First Light Foundation

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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

2004

Legal Domicile

Principal Officer

Chelsea Congdon

Phone

9703196395

Tax Period

2025-01-01 to 2025-12-31

First Light Foundation, founded in 2004, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $590 in total revenue in fiscal year 2025. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $91K exceeded revenue, resulting in a 15268% operating deficit.

Mission

First Light Foundation makes films about environmental issues that rely on public support since they lack sufficient commercial value to interest commercial film producers.

Program Service Accomplishments

Program 1

Expenses: $90,669 Revenue: $0

First Light Foundation raises funds for and sponsors non-commercial non-profit film and communication projects about environmental issues as these often lack sufficient funding and must rely on...

First Light Foundation raises funds for and sponsors non-commercial non-profit film and communication projects about environmental issues as these often lack sufficient funding and must rely on philantrhopic contributions. The current media and communications project sponsored by First Light Foundation is the Global Biodiversity Narrative Project (which was renamed Kinship) in 2024.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $590

Other Revenue $0

TOTAL REVENUE $590

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $90,669

Other Expenses $90,669

TOTAL EXPENSES $90,669

Year-over-Year Comparison

	2025	2024	Change
Revenue	$590	$142,940	-1.0%
Expenses	$90,669	$258,089	-0.6%
Net Income	$-90,079	$-115,149	-0.2%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christopher Taylor	Director	1.00	Director	$0	$0	$0
Tim McFlynn	Director	1.00	Director	$0	$0	$0
Harvey Locke	Director	1.00	Director	$0	$0	$0
Chelsea Congdon	President	6.00	Director	$0	$0	$0
Vance Martin	Director	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
2025	$590	$90,669	No data	$-90,079
2024	$142,940	$258,089	$90,079	$-115,149
2023	$245,573	$179,062	$205,228	$66,511
2021	$205,962	$121,445	$173,755	$84,517
2020	$250,361	$217,702	$89,830	$32,659