THE LITERACY CONNECTION (EIN 363576823) - Form 990 Financial Analysis & Trantor Score

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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

Formation Year

1985

Legal Domicile

Principal Officer

MEGAN WHELESS

Phone

8477426565

Tax Period

2024-07-01 to 2025-06-30

THE LITERACY CONNECTION, founded in 1985, is a small nonprofit in the Education sector that reported $221K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $261K exceeded revenue, resulting in a 18% operating deficit.

Mission

The Literacy Connection is a community-based organization helping adults learners in Elgin and the surrounding northwest suburban area acquire fundamental literacy skills.

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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 $210,945

Program Service Revenue $850

Investment Income $816

Other Revenue $8,022

TOTAL REVENUE $220,633

Expense Breakdown

Grants Paid $0

Salaries & Benefits $218,448

Fundraising Expenses $7,268

Program Expenses $242,758

Other Expenses $42,672

TOTAL EXPENSES $261,120

Year-over-Year Comparison

	2024	2023	Change
Revenue	$220,633	$176,382	+0.3%
Expenses	$261,120	$206,545	+0.3%
Net Income	$-40,487	$-30,163	+0.3%

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

210

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

$62,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEGAN WHELESS	Executive Dir.	40.00	Officer	$62,500	$0	$62,500
JESSIE HUEBNER	Secretary	5.00	Officer Director	$0	$0	$0
VIKKI LAROCCO	Director	5.00	Director	$0	$0	$0
MARLEN GLENN	Director	2.00	Director	$0	$0	$0
CHRISTINE AWE	Treasurer	5.00	Officer Director	$0	$0	$0
COLLEEN STRIBLING	Vice President	2.00	Officer Director	$0	$0	$0
DAVID ESQUIVEL	President	2.00	Officer Director	$0	$0	$0
DAVID IM	Director	5.00	Director	$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	$220,633	$261,120	$162,295	$-40,487
2023	$236,641	$191,371	$232,809	$45,270
2021	$209,508	$208,310	$179,374	$1,198
2019	$207,178	$226,980	$204,360	$-19,802

THE LITERACY CONNECTION