Steps Inc

Analysis

Steps Inc is a registered charity in United States, based in Farmville, VA. It received its IRS tax-exemption ruling in January 1985, 41 years ago. 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, Steps Inc reported income of $7.7m and spending of $7.0m, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $5.9m to $7.7m (+32%), an average of +9.6% a year. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Steps Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Schmitt Woodland Hills Incorporated ($7.7m), Illinois Association of Community Action Agencies ($7.7m) and Colorado Springs World Arena ($7.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $175k (2.5% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $4.9m against liabilities of $2.0m, net assets of $2.9m. It reported 199 employees.