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First Step Apartments INC FY2021 filing

Tax-deductible

Malvern, AR501(c)(3)Human Services EIN 71-0773527Revenue $159K in FY2021

On file with the IRS212 S Main St, 72104-3735 · Malvern, ARTax-exempt since Apr 1996Publicly supported — 509(a)(2)

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Provide low-income housing to persons with disabilities located in helena, arkansas in accourdance with u.s. Department of housing and urban development.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $20K a year · 10% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$27K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$159K
Spent
$172K
To programs
84%
Net assets
$624K
By yearFY2021–FY2025
Revenue
$159K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$159K
FY2022$171K
FY2023$189K
FY2024$218K
FY2025$252K
Expenses
$172K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$172K
FY2022$200K
FY2023$205K
FY2024$228K
FY2025$283K
Net assets
$624K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$624K
FY2022$595K
FY2023$578K
FY2024$568K
FY2025$537K

From the FY2021 Form 990 (year ending June 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $145K Management & general 16% · $28K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Jeffrey Owens
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See First Step Apartments INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable housing for disabled individuals in Helena, Arkansas.

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Provided by the organization

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1 program · $145K · in their own filed words · FY2020
01

Provide low-income housing to persons with disabilities located in helena, arkansas in accourdance with U.S. Department of housing and urban development.

$145Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$159K
Ln 12
Fees for servicesLn 2g$159K
Investment incomeLn 3$169
Money outPt IX
$172K
Ln 25
Programscol B$145K
Managementcol C$28K
Owns and owesPt X
$624K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$650K
LiabilitiesLn 26$27K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$159K
Investment incomeLn 3$169
Total revenueLn 12$159K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Land, buildings, equipmentLn 10c$437K
Other assetsLn 15$210K
Total assetsLn 16$650K
LiabilitiesLn 26$27K
Net assetsLn 32$624K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$845$2K
Land, buildings, equipmentLn 10c$465K$437K
Total assetsLn 16$666K$650K
LiabilitiesLn 26$29K$27K
Net assetsLn 32$637K$624K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$28K$28K
Payroll taxesLn 10$2K$2K
Management feesLn 11a$19K$19K
Accounting feesLn 11c$9K$9K
Office expensesLn 13$6K$6K
OccupancyLn 16$32K$32K
Conferences, conventions and meetingsLn 19$133$133
Depreciation, depletion and amortizationLn 22$27K$27K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$23K$23K
All other expensesLn 24e$17K$17K$187
Total functional expensesLn 25$172K$145K$28K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $252K$283K−$31K$537K 990 PDF
FY2024 $218K$228K−$11K$568K 990 PDF
FY2023 $189K$205K−$16K$578K 990 PDF
FY2022 $171K$200K−$29K$595K 990 PDF
FY2021 Viewing $159K$172K−$13K$624K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $159,007 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $160,812$158,838
I-10 Investment incomePrior year $186$169
I-11 Other revenue$0
I-12 Total revenuePrior year $160,998$159,007
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $36,619$30,112
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $141,768$141,919
I-18 Total expensesPrior year $178,387$172,031
I-19 Revenue less expensesPrior year −$17,389−$13,024
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $159,007 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $158,838$158,838
VIII-3 Investment incomeExcluded from tax $169$169
VIII-12 Total revenueRelated to mission $158,838 · Excluded from tax $169$159,007
Part IX · Statement of functional expenses $172,031 across 11 lines filed
IX-7 Other salaries and wagesPrograms $27,951$27,951
IX-10 Payroll taxesPrograms $2,161$2,161
IX-11a Management feesManagement $18,622$18,622
IX-11c Accounting feesManagement $8,587$8,587
IX-13 Office expensesPrograms $6,368$6,368
IX-16 OccupancyPrograms $31,979$31,979
IX-19 Conferences, conventions and meetingsManagement $133$133
IX-22 Depreciation, depletion and amortizationPrograms $27,123$27,123
IX-23 InsurancePrograms $8,786$8,786
IX-24 Other expenses (24a–d)Programs $22,846$22,846
IX-24e All other expensesPrograms $17,288 · Management $187$17,475
IX-25 Total functional expensesPrograms $144,502 · Management $27,529 · Fundraising $0$172,031
Part X · Balance sheet $650,479 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $845$1,586
X-4 Accounts receivableStart of year $636$1,162
X-10c Land, buildings and equipment, netStart of year $464,585$437,461
X-15 Other assetsStart of year $199,479$210,270
X-16 Total assetsStart of year $665,545$650,479
X-17 Accounts payable and accrued expensesStart of year $24,223$22,332
X-19 Deferred revenueStart of year $54$62
X-25 Other liabilitiesStart of year $4,352$4,195
X-26 Total liabilitiesStart of year $28,629$26,589
X-27 Net assets without donor restrictionsStart of year −$371,003−$384,029
X-28 Net assets with donor restrictionsStart of year $1,007,919$1,007,919
X-32 Total net assets or fund balancesStart of year $636,916$623,890
X-33 Total liabilities and net assetsStart of year $665,545$650,479
Part XI · Reconciliation of net assets $623,890 net assets at year end
XI-1 Total revenue$159,007
XI-2 Total expenses$172,031
XI-3 Revenue less expenses−$13,024
XI-4 Net assets at start of year$636,916
XI-9 Other changes in net assets−$2
XI-10 Net assets at end of year$623,890

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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