First Steps, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$4,002,843.60
Projected Expenses
$3,987,426.23
Organizational Budgets and Other Documents
IRS Letter of Exemption
| first steps, inc. irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $3,282,967.00 | $3,009,347.00 | $3,194,783.00 |
| Total Expenses | $3,111,669.00 | $2,827,820.00 | $2,751,384.00 |
| Revenue Less Expenses | $171,298.00 | $181,527.00 | $443,399.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $1,086,576.00 | $955,340.00 | $1,559,854.00 |
| Contributions, Gifts, and Grants | $597,055.00 | $586,655.00 | $401,768.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $1,552,635.00 | $1,449,323.00 | $1,182,727.00 |
| Investment Income, Net of Losses | $20,363.00 | $14,485.00 | $15,087.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $24,358.00 | $586,655.00 | $30,347.00 |
| Revenue In-Kind | $1,980.00 | $1,081.00 | $5,000.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $2,675,385.00 | $2,456,521.00 | $2,469,722.00 |
| Administration Expense | $278,365.00 | $236,158.00 | $200,997.00 |
| Fundraising Expense | $157,919.00 | $135,141.00 | $80,665.00 |
| Total Revenue/Total Expenses | 106% | 106% | 116% |
| Program Expense/Total Expenses | 86% | 87% | 90% |
| Fundraising Expense/Contributed Revenue | 5% | 5% | 3% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Program Revenue $1,552,635.00 | Program Revenue $1,449,323.00 | Government Grants $1,559,854.00 |
| Second Highest Funding Source & Dollar Amount | Government Grants $1,086,576.00 | Government Grants $955,340.00 | Program Revenue $1,182,727.00 |
| Third Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $597,055.00 | Contributions, Gifts, Grants $24,384.00 | Contributions, Gifts, and Grants $401,768.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $4,303,178.00 | $4,032,709.00 | $4,085,527.00 |
| Current Assets | $1,360,503.00 | $1,156,391.00 | $951,501.00 |
| Long-Term Liabilities | $235,671.00 | $287,773.00 | $337,359.00 |
| Current Liabilities | $193,052.00 | $132,747.00 | $116,763.00 |
| Total Net Assets | $3,874,455.00 | $3,612,189.00 | $3,631,405.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$1,158,270.95
What is the spending policy for your endowment?
N/A
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| First Steps has evolved over its long history from an almost fully governmentally funded entity to a nonprofit with a mission. The financial basis of the organization has shifted from government funding to a need to raise funds through special events, grants, foundations, and private/corporate contributions. The Board and staff have worked diligently to position the Agency so that current as well as potential funders understand the impact of their dollars that go directly to the quality programs they support. |
Foundation Staff Comments
| Financial figures taken from Form 990. Financials completed by Cherry Bekaert LLP. Comment provided by Hayley Sulfridge 1/25/24. |
