First Academy INC FY2022 filing

Tax-deductible

Bloomfield, CT501(c)(3)EducationEIN 06-1426905Revenue $575K in FY2022

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To provide a safe nurturing and developmentally appropriate program which fosters active learning support for the whole child

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$69K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $33K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$69K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$189K
258% of total assets
Concern: liabilities are 258% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$575K
-6% vs prior year
Spent
$604K
To programs
84%
Net assets
−$116K
By yearFY2020–FY2024
Revenue
$575K
FY2022▼ -6%
Revenue by fiscal year
FY2020$414K
FY2021$614K
FY2022$575K
FY2023$748K
FY2024$895K
Expenses
$604K
FY2022▲ +10%
Expenses by fiscal year
FY2020$472K
FY2021$551K
FY2022$604K
FY2023$784K
FY2024$667K
Net assets
−$116K
FY2022▼ -34%
Net assets by fiscal year
FY2020−$149K
FY2021−$86K
FY2022−$116K
FY2023−$152K
FY2024$76K

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2010-12-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Jan 2017.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $508K Management & general 16% · $96K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990; $69K paid to officers and key staff.

Part VII, Section A · reportable compensation
School Director
$61,000Pt VII · Sec A
$7,800Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Elith Howard’s $60K as School Director is at the 52nd percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Elith Howard$60,000$65,000$61,000$6,923—
Evoni Davis———$43,615$56,769
Venice Easterling$7,800$7,956$7,800$7,300$5,200

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See First Academy INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers safe, nurturing programs fostering active learning and support for children's development.

Provided by the organization

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1 program · $508K · in their own filed words · FY2022
01

Preschool and childcare program serving children and families in the Blue Hills neighborhood. Children participate in a variety of hands-on activities that help with school-readiness. Daily schedule includes arts and crafts, reading, math, pretend play, sensory-based activities, outdoor play and more.

$508Kprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$575K
Ln 12
Fees for servicesLn 2g$332K
Gifts and grantsLn 1h$243K
Money outPt IX
$604K
Ln 25
Programscol B$508K
Managementcol C$96K
Owns and owesPt X
−$116K
net assets · Ln 32
Cash and savingsLn 1–2$11K
Total assetsLn 16$73K
LiabilitiesLn 26$189K
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$243K
Government grantsLn 1e$243K
Fees for servicesLn 2g$332K
Gains on assetsLn 7$0
Total revenueLn 12$575K
Assets in detailPt X, end of year
CashLn 1$10K
SavingsLn 2$975
Cash and savings togetherLn 1–2$11K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$1
Total assetsLn 16$73K
LiabilitiesLn 26$189K
Net assetsLn 32−$116K
OperationsPt I, VI
EmployeesI 521
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$201K$11K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$262K$73K
LiabilitiesLn 26$349K$189K
Net assetsLn 32−$86K−$116K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$69K$12K$57K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$361K$350K$12K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$42K$35K$7K
Management feesLn 11a$0
Legal feesLn 11b$12K$12K
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$8K$8K
Advertising and promotionLn 12$0
Office expensesLn 13$3K$3K$148
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$49K$49K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$1K$1K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$7K$6K$1K
Other expenses (24a–d)Ln 24$52K$52K
All other expensesLn 24e$0
Total functional expensesLn 25$604K$508K$96K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $895K$667K$228K$76K 990 PDF
FY2023 $748K$784K−$36K−$152K 990 PDF
FY2022 Viewing $575K$604K−$29K−$116K 990 PDF
FY2021 $614K$551K$62K−$86K 990 PDF
FY2020 $414K$472K−$58K−$149K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $574,676 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $190,271$242,797
I-9 Program service revenuePrior year $423,296$331,879
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $613,567$574,676
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $373,325$471,986
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $177,971$132,086
I-18 Total expensesPrior year $551,296$604,072
I-19 Revenue less expensesPrior year $62,271−$29,396
Part VI · Governance 5 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $574,676 across 9 lines filed
VIII-1e Government grants$242,797
VIII-1h Total contributions, gifts and grants$242,797
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $331,879$331,879
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $331,879$574,676
Part IX · Statement of functional expenses $604,072 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $12,200 · Management $56,600$68,800
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $349,696 · Management $11,502$361,198
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $35,394 · Management $6,594$41,988
IX-11a Management fees$0
IX-11b Legal feesManagement $11,904$11,904
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $7,808$7,808
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $2,919 · Management $148$3,067
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $49,044$49,044
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $1,112$1,112
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $6,146 · Management $1,280$7,426
IX-24 Other expenses (24a–d)Programs $51,725$51,725
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $508,236 · Management $95,836 · Fundraising $0$604,072
Part X · Balance sheet $73,284 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $199,729$10,492
X-2 Savings and temporary cash investmentsStart of year $975$975
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $52,818$59,576
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $8,906$2,240
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$1
X-16 Total assetsStart of year $262,428$73,284
X-17 Accounts payable and accrued expensesStart of year $99,625$36,354
X-26 Total liabilitiesStart of year $348,881$189,133
X-27 Net assets without donor restrictionsStart of year −$86,453−$115,849
X-32 Total net assets or fund balancesStart of year −$86,453−$115,849
X-33 Total liabilities and net assetsStart of year $262,428$73,284
Part XI · Reconciliation of net assets −$115,849 net assets at year end
XI-1 Total revenue$574,676
XI-2 Total expenses$604,072
XI-3 Revenue less expenses−$29,396
XI-4 Net assets at start of year−$86,453
XI-10 Net assets at end of year−$115,849

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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