The First Source For Women Inc

The First Source For Women Inc consistently reports 0% officer compensation but has recently faced deficits with expenses exceeding revenue.

EIN: 205659416 · Hanceville, AL · NTEE: P40 · Updated: 2026-03-28

$369KRevenue

$193KAssets

80/100Mission Score (Excellent)

P40

About The First Source For Women Inc

The First Source For Women Inc (EIN: 205659416) is a nonprofit organization based in Hanceville, AL, classified under NTEE code P40. The organization reported total revenue of $369K and total assets of $193K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The First Source For Women Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The First Source For Women Inc demonstrates a consistent commitment to its mission, as evidenced by its program spending. While specific breakdowns for administrative and fundraising costs are not provided in the summary data, the organization has reported 0% officer compensation across all available filings, which is a strong indicator of efficient use of funds at the leadership level and a commitment to directing resources towards programs. However, the organization has experienced periods where expenses exceeded revenue, notably in 2023 ($425,036 expenses vs. $322,982 revenue) and 2022 ($318,399 expenses vs. $250,610 revenue), which could indicate reliance on reserves or prior year surpluses. The organization's assets have fluctuated, reaching a high of $317,496 in 2021 before decreasing to $265,056 in 2023, while liabilities have also varied, peaking at $117,403 in 2023. This suggests a need for careful financial management to maintain long-term stability, especially given the recent trend of expenses exceeding revenue. The lack of reported officer compensation is a significant positive for transparency and efficiency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates The First Source For Women Inc with a Mission Score of 80 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, The First Source For Women 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers. This is a highly positive sign for financial efficiency and ensures that donor funds are not used for executive salaries.

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 The First Source For Women Inc's IRS 990 filings:

Expenses exceeded revenue in 2023 ($425,036 vs. $322,982) and 2022 ($318,399 vs. $250,610), indicating potential financial strain or reliance on reserves.
Significant increase in liabilities to $117,403 in 2023, which warrants further investigation into its nature.

Strengths

The following positive indicators were identified for The First Source For Women Inc:

Consistent reporting of 0% officer compensation across all filings, demonstrating strong financial efficiency at the leadership level.
Long filing history (11 filings) indicates sustained operation and compliance.
Growth in revenue over the long term, from $77,603 in 2014 to $322,982 in 2023, despite recent deficits.

Frequently Asked Questions about The First Source For Women Inc

How does The First Source For Women Inc cover its expenses when they exceed revenue, as seen in 2023 and 2022?

The organization likely covers these deficits by drawing from accumulated reserves or prior year surpluses, as indicated by the fluctuation in assets and the increase in liabilities in 2023.

What is the specific breakdown of program, administrative, and fundraising expenses?

While the provided data does not offer a detailed breakdown, the consistent 0% officer compensation suggests a strong focus on program efficiency and minimal administrative overhead at the leadership level. A full 990 form would provide this detail.

What caused the significant increase in liabilities to $117,403 in 2023?

The provided summary data does not specify the nature of these liabilities. This could be due to various factors such as deferred revenue, accounts payable, or short-term loans. Further investigation of the full 990 form for 2023 would be necessary to understand this increase.

Filing History

IRS 990 filing history for The First Source For Women Inc showing financial trends over 11 years of public records:

Over 11 years of IRS 990 filings (2013–2023), The First Source For Women Inc's revenue has grown by 268%, moving from $88K to $323K. Total assets increased by 716.6% over the same period, from $32K to $265K. Total functional expenses rose by 569.8%, from $63K to $425K. In its most recent filing year (2023), The First Source For Women Inc reported a deficit of $102K, with expenses exceeding revenue. The organization holds $117K in liabilities against $265K in assets (debt-to-asset ratio: 44.3%), resulting in net assets of $148K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$323K	$425K	$265K	$117K	—	—
2022	$251K	$318K	$250K	$0	—	—
2021	$370K	$204K	$317K	$0	—	View 990
2020	$164K	$149K	$153K	$1K	—	—
2019	$147K	$182K	$121K	$448	—	View 990
2018	$164K	$205K	$160K	$4K	—	View 990
2017	$186K	$114K	$199K	$2K	—	View 990
2016	$145K	$91K	$125K	$1K	—	View 990
2015	$95K	$72K	$71K	$563	—	View 990
2014	$78K	$62K	$48K	$0	—	View 990
2013	$88K	$63K	$32K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $323K, expenses of $425K, and assets of $265K (revenue +28.9% year-over-year).
2022: Revenue of $251K, expenses of $318K, and assets of $250K (revenue -32.2% year-over-year).
2021: Revenue of $370K, expenses of $204K, and assets of $317K (revenue +125.3% year-over-year).
2020: Revenue of $164K, expenses of $149K, and assets of $153K (revenue +11.9% year-over-year).
2019: Revenue of $147K, expenses of $182K, and assets of $121K (revenue -10.6% year-over-year).
2018: Revenue of $164K, expenses of $205K, and assets of $160K (revenue -12.0% year-over-year).
2017: Revenue of $186K, expenses of $114K, and assets of $199K (revenue +29.0% year-over-year).
2016: Revenue of $145K, expenses of $91K, and assets of $125K (revenue +52.5% year-over-year).
2015: Revenue of $95K, expenses of $72K, and assets of $71K (revenue +22.1% year-over-year).
2014: Revenue of $78K, expenses of $62K, and assets of $48K (revenue -11.6% year-over-year).
2013: Revenue of $88K, expenses of $63K, and assets of $32K.

Data Sources and Methodology

This transparency report for The First Source For Women 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.