LITERACYWORKS

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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

2001

Legal Domicile

Principal Officer

PAUL HEAVENRIDGE

Phone

7079818086

Tax Period

2023-01-01 to 2023-12-31

LITERACYWORKS, founded in 2001, is a small nonprofit in the Education sector that reported $753K in total revenue in fiscal year 2023. Revenue surged 66% from the prior year, signaling strong growth momentum. Expenses of $890K exceeded revenue, resulting in a 18% operating deficit.

Mission

OUR MISSION IS TO PROVIDE DYNAMIC RESOURCES AND OPPORTUNITIES THAT GIVE ADULTS, FAMILIES, AND CHILDREN A FOUNDATION FOR LIFELONG LEARNING AND ACHIVEMENT.

Program Service Accomplishments

Program 1

Expenses: $780,864

DEVELOPMENT OF MULTIMEDIA EDUCATIONAL MATERIALS AND WEBSITE STRUCTURES FOR LITERACY OUTREACH IN LIBRARIES AND SCHOOLS. SUPPORTS 200 LITERACY AND EDUCATION RESOURCE WEBSITES, 130 EDUCATIONAL ONLINE...

DEVELOPMENT OF MULTIMEDIA EDUCATIONAL MATERIALS AND WEBSITE STRUCTURES FOR LITERACY OUTREACH IN LIBRARIES AND SCHOOLS. SUPPORTS 200 LITERACY AND EDUCATION RESOURCE WEBSITES, 130 EDUCATIONAL ONLINE DISCUSSION GROUPS AND DEVELOPES ONLINE EDUCATIONAL CURRICULUM.

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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 $753,340

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $753,340

Expense Breakdown

Grants Paid $29,541

Salaries & Benefits $802,105

Fundraising Expenses $0

Program Expenses $780,864

Other Expenses $58,731

TOTAL EXPENSES $890,377

Year-over-Year Comparison

	2023	2022	Change
Revenue	$753,340	$455,136	+0.7%
Expenses	$890,377	$286,133	+2.1%
Net Income	$-137,037	$169,003	-1.8%

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

$54,552

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL HEAVENRIDGE	Vice President	40.00	Officer	$54,552	$0	$54,552
GREG SARRIS	HONORARY MEMBER	0.00	Director	$0	$0	$0
PETER COYOTE	HONORARY MEMBER	0.00	Director	$0	$0	$0
GLORIA CRUZ MCCALLISTER	Secretary	0.00	Director	$0	$0	$0
LYNN WOOLSEY	HONORARY CHAIR	0.00	Director	$0	$0	$0
TOM CORBETT	President	0.00	Officer	$0	$0	$0
LINDA HAAKE	Treasurer	0.00	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
2024	No data	No data	No data	No data
2023	$753,340	$890,377	$51,404	$-137,037
2022	$455,136	$286,133	$185,969	$169,003
2021	$231,450	$257,410	$53,139	$-25,960
2020	$343,096	$299,324	$45,742	$43,772
2019	$295,036	$300,725	$5,570	$-5,689
2018	$238,800	$396,943	$15,098	$-158,143