Is Firstspark Inc Legit?

Quick charity verification for Firstspark Inc (EIN: 201421876)

Verdict: Firstspark Inc appears trustworthy

90/100Mission Score

$5.3MRevenue

$1.2MAssets

2Red Flags

4Strengths

Red Flags

Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data prevents granular spending efficiency analysis.
0% officer compensation across all filings is highly unusual and warrants further investigation into how executive leadership is compensated or structured.

Strengths

Consistent and significant revenue growth, from $679,484 in 2014 to $4,163,135 in 2023.
Strong financial management, consistently operating with a surplus in most years (e.g., $99,024 surplus in 2023).
Healthy asset growth, increasing from $223,462 in 2014 to $1,238,392 currently.
Low liabilities relative to assets, indicating good financial stability (e.g., $464,087 liabilities vs. $1,161,698 assets in 2023).

Spending Breakdown

How Firstspark Inc allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Firstspark Inc

Is Firstspark Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Firstspark Inc (EIN: 201421876) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.

Is Firstspark Inc a good charity to donate to?

Firstspark Inc has a Mission Score of 90/100. Revenue: $5.3M. Assets: $1.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Firstspark Inc?

The Employer Identification Number (EIN) for Firstspark Inc is 201421876. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Firstspark Inc spend its money?

Firstspark Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Firstspark Inc's tax-exempt status?

You can verify Firstspark Inc's tax-exempt status using EIN 201421876 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Firstspark Inc demonstrates strong financial health and growth, with revenue increasing significantly from $679,484 in 2014 to $4,163,135 in 2023, and latest reported revenue at $5,262,883. The organization consistently manages its expenses below its revenue, indicating sound financial management and a surplus for reinvestment or reserves. For instance, in 2023, expenses were $4,064,111 against revenues of $4,163,135, resulting in a surplus of nearly $100,000. This trend of positive net income is observed across most years, contributing to a healthy growth in assets from $223,462 in 2014 to $1,238,392 currently.

The organization's spending efficiency appears robust, as evidenced by the consistent generation of surpluses. While specific program, administrative, and fundraising expense breakdowns are not provided in the raw data, the overall financial picture suggests effective resource utilization. The absence of reported officer compensation across all filings is a notable aspect of its financial structure, potentially indicating a volunteer-led executive team or compensation being reported under other categories, which warrants further investigation for complete transparency. However, based on the provided data, it suggests a lean operational model at the executive level.

Transparency regarding executive compensation is high, with 0% reported officer compensation across all available filings. This indicates either a fully volunteer executive board or that executive salaries are categorized differently, which would require deeper scrutiny of the full 990 forms. The consistent growth in assets and revenue, coupled with controlled liabilities, points to a well-managed and financially stable organization. The organization's NTEE code B21 (Elementary & Secondary Education) suggests its mission is focused on education, and the financial growth indicates an expanding capacity to fulfill this mission.

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Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.