Firstspark Inc
Firstspark Inc shows consistent revenue growth and strong financial management with no reported officer compensation.
EIN: 201421876 · Newport News, VA · NTEE: B21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.3M |
| Total Expenses | $4.1M |
| Program Spending | 85% |
| Net Assets | $698K |
| Transparency Score | 90/100 |
Is Firstspark Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Firstspark Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Firstspark Inc
Firstspark Inc (EIN: 201421876) is a nonprofit organization based in Newport News, VA, classified under NTEE code B21. The organization reported total revenue of $5.3M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Firstspark Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Firstspark Inc is a mid-size nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 21.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $4.1M |
| Surplus / Deficit | +$99K |
| Total Assets | $1.2M |
| Total Liabilities | $464K |
| Net Assets | $698K |
| Operating Margin | 2.4% |
| Debt-to-Asset Ratio | 39.9% |
| Months of Reserves | 3.4 months |
Financial Health Grade: A
In 2023, Firstspark Inc reported a surplus of $99K with revenue exceeding expenses, holds 3.4 months of operating reserves (adequate), has a debt-to-asset ratio of 39.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Firstspark Inc's revenue has grown at a compound annual growth rate (CAGR) of 21.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +110.5% | +116.2% | +48.9% |
| 2022 | -29.8% | -26.0% | +3.0% |
| 2021 | +216.8% | +169.8% | +109.4% |
| 2020 | -9.4% | -1.8% | -2.4% |
| 2019 | +17.5% | +19.8% | +23.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Firstspark Inc with a Mission Score of 90 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, Firstspark Inc 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 $99K, with revenue exceeding expenses.
- Debt-to-asset ratio: 39.9%.
Executive Compensation Analysis
Firstspark Inc reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and revenue, suggesting either a fully volunteer executive leadership or that compensation is reported under other expense categories.
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 Firstspark Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Firstspark Inc:
- 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).
Frequently Asked Questions about Firstspark Inc
Is Firstspark Inc a legitimate charity?
Firstspark Inc (EIN: 201421876) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.3M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Firstspark Inc spend its money?
Firstspark Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Firstspark Inc tax-deductible?
Firstspark Inc is registered as a tax-exempt nonprofit (EIN: 201421876). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Firstspark Inc's spending goes to programs?
Firstspark Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Firstspark Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Firstspark Inc is above average for NTEE category B21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Firstspark Inc located?
Firstspark Inc is headquartered in Newport News, Virginia and files with the IRS under EIN 201421876. It is classified under NTEE code B21.
How many years of IRS 990 filings does Firstspark Inc have?
Firstspark Inc 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 $5.3M in total revenue.
How does Firstspark Inc manage to operate without reporting any officer compensation?
The IRS 990 filings consistently show 0% officer compensation. This could mean the executive leadership is entirely volunteer-based, or their compensation is reported under different expense lines, which would require reviewing the full 990 forms for detailed functional expense breakdowns.
What is the specific NTEE code B21 for Firstspark Inc?
NTEE code B21 corresponds to 'Elementary & Secondary Education', indicating that Firstspark Inc's primary mission is focused on educational programs for children and adolescents.
Has Firstspark Inc experienced any financial deficits?
While most years show a surplus, the period 202006 reported expenses of $941,713 against revenues of $889,385, indicating a minor deficit of $52,328 in that year. However, this was an anomaly amidst consistent surpluses.
How has Firstspark Inc's asset base grown over time?
Firstspark Inc has shown significant asset growth, from $223,462 in 2014 to $1,238,392 currently, reflecting strong financial health and accumulation of resources.
Filing History
IRS 990 filing history for Firstspark Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Firstspark Inc's revenue has grown by 888.4%, moving from $421K to $4.2M. Total assets increased by 480.3% over the same period, from $200K to $1.2M. Total functional expenses rose by 793.7%, from $455K to $4.1M. In its most recent filing year (2023), Firstspark Inc reported a surplus of $99K, with revenue exceeding expenses. The organization holds $464K in liabilities against $1.2M in assets (debt-to-asset ratio: 39.9%), resulting in net assets of $698K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $4.1M | $1.2M | $464K | — | View 990 |
| 2022 | $2.0M | $1.9M | $780K | $181K | — | View 990 |
| 2021 | $2.8M | $2.5M | $758K | $256K | — | View 990 |
| 2020 | $889K | $942K | $362K | $137K | — | View 990 |
| 2019 | $981K | $959K | $371K | $94K | — | View 990 |
| 2018 | $835K | $800K | $301K | $48K | — | View 990 |
| 2017 | $627K | $609K | $256K | $39K | — | View 990 |
| 2016 | $715K | $722K | $253K | $54K | — | View 990 |
| 2015 | $686K | $655K | $231K | $25K | — | View 990 |
| 2014 | $679K | $649K | $223K | $49K | — | View 990 |
| 2013 | $420K | $364K | $160K | $16K | — | View 990 |
| 2012 | $398K | $358K | $99K | $10K | — | View 990 |
| 2011 | $421K | $455K | $200K | $152K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $4.1M, and assets of $1.2M (revenue +110.5% year-over-year).
- 2022: Revenue of $2.0M, expenses of $1.9M, and assets of $780K (revenue -29.8% year-over-year).
- 2021: Revenue of $2.8M, expenses of $2.5M, and assets of $758K (revenue +216.8% year-over-year).
- 2020: Revenue of $889K, expenses of $942K, and assets of $362K (revenue -9.4% year-over-year).
- 2019: Revenue of $981K, expenses of $959K, and assets of $371K (revenue +17.5% year-over-year).
- 2018: Revenue of $835K, expenses of $800K, and assets of $301K (revenue +33.1% year-over-year).
- 2017: Revenue of $627K, expenses of $609K, and assets of $256K (revenue -12.3% year-over-year).
- 2016: Revenue of $715K, expenses of $722K, and assets of $253K (revenue +4.2% year-over-year).
- 2015: Revenue of $686K, expenses of $655K, and assets of $231K (revenue +1.0% year-over-year).
- 2014: Revenue of $679K, expenses of $649K, and assets of $223K (revenue +62.0% year-over-year).
- 2013: Revenue of $420K, expenses of $364K, and assets of $160K (revenue +5.3% year-over-year).
- 2012: Revenue of $398K, expenses of $358K, and assets of $99K (revenue -5.4% year-over-year).
- 2011: Revenue of $421K, expenses of $455K, and assets of $200K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Firstspark Inc:
Data Sources and Methodology
This transparency report for Firstspark 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.