Civic Intelligence

First Book

990 • Fiscal year 2014 • EIN 52-1779606

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 04, 2015

1319 F Street NWRoom/Suite 1000Washington, DC 20004

(202) 393-1222

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.07x

Higher debt load relative to assets than 21% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

7th percentile

0.03x

Higher debt load relative to revenue than 7% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

15th percentile

-5.7%

Higher net margin than 15% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

35th percentile

$254,263

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

4th percentile

-13%

Faster asset growth than 4% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

16th percentile

-9.6%

Faster revenue growth than 16% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Down

$35,072,324

Down $5,082,783 (-13%) from 2013

Net Assets

Down

$32,698,893

Down $5,422,380 (-14%) from 2013

Liabilities

Up

$2,373,431

Up $339,597 (+17%) from 2013

Revenue

Down

$94,537,091

Down $10,080,839 (-9.6%) from 2013

Expenses

Up

$99,960,631

Up $5,146,634 (+5.4%) from 2013

Net Income

Down

-$5,423,540

Down $15,227,473 (-155%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2010: $18,720,656Liabilities 2010: $607,350Net Assets 2010: $18,113,3062010Assets 2011: $24,848,685Liabilities 2011: $708,819Net Assets 2011: $24,139,8662011Assets 2012: $29,256,185Liabilities 2012: $940,830Net Assets 2012: $28,315,3552012Assets 2013: $40,155,107Liabilities 2013: $2,033,834Net Assets 2013: $38,121,2732013Assets 2014: $35,072,324Liabilities 2014: $2,373,431Net Assets 2014: $32,698,8932014Assets 2015: $42,529,478Liabilities 2015: $2,789,916Net Assets 2015: $39,739,5622015Assets 2016: $44,575,312Liabilities 2016: $2,909,036Net Assets 2016: $41,666,2762016Assets 2017: $46,885,751Liabilities 2017: $4,505,780Net Assets 2017: $42,379,9712017Assets 2018: $47,823,862Liabilities 2018: $4,111,998Net Assets 2018: $43,711,8642018Assets 2019: $42,783,579Liabilities 2019: $4,722,052Net Assets 2019: $38,061,5272019Assets 2020: $36,886,545Liabilities 2020: $5,858,861Net Assets 2020: $31,027,6842020Assets 2021: $78,359,379Liabilities 2021: $8,461,655Net Assets 2021: $69,897,7242021Assets 2022: $38,860,607Liabilities 2022: $7,058,821Net Assets 2022: $31,801,7862022Assets 2023: $35,649,333Liabilities 2023: $7,179,530Net Assets 2023: $28,469,8032023Assets 2024: $35,985,039Liabilities 2024: $8,999,173Net Assets 2024: $26,985,8662024

Highlighted filing

2014

Assets$35,072,324
Liabilities$2,373,431
Net Assets$32,698,893

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0-$50MExpenses 2010: $31,623,5232010Expenses 2011: $92,968,3222011Expenses 2012: $97,318,9932012Revenue 2013: $104,617,930Expenses 2013: $94,813,997Net Income 2013: $9,803,9332013Revenue 2014: $94,537,091Expenses 2014: $99,960,631Net Income 2014: -$5,423,5402014Revenue 2015: $136,101,069Expenses 2015: $129,060,587Net Income 2015: $7,040,4822015Revenue 2016: $137,049,068Expenses 2016: $135,122,816Net Income 2016: $1,926,2522016Revenue 2017: $107,009,268Expenses 2017: $106,297,627Net Income 2017: $711,6412017Revenue 2018: $96,220,965Expenses 2018: $94,889,118Net Income 2018: $1,331,8472018Revenue 2019: $95,484,650Expenses 2019: $101,137,707Net Income 2019: -$5,653,0572019Revenue 2020: $126,947,043Expenses 2020: $133,980,886Net Income 2020: -$7,033,8432020Revenue 2021: $119,219,618Expenses 2021: $102,941,147Net Income 2021: $16,278,4712021Revenue 2022: $104,666,814Expenses 2022: $120,387,234Net Income 2022: -$15,720,4202022Revenue 2023: $85,122,503Expenses 2023: $88,386,667Net Income 2023: -$3,264,1642023Revenue 2024: $92,324,711Expenses 2024: $93,812,596Net Income 2024: -$1,487,8852024

