Civic Intelligence

Principles First for America Ltd

990 • Fiscal year 2023 • EIN 84-3733436

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

1100 Vermont Ave NW 10th FloorWashington, DC 20005

(202) 800-6948

Siviq Scores

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

Liabilities / Assets

91st percentile

0.46x

Higher debt load relative to assets than 91% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.62x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Net Margin

96th percentile

68%

Higher net margin than 96% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Top Officer Pay

94th percentile

$24,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Assets

$338,878

No earlier filing loaded for comparison.

Net Assets

$184,363

No earlier filing loaded for comparison.

Liabilities

$154,515

No earlier filing loaded for comparison.

Revenue

$247,810

No earlier filing loaded for comparison.

Expenses

$79,252

No earlier filing loaded for comparison.

Net Income

$168,558

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2023: $338,878Liabilities 2023: $154,515Net Assets 2023: $184,3632023Assets 2024: $393,486Liabilities 2024: $89,447Net Assets 2024: $304,0392024

Highlighted filing

2023

Assets$338,878
Liabilities$154,515
Net Assets$184,363

Operations Trend

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

$400K$300K$200K$100K$0Revenue 2023: $247,810Expenses 2023: $79,252Net Income 2023: $168,5582023Revenue 2024: $334,960Expenses 2024: $215,284Net Income 2024: $119,6762024

Highlighted filing

2023

Revenue$247,810
Expenses$79,252
Net Income$168,558
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.0
Gross Receipts
$247,810
Mission and Program Overview

Mission

We are a nationwide grassroots movement of people who share a love of american democracy and concern for the direction of our existing leadership. We've watched as institutions on the right have been co-opted by bad-faith actors willing to put politics and personality over principle. And we've seen those in positions of leadership compromise themselves out of cynical self-interest. We believe good-faith americans deserve something better. We're building an alternative that elevates principled leaders around the country to speak out as a voice of clarity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$212,500-
Cash and Non-Interest-Bearing Accounts$15,805$109,405▲ $93,600
Prepaid Expenses and Deferred Charges-$15,813-
Accounts Receivable-$1,160-
Total Assets$15,805$338,878▲ $323,073
Liabilities
Unsecured Notes Loans Payable-$150,000-
Deferred Revenue-$3,444-
Accounts Payable and Accrued Expenses-$1,071-
Total Liabilities$0$154,515▲ $154,515
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,805$184,363▲ $168,558
Total Net Assets Fund Balance$15,805$184,363▲ $168,558
Total Liabilities and Net Assets / Fund Balance$15,805$338,878▲ $323,073
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey CarsonCOOFT$24,000$24,000

Board Members and Trustees

NameTitle
Heath MayoPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$247,810
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$247,810
Change in Net Assets
$168,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,638
Salaries, Compensation, and Employee Benefits$2,614
Total Fundraising Expense$331
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$48,376--$48,376
Fees for Services Accounting-$13,221-$13,221
Fees for Services Management$9,811$2,533-$12,344
Current Officers, Directors, Trustees, and Key Employees-$2,400-$2,400
Information Technology-$847$331$1,178
Travel-$656-$656
Other Expenses-$573-$573
Payroll Taxes-$214-$214
Office Expenses-$185-$185
Fees for Services Other-$105-$105
Total Functional Expenses$58,187$20,734$331$79,252
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
No
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 8B

Principles first for america, ltd. Has not established any sub-committees with authority to act on behalf of the governing body.

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

Principles first for america, ltd.'s form 990 was reviewed by management and members of the governing body. Comments were addressed before the return was filed.

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

Pfa requires the officers and directors to read and sign the policy and to disclose any conflicts of interest they may have to the entire board. The board then decides whether or not there exists a conflict. Any officers or board members with conflicts are recused from voting upon issues involving their particular conflict.

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

Pfa requires that compensation for the directors and employees be reviewed and approved by the board of directors; person with conflicts of interest regarding the compensation arrangement at issue are recused. Contemporaneous documentation and recordkeeping are maintained with respect to deliberations and decisions regarding the compensation arrangement.

Form 990, Page 6, Part VI, Line 19

Principles first for america, ltd. Does not make its governing documents, conflict of interest policy, and financial statements available for public inspection. Copies of its 990 are made available for public inspection upon request at the organizations headquarters in washington, dc as required by law.

