Virginia State Literacy Association Inc

Nonprofit profile at a glance

EIN
237022502
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Glen Allen, VA, USA
Phone
8042831768
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$424,862
Expenses
$360,759
Assets
$586,483
Liabilities
$16,646

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Angela Kraje (President)
  • Julie Gray (President Elect)
  • Emma Washington (Vice President)
  • Virginia Massaro (Past President)

People named in this filing

  • Angela Kraje (President)
  • Julie Gray (President Elect)
  • Emma Washington (Vice President)

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 organizations purpose is to serve as a leading authority on literacy education in Virginia. VSRA works through its educational programs to advance literacy through all available channels.

What it reported doing in 2024

Programs promoting literacy and reading education for the approximately 1,200 members, including publication of an annual reading journal and periodic newsletters providing information on reading education, scholarships and teacher grants. The organization also conducts education programs for professionals and students through their 17 local chapters in Virginia.

Operating model

Revenue model
Earned-program. 68% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 95% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 99
  • Accountability: 82
  • Sustainability: 60
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.5%; rating input score 69
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: $16.43 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.9%; rating input score 95; 55th 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: 4 of 7 controls in place; rating input score 57
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 1.63; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 68.5% of revenue deployed · 80.6% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $291K in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.