Virginia Literacy Foundation

Nonprofit profile at a glance

EIN
541444068
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8042378909
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Remedial Reading, Reading Encouragement

Reported finances

Revenue
$1,724,748
Expenses
$690,363
Assets
$1,886,673
Liabilities
$25,998

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

Leadership & pay

9 people listed

People named in this filing

  • JEANNIE BALILES (CHAIRPERSON)
  • RUTH HAZEL (VICE CHAIRPERSON)
  • TROILEN GAINEY SEWARD (TREASURER)

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

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

Overview

Mission

The foundation's purpose is to promote literacy amoung the residents of Virginia by supporting public literacy programs, enhancing literacy initiatives and encouraging statewide literacy awareness, and to make grants and aid to support this goal.

What it reported doing in 2024

Promote literacy amoung Virginia residents by supporting public lteracy programs, enhancing private sector literacy initiatives and encouragin statewide literacy awareness.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 84
  • Accountability: 94
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.3%; rating input score 36
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: $152.59 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 86.7%; rating input score 87; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 90.9%; rating input score 91; 39th percentile among comparable filings
  • 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 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 60%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.73; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -5.9% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 36.3% of revenue deployed · 89.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $621K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 23 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.