THE FIRST STEP

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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

1972

Legal Domicile

Principal Officer

MARY SUE WILSON

Phone

8155446560

Tax Period

2024-07-01 to 2025-06-30

THE FIRST STEP, founded in 1972, is a community nonprofit in the Human Services sector that reported $1.1M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $1.0M left a modest 4% surplus.

Mission

AN AGENCY SUPPORTIVE TO LOW AND/OR SINGLE INCOME WORKING PARENTS. WE ENCOURAGE DEVELOPMENTAL GROWTH IN CHILDREN AGED 6 WEEKS TO ELEVEN YEARS BY PROVIDING THEM WITH THE TOOLS NEEDED TO FURTHER THEIR SOCIAL, EMOTIONAL, PHYSCIAL AND INTELLECTUAL DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $805,554 Revenue: $97,491

THE CENTER PROMOTES AND ENCOURAGES THE OPTIMAL INTELLECTUAL, SOCIAL AND PHYSICAL DEVELOPMENT FOR CHILDREN OF BOONE COUNTY, CITY OF ROCKFORD, AND THE CITY OF MCHENRY INCLUDING, BUT NOT LIMITED TO...

THE CENTER PROMOTES AND ENCOURAGES THE OPTIMAL INTELLECTUAL, SOCIAL AND PHYSICAL DEVELOPMENT FOR CHILDREN OF BOONE COUNTY, CITY OF ROCKFORD, AND THE CITY OF MCHENRY INCLUDING, BUT NOT LIMITED TO, THOSE CHILDREN OF FAMILIES WITH LIMITED INCOME. THE CENTER PROVIDES AN EDUCATIONAL FORMAT FOR CHILDREN STARTING AT 6 WEEKS OF AGE AND CONTINUING THROUG PRE-K. THE CENTER ENSURE CHILDREN RECEIVE A NUTRIIOUS BREAKFAST, LUNCH AND AFTERNOON SNACK, AND ALSO PROVIDE AN ADDED MORNING SNACK.THE CENTER PROVIDES BEFORE AND AFTER SCHOOL CARE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $961,485

Program Service Revenue $97,491

Investment Income $0

Other Revenue $3,367

TOTAL REVENUE $1,062,343

Expense Breakdown

Grants Paid $0

Salaries & Benefits $759,760

Fundraising Expenses $0

Program Expenses $805,554

Other Expenses $263,449

TOTAL EXPENSES $1,023,209

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,062,343	$895,419	+0.2%
Expenses	$1,023,209	$927,029	+0.1%
Net Income	$39,134	$-31,610	-2.2%

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

$84,416

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY SUE WILSON	Executive Dir.	40.00	Officer	$84,416	$0	$84,416
TINQUER HOLLAND	President	2.00	Officer Director	$0	$0	$0
RICHARD NELSON	Vice President	2.00	Officer Director	$0	$0	$0
NATALIE BARBER	Director	2.00	Director	$0	$0	$0
MARION RINALDI	Director	2.00	Director	$0	$0	$0

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
2025	$1,062,343	$1,023,209	$11,423	$39,134
2024	$895,419	$927,029	$15,455	$-31,610
2023	$993,110	$1,005,648	$16,764	$-12,538
2022	$891,652	$918,784	$15,614	$-27,132
2021	$960,693	$841,411	$37,966	$119,282
2020	$702,668	$839,168	$62,602	$-136,500
2019	$939,149	$892,008	$63,111	$47,141
2018	$970,370	$988,438	$17,298	$-18,068