Ferst Readers Inc

Analysis

Ferst Readers Inc is a registered charity in United States, based in Madison, GA. It received its IRS tax-exemption ruling in July 1999, 27 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 December 2022, Ferst Readers Inc reported income of $1.8m and spending of $2.4m, spending 129% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.9m to $1.8m (-1.7%), an average of -0.6% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ferst Readers 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 85th percentile, and in the 88th percentile within GA. Charities of a similar size with the same main cause include Housing Consultants Group ($1.8m), Happy Acres Childrens Home ($1.8m) and Sprout Urban Farms Inc ($1.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 103% of the total. Compensation of current officers, directors and key employees was $155k (6.5% of expenses). Other salaries and wages came to $455k. At year end it held assets of $1.6m against liabilities of $19k, net assets of $1.6m. It reported 14 employees.