THE LITERACY COOPERATIVE OF GREATER CLEVELAND (EIN 900453660) - 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

2007

Legal Domicile

Principal Officer

ROBERT E PAPONETTI

Phone

2167766180

Tax Period

2024-01-01 to 2024-12-31

THE LITERACY COOPERATIVE OF GREATER CLEVELAND, founded in 2007, is a small nonprofit in the Education sector that reported $743K in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 57% operating deficit.

Mission

THE LITERACY COOPERATIVE OF CLEVELAND WAS FORMED FOR PUBLIC, CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES RELATING TO THE IMPROVEMENT OF THE LITERACY RATE IN THE GREATER CLEVELAND AREA.

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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 $654,219

Program Service Revenue $88,443

Investment Income $0

Other Revenue $0

TOTAL REVENUE $742,662

Expense Breakdown

Grants Paid $0

Salaries & Benefits $584,233

Fundraising Expenses $136,357

Program Expenses $749,467

Other Expenses $584,683

TOTAL EXPENSES $1,168,916

Year-over-Year Comparison

	2024	2023	Change
Revenue	$742,662	$1,015,740	-0.3%
Expenses	$1,168,916	$1,050,159	+0.1%
Net Income	$-426,254	$-34,419	+11.4%

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

150

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

$214,332

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SALLY BROCIOUS	TRUSTEE	1.00	Director	$0	$0	$0
TONY CONTRUCCI	TRUSTEE	1.00	Director	$0	$0	$0
JULIE CROCKER	CHAIR - GOVE	1.00	Officer Director	$0	$0	$0
CRAIG DORN	CO-VICE-CHAI	1.00	Officer Director	$0	$0	$0
DAN EBERHARDT	TRUSTEE	1.00	Director	$0	$0	$0
DAN FLUHARTY	TRUSTEE	1.00	Director	$0	$0	$0
KRISTIN FRENCH	TRUSTEE	1.00	Director	$0	$0	$0
VALLERY GAINES	SECRETARY	1.00	Officer Director	$0	$0	$0
AL HARSAR	TREASURER	1.00	Officer Director	$0	$0	$0
LAURA HALL	TRUSTEE	1.00	Director	$0	$0	$0
CASSANDRA JOHNSON	TRUSTEE	1.00	Director	$0	$0	$0
DONALD JOLLY	TRUSTEE	1.00	Director	$0	$0	$0
KURT KARAKUL	CO-VICE-CHAI	1.00	Officer Director	$0	$0	$0
CAROLE BEATY	TRUSTEE	1.00	Director	$0	$0	$0
CELIA LAMB	TRUSTEE	1.00	Director	$0	$0	$0
ELYSE MULLIGAN	TRUSTEE	1.00	Director	$0	$0	$0
CONNIE THACKABERRY	TRUSTEE	1.00	Director	$0	$0	$0
JAMES VON DER HEYDT	TRUSTEE	1.00	Director	$0	$0	$0
SUZANA VUJASIN	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT E PAPONETTI	CEO	40.00	Officer	$188,802	$25,530	$214,332

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
2024	$742,662	$1,168,916	$1,273,569	$-426,254
2023	$1,015,740	$1,050,159	$1,621,551	$-34,419
2022	$1,059,896	$1,161,307	$1,522,594	$-101,411
2021	$1,682,709	$1,109,446	$1,634,189	$573,263
2020	$966,362	$957,938	$979,193	$8,424
2019	$1,001,855	$988,377	$918,384	$13,478
2018	$994,823	$993,590	$803,817	$1,233

THE LITERACY COOPERATIVE OF GREATER CLEVELAND