Ferst Readers INC: FY2023 Nonprofit Profile & Form 990 (EIN 58-2489181)

Davida Morgan-Washington’s $135K as President / CEO is at the 65th percentile of top reported officer pay among 3869 $1–10M human services 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 · 2 named individuals · Part VII

Name	FY2024	FY2021	FY2020
Davida Morgan-Washington	$135,015	$103,238	$57,280
Amy Zygler	—	—	$59,631

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.

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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 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides books and literacy resources to strengthen communities and support early childhood development.

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3 programs · $2.2M · in their own filed words · FY2023

01

Children, birth to five, who participate in the ferst readers program receive a free, age-appropriate book every month in the mail along with literacy support resources for parents that help create a language-rich environment in the home.

$2.2Mprogram expense

02

Ferst readers administers the georgia rural libraries initiative which provides multi-year grants to two county libraries in rural communities in georgia. These grants serve to enhance the availability of early childhood learning resources in rural communities primarily through existing public libraries.

Pt IX · col B

03

Ferst readers serves as the fiscal agent for toombs county family CONNECTION/GET toombs county reading campaign, a local collaboration that supports the statewide "get georgia reading" campaign, through grants from the literacy for all fund.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2025

Taste of the South CommitteeFY2025$47K

Jackson Emc Foundation INC Attn Amy RouseFY2025$21K

Coastal Emc Foundation INCFY2025$20K

Roberts Foundation INCFY2025$5K

The Gendell Family Foundation INCFY2025$250

Total grants receivedfrom 5 funders$93K

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By the numbers

The FY2023 990, line by line.

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1The main four

Money inPt VIII

$2.7M

Ln 12

Gifts and grantsLn 1h$2.6M

Other incomeLn 4–11$136K

Investment incomeLn 3$23K

Money outPt IX

$2.5M

Ln 25

Programscol B$2.2M

Managementcol C$153K

Fundraisingcol D$80K

Owns and owesPt X

$2.0M

net assets · Ln 32

Cash and savingsLn 1–2$598K

Total assetsLn 16$2.1M

LiabilitiesLn 26$146K

PeoplePt VI, VII

18

listed · VII A

PaidVII A0

Voting boardVI 1a17

IndependentVI 1b17

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.6M

Government grantsLn 1e$132K

Noncash giftsLn 1g$15K

Investment incomeLn 3$23K

Other incomeLn 4–11$136K

Total revenueLn 12$2.7M

Assets in detailPt X, end of year

CashLn 1$598K

Cash and savings togetherLn 1–2$598K

InvestmentsLn 11–13$1.3M

Land, buildings, equipmentLn 10c$4K

Other assetsLn 15$62K

Total assetsLn 16$2.1M

LiabilitiesLn 26$146K

Net assetsLn 32$2.0M

OperationsPt I, VI

EmployeesI 510

VolunteersI 60

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$235K	$598K
InvestmentsLn 11–13	$1.3M	$1.3M
Land, buildings, equipmentLn 10c	$6K	$4K
Total assetsLn 16	$1.6M	$2.1M
LiabilitiesLn 26	$19K	$146K
Net assetsLn 32	$1.6M	$2.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$109K	$87K	$9K	$13K
Other salaries and wagesLn 7	$404K	$323K	$32K	$48K
Pension plan contributionsLn 8	$11K	$9K	$902	$1K
Payroll taxesLn 10	$40K	$32K	$3K	$5K
Accounting feesLn 11c	$34K		$34K
Other fees for servicesLn 11g	$45K		$45K
Advertising and promotionLn 12	$2K	$1K		$975
Office expensesLn 13	$22K	$17K	$2K	$3K
Information technologyLn 14	$43K	$23K	$15K	$5K
OccupancyLn 16	$676	$338	$338
TravelLn 17	$3K	$3K
Conferences, conventions and meetingsLn 19	$2K	$1K	$725	$174
Depreciation, depletion and amortizationLn 22	$2K	$2K	$137	$59
InsuranceLn 23	$2K	$356	$2K	$44
Other expenses (24a–d)Ln 24	$1.7M	$1.7M	$7K	$0
All other expensesLn 24e	$12K	$7K	$1K	$4K
Total functional expensesLn 25	$2.5M	$2.2M	$153K	$80K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$2.2M	$2.5M	−$282K	$1.7M	990 PDF
FY2023 Viewing	$2.7M	$2.5M	$251K	$2.0M	990 PDF
FY2022	$1.8M	$2.4M	−$544K	$1.6M	990 PDF
FY2021	$2.4M	$2.0M	$370K	$2.3M	990 PDF
FY2020	$1.9M	$2.0M	−$27K	$1.9M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2023 990 (6 parts)

