Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $578,971

• 1e · Government grants (contributions)

  $4,535,857

• 1f · All other contributions, gifts and grants

  $39,373,824

• 1g · Noncash contributions included above

  $5,251,258

• 2a · Program service revenue: Team Participation Fees

  total $36,649,498 · related or exempt $36,649,498

• 2b · Program service revenue: Hotel Commissions

  total $796,326 · excluded $796,326

• 3 · Investment income

  total $2,284,615 · excluded $2,284,615

• 6a · Gross rents

  real property $77,172

• 6b · Less rental expenses

  real property $49,344

• 6c · Rental income or loss

  real property $27,828

• 6d · Net rental income or loss

  total $27,828 · excluded $27,828

• 7a · Gross sales of assets other than inventory

  securities $193,560

• 7b · Less cost or other basis and sales expenses

  securities $193,692

• 7c · Gain or loss

  securities -$132

• 7d · Net gain or loss

  total -$132 · excluded -$132

• 8a · Fundraising events: gross income

  $49,985

• 8a · Fundraising events: contributions included on line 1c

  $578,971

• 8b · Fundraising events: direct expenses

  $423,246

• 8c · Net income from fundraising events

  total -$373,261 · excluded -$373,261

• 11a · Other revenue: Consignment Sales & Misc. Income

  total $947,102 · excluded $947,102

• 11e · Other revenue, total

  $947,102

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $26,067,300 · program services $26,067,300

• 2 · Grants to domestic individuals

  total $224,950 · program services $224,950

• 3 · Grants to foreign organizations and individuals

  total $2,514,532 · program services $2,514,532

• 5 · Compensation of officers, directors and key employees

  total $2,677,700 · program services $1,823,068 · management and general $497,825 · fundraising $356,807

• 7 · Other salaries and wages

  total $16,510,645 · program services $12,934,987 · management and general $2,453,509 · fundraising $1,122,149

• 8 · Pension plan contributions

  total $729,911 · program services $568,596 · management and general $111,350 · fundraising $49,965

• 9 · Other employee benefits

  total $2,041,174 · program services $1,559,480 · management and general $310,679 · fundraising $171,015

• 10 · Payroll taxes

  total $1,385,644 · program services $1,072,640 · management and general $207,338 · fundraising $105,666

• 11b · Fees: legal

  total $127,090 · program services $93,463 · management and general $32,201 · fundraising $1,426

• 11c · Fees: accounting

  total $48,484 · program services $34,700 · management and general $13,255 · fundraising $529

• 11d · Fees: lobbying

  total $212,840 · program services $152,329 · management and general $58,187 · fundraising $2,324

• 11g · Fees: other

  total $2,042,828 · program services $1,473,028 · management and general $446,815 · fundraising $122,985

• 12 · Advertising and promotion

  total $1,726,506 · program services $1,249,476 · management and general $368,591 · fundraising $108,439

• 13 · Office expenses

  total $530,484 · program services $409,491 · management and general $108,547 · fundraising $12,446

• 14 · Information technology

  total $1,314,991 · program services $945,453 · management and general $340,067 · fundraising $29,471

• 16 · Occupancy

  total $485,704 · program services $354,286 · management and general $126,371 · fundraising $5,047

• 17 · Travel

  total $1,703,005 · program services $1,315,229 · management and general $327,701 · fundraising $60,075

• 19 · Conferences, conventions and meetings

  total $417,381 · program services $308,341 · management and general $93,072 · fundraising $15,968

• 20 · Interest

  total $18,187 · program services $18,187

• 22 · Depreciation, depletion and amortization

  total $837,669 · program services $707,893 · management and general $87,767 · fundraising $42,009

• 23 · Insurance

  total $534,804 · program services $473,204 · management and general $59,234 · fundraising $2,366

• 24a · Other expenses: Add'l Robot/Event Costs

  total $17,543,681 · program services $14,638,802 · management and general $2,713,193 · fundraising $191,686

• 24b · Other expenses: Volunteer Related Costs

  total $1,583,748 · program services $1,201,557 · management and general $367,514 · fundraising $14,677

• 24c · Other expenses: Other Costs & Expenses

  total $1,002,036 · program services $877,067 · management and general $92,034 · fundraising $32,935

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,080,899 · end of year $12,097,399

• 2 · Savings and temporary cash investments

  beginning of year $36,592,590 · end of year $40,477,534

• 3 · Pledges and grants receivable

  beginning of year $15,013,490 · end of year $12,355,154

• 4 · Accounts receivable

  beginning of year $4,478,557 · end of year $3,496,481

• 8 · Inventories for sale or use

  beginning of year $1,781,173 · end of year $1,132,055

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,376,307 · end of year $1,595,137

• 10a · Land, buildings and equipment: cost or other basis

  $20,105,257

• 10b · Land, buildings and equipment: accumulated depreciation

  $14,589,032

• 10c · Land, buildings and equipment, net

  beginning of year $3,956,671 · end of year $5,516,225

• 15 · Other assets

  beginning of year $0 · end of year $373,579

• 17 · Accounts payable and accrued expenses

  beginning of year $6,760,999 · end of year $5,920,782

• 19 · Deferred revenue

  beginning of year $1,512,349 · end of year $2,028,156

• 25 · Other liabilities

  beginning of year $0 · end of year $373,579

• 27 · Net assets without donor restrictions

  beginning of year $33,420,564 · end of year $36,650,253

• 28 · Net assets with donor restrictions

  beginning of year $32,585,775 · end of year $32,070,794

The filer's explanations (Part III)

Part I, Line 7

The Talent and Compensation Committee may grant discretionary performance incentives which, if granted, are determined after the fiscal year-end based on an individual employee's efforts and the overall FIRST financial outlook. Before receiving an incentive award, each Officer or Director's base compensation is reviewed, relative to the Talent and Compensation Committee's recommended parameters. Incentive compensation was paid in fiscal year 2024 (accrued in fiscal year 2023) to members of the leadership team. In June 2023 and December 2023 all FIRST employees, except for the CEO, were granted fiscal year bonuses and holiday gifts (bonuses), respectfully; these are reported on page 2, column B(ii).

Part II, column (C):

Deferred compensation is the contribution made by FIRST to the employee's 401(k) account.

Part II, column (D):

Non-taxable benefits are comprised of health, vision care, dental insurance premiums, and, if applicable, flexible spending accounts for health and dependent care. Some of the employees listed made contributions either towards health, vision care, and dental insurance; some did so for all of these. Some of the employees listed made contributions to a flexible spending account.