Filing and Contact Details

Filer

Filer Name
Principles First for America Ltd
EIN
84-3733436
Phone
2028006948
Address
1100 VERMONT AVE NW 10TH FLOOR, WASHINGTON, DC 20005

Signing Officer

Name
Heath Mayo
Title
President
Phone
2028006948
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heath Mayo
Formed
2019
Legal Domicile
Ma
Voting Board Members
1
Independent Board Members
1
Employees
1
Volunteers
50

Preparer

Firm
Ryan & Wetmore Pc
Address
1950 OLD GALLOWS ROAD SUITE 525, VIENNA, VA 22182
Preparer
Jason T Dudas CPA Va
Phone
7032884777
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

We are a nationwide grassroots movement of people who share a love of american democracy and concern for the direction of our existing leadership. We've watched as institutions on the right have been co-opted by bad-faith actors willing to put politics and personality over principle. And we've seen those in positions of leadership compromise themselves out of cynical self-interest. We believe good-faith americans deserve something better. We're building an alternative that elevates principled leaders around the country to speak out as a voice of clarity.

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

Summit principles first achieved significant growth during this fiscal year. It successfully hosted its third annual principles first summit, gathering hundreds of supporters from around the country for a weekend of panels and networking in washington dc. This effectively helped grow the organizations public profile and grassroots base of support, creating space for people from all over to connect around shared ideals and plan further advocacy and outreach efforts. Earned media the panel generated significant earned media coverage, including in politico and roll call. In addition to coverage of the summit itself, increased outreach and social media presence helped cement the principles first brand as a widely recognized leader in its field of pro-democracy advocacy. And founder heath mayo was featured in the washington post sharing his vision for a more principled civic and political culture. Leadership principles first held a series of virtual town halls with national leaders who embody the principled vision for leadership that the organization expounds. These were positively received among the groups membership base, and helped demonstrate the continued viability of pfs efforts in the real world. They also provided engaging content for social, where the groups message reaches new audiences and helps convert people into volunteers. Volunteers building on the success of the summit and increased media presence, principles first invested in growing its volunteer base. Made up of dozens of volunteers from across the country, the principles first community is the backbone of the organizations work. Pfs identity has always been as a volunteer-driven organization, so this remained at the core of its agenda, even as options for bringing on full-time staff or contractors were explored. Heath continued to serve as its volunteer president.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE ARE A NATIONWIDE GRASSROOTS MOVEMENT OF PEOPLE WHO SHARE A LOVE OF AMERICAN DEMOCRACY AND CONCERN FOR THE DIRECTION OF OUR EXISTING LEADERSHIP. WE'VE WATCHED AS INSTITUTIONS ON THE RIGHT HAVE BEEN CO-OPTED BY BAD-FAITH ACTORS WILLING TO PUT POLITICS AND PERSONALITY OVER PRINCIPLE. AND WE'VE SEEN THOSE IN POSITIONS OF LEADERSHIP COMPROMISE THEMSELVES OUT OF CYNICAL SELF-INTEREST. WE BELIEVE GOOD-FAITH AMERICANS DESERVE SOMETHING BETTER. WE'RE BUILDING AN ALTERNATIVE THAT ELEVATES PRINCIPLED LEADERS AROUND THE COUNTRY TO SPEAK OUT AS A VOICE OF CLARITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SUMMIT PRINCIPLES FIRST ACHIEVED SIGNIFICANT GROWTH DURING THIS FISCAL YEAR. IT SUCCESSFULLY HOSTED ITS THIRD ANNUAL PRINCIPLES FIRST SUMMIT, GATHERING HUNDREDS OF SUPPORTERS FROM AROUND THE COUNTRY FOR A WEEKEND OF PANELS AND NETWORKING IN WASHINGTON DC. THIS EFFECTIVELY HELPED GROW THE ORGANIZATIONS PUBLIC PROFILE AND GRASSROOTS BASE OF SUPPORT, CREATING SPACE FOR PEOPLE FROM ALL OVER TO CONNECT AROUND SHARED IDEALS AND PLAN FURTHER ADVOCACY AND OUTREACH EFFORTS. EARNED MEDIA THE PANEL GENERATED SIGNIFICANT EARNED MEDIA COVERAGE, INCLUDING IN POLITICO