Step One Foundation Inc

Analysis

Step One Foundation Inc is a registered charity in United States, based in Prescott Valley, AZ. It received its IRS tax-exemption ruling in November 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Step One Foundation Inc reported income of $2.9m and spending of $2.8m, spending 94% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $1.9m to $2.9m (+54%), an average of +9.0% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Step One Foundation Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within AZ. Charities of a similar size with the same main cause include Central Arkansas Planning and Development District Inc ($2.9m), Lakestate Industries ($2.9m) and Junior League of the City of New York Inc ($2.9m).

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 $135k (4.9% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $1.6m against liabilities of $6,012, net assets of $1.6m. It reported 75 employees.