First 72
- Assets
- $1.4m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 19
- Location
- New Orleans, LA
- Founding
- 04/2015
- Data as of
- 12/2022
- EIN
- 47-1833909
Organization Overview
First 72 is located in New Orleans, LA. The organization was established in 2015. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2022, First 72 employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First 72 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, First 72 generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.4% each year . All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 30.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO STOP THE CYCLE OF INCARCERATION BY FOSTERING INDEPENDENCE AND SELF-SUSTAINABILITY THROUGH EDUCATION,STABLE AND SECURE HOUSING & EMPLOYMENT, HEALTH CARE, AND COMMUNITY ENGAGEMENT. THROUGH THE LEADERSHIP AND WISDOM OF FORMERLY INCARCERATED PEOPLE THEMSELVES, THE FIRST 72+ TRANSFORMS THE RE-ENTRY EXPERIENCE INTO ONE THAT BUILDS ON THE STRENGTHS AND ABILITIES OF PEOPLE RETURNING HOME FROM PRISON AND ENSURES THAT THEY, THEIR FAMILIES, AND THEIR COMMUNITIES ARE GIVEN THE GREATEST OPPORTUNITY TO GROW AND THRIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MISC PROGRAMS TO SERVICE CLIENTS, INCLUDING ACCESS TO AFFORDABLE HOUSING, ECONOMIC EMPOWERMENT, LEGAL SERVICE CLINIC AND SMALL BUSINESS INCUBATOR.
EXONEREE SUPPORT SERVICES: WE PROVIDED CASE MANAGEMENT, PEER MENTORSHIP, AND DIRECT FINANCIAL ASSISTANCE TO 37 PEOPLE WHO WERE WRONGFULLY CONVICTED
HOUSING FOR FORMELY INCARCERATED PEOPLE; WE PROVIDED FREE EMERGENCY AND TRANSITIONAL HOUSING AND SUPPORTIVE WRAP AROUND SERVICES TO PEOPLE RECENTLY RELEASED FROM JAIL AND PRISON WE ALSO FINISHED DESIGNS, SECURED CONSTRUCTION PERMITS, WE FINISHED BUILDING A NEW TRANSITIONAL HOUSE TO ADD 8 ADDITIONAL BEDS TO OUR PROGRAM AND WILL BE OPEN AND OPERATIONAL IN 2023.WE ALSO PROVIDED HOUSING VOUCHERS TO SUPPORT TRANSITIONS INTO INDEPENDENT LIVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Sanders Co-Executive D | Officer | 40 | $98,333 |
Tyrone Smith Co-Executive D | Officer | 40 | $77,183 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,354,853 |
| Related organizations | $0 |
| Government grants | $213,239 |
| All other contributions, gifts, grants, and similar amounts not included above | $131,117 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,699,209 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,699,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,516 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $422,161 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $82,963 |
| Payroll taxes | $47,042 |
| Fees for services: Management | $19,750 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $75,272 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $260,912 |
| Advertising and promotion | $0 |
| Office expenses | $125,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,836 |
| Travel | $2,886 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,107 |
| All other expenses | $390 |
| Total functional expenses | $1,435,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $484,751 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $287,047 |
| Accounts receivable, net | $138,695 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $482,631 |
| Total assets | $1,393,124 |
| Accounts payable and accrued expenses | $84,137 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $80,000 |
| Other liabilities | $25,100 |
| Total liabilities | $189,237 |
| Net assets without donor restrictions | $543,942 |
| Net assets with donor restrictions | $659,945 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,393,124 |
Grants Awarded
Over the last fiscal year, First 72 has awarded $31,957 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ALL PRO MAINTENANCE SERVICES PURPOSE: BUSINESS START-UP COSTS | $5,554 |
CUSTOM OPTICAL NEW ORLEANS PURPOSE: BUSINESS START-UP COSTS | $3,458 |
FREE-DEM FOUNDATIONS INC PURPOSE: BUSINESS START-UP COSTS | $1,000 |
REAL GENTLEMEN BARBERSHOP LLC PURPOSE: BUSINESS START-UP COSTS | $11,234 |
GEORGE TOCA LANDSCAPING PURPOSE: BUSINESS START-UP COSTS | $10,711 |