Civic Intelligence

Ferst Foundation for Childhood Literacy Inc

990 • Fiscal year 2015 • EIN 58-2489181

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 26, 2016

PO Box 1327Madison, GA 30650

(706) 343-0177

Siviq Scores

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

Liabilities / Assets

28th percentile

0.02x

Higher debt load relative to assets than 28% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

23rd percentile

0.02x

Higher debt load relative to revenue than 23% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

47th percentile

1.8%

Higher net margin than 47% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

48th percentile

$60,000

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

45th percentile

-0.3%

Faster asset growth than 45% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

61st percentile

8.4%

Faster revenue growth than 61% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,019,209

Down $3,334 (-0.3%) from 2014

Net Assets

Up

$1,002,694

Up $18,612 (+1.9%) from 2014

Liabilities

Down

$16,515

Down $21,946 (-57%) from 2014

Revenue

Up

$1,042,103

Up $80,739 (+8.4%) from 2014

Expenses

Up

$1,023,490

Up $54,651 (+5.6%) from 2014

Net Income

Up

$18,613

Up $26,088 (+349%) from 2014

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,020,187Liabilities 2011: $52,441Net Assets 2011: $967,7462011Assets 2012: $1,087,895Liabilities 2012: $76,454Net Assets 2012: $1,011,4412012Assets 2013: $1,012,909Liabilities 2013: $21,352Net Assets 2013: $991,5572013Assets 2014: $1,022,543Liabilities 2014: $38,461Net Assets 2014: $984,0822014Assets 2015: $1,019,209Liabilities 2015: $16,515Net Assets 2015: $1,002,6942015Assets 2016: $1,239,018Liabilities 2016: $66,606Net Assets 2016: $1,172,4122016Assets 2017: $1,538,542Liabilities 2017: $49,080Net Assets 2017: $1,489,4622017Assets 2018: $1,980,528Liabilities 2018: $75,862Net Assets 2018: $1,904,6662018Assets 2019: $2,030,839Liabilities 2019: $93,426Net Assets 2019: $1,937,4132019Assets 2020: $1,920,921Liabilities 2020: $10,683Net Assets 2020: $1,910,2382020Assets 2021: $2,420,121Liabilities 2021: $114,065Net Assets 2021: $2,306,0562021Assets 2022: $1,597,930Liabilities 2022: $19,468Net Assets 2022: $1,578,4622022Assets 2023: $2,103,064Liabilities 2023: $146,498Net Assets 2023: $1,956,5662023Assets 2024: $1,930,863Liabilities 2024: $194,184Net Assets 2024: $1,736,6792024

Highlighted filing

2015

Assets$1,019,209
Liabilities$16,515
Net Assets$1,002,694

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,247,221Expenses 2011: $2,119,322Net Income 2011: $127,8992011Expenses 2012: $1,152,8942012Revenue 2013: $941,945Expenses 2013: $961,826Net Income 2013: -$19,8812013Revenue 2014: $961,364Expenses 2014: $968,839Net Income 2014: -$7,4752014Revenue 2015: $1,042,103Expenses 2015: $1,023,490Net Income 2015: $18,6132015Revenue 2016: $1,259,427Expenses 2016: $1,089,708Net Income 2016: $169,7192016Revenue 2017: $1,590,279Expenses 2017: $1,273,230Net Income 2017: $317,0492017Revenue 2018: $2,040,796Expenses 2018: $1,625,594Net Income 2018: $415,2022018Revenue 2019: $1,879,782Expenses 2019: $1,847,037Net Income 2019: $32,7452019Revenue 2020: $1,927,302Expenses 2020: $1,954,478Net Income 2020: -$27,1762020Revenue 2021: $2,368,538Expenses 2021: $1,998,344Net Income 2021: $370,1942021Revenue 2022: $1,848,340Expenses 2022: $2,392,283Net Income 2022: -$543,9432022Revenue 2023: $2,728,942Expenses 2023: $2,478,137Net Income 2023: $250,8052023Revenue 2024: $2,191,141Expenses 2024: $2,473,378Net Income 2024: -$282,2372024

Highlighted filing

2015

Revenue$1,042,103
Expenses$1,023,490
Net Income$18,613
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 26, 2016
Return Version
2015v2.1
Gross Receipts
$1,057,421
Mission and Program Overview

Mission

Ferst readers provides books for local communities to prepare preschool children for reading and learning success. Providing literacy resources for children, birth to five, and families, ferst readers strives to improve school readiness and early learning outcomes.

