First Step Housing

Analysis

First Step Housing is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in December 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, First Step Housing reported income of $7.1m and spending of $6.6m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $916k to $7.1m (+675%), an average of +67% a year. The sharpest change came in the year to December 2020, when income rose by 122%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, First Step Housing sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Byrd Hoffman Water Mill Foundation ($7.1m), Deette Holden Cummer Museum Foundation Inc ($7.1m) and Alaska Native Heritage Center Inc ($7.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $217k (3.3% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $2.1m against liabilities of $711k, net assets of $1.3m. It reported 178 employees.