BBB Wise Giving Report for
First Book

BBB Wise Giving Report issued February 2011
BBB Wise Giving Report expires February 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: First Book
Address: 1319 F Street NW, Suite 1000
  Washington, DC 20004
Phone: 202-393-1222
Web Address: www.firstbook.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 1992, District of Columbia
Affiliates: None
Stated Purpose: "to provide new books to programs serving low-income children, providing them access to affordable resources and elevating the quality of their organizations."

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Evaluation Conclusions

               

First Book (FB) meets the 20 Standards for Charity Accountability.
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Programs

               

FB reports that it reaches community and school-based programs serving children in need and offers them resources. The organization also distributes books through its National Book Bank, a centralized online service that receives in-kind contributions from publishers.

For the year ended December 31, 2009, FB's program expenses were:

  
Program services 41,615,322
Total Program Expenses: $41,615,322
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Governance

               

Chief Executive : Kyle Zimmer, President and CEO
Compensation*:
 $135,000

Chair of the Board: Peter F. Gold
Chair's Profession / Business Affiliation: Attorney

Board Size: 12

Paid Staff Size: 45

*2009 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Grant proposals, Internet appeals, and cause-related marketing.
Fund raising costs were 1% of related contributions. (Related contributions, which totaled $44,446,065, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on FB's audited financial statements for the year ended December 31, 2009.

Source of Funds  
Contributed goods 36,791,996
Public support 4,159,912
Contributions 3,494,157
RTL partnership 294,104
Interest and dividends 17,897
Realized gain on currency exchange 8,405
Unrealized gain on investments 3,936
Realized loss in investment -75
Total Income $44,770,332


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Uses of Funds as a % of Total Expenses

Programs: 97%  Fund Raising: 1%  Administrative: 2% 

Total income   $44,770,332
  Program expenses $41,615,322
  Fund raising expenses 618,255
  Administrative expenses 655,010
 
Total expenses   $42,888,587
Income in Excess of Expenses   1,881,745
Beginning net assets   6,643,376
Ending net assets   8,525,121
Total liabilities   1,833,638
Total assets   $10,358,759

Note: For the year ended December 31, 2009, FB had in-kind income in the amount of $36,791,996 for books.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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