FIRST STEPS PRESCHOOL

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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

2020

Legal Domicile

Principal Officer

Keith Colbert

Phone

9379657929

Tax Period

2024-01-01 to 2024-12-31

FIRST STEPS PRESCHOOL, founded in 2020, is a small nonprofit in the Education sector that reported $204K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum.

Mission

provide Christian preschool services for children ages 2.5 to 5.

Program Service Accomplishments

Program 1

Expenses: $197,939 Revenue: $8,257

The preschool had an enrollment of approximately 60 students on December 31, 2024 and provided educational services based on Ohio Department of Education preK learning standards.

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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 $38,100

Program Service Revenue $165,407

Investment Income $165

Other Revenue $0

TOTAL REVENUE $203,672

Expense Breakdown

Grants Paid $344

Salaries & Benefits $172,853

Fundraising Expenses $0

Program Expenses $197,939

Other Expenses $24,742

TOTAL EXPENSES $197,939

Year-over-Year Comparison

	2024	2023	Change
Revenue	$203,672	$161,499	+0.3%
Expenses	$197,939	$249,581	-0.2%
Net Income	$5,733	$-88,082	-1.1%

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

N/A

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

Total Directors

Key Employees

$36,965

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Keith Colbert	Preschool Director	30	Key Emp	$36,965	$0	$36,965
Sheila Myers	Board Member	1	Director	$0	$0	$0
John Trussel	Board Member	1	Director	$0	$0	$0
April Tyler	Board Member	1	Director	$0	$0	$0
Shannon Teague	Board Member	1	Director	$0	$0	$0
Adrienne Wynkoop	Board Member	1	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
2024	$203,672	$197,939	$71,427	$5,733
2022	$376,878	$241,444	$153,676	$135,434