Institute For Financial Literacy Inc

Portland, ME
Tax-exempt since Oct. 2002
EIN: 76-0707546

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Human Services — Multipurpose and Other / Financial Counseling, Money Management (NTEE)

Donations to this organization are tax deductible.

Revenue

$281k (2023)

Expenses

$220k (2023)

Total Assets

$520k (2023)

Total Liabilities

$6.86k (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2023

Revenue

$280,801

Expenses

$219,656

Net Income

$61,145

Net Assets

$513,560

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$7,605	2.7%
Program Services	$267,230	95.2%
Investment Income	$4,504	1.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,462	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$70,660	32.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$21,973	10.0%

Assets/Debt
Total Assets	$520,422
Total Liabilities	$6,862
Net Assets	$513,560

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Exec Dir./Se)	$66,761	$0	$3,899
John Linfield (Board Chairm)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on May 7, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$150,784

Expenses

$128,907

Net Income

$21,877

Net Assets

$452,415

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$714	0.5%
Program Services	$149,454	99.1%
Investment Income	$616	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$63,457	49.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$19,565	15.2%

Assets/Debt
Total Assets	$475,167
Total Liabilities	$22,752
Net Assets	$452,415

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Exec Dir./Se)	$59,161	$0	$4,296
John Linfield (Board Chairm)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on June 28, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$153,749

Expenses

$121,050

Net Income

$32,699

Net Assets

$430,538

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,593	1.0%
Program Services	$151,542	98.6%
Investment Income	$614	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$59,762	49.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$18,825	15.6%

Assets/Debt
Total Assets	$432,498
Total Liabilities	$1,960
Net Assets	$430,538

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Exec Dir./Se)	$55,684	$0	$4,078
John Linfield (Board Chairm)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on May 11, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$152,888

Expenses

$132,451

Net Income

$20,437

Net Assets

$397,839

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$8,565	5.6%
Program Services	$143,710	94.0%
Investment Income	$613	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$66,765	50.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$18,421	13.9%

Assets/Debt
Total Assets	$398,403
Total Liabilities	$564
Net Assets	$397,839

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Exec Dir./Se)	$62,573	$0	$4,192
John Linfield (Board Chairm)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on July 26, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$191,125

Expenses

$174,702

Net Income

$16,423

Net Assets

$377,402

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$5,025	2.6%
Program Services	$185,491	97.1%
Investment Income	$609	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$53,654	30.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$16,306	9.3%

Assets/Debt
Total Assets	$399,654
Total Liabilities	$22,252
Net Assets	$377,402

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Exec Dir./Se)	$49,161	$0	$4,493
John Linfield (Board Chairm)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on Nov. 15, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$156,227

Expenses

$153,590

Net Income

$2,637

Net Assets

$360,979

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$3,563	2.3%
Program Services	$151,012	96.7%
Investment Income	$1,652	1.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$53,036	34.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$9,139	6.0%

Assets/Debt
Total Assets	$380,970
Total Liabilities	$19,991
Net Assets	$360,979

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Executive Director, Secretary)	$49,161	$0	$3,875
John Linfield (Board Chairman)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on May 14, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$174,906

Expenses

$146,422

Net Income

$28,484

Net Assets

$358,342

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$22,785	13.0%
Program Services	$151,425	86.6%
Investment Income	$696	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$53,300	36.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,876	1.3%

Assets/Debt
Total Assets	$360,746
Total Liabilities	$2,404
Net Assets	$358,342

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Executive Director, Secretary)	$49,037	$0	$4,263
John Linfield (Board Chairman)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on May 21, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$304,650

Expenses

$132,485

Net Income

$172,165

Net Assets

$329,858

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$140,064	46.0%
Program Services	$164,586	54.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$49,901	37.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$332,341
Total Liabilities	$2,483
Net Assets	$329,858

Compensation

Key Employees and Officers	Compensation	Related	Other
Rachel Gordon (Executive Director, Secretary)	$38,687	$0	$9,901
John Linfield (Board Chairman)	$0	$0	$0
Philip Susmann (Treasurer)	$0	$0	$0
Judi S Hutzler (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0

