Stepping Stones of Rockford Inc

Analysis

Stepping Stones of Rockford Inc is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in March 1973, 53 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Stepping Stones of Rockford Inc reported income of $13.3m and spending of $10.6m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.0m to $13.3m (+89%), an average of +17% a year. The sharpest change came in the year to June 2023, when income rose by 59%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Stepping Stones of Rockford Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Blue Valley Community Action Inc ($13.3m), Planning Council ($13.3m) and St Marys Home for Children ($13.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $449k (4.2% of expenses). Other salaries and wages came to $6.1m. At year end it held assets of $9.1m against liabilities of $2.3m, net assets of $6.8m. It reported 185 employees.