In the effort to improve early school success, ferst foundation mails quality books every month to the homes of children, birth to five, and provides parents with literacy resources, all at no charge to the family

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$666,672$667,213▲ $541
Cash and Non-Interest-Bearing Accounts$267,345$290,060▲ $22,715
Prepaid Expenses and Deferred Charges$60,326$51,329▼ $8,997
Land, Buildings, and Equipment, Net$11,057$6,278▼ $4,779
Accounts Receivable$3,585$4,329▲ $744
Total Assets$1,022,543$1,019,209▼ $3,334
Other Assets Total$13,558$0▼ $13,558
Liabilities
Escrow Account Liability$18,306$10,253▼ $8,053
Accounts Payable and Accrued Expenses$20,155$6,262▼ $13,893
Total Liabilities$38,461$16,515▼ $21,946
Net Assets / Fund Balance
Temporarily Rstr Net Assets$770,462$687,450▼ $83,012
Unrestricted Net Assets$213,620$315,244▲ $101,624
Total Net Assets Fund Balance$984,082$1,002,694▲ $18,612
Total Liabilities and Net Assets / Fund Balance$1,022,543$1,019,209▼ $3,334

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,667$38,225$39,892
Leasehold Improvements$3,464$3,036$6,500
Other Land Buildings$1,147$3,958$5,105
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Betsy WagenhauserPresidentFT$60,000$60,000

Board Members and Trustees

NameTitle
Jason ByarsChair
Michelle WellsVice Chair
Ali GantBoard Member
Colin OwensBoard Member
Dr Babs JohnstonBoard Member
Dr Stan DejarnettBoard Member
Dr Ursula ReynoldsBoard Member
Dr William RushingBoard Member
Eve GoldsteinBoard Member
James CampbellBoard Member
Kathy AsheBoard Member
Margaret QuinlinBoard Member
R Corley Watson IiiBoard Member
Robin Ferst MarhaverBoard Member
Susannah BalishBoard Member
Stacy BreesSecretary
Will AcreeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$957,667
Program Service Revenue
$0
Investment Income
$21
Other Revenue
$84,415
All Other Contributions
$953,917
Change in Net Assets
$18,613

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,042,103
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$11,999
Total Revenue per Audited Statements
$1,054,102
Total Revenue per Form 990
$1,042,103
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$836,749
Salaries, Compensation, and Employee Benefits$186,741
Total Fundraising Expense$23,114
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$90,840$12,331$8,282$111,453
Current Officers, Directors, Trustees, and Key Employees$45,000$6,000$9,000$60,000
Fees for Services Accounting-$16,911-$16,911
Office Expenses$12,822$2,834$1,074$16,730
Payroll Taxes$9,611$2,871$1,384$13,866
Information Technology$8,851$680$300$9,831
Travel$7,484$825$859$9,168
Depreciation Depletion$4,301$335$143$4,779
Occupancy$4,117$352$137$4,606
Fees for Services Other$2,490$408$47$2,945
Insurance-$2,384-$2,384
Other Employee Benefits$995$285$142$1,422
Conferences and Meetings$270$692$458$1,420
Other Expenses$467$641$16$1,124
Advertising$610$73$66$749
All Other Expenses-$709-$709
Total Functional Expenses$949,333$51,043$23,114$1,023,490

