Literacy Partners Inc

Nonprofit profile at a glance

EIN
510180665
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2127259200
Rating
79
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$6,035,091
Expenses
$5,807,728
Assets
$9,053,364
Liabilities
$927,784

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • Anthony Tassi (Former Chief Executive Officer)
  • Asaf Bar-Tura (Chief Executive Officer - July 2024)

Highest reported compensation

  • Anthony Tassi (Former Chief Executive Officer): $323,109 total reported compensation
  • Kristine Cooper (Chief External Affairs Officer): $174,115 total reported compensation
  • Michelle Lopez (Chief Program Officer): $145,383 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Literacy Partners, Inc. advances literacy two generations at a time, by supporting adults, parents, and caregivers in nurturing the literacy skills they and the children in their lives need to thrive.

What it reported doing in 2024

Community Workshops: This program includes community workshops for English and Spanish speaking parents and caregivers on topics such as early literacy, informal STEM, and the Science of Reading. These workshops build the capacity of parents and caregivers to promote their childrens early learning, social-emotional growth, and school readiness. In addition, this program provides every participant with a home library of age and language-appropriate books for their children, along with coaching and support that help participants make family reading a daily habit.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75%; rating input score 75
  • Program expense ratio: 70.5%; rating input score 70
  • Fundraising efficiency: $4.89 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 25th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.8%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 1.56; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 75% of revenue deployed · 70.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4.1M in reported program spending
  • Leadership: top reported pay $323K · 18 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Moderate — Transparency & Controls: Schedule M noncash within contributions did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.