Overview
What is Literacy Assistance Center Inc?
The Literacy Assistance Center Inc, located at 85 Broad Street, New York, NY 10004, is a dedicated nonprofit organization with a mission to fortify and expand the adult education system. Their primary objective is to elevate adult literacy as a cornerstone of society, fostering equal opportunity and social justice. Established in 1983, they have devoted their efforts to enhancing the capacity and improving the quality of Adult Basic Education, English for Speakers of Other Languages, and High School Equivalency programs serving New York's educationally and economically disadvantaged adults and out-of-school youth. In 2022, they concluded the fourth year and commenced the fifth year of a five-year contract with the New York State Education Department (NYSED), managing and maintaining their Adult Student Information System and Technical Support (ASISTS). ASISTS is a crucial component of NYSED's accountability system, tracking and analyzing data for over 75,000 adult literacy students annually, supporting the evaluation and funding of over 150 adult literacy programs throughout the state.
Official website here: www.lacnyc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Literacy Assistance Center Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization's high score is attributed primarily to excellent management practices, with a perfect score in several areas, including board independence and financial oversight. The center has demonstrated robust governance, as evidenced by its majority independent board and comprehensive policies in place.
The organization boasts a favorable program expense ratio of 85.57%, indicating that a significant portion of its resources is directed towards fulfilling its mission of enhancing literacy. The strong fiscal management is further supported by a low liabilities-to-assets ratio of 19.07%, suggesting a solid financial foundation. Transparency is also emphasized, with thorough documentation practices and policies such as conflict of interest and whistleblower protections listed on its website.
While the ratings highlight many strengths, potential donors should remain mindful of the context surrounding nonprofit evaluations and consider additional qualitative factors when assessing impact. Overall, Literacy Assistance Center Inc appears to be a well-managed organization making significant strides in literacy assistance.
This AI summary has been generated from information found on Charity Navigator.
Is Literacy Assistance Center Inc legitimate?
Literacy Assistance Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Literacy Assistance Center 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: $314,320
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,037,709
For more financial information, click here
Official website here: www.lacnyc.org
What is the mission statement of Literacy Assistance Center Inc?
The Literacy Assistance Center (LAC) is committed to strengthening and expanding the adult education system. Their mission is to advance adult literacy as a fundamental value in society, serving as a foundation for equal opportunity and social justice. Established in 1983, LAC has been dedicated to enhancing the capacity and improving the quality of Adult Basic Education, English for Speakers of Other Languages, and High School Equivalency programs. These programs cater to New York's educationally and economically marginalized adults and out-of-school youth.
Official website here: www.lacnyc.org
Who is the CEO of Literacy Assistance Center Inc?
Ira Yankwitt is the Chair of Literacy Assistance Center Inc.
Official website here: www.lacnyc.org
What is the revenue of Literacy Assistance Center Inc?
Literacy Assistance Center Inc's revenue in 2022 was $2,348,883.
Official website here: www.lacnyc.org
Who are the executives of Literacy Assistance Center Inc and what are their salaries?
The average compensation at Literacy Assistance Center Inc during 2022 was $75,113. There are 18 employees and 13 volunteers at Literacy Assistance Center Inc.
Here are 15 key members and their salaries:
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- Compensation: $131,954
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- Other: $26,789
- Compensation: $119,363
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- Other: $21,427
Official website here: www.lacnyc.org
Where can I find the form 990 for Literacy Assistance Center Inc?
Literacy Assistance Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lacnyc.org
Learn more at the official website: www.lacnyc.org
Mission Statement of Literacy Assistance Center Inc
The Literacy Assistance Center (LAC) is committed to enhancing and expanding the adult education system. Their primary objective is to elevate adult literacy as a fundamental value in society, serving as a basis for equal opportunity and social justice. Established in 1983, the Literacy Assistance Center has been dedicated to bolstering the capacity and improving the quality of Adult Basic Education (ABE), English for Speakers of Other Languages (ESOL), and High School Equivalency (HSE) programs. These programs cater to New York's most educationally and economically disadvantaged adults and out-of-school youth, working tirelessly to empower them and provide them with the necessary tools for a better future.
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Impact
August, 2024
Literacy Assistance Center Inc's impact is significant in strengthening and expanding the adult education system. They actively work towards advancing adult literacy as a core value in our society and as a foundation for equal opportunity and social justice. Through their work, they have improved the quality of adult basic education, English for speakers of other languages, and high school equivalency programs. Their efforts have particularly benefited New York's most educationally and economically marginalized adults and out-of-school youth since 1983.
This information is meant to be a general summary of Literacy Assistance Center 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 2022.
- Investment Income: $40
- Program Service Revenue: $22,450
- Gross Receipts: $2,348,883
Assets and Liabilities:
- Total Assets: $1,805,179
- Total Liabilities: $324,862
- Net Assets: $1,480,317
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EDUCATIONAL ENTERPRISE
Revenue
$22,450
Organization Details
Founding Year
1983
Phone
(212) 803-3300Principal Officer
Ira Yankwitt
Main Address
85 BROAD STREET, NEW YORK, NY, 10004
Website
www.lacnyc.orgNTEE Category
Code: B61B - Education
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