Literacy Volunteers of Bangor

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Legal Domicile

Phone

2079478451

Tax Period

2024-07-01 to 2025-06-30

Literacy Volunteers of Bangor is a small nonprofit in the Education sector that reported $257K in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Expenses of $220K left a modest 14% surplus.

Mission

Literacy Volunteers of Bangor (LVB) helps Bangor area adults who want to work on basic English skills or to learn English as another language. Since 1969, we have helped change the lives of adults, one at a time. During July 1, 2023 - June 30, 2024, LVB orchestrated the efforts of 173 volunteers (most of whom are tutors) who gave more than 10,000 hours of service. These efforts helped 168 adults attain the following goals: get a job/better job (27), enter education/training (16), improve employability skills (58), greater community involvement (29) and/or other personal goals (101).

Program Service Accomplishments

Program 1

Expenses: $179,255

Basic Literacy Program helps adults with literacy barriers reach their personal and educational goals as they relate to improved reading, writing and spelling. In fiscal year ending June 30,2025, 48...

Program 2

English Language Program helps immigrants or "New Mainers" gain conversational English skills so that they can more fully function in our community. Additionally, tutors serve as "cultural brokers" to explain the nuances of American culture and help them prepare for the U.S. Citizenship Exam. In fiscal year ending June 30, 2025, 157 adults benefited.

Program 3

Family Literacy Program includes programming for those adults who are parenting children. Literate parents are better positioned to care for their children in home, work, school and health care...

Family Literacy Program includes programming for those adults who are parenting children. Literate parents are better positioned to care for their children in home, work, school and health care environments. In fiscal year ending June 30, 2025, 91 parenting adults and approximately 205 children ages 0-12 years were served.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $249,845

Program Service Revenue $2,608

Investment Income $4,865

Other Revenue $0

TOTAL REVENUE $257,318

Expense Breakdown

Grants Paid $0

Salaries & Benefits $157,375

Fundraising Expenses $24,179

Program Expenses $179,255

Other Expenses $62,687

TOTAL EXPENSES $220,062

Year-over-Year Comparison

	2024	2023	Change
Revenue	$257,318	$280,275	-0.1%
Expenses	$220,062	$193,385	+0.1%
Net Income	$37,256	$86,890	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

225

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
May Marin Taylor	Executive Director	30.00		$54,836	$0	$54,836
Brian Folster	Director	1.00	Director	$0	$0	$0
Casey Escobar	Director	0.50	Director	$0	$0	$0
Sally Dobres	Vice President	1.50	Director	$0	$0	$0
Shelby Hartin	Director	1.50	Director	$0	$0	$0
Janet Speranza-Moran	Director	1.50	Director	$0	$0	$0
Denise Gallop	Director	0.50	Director	$0	$0	$0
Leslie Sturzenberg	Director	4.50	Director	$0	$0	$0
Rachel Grivois	Treasurer	1.00	Director	$0	$0	$0
Carolina Rave	Director	1.00	Director	$0	$0	$0
Denise Allen	President	3.00	Officer	$0	$0	$0
Donna Keirstead	Director	1.50	Officer	$0	$0	$0
Gianna Marrs	Vice President	6.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$257,318	$220,062	$614,518	$37,256
2024	$280,275	$193,385	$539,912	$86,890
2022	$208,162	$169,458	$382,574	$38,704
2020	$213,994	$160,601	$279,445	$53,393
2020	$223,994	$160,601	$289,445	$63,393