First Founders Assurance Company
First Founders Assurance Company consistently maintains financial surplus and growing assets with no reported officer compensation.
EIN: 201384826 · Chester, NJ · NTEE: G81 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.4M |
| Total Expenses | $293K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $7,897,620 |
| Net Assets | $6.1M |
| Transparency Score | 92/100 |
Is First Founders Assurance Company Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
First Founders Assurance Company directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About First Founders Assurance Company
First Founders Assurance Company (EIN: 201384826) is a nonprofit organization based in Chester, NJ, classified under NTEE code G81. The organization reported total revenue of $1.4M and total assets of $7.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of First Founders Assurance Company's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
First Founders Assurance Company is a mid-size nonprofit that has been operating for 16 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $562K |
| Total Expenses | $293K |
| Surplus / Deficit | +$270K |
| Total Assets | $7.9M |
| Total Liabilities | $1.7M |
| Net Assets | $6.1M |
| Operating Margin | 48.0% |
| Debt-to-Asset Ratio | 22.1% |
| Months of Reserves | 323.9 months |
Financial Health Grade: A
In 2023, First Founders Assurance Company reported a surplus of $270K with revenue exceeding expenses, holds 323.9 months of operating reserves (strong position), has a debt-to-asset ratio of 22.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), First Founders Assurance Company's revenue has grown at a compound annual growth rate (CAGR) of 0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.8% | -7.4% | +3.5% |
| 2022 | +8.9% | +0.2% | +9.0% |
| 2021 | +0.5% | -15.8% | +4.9% |
| 2020 | -4.3% | +27.4% | +3.6% |
| 2019 | -4.9% | -7.4% | +6.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2010 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates First Founders Assurance Company with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, First Founders Assurance Company allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $270K, with revenue exceeding expenses.
- Debt-to-asset ratio: 22.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not compensated, which is highly unusual for an organization of this asset size ($7,897,620) and revenue ($1,446,808 latest). This suggests a volunteer-led executive structure, significantly reducing administrative costs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of First Founders Assurance Company's IRS 990 filings:
- Unusually low reported expenses relative to revenue, potentially indicating underreporting or a highly specialized, low-overhead operational model that warrants further investigation.
- 0% officer compensation across all filings for an organization with significant assets and revenue, which is atypical and could suggest alternative compensation structures not captured or a fully volunteer-run executive team.
Strengths
The following positive indicators were identified for First Founders Assurance Company:
- Consistent financial surplus, with revenues regularly exceeding expenses (e.g., $562,255 revenue vs. $292,635 expenses in 2023).
- Strong asset growth, increasing from $4,692,988 in 2014 to $7,897,620 in 2023.
- No reported officer compensation, indicating a highly efficient use of funds and potentially a volunteer-driven leadership.
- Long history of consistent IRS 990 filings (13 filings), demonstrating strong transparency and compliance.
- Healthy asset-to-liability ratio, with assets of $7,897,620 significantly exceeding liabilities of $1,747,737 in 2023.
Frequently Asked Questions about First Founders Assurance Company
Is First Founders Assurance Company a legitimate charity?
First Founders Assurance Company (EIN: 201384826) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.4M. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does First Founders Assurance Company spend its money?
First Founders Assurance Company directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to First Founders Assurance Company tax-deductible?
First Founders Assurance Company is registered as a tax-exempt nonprofit (EIN: 201384826). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the First Founders Assurance Company CEO make?
First Founders Assurance Company's highest-compensated officer earns $7,897,620 annually. The organization reported $1.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of First Founders Assurance Company's spending goes to programs?
First Founders Assurance Company directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does First Founders Assurance Company compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), First Founders Assurance Company is above average for NTEE category G81 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is First Founders Assurance Company located?
First Founders Assurance Company is headquartered in Chester, New Jersey and files with the IRS under EIN 201384826. It is classified under NTEE code G81.
How many years of IRS 990 filings does First Founders Assurance Company have?
