First Fridays at Five

Nonprofit profile at a glance

EIN
521732471
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2018
Location
Roanoke, VA, USA
Phone
5407765348
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Voluntarism Promotion

Official website

Reported finances

Revenue
$148,555
Expenses
$142,336
Assets
$39,499
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • MOLLY HENRY (PRESIDENT)

People named in this filing

  • ROBERT BENNETT (DIRECTOR)
  • DAVID CAMPER (PAST PRESIDE)
  • RONNIE CASSELL (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To raise money for local non-profit organizations through outdoor summer concerts.

What it reported doing in 2024

Distributed 48,000 to local non-profit organizations.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.

The verdict

STRONG - 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: 87
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 45
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.8%; rating input score 96
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 4.2%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -0.8% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -6.4% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 95.8% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $142K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 9 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Growth: Asset growth scored 0/100.