First Book
- Assets
- $78.4m
- Revenue
- $119.2m
- Investments
- $0.0
- Employees
- 113
- Location
- Washington, DC
- Founding
- 11/1992
- Data as of
- 12/2021
- EIN
- 52-1779606
Organization Overview
First Book is located in Washington, DC. The organization was established in 1992. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 12/2021, First Book employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Book is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, First Book generated $119.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $102.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRST BOOK PROVIDES PROGRAMS AIMED AT REMOVING BARRIERS TO EQUATABLE EDUCATION TO A COMMUNITY OF OVER 525,000 NETWORK MEMBER EDUCATORS INCLUDING FIRSTBOOK RESEARCH & INSIGHTS THAT ELEVATES THE VOICE OF EDUCATORS TO IDENTIFY THE MOST URGENT NEEDS AND FIRST BOOK ACCELERATOR THAT EXPEDITES ACCESS TO EVIDENCE-BASED STRATEGIES FROM EXPERTS TO ADDRESS EDUCATOR-REQUESTED TOPICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Zimmer President And CEO | OfficerTrustee | 40 | $232,688 |
Daniel Stokes Chief Administrative Officer | Officer | 40 | $221,013 |
Becki Last Chief Program Officer | Officer | 40 | $214,922 |
Chris Stine Sr. Vice President Of It | 40 | $211,605 | |
Carey Palmquist Chief Operating Officer | Officer | 40 | $211,288 |
Julie Fortenbery Executive Vice President, Fina | Officer | 40 | $180,264 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chris Queen Consulting Consulting, It | 12/30/21 | $212,000 |
Mm F Street Dc Llc Rent | 12/30/21 | $566,685 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,486,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,749,628 |
| Noncash contributions included in lines 1a–1f | $79,720,561 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $104,236,528 |
| Total Program Service Revenue | $14,940,236 |
| Investment income | $303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,485 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,219,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,663,936 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,800,610 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,196,760 |
| Compensation of current officers, directors, key employees. | $232,675 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,610,227 |
| Pension plan accruals and contributions | $360,788 |
| Other employee benefits | $543,152 |
| Payroll taxes | $545,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,176 |
| Fees for services: Accounting | $90,628 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,112,452 |
| Advertising and promotion | $272,258 |
| Office expenses | $228,660 |
| Information technology | $773,123 |
| Royalties | $0 |
| Occupancy | $669,443 |
| Travel | $35,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,761 |
| Interest | $4,833 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,858 |
| Insurance | $66,984 |
| All other expenses | $911,317 |
| Total functional expenses | $102,941,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,398,993 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,636,430 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $65,824,710 |
| Prepaid expenses and deferred charges | $328,051 |
| Net Land, buildings, and equipment | $120,374 |
| Investments—publicly traded securities | $50,821 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $78,359,379 |
| Accounts payable and accrued expenses | $3,473,843 |
| Grants payable | $2,317,500 |
| Deferred revenue | $624,578 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,045,734 |
| Total liabilities | $8,461,655 |
| Net assets without donor restrictions | $60,485,524 |
| Net assets with donor restrictions | $9,412,200 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $78,359,379 |
Grants Awarded
Over the last fiscal year, First Book has awarded $31,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
San Francisco, CA PURPOSE: BOOKS TO CHILDREN | $21,000 |
Dallas, TX PURPOSE: BOOKS TO CHILDREN | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that First Book has recieved totaling $51,750.
| Awarding Organization | Amount |
|---|---|
Lawrence A Sanders Foundation Inc Boca Raton, FL PURPOSE: UNRESTRICTED DONATIONS | $35,000 |
Leslie Peter Foundation New York, NY PURPOSE: EDUCATION IS A CHILD'S BEST PATH OUT OF POVERTY | $10,000 |
Alice Shaver Foundation Williamstown, MA PURPOSE: CHARITABLE | $5,000 |
The Sambol Family Foundation Inc Juniper Inlet Colony, FL PURPOSE: PROGRAM OR PUBLIC SUPPORT | $1,000 |
Samuel And Tillie D Cheiffetz Foundation Inc Natick, MA PURPOSE: RAPE CRISIS CENTER | $500 |
Albright Foundation Edina, MN PURPOSE: CHARITABLE | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
First Book Washington, DC | $78,359,379 | $119,219,618 |
Literacy Lab Washington, DC | $23,333,778 | $29,239,466 |
Civic Works Inc Baltimore, MD | $12,483,552 | $12,764,474 |
Reading Is Fundamental Inc Washington, DC | $22,372,600 | $16,088,590 |
Congress Heights Community Training And Development Corporation Washington, DC | $6,347,487 | $3,189,279 |
The Washington Commanders Charitable Foundation Inc Ashburn, VA | $1,361,978 | $1,048,751 |
Free Minds Book Club & Writing Workshop Washington, DC | $2,522,184 | $2,082,941 |
We Need Diverse Books Bethesda, MD | $1,284,821 | $1,729,399 |
Reach Inc Norfolk, VA | $511,783 | $670,333 |
Ivymount at the Stevens School Inc Rockville, MD | $0 | $35 |
Virginia Literacy Foundation Richmond, VA | $674,835 | $577,726 |
Engaged Community Offshoots Riverdale, MD | $432,509 | $281,607 |