First Generation College Bound Inc

Analysis

First Generation College Bound Inc is a registered charity in United States, based in Laurel, MD. It received its IRS tax-exemption ruling in August 1991, 35 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, First Generation College Bound Inc reported income of $1.9m and spending of $1.3m, leaving 34% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.2m to $1.9m (+60%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 48%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, First Generation College Bound Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within MD. Charities of a similar size with the same main cause include Wright Christian Academy ($1.9m), Young Mens Educational Network ($1.9m) and Midland Valley Christian Academyinc ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $80k (6.3% of expenses). Other salaries and wages came to $578k. At year end it held assets of $2.3m against liabilities of $424k, net assets of $1.9m. It reported 16 employees.