FIRST Contractors Inc

Nonprofit profile at a glance

EIN
542029949
IRS 990 coverage
2013–2020
Forms available
Form 990 2020
Location
Richmond, VA, USA
Phone
8043299669
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$141,634
Expenses
$145,173
Assets
$30,897
Liabilities
$175,569

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Larry Lindsey (President)

Highest reported compensation

  • Larry Lindsey (President): $21,875 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

First Contractors was established in 2001 for job training and life skills development

What it reported doing in 2020

Job readiness program for Youth ages 16-21. Total youth enrolled to receive training in carpentry, inventory management, office management, lawn care, job training, and life skills workshops.

Operating model

Revenue model
Earned-program. 80% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 83
  • Accountability: 74
  • Sustainability: 20
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.9%; rating input score 76
  • Program expense ratio: 74.1%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.5%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 5.68; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: -10.5% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -6.6% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 15.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 75.9% of revenue deployed · 74.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $108K in reported program spending
  • Leadership: top reported pay $22K · 4 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2013 to 2020
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.