FOUNDERS FIRST COMMUNITY DEVELOPME… - Form 990 Financial Data

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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

2005

Legal Domicile

Principal Officer

SHAYLON SCOTT

Phone

6198695815

Tax Period

2024-01-01 to 2024-12-31

FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC, founded in 2005, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 72% from the prior year, signaling strong growth momentum. Expenses of $5.3M exceeded revenue, resulting in a 126% operating deficit.

Mission

HELP UNDERSERVED, UNDER-REPRESENTED SMALL BUSINESS OWNERS OVERCOME CHALLENGES THEY FACE DUE TO LACK OF ACCESS TO CAPITAL AND TO ASSIST THEM IN INCREASING BUSINESS CAPACITY RESULTING IN HIGHER REVENUE GROWTH AND PROVIDING MORE JOBS.

Program Service Accomplishments

Program 1

Expenses: $1,599,948 Revenue: $13,455

FastPath:FastPath is designed for companies generating $1 million to $5 million in annual revenues. The program is best suited for successful Founder/CEOs, needing up to $1 million in growth capital as well as professional development, including leadership skills, confidence, and vision to overcome challenges and realize opportunities in accelerating revenue growth.

Program 2

Expenses: $1,357,950

Bootcamp:Bootcamp is for entrepreneurs with established businesses, earning a minimum of $250K in annual revenue, who want to achieve rapid growth. 90-day, weekly online 12 group sessions. Onsite...

Bootcamp:Bootcamp is for entrepreneurs with established businesses, earning a minimum of $250K in annual revenue, who want to achieve rapid growth. 90-day, weekly online 12 group sessions. Onsite Pitch and Graduation Event in La Jolla, CA, with opportunity to compete for up to $7,500 cash and service prizes. Learn what it takes to develop an effective growth and funding plan that gets funders to say yes to your request to fund your business growth. Includes 9-months of post-program support coaching and support.

Program 3

Expenses: $740,500

Passport to Funding A five hour, online, interactive, self-paced certification program designed to educate and guide small business owners through the major hurdles stopping them from obtaining the growth funding they need to fund and grow their business. This program is intended for small and medium businesses generating $50,000 to $10,000,000 in annual revenues.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,330,065

Program Service Revenue $13,455

Investment Income $15

Other Revenue $0

TOTAL REVENUE $2,343,535

Expense Breakdown

Grants Paid $401,000

Salaries & Benefits $285,215

Fundraising Expenses $109,861

Program Expenses $4,750,809

Other Expenses $4,615,146

TOTAL EXPENSES $5,301,361

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,343,535	$1,361,350	+0.7%
Expenses	$5,301,361	$1,966,296	+1.7%
Net Income	$-2,957,826	$-604,946	+3.9%

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

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

$121,070

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHAYLON SCOTT	Executive Dir.	40.00	Officer	$107,461	$13,609	$121,070
KIM FOLSOM	Chairman	15.00	Officer Director	$0	$0	$0
SULAIMAN RAHMAN	Treasurer	1.00	Officer Director	$0	$0	$0
RANDY FRISCH	Trustee	1.00	Director	$0	$0	$0
ROHAN KALE	Trustee	1.00	Director	$0	$0	$0
SHARON PAYNE	Trustee	1.00	Director	$0	$0	$0
YADIRA ESQUEDA	Trustee	1.00	Director	$0	$0	$0
MAURICE WILSON	Secretary	1.00	Officer Director	$0	$0	$0
TAMMIE MARCELENO	Trustee	1.00	Director	$0	$0	$0
CATHERINE COSTA	Vice President	1.00	Officer Director	$0	$0	$0
KURTIS TREVAN	Trustee	1.00	Director	$0	$0	$0
TONY BIALORUCK	Trustee	1.00	Director	$0	$0	$0

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	$2,343,535	$5,301,361	$662,029	$-2,957,826
2023	$4,463,178	$5,631,735	$2,694,259	$-1,168,557
2023	$1,361,350	$1,966,296	$2,510,413	$-604,946
2022	$3,075,120	$2,809,172	$1,528,919	$265,948
2021	$1,524,147	$1,066,878	$630,877	$457,269
2020	$316,598	$323,350	$513,652	$-6,752
2019	$643,806	$139,707	$522,326	$504,099

FOUNDERS FIRST COMMUNITY DEVELOPMENT CORPORATION INC