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Lil Precious Steps FY2021 filing

IRS exemption revoked

Lubbock, TXUnknown exempt organizationEIN 20-2421023

To provide a healthy and safe atmosphere for children to develop physically, intellectually, socially and emotionally.

74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $13K a year · 4% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$159K
130% of total assets
Concern: liabilities are 130% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$334K
+14% vs prior year
Spent
$294K
To programs
74%
Net assets
−$37K
By yearFY2020–FY2022
Revenue
$334K
FY2021▲ +14%
Revenue by fiscal year
FY2020$294K
FY2021$334K
FY2022$453K
Expenses
$294K
FY2021▼ -12%
Expenses by fiscal year
FY2020$332K
FY2021$294K
FY2022$416K
Net assets
−$37K
FY2021▲ +52%
Net assets by fiscal year
FY2020−$77K
FY2021−$37K
FY2022$0

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2014
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No — IRS exemption revoked
On the IRS revocation list.
Can I give now?
No — exemption revoked (2014-05-15)
On the IRS revocation list.
Filing up to date?
Last filed FY2022 — 4 yrs ago
Legal name (IRS)Hdr · item CLil Precious Steps
EINHdr · item D20-2421023
Exempt statusHdr · item IRevoked
Latest filingForm 990FY2022 · Form 990
Principal addressHdr · item CLubbock, TX
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.74 Management & general $0.26
Program services74%$217K
Management & general26%$77K
Total functional expensesLn 25$294K

Financial health

Is it on solid ground?

Surplus margin
+12%
revenue over expenses, this year
Program spending
74%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$122K
FY2021▲ +208%
Total assets by fiscal year
FY2020$40K
FY2021$122K
FY2022$0
Total liabilities
$159K
FY2021▲ +36%
Total liabilities by fiscal year
FY2020$117K
FY2021$159K
FY2022$0
Revenue less expensesPt I · Ln 19$41K
Total assetsPt X · Ln 16$122K
Program-expense ratioPt IX · col B74%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 45

Balance Sheet

Part X · end of year
CashLn 1$54K
Total assetsLn 16$122K
Total liabilitiesLn 26$159K
Total net assetsLn 32−$37K
Months of cash on handcomputed2.2

Statement of Revenue

Part VIII
Contributions & grants$296K · 88%
Program service revenue$39K · 12%
Contributions & grants88%$296K
Program service revenue12%$39K
Investment income$17
— government grantsLn 1e$52K
Total revenueLn 12$334K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $54K · Operating expenses/yr $294K
2.2 months
Where the money goes
Program services
Program services $217K · Total expenses $294K
74%
Management & General
Management & general $77K · Total expenses $294K
26%
Fundraising
Fundraising $0 · Total expenses $294K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $249K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $296K · Total revenue $334K
88%
Government reliance
Government grants $52K · Total revenue $334K
16%
Earned-income share
Program service revenue $39K · Total revenue $334K
12%
Investment reliance
Investment income $17 · Total revenue $334K
<0.01%
Program self-sufficiency
Program service revenue $39K · Total expenses $294K
13%
Growth & trend
Revenue growth (YoY)
This year $334K · Prior year $294K
+14%
Net-asset trend (YoY)
End of year −$37K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $334K · Expenses $294K
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $122K
—
Net-asset ratio
Net assets −$37K · Total assets $122K
-30%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $122K
0%
People & payroll
Highest Reported Total Compensation
Individual Charlotte McCarty · Reported title Executive Dir. · Highest reported compensation $0 · Total expenses $294K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $294K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 74%——
Overhead ratio 26%——
Fundraising cost ratio 0%——
Revenue growth 14%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 3%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Charlotte McCarty
Executive Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
Charles Hankson
Sergeant at Arm
$0Pt VII · Sec A
Wanda McCarty
Secretary
$0Pt VII · Sec A
James Dennis
Contracting Mgr
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lil Precious Steps executive salaries →

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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 5Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Nurtures children's growth physically, intellectually, socially, and emotionally in a healthy, safe environment.

Provided by the organization

This section is blank until Lil Precious Steps claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $217K of program spending, described in the organization's own filed words · FY2021.
01

Expenses incurred to provide a healthy safe atmosphere for children to develop physically, intellecutally, socially and emotionally.

$217Kprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2022 Latest $453K$416K+36% 990 PDF
FY2021 Viewing $334K$294K+14% 990 PDF
FY2020 $294K$332K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Full filing: Form 990 for FY2021

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $293,634 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $7,586$7,586
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionPrograms $104$104
IX-13 Office expensesPrograms $5,665 · Management $1,888$7,553
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $28,475$28,475
IX-17 TravelPrograms $1,504 · Management $131$1,635
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $2,057$2,057
IX-23 InsurancePrograms $1,801$1,801
IX-24 Other expenses (24a–d)Programs $161,992 · Management $67,083$229,075
IX-24e All other expensesPrograms $15,042 · Management $306$15,348
IX-25 Total functional expensesPrograms $216,640 · Management $76,994 · Fundraising $0$293,634

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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