FIRST STATE EDUCATE INC

EIN: 842554991 501(c)(3) Education

WILMINGTON, DE

Total Revenue
$695,701
Total Expenses
$429,990
Total Assets
$1,133,589
Net Assets
$1,133,589
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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
2019
Legal Domicile
DE
Principal Officer
JULIA KELEHER
Phone
2023227373
Tax Period
2024-01-01 to 2024-12-31

FIRST STATE EDUCATE INC, founded in 2019, is a small nonprofit in the Education sector that reported $696K in total revenue in fiscal year 2024. Revenue surged 674% from the prior year, signaling strong growth momentum. The organization ran a surplus of $266K, a strong 38% operating margin.

Mission

A DELAWARE WHERE EVERY SCHOOL BOARD IS EQUIPPED WITH THE KNOWLEDGE, TOOLS, AND RESOURCES TO LEAD WITH EXCELLENCE, FOSTERING THRIVING SCHOOLS AND ENGAGED COMMUNITIES DEDICATED TO STUDENT SUCCESS.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

N/A

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $677,910
Program Service Revenue $0
Investment Income $17,791
Other Revenue $0
TOTAL REVENUE $695,701

Expense Breakdown

Grants Paid $0
Salaries & Benefits $130,801
Fundraising Expenses $0
Other Expenses $299,189
TOTAL EXPENSES $429,990

Year-over-Year Comparison

2024 2023 Change
Revenue $695,701 $89,831 +6.7%
Expenses $429,990 $477,757 -0.1%
Net Income $265,711 $-387,926 -1.7%
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

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Governance

Voting Members
6
Independent Members
6
Employees
2
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
1
$170,195
Total Directors
7
$170,195
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DESA BURTON BOARD MEMBER 2.00
Director
$0 $0 $0
JACK PERRY BOARD MEMBER 2.00
Director
$0 $0 $0
THERE DU PONT BOARD MEMBER 2.00
Director
$0 $0 $0
JAMES KELLY BOARD MEMBER 2.00
Director
$0 $0 $0
SAMANTHA LOPEZ BOARD MEMBER 2.00
Director
$0 $0 $0
JOCELYN STEWART BOARD MEMBER 2.00
Director
$0 $0 $0
JULIA KELEHER EXECUTIVE DIRECTOR 35.00
Officer Director
$102,988 $0 $170,195
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 $695,701 $429,990 $1,133,589 $265,711
2024 $695,701 $429,990 $1,133,589 $265,711
2023 $89,831 $477,757 $870,762 $-387,926
2022 $705,044 $420,292 $1,278,870 $284,752
2021 $232,383 $308,748 $987,430 $-76,365
2020 $926,051 $245,857 $1,062,110 $680,194
2019 $562,575 $195,352 $418,702 $367,223
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