Firsthome Iq FY2024 filing

Tax-deductible

Los Angeles, CA501(c)(3)Since 2023Youth DevelopmentEIN 92-2377727Revenue $269K in FY2024

On file with the IRSfirsthomeiq.com2135 Bellevue Ave Apt 5, 90026-4043 · Los Angeles, CATax-exempt since Feb 2024Publicly supported charity — 170(b)(1)(A)(vi)

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To deliver financial literacy and homeownership education, inspiration, and resources to the next generation.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$120K 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

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $16K a year · 6% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$120K
to officers and key staff · 48% of spending
Concern: pay to officers and key staff is 48% of spending; over 30%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$269K
+206% vs prior year
Spent
$252K
To programs
74%
Net assets
$27K
By yearFY2023–FY2025
Revenue
$269K
FY2024▲ +206%
Tap a bar for its year
Revenue by fiscal year
FY2023$88K
FY2024$269K
FY2025$289K
Expenses
$252K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2023Not on file
FY2024$252K
FY2025$273K
Net assets
$27K
FY2024▲ +159%
Tap a bar for its year
Net assets by fiscal year
FY2023$11K
FY2024$27K
FY2025$43K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2024.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $187K Management & general 8% · $20K Fundraising 18% · $45K

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

3 people listed on the 990; $120K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director and Secretary
$120,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Kristin Messerli’s $120K as Executive Director is at the 94th percentile of top reported officer pay among 1993 $100K–1M youth development 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 · 1 named individual · Part VII

NameFY2025FY2024
Kristin Messerli$120,000$120,000

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

Empowers young people with financial knowledge and homeownership skills.

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Provided by the organization

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1 program · $187K · in their own filed words · FY2024
01

We empower ambassadors across the country to be leaders on our MISSION.RESOURCES: ambassadors receive educational presentations, marketing resources, social media content, and more on a weekly basis.

$187Kprogram expense

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 · FY2024
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$269K
Ln 12
Gifts and grantsLn 1h$269K
Money outPt IX
$252K
Ln 25
Programscol B$187K
Managementcol C$20K
Fundraisingcol D$45K
Owns and owesPt X
$27K
net assets · Ln 32
Cash and savingsLn 1–2$27K
Total assetsLn 16$27K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$269K
Total revenueLn 12$269K
Assets in detailPt X, end of year
CashLn 1$27K
Cash and savings togetherLn 1–2$27K
Total assetsLn 16$27K
LiabilitiesLn 26$0
Net assetsLn 32$27K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$11K$27K
Total assetsLn 16$11K$27K
LiabilitiesLn 26$0$0
Net assetsLn 32$11K$27K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$120K$103K$7K$10K
Legal feesLn 11b$250$250
Accounting feesLn 11c$10K$10K
Professional fundraising feesLn 11e$4K$4K
Other fees for servicesLn 11g$59K$42K$17K
Advertising and promotionLn 12$12K$2K$9K
Office expensesLn 13$5K$4K$289
Information technologyLn 14$13K$11K$468$935
Conferences, conventions and meetingsLn 19$21K$21K
Other expenses (24a–d)Ln 24$8K$2K$2K$4K
Total functional expensesLn 25$252K$187K$20K$45K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $289K$273K$15K$43K 990 PDF
FY2024 Viewing $269K$252K$17K$27K 990 PDF
FY2023 $88K$11K 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 FY2024 990 (6 parts)
Part I · Summary $268,537 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $87,735$268,537
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $87,735$268,537
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 $0$120,000
I-16a Professional fundraising feesPrior year $0$4,043
I-17 Other expensesPrior year $77,155$127,649
I-18 Total expensesPrior year $77,155$251,692
I-19 Revenue less expensesPrior year $10,580$16,845
Part VI · Governance 2 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $268,537 across 3 lines filed
VIII-1f All other contributions, gifts and grants$268,537
VIII-1h Total contributions, gifts and grants$268,537
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$268,537
Part IX · Statement of functional expenses $251,692 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $103,200 · Management $7,200 · Fundraising $9,600$120,000
IX-11b Legal feesManagement $250$250
IX-11c Accounting feesManagement $9,625$9,625
IX-11e Professional fundraising feesFundraising $4,043$4,043
IX-11g Other fees for servicesPrograms $41,877 · Fundraising $17,360$59,237
IX-12 Advertising and promotionPrograms $2,150 · Fundraising $9,471$11,621
IX-13 Office expensesPrograms $4,301 · Management $289$4,590
IX-14 Information technologyPrograms $11,461 · Management $468 · Fundraising $935$12,864
IX-19 Conferences, conventions and meetingsPrograms $21,236$21,236
IX-24 Other expenses (24a–d)Programs $2,326 · Management $2,360 · Fundraising $3,540$8,226
IX-25 Total functional expensesPrograms $186,551 · Management $20,192 · Fundraising $44,949$251,692
Part X · Balance sheet $27,425 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $10,580$27,425
X-16 Total assetsStart of year $10,580$27,425
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $10,580$27,425
X-32 Total net assets or fund balancesStart of year $10,580$27,425
X-33 Total liabilities and net assetsStart of year $10,580$27,425
Part XI · Reconciliation of net assets $27,425 net assets at year end
XI-1 Total revenue$268,537
XI-2 Total expenses$251,692
XI-3 Revenue less expenses$16,845
XI-4 Net assets at start of year$10,580
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$27,425

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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