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,035,490
Expenses per Audited Statements$1,023,490
Total Expenses per Form 990$1,023,490
Expenses Not Reported on Form 990$12,000
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$70,561
Gaming Gross Income$29,172
Fundraising Direct Expenses$11,743
Gaming Direct Expenses$3,575
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Henry County Spring Luncheon$19,145$19,145$1,089$18,056
Polk County-evening With Authors$14,199$14,199$300$13,899
Total Events$70,561$70,561$11,743$58,818
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Entity Owned by Margaret Quinlin a Current Member of the Bod.Peachtree Publishers Is One of 3 Book Publishers the Organization Purchases Books From for Distribution. Approximately One Third of the Books Distributed Are Purchased From Peachtree Publishers. the Price of Books Purchased From Peachtree Publishers Is Consistent With the Purchase Price of Books From the Other Two Publishers. the Bod Approved Peachtree Publishers as One of the 3 Publishers From Which Books Are Purchased With the Knowledge a Board Member Was the Owner. the Owner Abstained From the Deliberations and Vote.No$165,591
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
Yes
Material changes to governing documents
Yes
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, Part VI, Section A, Line 4

By-laws change article iv - officers: section 4.1 and article vii - committees: section 7.3 of the by-laws were amended to include the immediate past chair as a member of the executive committee. These amendments were passed by board at the 12/8/15 board meeting.

Form 990, Part VI, Section B, Line 11

Initial draft of 990 is reviewed by the chairman of the board, president, and finance committee. After any required changes are made, the second draft is sent to the entire board membership for review. After a comment period, the finance committee approves the 990 and the 990 is signed by the treasurer.

Form 990, Part VI, Section B, Line 12C

All board members and employees are subject to the conflict of interest policy. If a conflict of interest occurs, the board member is prohibited from participating in the deliberation and vote on the transaction. Due to the nature of the organization, the number of material transactions outside the "read to me" program are minimal, therefore each potential conflict is reviewed by the executive committee as needed.

Form 990, Part VI, Section B, Line 15

Compensation review process - a compensation study was completed by an independent ad-hoc committee using average salaries for similar size organizations obtained from the ga center for non profits. As part of the staff reorganization, a job description and salary range were approved for the positions of president and operations director by the board of directors. The executive committee was authorized to negotiate the specific salary for each employee within the approved salary range.

Form 990, Part VI, Section C, Line 19

Governing documents and financial statements are available on request.

Filing and Contact Details

Filer

Filer Name
Ferst Foundation for Childhood Literacy
EIN
58-2489181
Phone
7063430177
Address
PO BOX 1327, MADISON, GA 30650

Signing Officer

Name
Corey Watson
Title
Treasurer
Phone
7063430177
Signed
2016-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Betsy Wagenhauser
Formed
1999
Legal Domicile
Ga
Voting Board Members
17
Independent Board Members
17
Employees
7
Volunteers
800

Preparer

Firm
Bates Carter & Co Llp
Address
PO DRAWER 2396, GAINESVILLE, GA 30503
Preparer
J Ronald Bracewell Jr
Phone
7705329131
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING -1.

FORM 990, PART XII, LINE 2C:

There were no changes in oversight of the audit and selection of the independent accountant.

Financial Statement Notes

PART IV, LINE 2B:

Serves as administrator of the georgia rural libraries initiative which provides multi-year grants to five county libraries in rural communities in georgia to enhance the availablity of early childhood learning resources in rural communities primarily through existing public libraries. The organization serves as fiscal agent for the grants provided by an anonymous donor through the greater atlanta community foundation.

PART X, LINE 2:

The organization does not have a asc 740-10 (formerly fin 48) disclosure related to uncertain tax positions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

ROUNDING -1.

