Ferst Readers Inc
- Assets
- $2.4m
- Revenue
- $2.4m
- Investments
- $1.9m
- Employees
- 14
- Location
- Madison, GA
- Founding
- 07/1999
- Data as of
- 12/2021
- EIN
- 58-2489181
Organization Overview
Ferst Readers Inc is located in Madison, GA. The organization was established in 1999. According to its NTEE Classification (P58) the organization is classified as: Gift Distribution, under the broad grouping of Human Services and related organizations. As of 12/2021, Ferst Readers Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ferst Readers Inc 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, Ferst Readers Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 10.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
STRENGTHENING COMMUNITIES BY PROVIDING QUALITY BOOKS AND LITERACY RESOURCES FOR CHILDREN AND THEIR FAMILIES TO USE AT HOME DURING THE EARLIEST STAGES OF DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILDREN, BIRTH TO FIVE, WHO PARTICIPATE IN THE FERST READERS PROGRAM RECEIVE A FREE, AGE-APPROPRIATE BOOK EVERY MONTH IN THE MAIL ALONG WITH LITERACY SUPPORT RESOURCES FOR PARENTS THAT HELP CREATE A LANGUAGE-RICH ENVIRONMENT IN THE HOME. THE FERST READERS PROGRAM INCREASES CHILDREN'S ACCESS TO PRINT AND EARLY LANGUAGE EXPERIENCES SO THAT THEY HAVE THE BEST CHANCE OF ENTERING SCHOOL WITH THE SKILLS NECESSARY TO SUCCEED. COMMUNITY ACTION TEAMS, COMPRISED OF DEDICATED VOLUNTEERS, IMPLEMENT THE PROGRAM AT THE LOCAL LEVEL BY RAISING FUNDS, REGISTERING CHILDREN AND PARTNERING WITH OTHER ORGANIZATIONS TO RAISE AWARENESS AROUND THE EARLY LITERACY ISSUE. PARTNER ACTION TEAMS ARE DIRECT FUNDERS WHO CHOOSE TO SUPPORT A SPECIFIC GROUP OF CHILDREN FOR PROGRAM ENROLLMENT. THE FERST READERS PROGRAM SERVED 56,935 CHILDREN DURING 2021 AND TO DATE HAS MAILED MORE THAN 7 MILLION BOOKS.
FERST READERS ADMINISTERS THE GEORGIA RURAL LIBRARIES INITIATIVE WHICH PROVIDES MULTI-YEAR GRANTS TO TWO COUNTY LIBRARIES IN RURAL COMMUNITIES IN GEORGIA. THESE GRANTS SERVE TO ENHANCE THE AVAILABILITY OF EARLY CHILDHOOD LEARNING RESOURCES IN RURAL COMMUNITIES PRIMARILY THROUGH EXISTING PUBLIC LIBRARIES. FERST READERS SERVES AS FISCAL AGENT FOR GRANTS PROVIDED THROUGH THE GREATER ATLANTA COMMUNITY FOUNDATION FROM AN ANONYMOUS DONOR.
FERST READERS SERVES AS THE FISCAL AGENT FOR TOOMBS COUNTY FAMILY CONNECTION/GET TOOMBS COUNTY READING CAMPAIGN, A LOCAL COLLABORATION THAT SUPPORTS THE STATEWIDE "GET GEORGIA READING" CAMPAIGN, THROUGH GRANTS FROM THE LITERACY FOR ALL FUND. THE GTCRC PROVIDES A VARIETY OF LITERACY-RELATED SERVICES TO CHILDREN AND ADULTS IN TOOMBS COUNTY INCLUDING THE FERST READERS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Davida Morgan-Washington President / CEO | Officer | 40 | $103,238 |
Warren Steele Treasurer | OfficerTrustee | 8 | $0 |
Lauri Strauss Secretary | OfficerTrustee | 6 | $0 |
Errika Moore Chair | OfficerTrustee | 10 | $0 |
Dr Stan Dejarnett Board Member | Trustee | 2 | $0 |
Kate Hall Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $341,155 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,835,594 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,176,749 |
| Total Program Service Revenue | $0 |
| Investment income | $49,283 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,252 |
| Net Income from Fundraising Events | $100,254 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,368,538 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $155,029 |
| Compensation of current officers, directors, key employees. | $31,040 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $326,998 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $36,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,291 |
| Office expenses | $8,869 |
| Information technology | $53,473 |
| Royalties | $0 |
| Occupancy | $11,119 |
| Travel | $7,317 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,825 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,320 |
| Insurance | $2,347 |
| All other expenses | $35,856 |
| Total functional expenses | $1,998,344 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $330,701 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,404 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $106,938 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,721 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,905,205 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $70,152 |
| Total assets | $2,420,121 |
| Accounts payable and accrued expenses | $107,875 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,190 |
| 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 | $0 |
| Total liabilities | $114,065 |
| Net assets without donor restrictions | $582,878 |
| Net assets with donor restrictions | $1,723,178 |
| 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 | $2,420,121 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ferst Readers Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Coastal Emc Foundation Inc Midway, GA PURPOSE: COMMUNITY ASSISTANCE | $9,000 |
Shelby And Wanda Amos Foundationinc Columbus, GA PURPOSE: PUBLIC CHARITY | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Womans Missionary Union Foundation Birmingham, AL | $53,441,982 | $5,264,026 |
Walton Electric Trust Inc Monroe, GA | $5,022,901 | $2,337,063 |
The Empty Stocking Fund Inc Atlanta, GA | $3,409,829 | $2,169,289 |
Ferst Readers Inc Madison, GA | $2,420,121 | $2,368,538 |
Kramden Institute Inc Durham, NC | $4,737,614 | $3,356,768 |
Kid One Transport System Inc Birmingham, AL | $744,962 | $1,420,128 |
Margaret And Jack Tarver Family Foundation Orlando, FL | $14,491,968 | $1,093,258 |
A Soldiers Child Inc Murfreesboro, TN | $854,539 | $1,143,994 |
Lions Pride Foundation Inc Salisbury, NC | $2,186,624 | $85,831 |
Carolands Preservation Foundation Palm Beach, FL | $1,817,806 | $807,126 |
Edward D And Anna Mitchell Family Foundation A Delaware Corp Sarasota, FL | $5,062,154 | $357,034 |
Creating Connected Communities Atlanta, GA | $683,448 | $909,666 |