First Book
- Assets
- $35.6m
- Revenue
- $85.1m
- Investments
- $0.0
- Employees
- 105
- Location
- Washington, DC
- Founding
- 11/1992
- Data as of
- 12/2023
- EIN
- 52-1779606
Organization Overview
First Book is located in Washington, DC. The organization was established in 1992. According to its NTEE Classification (B92) the organization is classified as: Remedial Reading & Encouragement, under the broad grouping of Education and related organizations. As of 12/2023, First Book employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Book 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 12/2023, First Book generated $85.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $88.4m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, First Book has awarded 20 individual grants totaling $341,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
REMOVING BARRIERS TO EDUCATIONAL EQUITY BY PROVIDING CHILDREN IN LOW INCOME COMMUNITIES, AND THE FORMAL AND INFORMAL EDUCATORS WHO SERVE THEM, NEW, (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIRST BOOK IS DEDICATED TO ENSURING THAT ALL CHILDREN, REGARDLESS OF THEIR BACKGROUND OR ZIP CODE, CAN SUCCEED, BY REMOVING BARRIERS TO EQUITABLE EDUCATION. WE REACH 5 MILLION KIDS EACH YEAR IN LOW-INCOME COMMUNITIES ACROSS NORTH AMERICA, PROVIDING BOOKS AND RESOURCES THROUGH A POWERFUL NETWORK OF MORE THAN 575,000 EDUCATORS, THE LARGEST ONLINE COMMUNITY OF ITS KIND. BY INFUSING HIGH-QUALITY RESOURCES INTO CLASSROOMS AND PROGRAMS NATIONWIDE, WE LEVEL THE PLAYING FIELD SO THAT KIDS ARE READY TO LEARN - BECAUSE EDUCATION TRANSFORMS LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Stokes Chief Administrative Officer | Officer | 35 | $225,232 |
Kyle Zimmer President And CEO | OfficerTrustee | 35 | $214,210 |
Christopher Stine Sr. Vice President, It | Officer | 35 | $214,285 |
Becki Last Chief Programming Officer | Officer | 35 | $188,938 |
Dana Bond SVP Corporate Partnerships | Officer | 35 | $179,743 |
Enrique Pinilla COO (as Of 03/23) | Officer | 35 | $167,545 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Parcel Service Shipping Services | 12/30/23 | $3,118,587 |
Maple Logistics Warehouse Services | 12/30/23 | $1,530,941 |
American Book Company Warehouse Services | 12/30/23 | $813,279 |
Kadro Solutions It Consulting | 12/30/23 | $547,560 |
4media Marketing | 12/30/23 | $360,982 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,738,567 |
| Noncash contributions included in lines 1a–1f | $48,001,443 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,738,567 |
| Total Program Service Revenue | $16,199,446 |
| Investment income | $173,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$958 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,122,503 |
| 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 | $93,180 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,503,859 |
| Compensation of current officers, directors, key employees. | $358,266 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,656,991 |
| Pension plan accruals and contributions | $232,020 |
| Other employee benefits | $708,120 |
| Payroll taxes | $592,301 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,711 |
| Fees for services: Accounting | $132,788 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $341,362 |
| Office expenses | $285,205 |
| Information technology | $1,489,969 |
| Royalties | $0 |
| Occupancy | $545,039 |
| Travel | $180,474 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,443 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $64,449 |
| All other expenses | $2,737,682 |
| Total functional expenses | $88,386,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,565,256 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,604,476 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,978,025 |
| Prepaid expenses and deferred charges | $583,704 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,628 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,898,244 |
| Total assets | $35,649,333 |
| Accounts payable and accrued expenses | $3,223,267 |
| Grants payable | $1,035,250 |
| Deferred revenue | $479,451 |
| 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 | $0 |
| Other liabilities | $2,441,562 |
| Total liabilities | $7,179,530 |
| Net assets without donor restrictions | $14,603,416 |
| Net assets with donor restrictions | $13,866,387 |
| 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 | $35,649,333 |
Grants Awarded
Over the last fiscal year, First Book has awarded $310,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
REACH OUT AND READ RI PURPOSE: Diverse book coalition | $25,000 |
BOOK HARVEST PURPOSE: Diverse book coalition | $25,000 |
REACH OUT AND READ BOSTON PURPOSE: Diverse book coalition | $25,000 |
PARENTS AS TEACHERS PURPOSE: Diverse book coalition | $25,000 |
AFT PURPOSE: Diverse book coalition | $25,000 |
REACH OUT AND READ GREATER NEW YORK PURPOSE: Diverse book coalition | $25,000 |