FIRST STEPS INC (EIN 620674974) - 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

1957

Legal Domicile

Principal Officer

HEATHER HIGGINS

Phone

6152985619

Tax Period

2024-07-01 to 2025-06-30

FIRST STEPS INC, founded in 1957, is a community nonprofit in the Education sector that reported $3.5M in total revenue in fiscal year 2024.

Mission

THE MISSION OF FIRST STEPS, INC. IS TO EDUCATE AND CARE FOR CHILDREN WITH SPECIAL NEEDS AND MEDICAL CONDITIONS ALONGSIDE THEIR TYPICALLY DEVELOPING PEERS IN INCLUSIVE ENVIRONMENTS AND SUPPORT THEIR FAMILIES.

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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 $1,892,857

Program Service Revenue $1,558,143

Investment Income $66,105

Other Revenue $1,616

TOTAL REVENUE $3,518,721

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,631,508

Fundraising Expenses $175,727

Program Expenses $2,931,254

Other Expenses $810,329

TOTAL EXPENSES $3,441,837

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,518,721	$3,699,136	0.0%
Expenses	$3,441,837	$3,680,744	-0.1%
Net Income	$76,884	$18,392	+3.2%

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

$370,936

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEATHER HIGGINS	EXECUTIVE DI	40.00	Officer	$146,735	$6,199	$152,934
KARLA GARIG	DIRECTOR OF	40.00	Officer	$109,475	$6,951	$116,426
BEVERLY GRANT	DIRECTOR OF	40.00	Officer	$100,162	$1,414	$101,576
DREW WEISKOPF	PRESIDENT	1.00	Officer Director	$0	$0	$0
ABHAY KARANDIKAR	TREASURER	1.00	Officer Director	$0	$0	$0
RYAN KEITH	SECRETARY	1.00	Officer Director	$0	$0	$0
HENNA CHAUDARY	BOARD MEMBER	1.00	Director	$0	$0	$0
JAQUELINE DIXON	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTY FARRELL	BOARD MEMBER	1.00	Director	$0	$0	$0
SCHAFER ROWE	BOARD MEM. J	1.00	Director	$0	$0	$0
ERIC HOEFFLIN	BOARD MEMBER	1.00	Director	$0	$0	$0
MEGAN KELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
BEN LEMLY	BOARD MEMBER	1.00	Director	$0	$0	$0
KATES POTEMPA	BOARD MEMBER	1.00	Director	$0	$0	$0
EJ RABELL	BOARD MEMBER	1.00	Director	$0	$0	$0
KIRSTEN SCHRINER	BOARD MEMBER	1.00	Director	$0	$0	$0
JORDAN SEE	BOARD MEMBER	1.00	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	$3,518,721	$3,441,837	$4,488,074	$76,884
2024	$3,699,136	$3,680,744	$4,363,292	$18,392
2023	$3,282,967	$3,111,669	$4,303,178	$171,298
2022	$3,009,347	$2,827,820	$4,032,709	$181,527
2021	$3,194,783	$2,751,384	$4,085,527	$443,399
2020	$2,613,307	$2,584,726	$3,878,740	$28,581
2019	$2,565,888	$2,519,505	$3,532,660	$46,383

FIRST STEPS INC