First Book

Analysis

First Book is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in November 1992, 34 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 December 2023, First Book reported income of $85.1m and spending of $88.4m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $95.5m to $85.1m (-11%), an average of -2.8% a year. The sharpest change came in the year to December 2020, when income rose by 33%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, First Book sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within DC. Charities of a similar size with the same main cause include Ohio University Foundation ($85.1m), The Masters University and Seminary ($85.1m) and Accreditation Council for Graduate Medical Education ($84.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $1.5m (1.7% of expenses). Other salaries and wages came to $6.7m. At year end it held assets of $35.6m against liabilities of $7.2m, net assets of $28.5m. It reported 105 employees.