First Place

Analysis

First Place is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 August 2023, First Place reported income of $1.6m and spending of $1.7m, spending 105% of its income. Across the 4 years on record, from August 2018 to August 2023, income grew from $1.0m to $1.6m (+55%), an average of +16% a year. The sharpest change came in the year to August 2021, when income rose by 48%. Over the whole period it spent 100% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, First Place sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within WA. Charities of a similar size with the same main cause include Saint Marys Home for Disabled Children Foundation ($1.6m), Community Foundation of the Gunnison Valley ($1.6m) and American Friends of Mosdot Meir of Israel Inc ($1.6m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 68% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $34k (2.0% of expenses). Other salaries and wages came to $519k. At year end it held assets of $8.5m against liabilities of $1.5m, net assets of $6.9m. It reported 14 employees.