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IRS990/Desc0CHILDREN, BIRTH TO FIVE, WHO PARTICIPATE IN THE FERST FOUNDATION PROGRAM RECEIVE A FREE, AGE-APPROPRIATE BOOK EVERY MONTH IN THE MAIL ALONG WITH LITERACY SUPPORT RESOURCES FOR PARENTS THAT HELP CREATE A LANGUAGE-RICH ENVIRONMENT IN THE HOME. THE FERST FOUNDATION PROGRAM INCREASES CHILDREN'S ACCESS TO PRINT AND EARLY LANGUAGE EXPERIENCES SO THAT THEY HAVE THE BEST CHANCE OF ENTERING SCHOOL WITH THE SKILLS NECESSARY TO SUCCEED. COMMUNITY ACTION TEAMS, COMPRISED OF DEDICATED VOLUNTEERS, IMPLEMENT THE PROGRAM AT THE LOCAL LEVEL BY RAISING FUNDS, REGISTERING CHILDREN AND PARTNERING WITH OTHER ORGANIZATIONS TO RAISE AWARENESS AROUND THE EARLY LITERACY ISSUE. PARTNER ACTION TEAMS ARE DIRECT FUNDERS WHO CHOOSE TO SUPPORT A SPECIFIC GROUP OF CHILDREN FOR PROGRAM ENROLLMENT. THE FERST FOUNDATION PROGRAM CURRENTLY SERVES MORE THAN 30,000 CHILDREN EACH MONTH AND TO DATE HAS MAILED MORE THAN 4.6 MILLION BOOKS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
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IRS990/LegalDomicileStateCd0GA
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FERST FOUNDATION PROVIDES BOOKS FOR COMMUNITIES TO PREPARE PRESCHOOL CHILDREN FOR READING AND LEARNING SUCCESS. FERST FOUNDATION STRIVES TO IMPROVE EARLY LEARNING OUTCOMES FOR EVERY CHILD REGARDLESS OF INCOME, RACE, RELIGION OR GENDER AS ANY CHILD WHO CANNOT READ IS AT RISK.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt025597
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IRS990/NoncashContributionsAmt03450
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IRS990/OccupancyGrp/TotalAmt04606
IRS990/OfficeExpensesGrp/FundraisingAmt01074
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02834
IRS990/OfficeExpensesGrp/ProgramServicesAmt012822
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt00
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0995
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IRS990/OtherExpensesGrp/Desc0READ TO ME LIBRARY
IRS990/OtherExpensesGrp/Desc1CAT SUPPORT
IRS990/OtherExpensesGrp/Desc2VOLUNTEER RECOGNITION
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/FundraisingAmt116
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IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01384
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02871
IRS990/PayrollTaxesGrp/ProgramServicesAmt09611
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt051329
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IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt00
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IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYOtherRevenueAmt061935
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IRS990/PYSalariesCompEmpBnftPaidAmt0197662
IRS990/PYTotalExpensesAmt0968839
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0961364
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt018613
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IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0667213
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0899285
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0906601
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01171545
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02207066
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IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt012000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus2YearsAmt012000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt012000
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt012000
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt066
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01183545
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02219066
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06202164
IRS990ScheduleA/TotalSupportAmt06202621
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.93$0.19$1.74$2.19$2.47$0.28
2023Detailed filing. Detailed filing data is available for this year.$2.10$0.15$1.96$2.73$2.48$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.60$0.02$1.58$1.85$2.39$0.54
2021Detailed filing. Detailed filing data is available for this year.$2.42$0.11$2.31$2.37$2.00$0.37
2020Detailed filing. Detailed filing data is available for this year.$1.92$0.01$1.91$1.93$1.95$0.03
2019Detailed filing. Detailed filing data is available for this year.$2.03$0.09$1.94$1.88$1.85$0.03
2018Detailed filing. Detailed filing data is available for this year.$1.98$0.08$1.90$2.04$1.63$0.42
2017Summary only. Only limited summary data is available for this year.$1.54$0.05$1.49$1.59$1.27$0.32
2016Detailed filing. Detailed filing data is available for this year.$1.24$0.07$1.17$1.26$1.09$0.17
2015Detailed filing. Detailed filing data is available for this year.$1.02$0.02$1.00$1.04$1.02$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.04$0.98$0.96$0.97$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.01$0.02$0.99$0.94$0.96$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.08$1.01$1.15
2011Summary only. Only limited summary data is available for this year.$1.02$0.05$0.97$2.25$2.12$0.13