TRIDENT LITERACY ASSOCIATION INC

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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

1972

Legal Domicile

Principal Officer

JENNIFER GIBSON

Phone

8437472223

Tax Period

2023-07-01 to 2024-06-30

TRIDENT LITERACY ASSOCIATION INC, founded in 1972, is a small nonprofit that reported $586K in total revenue in fiscal year 2023. Expenses of $705K exceeded revenue, resulting in a 20% operating deficit.

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.

Program Service Accomplishments

Program 1

Expenses: $432,922 Revenue: $240

IN FY 2024, TRIDENT LITERACY ASSOCIATION SERVED 515 ADULT LEARNERS THROUGH ITS CORE EDUCATION PROGRAMS, INCLUDING 403 ENGLISH AS A SECOND LANGUAGE (ESL) STUDENTS AND 112 INDIVIDUALS PURSUING THEIR...

IN FY 2024, TRIDENT LITERACY ASSOCIATION SERVED 515 ADULT LEARNERS THROUGH ITS CORE EDUCATION PROGRAMS, INCLUDING 403 ENGLISH AS A SECOND LANGUAGE (ESL) STUDENTS AND 112 INDIVIDUALS PURSUING THEIR GED.

Program 2

Expenses: $94,158 Revenue: $28,465

THIS YEAR, 13 ESL STUDENTS AND 21 GED STUDENTS SUCCESSFULLY GRADUATED, DEMONSTRATING MEANINGFUL PROGRESS TOWARD LANGUAGE PROFICIENCY AND ACADEMIC ACHIEVEMENT. THE MAJORITY OF OUR PARTICIPANTS FACED SIGNIFICANT BARRIERS: 414 EXPERIENCED CULTURAL CHALLENGES, 109 WERE CLASSIFIED AS LOW INCOME, 45 RECEIVED PUBLIC ASSISTANCE, AND 27 DISCLOSED A DISABILITY. WE ALSO SUPPORTED 403 STUDENTS WHO WERE CONCURRENTLY ENROLLED IN SECONDARY EDUCATION, AS WELL AS INDIVIDUALS NAVIGATING REENTRY FROM INCARCERATION (3), HOMELESSNESS (3), AND SINGLE PARENTHOOD (12). OUR STUDENT BODY REFLECTED THE REGION'S DIVERSITY, WITH 334 IDENTIFYING AS HISPANIC, 65 AS BLACK, 79 AS WHITE, 27 AS ASIAN, 7 AS TWO OR MORE RACES, AND 2 AS PACIFIC ISLANDER. OF THOSE SERVED, 329 IDENTIFIED AS FEMALE AND 185 AS MALE, WITH ONE NON-BINARY STUDENT WHOSE DATA IS NOT INCLUDED IN THE DEMOGRAPHIC TOTALS TO PROTECT CONFIDENTIALITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $570,359

Program Service Revenue $28,705

Investment Income $-12,570

Other Revenue $0

TOTAL REVENUE $586,494

Expense Breakdown

Grants Paid $0

Salaries & Benefits $425,305

Fundraising Expenses $16,024

Program Expenses $527,080

Other Expenses $280,169

TOTAL EXPENSES $705,474

Year-over-Year Comparison

	2023	2022	Change
Revenue	$586,494	$581,551	+0.0%
Expenses	$705,474	$771,496	-0.1%
Net Income	$-118,980	$-189,945	-0.4%

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

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

$3,269

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MERVYN GIBSON	CHAIR EMERITUS	1.00	Officer Director	$0	$0	$0
MARK POERIO	CHAIR	1.00	Officer Director	$0	$0	$0
JOANN SHERMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
RAQUEL PADGETT	AT LARGE	1.00	Director	$0	$0	$0
LIBBY PAUL	AT LARGE	1.00	Director	$0	$0	$0
KEVIN WELLS	AT LARGE	1.00	Director	$0	$0	$0
JENNIFER GIBSON	EXECUTIVE DIRECTOR	40.00	Officer	$3,269	$0	$3,269

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	No data	No data	No data	No data
2024	$586,494	$705,474	$247,106	$-118,980
2023	$581,551	$771,496	$299,655	$-189,945
2022	$862,485	$732,640	$490,561	$129,845
2021	$874,291	$748,780	$439,190	$125,511
2020	$700,605	$719,399	$382,402	$-18,794
2019	$738,036	$789,531	$186,186	$-51,495
2018	$573,169	$758,991	$181,196	$-185,822