First Resources Corporation

Nonprofit profile at a glance

EIN
421279294
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Ottumwa, IA, USA
Phone
6416222543
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Vocational Rehabilitation

Official website

Reported finances

Revenue
$15,880,130
Expenses
$16,135,852
Assets
$7,970,497
Liabilities
$2,574,664

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

Leadership & pay

8 people listed

People named in this filing

  • HEIDI ALTFILLISCH (SECRETARY)
  • KEVIN CARR (BOARD MEMBER)
  • ELLEN MORELAND (CHAIRPERSON)

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

Provide community based rehabilitative treatment services to children, families and people with disabilities.

What it reported doing in 2024

Vocational services - vocational employment training and supported employment services within a community based setting are provided to people with disabilities. Substance abuse services - provides treatment including substance abuse evaluations, adult and youth intensive outpatient treatment, extended outpatient, continuing care, mental health therapist, onsite childcare for participants, and drug testing. Therapy services - provides therapy programs that are desinged to enhance traditional counseling experiences such as play therapy and art therapy.

Operating model

Revenue model
Earned-program. 87% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.4%; rating input score 79
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.6%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 79.4% of revenue deployed · 78.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $12.6M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.