Part I · Summary $2,728,942 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,900,238$2,570,243

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year −$139,213$22,654

I-11 Other revenuePrior year $87,315$136,045

I-12 Total revenuePrior year $1,848,340$2,728,942

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $683,619$564,465

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $1,708,664$1,913,672

I-18 Total expensesPrior year $2,392,283$2,478,137

I-19 Revenue less expensesPrior year −$543,943$250,805

Part VI · Governance 17 of 17 board members independent, no flags

VI-1a Voting members of the governing body17

VI-1b Independent voting members17

VI-2 Family or business relationship among officers or directorsNo

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 $2,728,942 across 8 lines filed

VIII-1a Federated campaigns$540,129

VIII-1e Government grants$132,176

VIII-1f All other contributions, gifts and grants$1,897,938

VIII-1g Noncash contributions (included above)$14,878

VIII-1h Total contributions, gifts and grants$2,570,243

VIII-3 Investment incomeExcluded from tax $22,654$22,654

VIII-8 Net income from fundraising eventsExcluded from tax $136,045$136,045

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $158,699$2,728,942

Part IX · Statement of functional expenses $2,478,137 across 16 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $87,419 · Management $8,742 · Fundraising $13,113$109,274

IX-7 Other salaries and wagesPrograms $323,193 · Management $32,319 · Fundraising $48,479$403,991

IX-8 Pension plan contributionsPrograms $9,019 · Management $902 · Fundraising $1,353$11,274

IX-10 Payroll taxesPrograms $31,941 · Management $3,194 · Fundraising $4,791$39,926

IX-11c Accounting feesManagement $34,040$34,040

IX-11g Other fees for servicesManagement $45,075$45,075

IX-12 Advertising and promotionPrograms $1,212 · Fundraising $975$2,187

IX-13 Office expensesPrograms $16,786 · Management $2,298 · Fundraising $2,889$21,973

IX-14 Information technologyPrograms $23,328 · Management $14,857 · Fundraising $4,578$42,763

IX-16 OccupancyPrograms $338 · Management $338$676

IX-17 TravelPrograms $2,676$2,676

IX-19 Conferences, conventions and meetingsPrograms $1,389 · Management $725 · Fundraising $174$2,288

IX-22 Depreciation, depletion and amortizationPrograms $1,758 · Management $137 · Fundraising $59$1,954

IX-23 InsurancePrograms $356 · Management $1,662 · Fundraising $44$2,062

IX-24 Other expenses (24a–d)Programs $1,738,493 · Management $7,083 · Fundraising $0$1,745,576

IX-24e All other expensesPrograms $7,128 · Management $1,415 · Fundraising $3,859$12,402

IX-25 Total functional expensesPrograms $2,245,036 · Management $152,787 · Fundraising $80,314$2,478,137

Part X · Balance sheet $2,103,064 assets, 15 lines filed

X-1 Cash, non-interest-bearingStart of year $235,196$598,493

X-3 Pledges and grants receivable$50,000

X-4 Accounts receivableStart of year $7,402$46,875

X-8 Inventories for sale or useStart of year $57,626$33,246

X-10c Land, buildings and equipment, netStart of year $5,605$3,652

X-12 Other securitiesStart of year $1,268,750$1,308,987

X-15 Other assetsStart of year $23,351$61,811

X-16 Total assetsStart of year $1,597,930$2,103,064

X-17 Accounts payable and accrued expensesStart of year $3,635$137,392

X-25 Other liabilitiesStart of year $11,475$5,784

X-26 Total liabilitiesStart of year $19,468$146,498

X-27 Net assets without donor restrictionsStart of year −$178,470$65,980

X-28 Net assets with donor restrictionsStart of year $1,756,932$1,890,586

X-32 Total net assets or fund balancesStart of year $1,578,462$1,956,566

X-33 Total liabilities and net assetsStart of year $1,597,930$2,103,064

Part XI · Reconciliation of net assets $1,956,566 net assets at year end

XI-1 Total revenue$2,728,942

XI-2 Total expenses$2,478,137

XI-3 Revenue less expenses$250,805

XI-4 Net assets at start of year$1,578,462

XI-5 Net unrealized gains (losses) on investments$127,299

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,956,566

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Ferst Readers INC FY2023 filing

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