First Childrens Finance

Analysis

First Childrens Finance is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in October 1991, 35 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2024, First Childrens Finance reported income of $30.3m and spending of $31.5m, spending 104% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.8m to $30.3m (+1559%), an average of +75% a year. The sharpest change came in the year to June 2023, when income rose by 207%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, First Childrens Finance sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MN. Charities of a similar size with the same main cause include Youth in Need ($30.3m), Whole Life Inc ($30.3m) and Agency for Community Transit ($30.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 81% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $1.3m (4.1% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $15.8m against liabilities of $7.0m, net assets of $8.9m. It reported 77 employees.