FRIENDS OF LITERACY 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

1991

Legal Domicile

Principal Officer

WENDY WAND

Phone

8655497007

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF LITERACY INC, founded in 1991, is a small nonprofit in the Education sector that reported $232K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $295K exceeded revenue, resulting in a 27% operating deficit.

Mission

FRIENDS OF LITERACY INC IS NOT FOR PROFIT ORGANIZATION THAT HELPS LOW INCOME ADULTS, CHILDREN AND FAMILIES IN EAST TENNESSEE IMPROVE THEIR LITERACY SKILLS.

Program Service Accomplishments

Program 1

Expenses: $233,090

FAMILY AND ADULT LITERACY EDUCATION

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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 $211,495

Program Service Revenue $0

Investment Income $4,915

Other Revenue $15,635

TOTAL REVENUE $232,045

Expense Breakdown

Grants Paid $0

Salaries & Benefits $188,548

Fundraising Expenses $18,763

Program Expenses $233,090

Other Expenses $106,788

TOTAL EXPENSES $295,336

Year-over-Year Comparison

	2024	2023	Change
Revenue	$232,045	$293,401	-0.2%
Expenses	$295,336	$264,132	+0.1%
Net Income	$-63,291	$29,269	-3.2%

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

$65,948

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAWN MOSTEIT	PRESIDENT	5.00	Officer Director	$0	$0	$0
SUSY GRAY	SECRETARY	5.00	Officer Director	$0	$0	$0
LEAANNE WILLIAMS	TREASURER	5.00	Officer Director	$0	$0	$0
HARRY OGDEN	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CARTER HALL	BOARDMEMBER	5.00	Director	$0	$0	$0
TUNISIA HOLLEY	BOARDMEMBER	5.00	Director	$0	$0	$0
RAMO STOTT	BOARDMEMBER	5.00	Director	$0	$0	$0
LINDA SULLIVAN	BOARDMEMBER	5.00	Director	$0	$0	$0
JANAY TURNER	BOARDMEMBER	5.00	Director	$0	$0	$0
PATRICIA WILSON	BOARDMEMBER	5.00	Director	$0	$0	$0
JILL CARROL	BOARDMEMBER	5.00	Director	$0	$0	$0
TERESA BRITTAIN	EXECUTIVE DIRECTOR	40.00	Officer	$65,948	$0	$65,948

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	$232,045	$295,336	$144,155	$-63,291
2023	$293,401	$264,132	$221,573	$29,269
2022	$240,504	$249,248	$211,803	$-8,744
2021	$263,825	$216,168	$212,789	$47,657
2020	$297,425	$251,526	$167,931	$45,899
2019	$269,281	$242,881	$175,969	$26,400
2018	$331,782	$342,584	$167,999	$-10,802