First Class Learning and Development Center Inc

Analysis

First Class Learning and Development Center Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in November 2017, 9 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Class Learning and Development Center Inc reported income of $1.5m and spending of $1.5m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $952k to $1.5m (+55%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 93% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, First Class Learning and Development Center Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within NJ. Charities of a similar size with the same main cause include Ferrees Group Home Incorporated ($1.5m), Word Keepers Inc ($1.5m) and West Side Community House ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $263k (17% of expenses). Other salaries and wages came to $635k. At year end it held assets of $649k against liabilities of $385k, net assets of $265k. It reported 35 employees.