First Principles Inc

Analysis

First Principles Inc is a registered charity in United States, based in Crestwood, KY. It received its IRS tax-exemption ruling in October 1995, 31 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, First Principles Inc reported income of $111k and spending of $89k, spending 80% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $28k to $111k (+295%), an average of +295% a year. The sharpest change came in the year to December 2023, when income rose by 295%. Over the whole period it spent 133% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, First Principles Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 39th percentile within KY. Charities of a similar size with the same main cause include Delaware County Historical Society Pennsylvania ($111k), Kids Video Connection Inc ($111k) and Missouri Alliance for Arts Education ($111k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $40k against liabilities of $10k, net assets of $30k.