FIRST STEP HOUSING (EIN 352537631) - 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

2015

Legal Domicile

Principal Officer

STEPHEN WATTERS

Phone

9167698877

Tax Period

2023-01-01 to 2023-12-31

FIRST STEP HOUSING, founded in 2015, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.1M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $6.6M left a modest 7% surplus.

Mission

FIRST STEP COMMUNITIES WILL CREATE INTERIM HOUSING AND EMERGENCY SHELTER FOR PEOPLE EXPERIENCING HOMELESSNESS. HERE THEY WILL LIVE IN SAFETY AND DIGNITY, RECEIVE THE SERVICES THEY REQUIRE, AND TAKE A FIRST-STEP AWAY FROM HOMELESSNESS TOWARD SELF-SUFFICIENCY AND PERMANENT HOUSING.

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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 $7,085,436

Program Service Revenue $17,384

Investment Income $9

Other Revenue $0

TOTAL REVENUE $7,102,829

Expense Breakdown

Grants Paid $611,222

Salaries & Benefits $4,421,246

Fundraising Expenses $0

Program Expenses $6,306,842

Other Expenses $1,545,210

TOTAL EXPENSES $6,577,678

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,102,829	$5,567,940	+0.3%
Expenses	$6,577,678	$5,255,587	+0.3%
Net Income	$525,151	$312,353	+0.7%

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

178

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

$216,774

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BILL KNOWLTON	PRESIDENT	6.00	Officer Director	$0	$0	$0
BOB ERLENBUSCH	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
BRIAN RIDGWAY	TREASURER	3.00	Officer Director	$0	$0	$0
KERRIN WEST	SECRETARY	4.00	Officer Director	$0	$0	$0
DIANE WOLFE	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN WATTERS	EXECUTIVE DIRECTOR	40.00	Officer	$122,500	$2,467	$124,967
JOSEPH PACHECO	CHIEF OPERATING OFFICER	40.00	Officer	$91,340	$467	$91,807

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	No data	No data	No data	No data
2023	$7,102,829	$6,577,678	$2,059,864	$525,151
2022	$5,567,940	$5,255,587	$1,365,891	$312,353
2021	$4,450,714	$4,102,960	$1,058,195	$347,754
2020	$2,030,609	$1,895,849	$559,450	$134,760
2019	$916,118	$940,613	$150,261	$-24,495
2018	$684,644	$651,311	$135,171	$33,333

FIRST STEP HOUSING