Firstspark Inc

Analysis

Firstspark Inc is a registered charity in United States, based in Newport News, VA. It received its IRS tax-exemption ruling in February 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Firstspark Inc reported income of $4.2m and spending of $4.1m, spending 98% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $889k to $4.2m (+368%), an average of +67% a year. The sharpest change came in the year to June 2021, when income rose by 217%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Firstspark Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include Sun Valley Writers Conference Inc ($4.2m), Pequeno Campeon de Jesus Inc ($4.2m) and Wise Learning Corporation ($4.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $94k (2.3% of expenses). Other salaries and wages came to $802k. At year end it held assets of $1.2m against liabilities of $464k, net assets of $698k. It reported 28 employees.