Trident Literacy Association Inc

Nonprofit profile at a glance

EIN
570721308
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
North Charleston, SC, USA
Phone
8437472223
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$659,776
Expenses
$743,648
Assets
$365,277
Liabilities
$504,219

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JENNIFER GIBSON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JENNIFER GIBSON (EXECUTIVE DIRECTOR): $3,269 total reported compensation

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

Overview

Mission

The mission of trident literacy association is to eliminate all adult illiteracy and reverse the cycle of generational poverty in the charleston tri-county region. We will accomplish this through evidence-based programs facilitated by highly trained staff and volunteers supported by focused fundraising and fiscal sustainability.

What it reported doing in 2024

In fy 2024, trident literacy association served 917 adult learners through its core education programs, including 789 english as a second language (esl) students and 128 individuals pursuing their ged.

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.

The verdict

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

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.5%; rating input score 91
  • Fundraising efficiency: $18.58 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 1.38; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $680K in reported program spending
  • Leadership: top reported pay $3K · 7 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

  • High — Sustainability: Operating margin scored 14/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.