Highlighted filing

2014

Revenue$94,537,091
Expenses$99,960,631
Net Income-$5,423,540
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 4, 2015
Return Version
2014v5.0
Gross Receipts
$94,566,825
Mission and Program Overview

Mission

First book's primary purpose is to give disadvantaged children the opportunity to read and own their first book by distributing new books to children who have little or no access to books outside of school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$34,690,943$28,748,451▼ $5,942,492
Cash and Non-Interest-Bearing Accounts$4,809,787$5,419,446▲ $609,659
Accounts Receivable$448,119$658,313▲ $210,194
Prepaid Expenses and Deferred Charges$115,543$151,077▲ $35,534
Land, Buildings, and Equipment, Net$79,360$58,106▼ $21,254
Investments in Publicly Traded Securities$11,355$33,774▲ $22,419
Intangible Assets-$3,157-
Total Assets$40,155,107$35,072,324▼ $5,082,783
Liabilities
Accounts Payable and Accrued Expenses$1,688,868$2,002,680▲ $313,812
Other Liabilities$344,966$370,751▲ $25,785
Total Liabilities$2,033,834$2,373,431▲ $339,597
Net Assets / Fund Balance
Unrestricted Net Assets$36,031,698$31,081,543▼ $4,950,155
Temporarily Rstr Net Assets$2,089,575$1,617,350▼ $472,225
Total Net Assets Fund Balance$38,121,273$32,698,893▼ $5,422,380
Total Liabilities and Net Assets / Fund Balance$40,155,107$35,072,324▼ $5,082,783

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$58,106$64,638$122,744
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jane RobinsonCFOFT$209,949$44,314$254,263
Kyle ZimmerPresident/diFT$210,833$39,656$250,489
Kyle ZimmerPresident/director-$210,833$39,656$250,489
Chandler ArnoldCOOFT$209,949$34,239$244,188
Daniel StokesVP OperationFT$153,496$26,562$180,058
Daniel StokesVP Operations-$153,496$26,562$180,058
Becki LastVP, Ntl EngaFT$144,928$19,588$164,516
Becki LastVP, Ntl Engagement-$144,928$19,588$164,516
Premkumar ChandrasekhararakuruVP Info TechFT$142,401$19,198$161,599
Premkumar ChandrasekhararakuruVP Info Technology-$142,401$19,198$161,599
Bryan StraathofVP FinanceFT$138,333$18,891$157,224
Kimberly AlbeeVP Mktplc OpFT$128,491$24,216$152,707
Kimberly AlbeeVP Mktplc Operations-$128,491$24,216$152,707

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Arjuna SolutionsConsulting2100 M STREET NW 170-316, Washington, DC 20037$143,524
Ct SolutionsIt12700 FAIRLAKES CIRCLE 160, Fairfax, VA 22033$134,540
Octo Consulting GroupIt1600 INT DR 5TH FLOOR, Mclean, VA 22102$117,428
Revenue and Support

Revenue Composition

Contributions and Grants
$90,111,055
Program Service Revenue
$4,429,118
Investment Income
$5,719
Other Revenue
$-8,801
All Other Contributions
$90,111,055
Change in Net Assets
$-5,423,540

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Books and Publications-$74,297,028Fair Market Value
Food Inventory2$33,348Fair Market Value
Total Noncash Contributions2$74,330,376-

