Firstworks
Firstworks: Strong Program Spending, but Transparency Lacking
EIN: 222597014 · Providence, RI · NTEE: A200 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $1.3M |
| Program Spending | 85% |
| Net Assets | $357K |
| Transparency Score | 85/100 |
Is Firstworks Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Firstworks directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Firstworks
Firstworks (EIN: 222597014) is a nonprofit organization based in Providence, RI, classified under NTEE code A200. The organization reported total revenue of $1.9M and total assets of $844K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Firstworks's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Firstworks is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.3M |
| Surplus / Deficit | +$12K |
| Total Assets | $877K |
| Total Liabilities | $520K |
| Net Assets | $357K |
| Operating Margin | 0.9% |
| Debt-to-Asset Ratio | 59.3% |
| Months of Reserves | 8.3 months |
Financial Health Grade: A
In 2023, Firstworks reported a surplus of $12K with revenue exceeding expenses, holds 8.3 months of operating reserves (strong position), has a debt-to-asset ratio of 59.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Firstworks's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -35.8% | -31.0% | +5.0% |
| 2022 | +82.2% | +94.3% | +9.0% |
| 2021 | +25.5% | +8.1% | +68.1% |
| 2020 | -41.7% | -41.0% | +33.1% |
| 2019 | +7.6% | +7.3% | +0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1985 |
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 Firstworks with a Mission Score of 85 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, Firstworks 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 $12K, with revenue exceeding expenses.
- Debt-to-asset ratio: 59.3%.
Executive Compensation Analysis
Executive compensation details are not readily available on the organization's website or in easily accessible public filings, making a comprehensive assessment challenging without deeper investigation into specific 990 forms.
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 Firstworks's IRS 990 filings:
- Lack of readily available detailed financial reports and 990s on the organization's website.
- No clear breakdown of program activities and associated costs on their website.
Strengths
The following positive indicators were identified for Firstworks:
- Consistently high percentage of expenses dedicated to programs (averaging 85% over the last three years).
- Healthy revenue growth in 2023, with revenues at $1,285,970, up from $1,099,379 in 2021.
- Positive net assets, indicating financial stability.
Frequently Asked Questions about Firstworks
Is Firstworks a legitimate charity?
Based on AI analysis of IRS 990 filings, Firstworks (EIN: 222597014) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Firstworks spend its money?
Firstworks directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Firstworks tax-deductible?
Firstworks is registered as a tax-exempt nonprofit (EIN: 222597014). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Firstworks's spending goes to programs?
Firstworks directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Firstworks compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Firstworks is above average for NTEE category A200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Firstworks located?
Firstworks is headquartered in Providence, Rhode Island and files with the IRS under EIN 222597014. It is classified under NTEE code A200.
How many years of IRS 990 filings does Firstworks have?
Firstworks 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 $1.9M in total revenue.
What does Firstworks do?
Firstworks is a nonprofit organization in the Arts, Culture & Humanities sector, located in Providence, Rhode Island. It is classified under NTEE code A200.
How much revenue does Firstworks have?
Firstworks reported total revenue of $1,880,564. Based on 13 IRS 990 filings on record.
What are Firstworks's total assets?
Firstworks holds total assets of $843,653 as reported in IRS 990 filings.
Where is Firstworks located?
Firstworks is based in Providence, Rhode Island.
What is Firstworks's EIN?
Firstworks's Employer Identification Number (EIN) is 222597014. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Firstworks?
Firstworks is classified under NTEE code A200 (Arts, Culture & Humanities).
Is Firstworks a registered 501(c)(3)?
Yes, Firstworks is recognized as a tax-exempt organization by the IRS. EIN: 222597014.
Does Firstworks file IRS Form 990?
Yes, Firstworks has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Firstworks's revenue in 2023?
In the 202306 filing period, Firstworks reported total revenue of $1,285,970, total expenses of $1,273,782, and net assets of $876,541.
Is Firstworks's revenue growing or declining?
Firstworks's revenue is declining. Revenue went from $2,002,777 (202206) to $1,285,970 (202306), a -35.8% change. Based on 13 filings on record.
What is Firstworks's most recent 990 filing?
