First Contact Ministries Inc
EIN: 474399326 · Hendersonvlle, NC · NTEE: F50
| Metric | Value |
|---|---|
| Total Revenue | $461K |
| Total Expenses | $756K |
| Net Assets | $1.6M |
Is First Contact Ministries Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About First Contact Ministries Inc
First Contact Ministries Inc (EIN: 474399326) is a nonprofit organization based in Hendersonvlle, NC, classified under NTEE code F50. The organization reported total revenue of $461K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of First Contact Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
First Contact Ministries Inc is a small nonprofit that has been operating for 10 years, with 8 years of IRS 990 filings on record (2016–2023). Revenue has grown at a compound annual rate of 42.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $436K |
| Total Expenses | $756K |
| Surplus / Deficit | $-319,610 |
| Total Assets | $1.6M |
| Total Liabilities | $3K |
| Net Assets | $1.6M |
| Operating Margin | -73.3% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 24.7 months |
Financial Health Grade: B
In 2023, First Contact Ministries Inc reported a deficit of $320K with expenses exceeding revenue, holds 24.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 8 years of filings (2016–2023), First Contact Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 42.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -81.3% | +58.2% | -17.2% |
| 2022 | +619.5% | +48.1% | +5613.8% |
| 2021 | -21.7% | -22.0% | +55.9% |
| 2020 | +9.2% | -6.0% | +5.6% |
| 2019 | -14.0% | +9.2% | -74.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for First Contact Ministries Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates First Contact Ministries Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $320K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Frequently Asked Questions about First Contact Ministries Inc
Is First Contact Ministries Inc a legitimate charity?
First Contact Ministries Inc (EIN: 474399326) is a registered tax-exempt nonprofit based in North Carolina. It has 8 years of IRS 990 filings on record. Total revenue: $461K. No red flags identified. Financial health grade: B.
How does First Contact Ministries Inc spend its money?
First Contact Ministries Inc reported $461K in total revenue in IRS 990 filings. 8 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to First Contact Ministries Inc tax-deductible?
First Contact Ministries Inc is registered as a tax-exempt nonprofit (EIN: 474399326). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is First Contact Ministries Inc located?
First Contact Ministries Inc is headquartered in Hendersonvlle, North Carolina and files with the IRS under EIN 474399326. It is classified under NTEE code F50.
How many years of IRS 990 filings does First Contact Ministries Inc have?
First Contact Ministries Inc has 8 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $461K in total revenue.
Filing History
IRS 990 filing history for First Contact Ministries Inc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2016–2023), First Contact Ministries Inc's revenue has grown by 1077.3%, moving from $37K to $436K. Total assets increased by 5212.5% over the same period, from $29K to $1.6M. Total functional expenses rose by 9612.5%, from $8K to $756K. In its most recent filing year (2023), First Contact Ministries Inc reported a deficit of $320K, with expenses exceeding revenue. The organization holds $3K in liabilities against $1.6M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $436K | $756K | $1.6M | $3K | — | View 990 |
| 2022 | $2.3M | $478K | $1.9M | $7K | — | — |
| 2021 | $324K | $323K | $33K | $17K | — | View 990 |
| 2020 | $414K | $414K | $21K | $6K | — | View 990 |
| 2019 | $379K | $440K | $20K | $6K | — | View 990 |
| 2018 | $441K | $403K | $80K | $4K | — | View 990 |
| 2017 | $170K | $162K | $42K | $4K | — | View 990 |
| 2016 | $37K | $8K | $29K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $436K, expenses of $756K, and assets of $1.6M (revenue -81.3% year-over-year).
- 2022: Revenue of $2.3M, expenses of $478K, and assets of $1.9M (revenue +619.5% year-over-year).
- 2021: Revenue of $324K, expenses of $323K, and assets of $33K (revenue -21.7% year-over-year).
- 2020: Revenue of $414K, expenses of $414K, and assets of $21K (revenue +9.2% year-over-year).
- 2019: Revenue of $379K, expenses of $440K, and assets of $20K (revenue -14.0% year-over-year).
- 2018: Revenue of $441K, expenses of $403K, and assets of $80K (revenue +159.1% year-over-year).
- 2017: Revenue of $170K, expenses of $162K, and assets of $42K (revenue +359.5% year-over-year).
- 2016: Revenue of $37K, expenses of $8K, and assets of $29K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for First Contact Ministries Inc:
Data Sources and Methodology
This transparency report for First Contact Ministries Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.