First Founders Assurance Company has 13 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 $1.4M in total revenue.
Is First Founders Assurance Company financially stable?
Yes, the organization is financially stable, consistently reporting revenues exceeding expenses and growing its assets from $4,692,988 in 2014 to $7,897,620 in 2023.
How does First Founders Assurance Company manage executive compensation?
First Founders Assurance Company reports 0% officer compensation across all 13 available filings, indicating that its executive leadership is uncompensated.
What is the trend in the organization's assets?
The organization's assets have shown consistent growth, increasing from $4,692,988 in 2014 to $7,897,620 in 2023, demonstrating strong financial accumulation.
Does the organization spend efficiently?
Yes, the organization appears to spend efficiently, consistently maintaining a positive revenue-to-expense ratio and growing its asset base without incurring officer compensation.
Filing History
IRS 990 filing history for First Founders Assurance Company showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), First Founders Assurance Company's revenue has grown by 3.5%, moving from $543K to $562K. Total assets increased by 119.1% over the same period, from $3.6M to $7.9M. Total functional expenses fell by 6.8%, from $314K to $293K. In its most recent filing year (2023), First Founders Assurance Company reported a surplus of $270K, with revenue exceeding expenses. The organization holds $1.7M in liabilities against $7.9M in assets (debt-to-asset ratio: 22.1%), resulting in net assets of $6.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $562K | $293K | $7.9M | $1.7M | — | — |
| 2022 | $584K | $316K | $7.6M | $1.8M | — | — |
| 2021 | $536K | $315K | $7.0M | $1.4M | — | View 990 |
| 2020 | $534K | $374K | $6.7M | $1.3M | — | View 990 |
| 2019 | $558K | $294K | $6.4M | $1.2M | — | View 990 |
| 2018 | $587K | $317K | $6.0M | $1.2M | — | View 990 |
| 2017 | $563K | $334K | $5.6M | $995K | — | View 990 |
| 2016 | $562K | $304K | $5.3M | $904K | — | View 990 |
| 2015 | $560K | $389K | $4.9M | $838K | — | View 990 |
| 2014 | $569K | $340K | $4.7M | $762K | — | View 990 |
| 2013 | $592K | $330K | $4.4M | $753K | — | View 990 |
| 2012 | $591K | $352K | $4.0M | $602K | — | View 990 |
| 2011 | $543K | $314K | $3.6M | $528K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $562K, expenses of $293K, and assets of $7.9M (revenue -3.8% year-over-year).
- 2022: Revenue of $584K, expenses of $316K, and assets of $7.6M (revenue +8.9% year-over-year).
- 2021: Revenue of $536K, expenses of $315K, and assets of $7.0M (revenue +0.5% year-over-year).
- 2020: Revenue of $534K, expenses of $374K, and assets of $6.7M (revenue -4.3% year-over-year).
- 2019: Revenue of $558K, expenses of $294K, and assets of $6.4M (revenue -4.9% year-over-year).
- 2018: Revenue of $587K, expenses of $317K, and assets of $6.0M (revenue +4.2% year-over-year).
- 2017: Revenue of $563K, expenses of $334K, and assets of $5.6M (revenue +0.2% year-over-year).
- 2016: Revenue of $562K, expenses of $304K, and assets of $5.3M (revenue +0.4% year-over-year).
- 2015: Revenue of $560K, expenses of $389K, and assets of $4.9M (revenue -1.7% year-over-year).
- 2014: Revenue of $569K, expenses of $340K, and assets of $4.7M (revenue -3.9% year-over-year).
- 2013: Revenue of $592K, expenses of $330K, and assets of $4.4M (revenue +0.2% year-over-year).
- 2012: Revenue of $591K, expenses of $352K, and assets of $4.0M (revenue +8.9% year-over-year).
- 2011: Revenue of $543K, expenses of $314K, and assets of $3.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for First Founders Assurance Company:
Data Sources and Methodology
This transparency report for First Founders Assurance Company 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.