Audited Revenue Reconciliation

Revenue per Audited Statements
$94,537,091
Revenue Not Reported on Form 990
$306,014
Total Revenue per Audited Statements
$94,843,105
Total Revenue per Form 990
$94,537,091
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$90,523,578
Salaries, Compensation, and Employee Benefits$6,769,217
Grants and Similar Amounts Paid$2,667,836
Total Fundraising Expense$965,922
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,742,347$726,066$536,141$5,004,554
Foreign Grants$2,667,836--$2,667,836
Fees for Services Other$1,265,964$200,680$76,651$1,543,295
Other Expenses$1,040,968$35,940-$1,040,968
Current Officers, Directors, Trustees, and Key Employees$209,949$326,041$94,741$630,731
Office Expenses$426,770$162,425$24,080$613,275
Other Employee Benefits$340,427$90,683$53,828$484,938
Occupancy$326,991$87,104$51,704$465,799
Payroll Taxes$272,855$72,684$43,144$388,683
Travel$208,392$55,512$32,951$296,855
Pension Plan Contributions$182,738$48,678$28,895$260,311
Information Technology$150,436$40,073$23,787$214,296
All Other Expenses$139,007--$139,007
Fees for Services Accounting-$54,277-$54,277
Conferences and Meetings$50,995--$50,995
Insurance-$36,389-$36,389
Depreciation Depletion-$29,467-$29,467
Total Functional Expenses$97,028,690$1,966,019$965,922$99,960,631

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$100,265,485
Expenses per Audited Statements$99,960,631
Total Expenses per Form 990$99,960,631
Expenses Not Reported on Form 990$304,854
International Activity

International Summary

Spending
$2,667,836

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaGrants to Recipients---$2,667,836
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Pension Payable$228,881
Accrued Expenses$141,870
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Form 990 is distributed to board members for their consideration before it is signed and filed.

Form 990, Page 6, Part VI, Line 12C

At least annually, the board reviews the policy and monitors any potential conflict of interest.

Form 990, Page 6, Part VI, Line 15A

A committee of the board reviews and approves the compensation packages of the organizations ceo, executive director and other top management. Factors taken into account include comparable compensation packages for other non-profits, the cost of living, tenure of the employee and their performance as well as the economic reality of first book's financial condition.

Form 990, Page 6, Part VI, Line 15B

A committee of the board reviews and approves the compensation packages of the organizations officers and key employees. Factors taken into account include comparable compensation packages for other non-profits, the cost of living, tenure of the employee and their performance as well as the economic reality of first book's financial condition.

Form 990, Page 6, Part VI, Line 17

Massachusetts, massachusetts, maryland, michigan, minnesota, missouri, mississippi, north carolina, new hampshire, new jersey, new mexico, new york, ohio, oklahoma, oregon, pennsylvania, rhode island, south carolina, tennessee, utah, virginia, washington, wisconsin, west virginia

Form 990, Page 6, Part VI, Line 19

Governing documents, policies and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
First Book
EIN
52-1779606
Phone
2023931222
Address
1319 F STREET NW, ROOM/SUITE 1000, WASHINGTON, DC 20004

Signing Officer

Name
Kyle Zimmer
Title
President
Phone
2023931222
Signed
2015-08-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kyle Zimmer President
Formed
1992
Legal Domicile
Dc
Voting Board Members
18
Independent Board Members
17
Employees
94
Volunteers
2,000

Preparer

Firm
MENDELSON & MENDELSON CPA'S A PC
Address
12505 PARK POTOMAC AVE STE 250, POTOMAC, MD 20854-6805
Preparer
Louis B Ruebelmann CPA
Phone
3016560001
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

First book has distributed millions of new books to low-income and educationally at-risk children participating in schools and community based literacy programs in cities, towns and counties nationwide. First book has three national outreach programs making age-appropriate new books available to educators and caregivers serving kids in need.

Form 990, Part V, Line 4B

CANADA

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.0$9.00$27.0$92.3$93.8$1.49
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.6$7.18$28.5$85.1$88.4$3.26
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.9$7.06$31.8$105$120$15.7
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$78.4$8.46$69.9$119$103$16.3
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.9$5.86$31.0$127$134$7.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$42.8$4.72$38.1$95.5$101$5.65
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$47.8$4.11$43.7$96.2$94.9$1.33
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.9$4.51$42.4$107$106$0.71
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.6$2.91$41.7$137$135$1.93
2015Detailed filing. Detailed filing data is available for this year.$42.5$2.79$39.7$136$129$7.04
2014Detailed filing. Detailed filing data is available for this year.$35.1$2.37$32.7$94.5$100.0$5.42
2013Detailed filing. Detailed filing data is available for this year.$40.2$2.03$38.1$105$94.8$9.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$0.94$28.3$97.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$0.71$24.1$93.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.7$0.61$18.1$31.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $50M-$100M nonprofits