Principles First Inc

Analysis

Principles First Inc is a registered charity in United States, based in Katy, TX. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Principles First Inc reported income of $544k and spending of $437k, spending 80% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $225k to $544k (+141%), an average of +141% a year. The sharpest change came in the year to December 2023, when income rose by 141%. Over the whole period it spent 85% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Principles First Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 76th percentile within TX. Charities of a similar size with the same main cause include Virtue House Ministries Inc ($543k), Bromley Outing Club Inc ($544k) and After the Game Inc ($543k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $23k (5.3% of expenses). At year end it held assets of $175k against liabilities of $69k, net assets of $106k.