FERST READERS INC (EIN 582489181) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Legal Domicile

Principal Officer

DAVIDA MORGAN WASHINGTON

Phone

4044007710

Tax Period

2023-01-01 to 2023-12-31

FERST READERS INC, founded in 1999, is a community nonprofit in the Human Services sector that reported $2.7M in total revenue in fiscal year 2023. Revenue surged 48% from the prior year, signaling strong growth momentum. Expenses of $2.5M left a modest 9% surplus.

Mission

STRENGTHENING COMMUNITIES BY PROVIDING QUALITY BOOKS AND LITERACY RESOURCES FOR CHILDREN AND THEIR FAMILIES TO USE AT HOME DURING THE EARLIEST STAGES OF DEVELOPMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,570,243

Program Service Revenue $0

Investment Income $22,654

Other Revenue $136,045

TOTAL REVENUE $2,728,942

Expense Breakdown

Grants Paid $0

Salaries & Benefits $564,465

Fundraising Expenses $80,314

Program Expenses $2,245,036

Other Expenses $1,913,672

TOTAL EXPENSES $2,478,137

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,728,942	$1,848,340	+0.5%
Expenses	$2,478,137	$2,392,283	+0.0%
Net Income	$250,805	$-543,943	-1.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

750

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$109,273

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSANNAH BALISH	TREASURER	8.00	Officer Director	$0	$0	$0
MICHELLE VALTEAU	SECRETARY	6.00	Officer Director	$0	$0	$0
CHRIS BARGE	BOARD MEMBER	4.00	Officer Director	$0	$0	$0
VICKI CANSLER	BOARD MEMBER	2.00	Director	$0	$0	$0
DENISE FINLEY	BOARD MEMBER	2.00	Director	$0	$0	$0
MARGARET QUINLIN	BOARD MEMBER	6.00	Director	$0	$0	$0
WES TURNER	BOARD MEMBER	4.00	Director	$0	$0	$0
RAYNA WOODEN	BOARD MEMBER	2.00	Director	$0	$0	$0
AMY STOREY	BOARD MEMBER	6.00	Director	$0	$0	$0
BRITTANY COLLINS	BOARD MEMBER	4.00	Director	$0	$0	$0
CHAUNDRA LUCKETT	BOARD CHAIR	10.00	Director	$0	$0	$0
CYNTHIA PRICE CZABALA	BOARD MEMBER	4.00	Director	$0	$0	$0
DR CHRIS BEARDEN	BOARD MEMBER	4.00	Director	$0	$0	$0
DR SUSAN MCWHIRTER	BOARD MEMBER	4.00	Director	$0	$0	$0
ERIKA HILL	BOARD MEMBER	4.00	Director	$0	$0	$0
JANY BROWN	BOARD MEMBER	4.00	Director	$0	$0	$0
LAURI STRAUSS	VICE CHAIR	6.00	Director	$0	$0	$0
DAVIDA MORGAN-WASHINGTON	PRESIDENT / CEO	40.00	Officer	$0	$0	$109,273

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,728,942	$2,478,137	$2,103,064	$250,805
2022	$1,848,340	$2,392,283	$1,597,930	$-543,943
2021	$2,368,538	$1,998,344	$2,420,121	$370,194
2020	$1,927,302	$1,954,478	$1,920,921	$-27,176
2019	$1,879,782	$1,847,037	$2,030,839	$32,745
2018	$2,040,796	$1,625,594	$1,980,528	$415,202

FERST READERS INC