First Step Farm of WNC Inc (EIN 561161072) - 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

1976

Legal Domicile

Phone

8286670587

Tax Period

2023-07-01 to 2024-06-30

First Step Farm of WNC Inc, founded in 1976, is a community nonprofit in the Mental Health sector that reported $1.9M in total revenue in fiscal year 2023. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $1.8M left a modest 6% surplus.

Mission

REHABILITATION OF RESIDENTS WITH SUBSTANCE AND ALCOHOL ABUSE PROBLEMS

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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 $412,316

Program Service Revenue $1,256,917

Investment Income $19,912

Other Revenue $188,590

TOTAL REVENUE $1,877,735

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,017,308

Fundraising Expenses $0

Program Expenses $1,496,477

Other Expenses $746,475

TOTAL EXPENSES $1,763,783

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,877,735	$1,498,691	+0.3%
Expenses	$1,763,783	$1,752,591	+0.0%
Net Income	$113,952	$-253,900	-1.4%

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

N/A

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

$73,090

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BUZZY CANNADY	VICE CHAIRMAN	1.0	Officer Director	$0	$0	$0
J SCOTT HUGHES	CHAIRMAN	1.0	Officer Director	$0	$0	$0
LAURA C OWENBY	SECRETARY/TREASURER	1.0	Officer Director	$0	$0	$0
Jerry Vehaun	BOARD MEMBER	1.0	Director	$0	$0	$0
McKenzie Koon	BOARD MEMBER	1.0	Director	$0	$0	$0
Nathan Ramsey	BOARD MEMBER	1.0	Director	$0	$0	$0
Sandra Kilgore	BOARD MEMBER	1.0	Director	$0	$0	$0
Steve Metcalf	BOARD MEMBER	1.0	Director	$0	$0	$0
J MICHAEL PLEMMONS	EXECUTIVE DIRECTOR	20.0	Officer	$57,850	$15,240	$73,090

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	No data	No data	No data	No data
2024	$1,877,735	$1,763,783	$3,628,579	$113,952
2023	$1,498,691	$1,752,591	$3,574,826	$-253,900
2022	$2,074,572	$1,699,901	$3,738,223	$374,671
2021	$1,882,634	$1,607,007	$3,703,992	$275,627
2020	$1,760,350	$1,535,145	$3,378,676	$225,205
2019	$2,051,364	$1,542,712	$2,937,138	$508,652
2018	$1,466,014	$1,481,345	$2,449,843	$-15,331

First Step Farm of WNC Inc