The most recent IRS Form 990 filing for Firstworks covers tax period 202306. It shows revenue of $1,285,970, expenses of $1,273,782, total assets of $876,541, and liabilities of $519,610.
How much does Firstworks spend on programs vs administration?
Based on IRS 990 analysis, Firstworks allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Firstworks a trustworthy charity?
Based on AI analysis of IRS 990 data, Firstworks appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Firstworks?
The following concerns were identified: Lack of readily available detailed financial reports and 990s on the organization's website.. No clear breakdown of program activities and associated costs on their website.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Firstworks's strengths?
Positive indicators for Firstworks include: Consistently high percentage of expenses dedicated to programs (averaging 85% over the last three years).. Healthy revenue growth in 2023, with revenues at $1,285,970, up from $1,099,379 in 2021.. Positive net assets, indicating financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Firstworks compensate executives?
Executive compensation details are not readily available on the organization's website or in easily accessible public filings, making a comprehensive assessment challenging without deeper investigation into specific 990 forms. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does Firstworks ensure its program spending directly aligns with its mission given the lack of detailed program breakdowns on its public platforms?
Without specific program details on their website, it's challenging for donors to understand the direct impact of their contributions. While the high program spending percentage is positive, more granular reporting would enhance donor confidence and accountability.
What steps is Firstworks taking to improve its financial transparency and accessibility of information for the public and potential donors?
The current lack of direct access to financial documents and detailed program information on their website suggests an area for improvement. Implementing a dedicated 'Financials' or 'Transparency' section with 990s and program reports would significantly enhance public trust and engagement.
Filing History
IRS 990 filing history for Firstworks showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Firstworks's revenue has grown by 67.9%, moving from $766K to $1.3M. Total assets increased by 489.8% over the same period, from $149K to $877K. Total functional expenses rose by 67.7%, from $760K to $1.3M. In its most recent filing year (2023), Firstworks reported a surplus of $12K, with revenue exceeding expenses. The organization holds $520K in liabilities against $877K in assets (debt-to-asset ratio: 59.3%), resulting in net assets of $357K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.3M | $877K | $520K | — | View 990 |
| 2022 | $2.0M | $1.8M | $835K | $490K | — | View 990 |
| 2021 | $1.1M | $949K | $766K | $579K | — | View 990 |
| 2020 | $876K | $879K | $456K | $419K | — | View 990 |
| 2019 | $1.5M | $1.5M | $342K | $302K | — | View 990 |
| 2018 | $1.4M | $1.4M | $341K | $315K | — | View 990 |
| 2017 | $1.3M | $1.3M | $257K | $240K | — | View 990 |
| 2016 | $1.3M | $1.4M | $219K | $220K | — | View 990 |
| 2015 | $1.3M | $1.2M | $303K | $220K | — | View 990 |
| 2014 | $857K | $856K | $143K | $98K | — | View 990 |
| 2013 | $786K | $784K | $200K | $157K | — | View 990 |
| 2012 | $686K | $774K | $211K | $171K | — | View 990 |
| 2011 | $766K | $760K | $149K | $21K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.3M, and assets of $877K (revenue -35.8% year-over-year).
- 2022: Revenue of $2.0M, expenses of $1.8M, and assets of $835K (revenue +82.2% year-over-year).
- 2021: Revenue of $1.1M, expenses of $949K, and assets of $766K (revenue +25.5% year-over-year).
- 2020: Revenue of $876K, expenses of $879K, and assets of $456K (revenue -41.7% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.5M, and assets of $342K (revenue +7.6% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.4M, and assets of $341K (revenue +5.5% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.3M, and assets of $257K (revenue +4.1% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.4M, and assets of $219K (revenue +-0.0% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.2M, and assets of $303K (revenue +48.4% year-over-year).
- 2014: Revenue of $857K, expenses of $856K, and assets of $143K (revenue +9.0% year-over-year).
- 2013: Revenue of $786K, expenses of $784K, and assets of $200K (revenue +14.6% year-over-year).
- 2012: Revenue of $686K, expenses of $774K, and assets of $211K (revenue -10.5% year-over-year).
- 2011: Revenue of $766K, expenses of $760K, and assets of $149K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Firstworks:
Data Sources and Methodology
This transparency report for Firstworks 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.