Stepping Stones Inc

Analysis

Stepping Stones Inc is a registered charity in United States, based in Joliet, IL. It received its IRS tax-exemption ruling in February 1992, 34 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Inc reported income of $3.5m and spending of $2.5m, leaving 30% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.7m to $3.5m (+31%), an average of +9.5% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 81% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Stepping Stones Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within IL. Charities of a similar size with the same main cause include Network of Executive Women in Hospitality Inc ($3.5m), Building Futures ($3.5m) and Moenkopi Developers Corporation Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $67k (2.7% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $5.9m against liabilities of $130k, net assets of $5.8m. It reported 77 employees.