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Mission and Programs

Mission

First Book is a nonprofit organization with a simple mission:  to provide children from low-income families the opportunity to read and own their first new books.  Since 1992 First Book has placed more than 55 million new books into the hands of children in need in thousands of communities nationwide.

Programs

The First Book Marketplace is an award-winning Web site that offers high-quality books at deeply discounted prices exclusively to programs serving children in need.

Program / Activities (NTEE Code)

Alliance/Advocacy Organizations
Alliance/Advocacy Organizations
Alliance/Advocacy Organizations

Accomplishments for Fiscal Year Ending 12/31/2007

1. The Marketplace allows programs to develop curriculum in a way previously impossible, revolutionizing the way they teach the hardest-to-reach children.
2. 2. In 2005 First Book launched Book Relief, the nation?s most comprehensive effort to bring five million new books to the children and families who lost everything in the 2005 hurricanes along the Gulf Coast. Book Relief was successfully completed in less than two years, with 5.1 million books distributed to more than 2,500 groups along the Gulf.
3. 3. In 2007 First Book celebrated the distribution of its 50 millionth book given to children in need ? more than 40 million of these in the last six years alone.

1. 1. Increase the number of children we serve, nationally and globally, with a steady stream of high quality books
2. 2. Make available a wide array of the highest-quality books and educational materials to children in need
3. 3. Wipe out illiteracy

The effectiveness of First Book?s model has been verified by noted pollster Louis Harris. A study specifically aimed at assessing the impact of the First Book program found that the percent of children who experienced an increased interest in reading doubled in one study and nearly tripled in the second. 90% of those involved with First Book ?felt an enormous difference in their lives.?

Additional Comments

? First Book was named one of 10 Gold Star Charities by Forbes Magazine; awarded the Four Star ?Exceptional? (highest) rating by Charity Navigator; and named winner of the Social Capitalist Award from Fast Company Magazine and Monitor Group for four consecutive years. In 2007 the Schwab Foundation for Social Entrepreneurship named First Book President and Co-Founder Kyle Zimmer Social Entrepreneur of the Year in the United States. First Book also received the 2005 Authors Guild Award for Distinguished Service to the Literary Community ? the only time the award has been given to an organization.
? Over 97% of First Book?s operating budget is spent on in direct service of our mission.

Financial Data
From the organization's FORM 990

Revenue and Expenses: Fiscal Year Ending December 31, 2006

Revenue			Expenses
Contributions $39,430,540 Government Grants $0 Program Services $1,174,416 Investments $86,958 Special Events $0 Sales $0 Other $9,868			Program Services $53,112,667 Administration $626,451 Other $581,539 Total Expenditures $54,320,657
Total Revenue	$40,701,782		NET GAIN/LOSS	$(13,618,875)

Balance Sheet: Fiscal Year Ending December 31, 2006

Notes
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot long survive, but the types of assets and liabilities also must be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Assets	Jan 1, 2006	Dec 31, 2006	Change
Cash & Equivalent	$2,884,769	$2,655,338	$(229,431)
Accounts Receivable	$205,592	$298,048	$92,456
Pledges & Grants Receivable	$934,803	$326,757	$(608,046)
Receivables/Other	$0	$0	$0
Inventories for Sale or Use	$15,309,684	$2,734,747	$(12,574,937)
Investments/Securities	$4,539	$7,013	$2,474
Investments/Other	$0	$0	$0
Fixed Assets	$42,014	$28,116	$(13,898)
Other	$229,195	$149,521	$(79,674)
Total Assets	$19,610,596	$6,199,540	$(13,411,056)
Liabilities	Jan 1, 2006	Dec 31, 2006	Change
Accounts Payable	$209,659	$366,788	$157,129
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$0	$62,577	$62,577
Total Liabilities	$209,659	$429,365	$219,706
FUND BALANCE	$19,400,937	$5,770,175	$(13,630,762)

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