FIRST STEPS KENT (EIN 270640886) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

JENNIFER HEADLEY-NORDMAN

Phone

6166321003

Tax Period

2023-10-01 to 2024-09-30

FIRST STEPS KENT, founded in 2009, is a mid-sized nonprofit in the Education sector that reported $13.0M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. Expenses of $11.9M left a modest 8% surplus.

Mission

TO CREATE A COORDINATED, INTEGRATED SYSTEM OF EARLY CHILDHOOD SERVICES THAT SUPPORTS ALL FAMILIES IN KENT COUNTY SO EVERY YOUNG CHILD IN KENT COUNTY WILL ENTER KINDERGARTEN READY TO SUCCEED IN SCHOOL AND IN LIFE. THE ORGANIZATION'S MOST SIGNIFICANT ACTIVITY WAS OBTAINING GRANTS AND DONATIONS TO IMPLEMENT, INCREASE, STRENGTHEN, AND COORDINATE THE NETWORK OF EARLY CHILDHOOD SERVICES IN KENT COUNTY, MICHIGAN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,924,797

Program Service Revenue $0

Investment Income $0

Other Revenue $40,359

TOTAL REVENUE $12,965,156

Expense Breakdown

Grants Paid $9,996,503

Salaries & Benefits $1,106,382

Fundraising Expenses $151,541

Program Expenses $11,389,446

Other Expenses $828,083

TOTAL EXPENSES $11,930,968

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,965,156	$10,520,422	+0.2%
Expenses	$11,930,968	$10,890,715	+0.1%
Net Income	$1,034,188	$-370,293	-3.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$166,461

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATE PEW WOLTERS	CO-CHAIR	1.00	Officer Director	$0	$0	$0
LEW CHAMBERLIN	CO-CHAIR	1.00	Officer Director	$0	$0	$0
JOSH SAYLES	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
LEAH ATKINS	PARENT LEADER	1.00	Director	$0	$0	$0
AMANDA BARBOUR	DIRECTOR	1.00	Director	$0	$0	$0
GUILLERMO CISNEROS	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN CLAY	DIRECTOR	1.00	Director	$0	$0	$0
REV HOWARD C EARLE JR	DIRECTOR	1.00	Director	$0	$0	$0
HANNA C JAWORSKI MD	DIRECTOR	1.00	Director	$0	$0	$0
MELINDA JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
RON KOEHLER	DIRECTOR	1.00	Director	$0	$0	$0
FLORA MA	PARENT LEADER	1.00	Director	$0	$0	$0
KRASHAWN MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
SEAN WELSH	DIRECTOR	1.00	Director	$0	$0	$0
RANDY THELEN	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE VAN DYKE	DIRECTOR	1.00	Director	$0	$0	$0
MILT ROHWER	DIRECTOR	1.00	Director	$0	$0	$0
ANTHONY QUEEN	PARENT LEADER	1.00	Director	$0	$0	$0
KELSEY PERDUE	DIRECTOR	1.00	Director	$0	$0	$0
EMILY CANTOR	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER HEADLEY-NORDMAN	PRESIDENT	40.00	Officer	$150,843	$15,618	$166,461

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$12,965,156	$11,930,968	$4,830,339	$1,034,188
2023	$10,520,422	$10,890,715	$3,416,832	$-370,293
2022	$8,534,103	$8,331,757	$3,263,286	$202,346
2021	$6,363,440	$6,180,254	$2,604,123	$183,186
2020	$3,588,201	$3,747,156	$2,563,732	$-158,955
2019	$1,557,034	$1,389,520	$1,466,341	$167,514
2018	$1,890,436	$1,702,968	$1,379,480	$187,468

FIRST STEPS KENT