First Story

Nonprofit profile at a glance

EIN
911755886
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Bend, OR, USA
Phone
5417280830
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$4,843,342
Expenses
$2,468,601
Assets
$24,294,127
Liabilities
$159,368

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Mathew Robinson (President)
  • CLAIRE DUNCAN (EXECUTIVE DIRECTOR)

People named in this filing

  • GEORGE SLAPE (Trustee)
  • LEVI MEANS (Trustee)
  • DENNIS MURPHY (Trustee)

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

First story provides quality affordable housing through a 30-year, zero-interest and zero-down home loan to lower-income families (defined as below 80% of area median income). In addition, first story provides financial support to low-income individuals, persons in need and at-risk youth and funding for housing/shelter services, hunger relief, emergency aid, and/or support to other organizations aligned with the corporations mission.

What it reported doing in 2024

Provide assistance and financial support to low-income families, persons in need and at-risk youth, provide funding for housing/shelter services, emergency relief and/or support to other organizations aligned with the corporation's mission.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 90% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 91
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.3%; rating input score 48
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: $28.84 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 49%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 9.84; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 48.3% of revenue deployed · 89.7% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Highest-paid contractors: 2 contractors listed · $874K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.