Steps Inc

Analysis

Steps Inc is a registered charity in United States, based in Groton, CT. It received its IRS tax-exemption ruling in November 2009, 17 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 August 2023, Steps Inc reported income of $161k and spending of $223k, spending 138% of what it took in. Across the 3 years on record, from August 2021 to August 2023, income fell from $273k to $161k (-41%), an average of -23% a year. The sharpest change came in the year to August 2022, when income dropped by 62%. Over the whole period it spent 107% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Steps Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within CT. Charities of a similar size with the same main cause include Angelas Piazza Inc ($161k), Augustana Group Home for the Handicapped Inc ($161k) and Legacy of Legends CDC ($161k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 93% and program service revenue 3.8% of the total. At year end it held assets of $15k against liabilities of $23k, net assets of -$7,683.