Foundation First

Analysis

Foundation First is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in June 2011, 15 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, Foundation First reported income of $2.4m and spending of $2.3m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $564k to $2.4m (+320%), an average of +43% a year. The sharpest change came in the year to June 2023, when income rose by 244%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Foundation First sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Project Syncere ($2.4m), Independent Colleges of Washington ($2.4m) and Jewish Education for Girls Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $838k. At year end it held assets of $816k against liabilities of $503k, net assets of $313k. It reported 14 employees.