Chandler, AZ, USA
Phone
8778332867
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Remedial Reading, Reading Encouragement

Reported finances

Revenue
$56,157
Expenses
$58,319
Assets
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • PHILLIP DAY (President)

People named in this filing

  • PHILLIP DAY (President)
  • IRINA DAY (Treasurer)
  • ALEX ALEXANDRA (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to provide financial education, materials and resources to all American households through our websites and telephone counseling.

What it reported doing in 2019

2018 Service Accomplishments: In 2018 we provided over 500 personalized budget counseling sessions free of charge to households and individuals through the U.S. Trustee Bankruptcy Program valued at over $16,000. Each counseling session provides detailed personalized budget counseling specifically for each household to meet or exceed the U.S. Trustee Bankruptcy Financial Education Requirements. We provided personalized budget counseling to over 5,000 households and individuals via one-on-one telephone counseling to meet or exceed the U.S. Trustee Financial Education Requirements. We also provided free of charge via our online education websites, 4988 Budget & Debt Management Books, 4265 Household Budget Sheets, 3650 Debt-to-Income Ratio forms and 4255 of our Financial Focus Book valued at over $90,000.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 82
  • Sustainability: 19
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.1%; rating input score 91
  • Program expense ratio: 87.7%; rating input score 88

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -3.8%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 67.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -9.6% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: -12.4% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -27.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 91.1% of revenue deployed · 87.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $51K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 5 of 5 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2011 to 2019
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.