Local First Educational Foundation

Analysis

Local First Educational Foundation is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Local First Educational Foundation reported income of $506k and spending of $658k, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $529k to $506k (-4.3%), an average of -1.1% a year. The sharpest change came in the year to December 2022, when income rose by 73%. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Local First Educational Foundation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MI. Charities of a similar size with the same main cause include Re-Stor-York Inc ($506k), Downtown Oxnard Improvement Association ($506k) and Oak Hill Community Trust ($505k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 47% of the total. At year end it held assets of $61k against liabilities of $1,750, net assets of $60k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.