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990

Filed on Oct. 24, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$216,762

Expenses

$276,056

Net Income

-$59,294

Net Assets

$157,693

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$8,922	4.1%
Program Services	$207,797	95.9%
Investment Income	$43	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$122,249	44.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$27,776	10.1%

Assets/Debt
Total Assets	$160,446
Total Liabilities	$2,753
Net Assets	$157,693

Compensation

Key Employees and Officers	Compensation	Related	Other
John Linfield (Exec Dir (Partial Year)/Board Chair)	$72,938	$0	$11,993
Rachel Gordon (Executive Director (Partial Year))	$34,687	$0	$2,631
Philip Susmann (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0
Judith Hutzler (Director)	$0	$0	$0

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990

Filed on Aug. 1, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$22,352

Expenses

$559,886

Net Income

-$537,534

Net Assets

$216,987

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$30,884	> 100%
Program Services	$210,932	> 100%
Investment Income	$1,360	6.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	-$8,033
Net Fundraising	$0
Sales of Assets	-$212,791
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$257,442	46.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$121,260	21.7%

Assets/Debt
Total Assets	$243,838
Total Liabilities	$26,851
Net Assets	$216,987

Compensation

Key Employees and Officers	Compensation	Related	Other
Leslie Linfield (Secretary/Former Exec.Dir. (Sch O))	$125,000	$0	$792
John Linfield (Board Chair And Executive Director)	$124,519	$0	$7,131
Philip Susmann (Treasurer)	$0	$0	$0
Mark Cresse (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0
Steven Mchugh (Director)	$0	$0	$0
Raymond Bell (Director)	$0	$0	$0
Terry Davies (Director)	$0	$0	$0
Judi Hutzler (Director)	$0	$0	$0

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990

Filed on June 26, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2013

Revenue

$687,952

Expenses

$924,286

Net Income

-$236,334

Net Assets

$757,000

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$36,572	5.3%
Program Services	$508,808	74.0%
Investment Income	$2,727	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	-$11,506
Net Fundraising	$0
Sales of Assets	$135,001	19.6%
Net Inventory Sales	$0
Other Revenue	$16,350	2.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$196,922	21.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$304,725	33.0%

Assets/Debt
Total Assets	$1,516,221
Total Liabilities	$759,221
Net Assets	$757,000

Compensation

Key Employees and Officers	Compensation	Related	Other
Leslie Linfield (Exec. Dir. (Part Yr.)/Secretary)	$117,756	$0	$2,521
John Linfield (Chair/Deputy Dir. Exec.Dir.(Part Yr.))	$73,838	$0	$2,807
Philip Susmann (Treasurer)	$0	$0	$0
Mark Cresse (Director)	$0	$0	$0
Gwen Reichbach (Director)	$0	$0	$0
Steven Mchugh (Director)	$0	$0	$0
Raymond Bell (Director)	$0	$0	$0
Terry Davies (Director)	$0	$0	$0
Judi Hutzler (Director)	$0	$0	$0

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990

Filed on Aug. 14, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2012

Revenue

$1,622,451

Expenses

$1,694,256

Net Income

-$71,805

Net Assets

$993,334

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$81,687	5.0%
Program Services	$1,529,760	94.3%
Investment Income	$4,012	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	-$6,758
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$13,750	0.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$254,927	15.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$511,145	30.2%

Assets/Debt
Total Assets	$1,789,051
Total Liabilities	$795,717
Net Assets	$993,334

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2011

Revenue

$2,679,132

Expenses

$2,693,645

Net Income

-$14,513

Net Assets

$1,065,140

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$79,975	3.0%
Program Services	$2,589,301	96.6%
Investment Income	$5,940	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$1,057	0.0%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,859	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$241,167	9.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$934,946	34.7%

Assets/Debt
Total Assets	$1,976,456
Total Liabilities	$911,316
Net Assets	$1,065,140

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2010

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
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Updated December 20, 2024

Institute For Financial Literacy Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $281k (2023)

Expenses $220k (2023)

Total Assets $520k (2023)

Total Liabilities $6.86k (2023)

Tax Filings by Year

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

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990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

990-T

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

990-T

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Revenue

$281k (2023)

Expenses

$220k (2023)

Total Assets

$520k (2023)

Total Liabilities

$6.86k (2023)

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002