Overview
What is The Literary Classics Of The Us Inc?
The Literary Classics of the U.S. Inc., doing business as Library of America, is a nonprofit organization based in New York City. Its primary objective is to ensure widespread access to essential American literary and historical works, thereby preserving the nation's heritage. To achieve this, they compile, edit, and publish affordable, textually accurate editions of significant American literature, poetry, and anthologies. These books are distributed to libraries, educational institutions, bookstores, and individuals, ensuring they reach scholars, educators, students, and the general public. Since its inception in 1979, the Library of America has published over 400 volumes annually, with an average of ten new additions. The organization aims to keep these works permanently in print, allowing future generations to benefit from them. As of now, over seven million volumes have been printed and distributed, providing access to countless individuals, with thousands of libraries and hundreds of thousands of volumes benefiting from this program annually.
Official website here: www.loa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95%, Four-Star out of Four Stars
The Literary Classics Of The Us Inc D/B/A Library Of America has achieved a commendable Four-Star rating from Charity Navigator, indicating a strong level of accountability and financial health. With a total score of 95%, this organization demonstrates high standards in its financial practices, particularly in areas such as board independence and financial oversight. Their thorough policies, including conflict of interest and whistleblower protections, further enhance their credibility.
A key strength of the organization is its program expense ratio, which stands at 69.33%, indicating that a significant portion of its budget is directed toward its programs rather than administrative costs. This is a positive sign for donors looking to support impactful initiatives. Additionally, their liabilities to assets ratio is low at 13.26%, showcasing a solid financial footing and sustainability.
However, the fundraising efficiency ratio of $0.25 suggests that while they are managing funds effectively, there may be room for improvement in how they raise funds. Despite this limitation, the overall evaluation reflects a well-managed nonprofit dedicated to its mission, with robust practices that inspire confidence in its operations.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Literary Classics Of The Us Inc?
92% of 529 reviewers on Facebook recommend The Literary Classics Of The US Inc. Here is a summary of their reviews:
Many patrons appreciate the diverse selection of titles offered by the nonprofit, highlighting the affordability of the options available. Customers feel that this organization makes classic literature accessible to a wider audience, which they find to be a commendable effort.
Overall, the sentiment is overwhelmingly positive, as individuals express gratitude for the mission of promoting literary classics while maintaining affordability. Users recognize the value provided, contributing to a strong sense of support for the nonprofit's work.
This AI summary has been generated from reviews found on Facebook.
Is The Literary Classics Of The Us Inc legitimate?
The Literary Classics Of The Us Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Literary Classics Of The Us Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $616,464
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,553,968
For more financial information, click here
Official website here: www.loa.org
What is the mission statement of The Literary Classics Of The Us Inc?
The mission of The Literary Classics of the US Inc, operating under the name Library of America, is to enhance appreciation for America's literary heritage. This is achieved by publishing and maintaining in print authoritative editions of the nation's best and most significant literary works. The organization's primary focus is to ensure widespread access to essential works from the American literary and historical tradition. This is done by compiling, editing, and publishing affordable and textually accurate editions of these literary pieces. These books are distributed to libraries, educational institutions, bookstores, and individuals, making them readily available to scholars, educators, students, and the general public. To date, over 400 volumes of literature, poetry, and anthologies have been published, with around ten new volumes added annually. The works are kept permanently in print to ensure continued access for future generations. While the exact number of people benefiting from this initiative is unknown, it's estimated that tens of millions have gained access to these essential works of American literature.
Official website here: www.loa.org
What is the revenue of The Literary Classics Of The Us Inc?
The Literary Classics Of The Us Inc's revenue in 2024 was $6,077,874.
Official website here: www.loa.org
Who are the executives of The Literary Classics Of The Us Inc and what are their salaries?
The average compensation at The Literary Classics Of The Us Inc during 2024 was $94,367. There are 23 employees and 50 volunteers at The Literary Classics Of The Us Inc.
Here are 24 key members and their salaries:
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Official website here: www.loa.org
Where can I find the form 990 for The Literary Classics Of The Us Inc?
The Literary Classics Of The Us Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.loa.org
Learn more at the official website: www.loa.org
Mission Statement of The Literary Classics Of The Us Inc
The Literary Classics of the US Inc, also known as the Library of America, was established with a mission to preserve and promote the nation's literary heritage. Founded in 1979, it undertakes an historic endeavor by publishing America's best and most significant writing in authoritative and durable editions. The organization's main focus is to ensure access by the general public to essential works of the American literary and historical tradition, thereby preserving the American past through its literary and historical achievements.
The mission of the Library of America is twofold. Firstly, it aims to foster greater appreciation for our nation's literary heritage by publishing and keeping permanently in print authoritative editions of America's best and most significant writing. Secondly, it compiles, edits, and publishes inexpensively priced and textually accurate editions of these works, making them widely available to scholars, educators, students, and the general public. To date, the Library of America has published over 400 volumes of literature, poetry, and anthologies, with an average of ten new volumes added annually. Most of these works are kept permanently in print to ensure continued access for future generations.
In pursuit of its mission, the Library of America distributes its publications to libraries, educational institutions, bookstores, and directly to individuals. This wide distribution ensures that these essential works of American literature are accessible to a broad audience, including scholars, educators, students, and the general public. Over seven million volumes have been printed and distributed since its inception, providing tens of millions of people with access to these works. By preserving and promoting America's literary heritage, the Library of America plays a crucial role in enriching our cultural understanding and appreciation of our nation's past.
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Impact
August, 2024
The impact of The Literary Classics Of The Us Inc D/B/A Library Of America, known simply as Library of America, has been significant in preserving and promoting America's literary heritage. Since its founding in 1979, this organization has dedicated itself to publishing the best and most important works of American literature in durable and high-quality editions. By making these works widely available to libraries, educational institutions, bookstores, and the general public, the Library of America has played a crucial role in ensuring access to essential works of the American literary and historical tradition.
With over 400 volumes published to date, covering literature, poetry, and anthologies, and with an average of ten new volumes being added annually, the Library of America has made a substantial contribution to preserving the American past through its literary achievements. Millions of individuals, including scholars, educators, students, and the general public, have benefited from the access provided to these works. The organization's commitment to keeping most works permanently in print ensures that future generations will also have the opportunity to engage with these literary treasures.
Through the distribution of approximately 300,000 volumes annually, the Library of America has made a wide-reaching impact on the cultural landscape of the country. By fostering a greater appreciation for the diversity and richness of American literature, this organization has solidified its place as a key player in promoting the nation's literary heritage.
This information is meant to be a general summary of The Literary Classics Of The Us Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $547,034
- Gross Receipts: $8,568,639
Assets and Liabilities:
- Total Assets: $30,362,811
- Total Liabilities: $1,573,196
- Net Assets: $28,789,615
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Organization Details
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