Foundation of Firsthealth Inc

Analysis

Foundation of Firsthealth Inc is a registered charity in United States, based in Pinehurst, NC. It received its IRS tax-exemption ruling in June 1976, 50 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Foundation of Firsthealth Inc reported income of $10.3m and spending of $13.8m, spending 134% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.2m to $10.3m (+43%), an average of +9.3% a year. The sharpest change came in the year to September 2022, when income rose by 65%. Over the whole period it spent 79% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Foundation of Firsthealth Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within NC. Charities of a similar size with the same main cause include Minnewaska Lutheran Home ($10.3m), National Church Residences ($10.3m) and Council for Opportunity in Education ($10.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 56% of the total. Other salaries and wages came to $910k. At year end it held assets of $86.0m against liabilities of $4.0m, net assets of $82.1m.