AND ROLL CALL. IN ADDITION TO COVERAGE OF THE SUMMIT ITSELF, INCREASED OUTREACH AND SOCIAL MEDIA PRESENCE HELPED CEMENT THE PRINCIPLES FIRST BRAND AS A WIDELY RECOGNIZED LEADER IN ITS FIELD OF PRO-DEMOCRACY ADVOCACY. AND FOUNDER HEATH MAYO WAS FEATURED IN THE WASHINGTON POST SHARING HIS VISION FOR A MORE PRINCIPLED CIVIC AND POLITICAL CULTURE. LEADERSHIP PRINCIPLES FIRST HELD A SERIES OF VIRTUAL TOWN HALLS WITH NATIONAL LEADERS WHO EMBODY THE PRINCIPLED VISION FOR LEADERSHIP THAT THE ORGANIZATION EXPOUNDS. THESE WERE POSITIVELY RECEIVED AMONG THE GROUPS MEMBERSHIP BASE, AND HELPED DEMONSTRATE THE CONTINUED VIABILITY OF PFS EFFORTS IN THE REAL WORLD. THEY ALSO PROVIDED ENGAGING CONTENT FOR SOCIAL, WHERE THE GROUPS MESSAGE REACHES NEW AUDIENCES AND HELPS CONVERT PEOPLE INTO VOLUNTEERS. VOLUNTEERS BUILDING ON THE SUCCESS OF THE SUMMIT AND INCREASED MEDIA PRESENCE, PRINCIPLES FIRST INVESTED IN GROWING ITS VOLUNTEER BASE. MADE UP OF DOZENS OF VOLUNTEERS FROM ACROSS THE COUNTRY, THE PRINCIPLES FIRST COMMUNITY IS THE BACKBONE OF THE ORGANIZATIONS WORK. PFS IDENTITY HAS ALWAYS BEEN AS A VOLUNTEER-DRIVEN ORGANIZATION, SO THIS REMAINED AT THE CORE OF ITS AGENDA, EVEN AS OPTIONS FOR BRINGING ON FULL-TIME STAFF OR CONTRACTORS WERE EXPLORED. HEATH CONTINUED TO SERVE AS ITS VOLUNTEER PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRINCIPLES FIRST FOR AMERICA, LTD. HAS NOT ESTABLISHED ANY SUB-COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRINCIPLES FIRST FOR AMERICA, LTD.'S FORM 990 WAS REVIEWED BY MANAGEMENT AND MEMBERS OF THE GOVERNING BODY. COMMENTS WERE ADDRESSED BEFORE THE RETURN WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PFA REQUIRES THE OFFICERS AND DIRECTORS TO READ AND SIGN THE POLICY AND TO DISCLOSE ANY CONFLICTS OF INTEREST THEY MAY HAVE TO THE ENTIRE BOARD. THE BOARD THEN DECIDES WHETHER OR NOT THERE EXISTS A CONFLICT. ANY OFFICERS OR BOARD MEMBERS WITH CONFLICTS ARE RECUSED FROM VOTING UPON ISSUES INVOLVING THEIR PARTICULAR CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PFA REQUIRES THAT COMPENSATION FOR THE DIRECTORS AND EMPLOYEES BE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS; PERSON WITH CONFLICTS OF INTEREST REGARDING THE COMPENSATION ARRANGEMENT AT ISSUE ARE RECUSED. CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING ARE MAINTAINED WITH RESPECT TO DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PRINCIPLES FIRST FOR AMERICA, LTD. DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION. COPIES OF ITS 990 ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE ORGANIZATIONS HEADQUARTERS IN WASHINGTON, DC AS REQUIRED BY LAW.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01100 VERMONT AVE NW 10TH FLOOR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WASHINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0DC
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IRS990/TaxExemptBondsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt058187
IRS990/TotalFunctionalExpensesGrp/TotalAmt079252
IRS990/TotalGrossUBIAmt00
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IRS990/TravelGrp/TotalAmt0656
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0150000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01100 VERMONT AVE NW 10TH FLOOR
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HEATH MAYO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02028006948
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PRINCIPLES FIRST FOR AMERICA LTD
ReturnHeader/Filer/BusinessNameControlTxt0PRIN
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ReturnHeader/Filer/PhoneNum02028006948
ReturnHeader/Filer/USAddress/AddressLine1Txt01100 VERMONT AVE NW 10TH FLOOR
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521753100
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RYAN & WETMORE PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01950 OLD GALLOWS ROAD SUITE 525
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0VIENNA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022182
ReturnHeader/PreparerPersonGrp/PhoneNum07032884777
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JASON T DUDAS CPA VA
ReturnHeader/ReturnTs02024-11-15T13:16:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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