First Step Apartments INC: FY2023 Nonprofit Profile & Form 990 (EIN 71-0773527)

Revenue by fiscal year
FY2021	$159K
FY2022	$171K
FY2023	$189K
FY2024	$218K
FY2025	$252K

Expenses by fiscal year
FY2021	$172K
FY2022	$200K
FY2023	$205K
FY2024	$228K
FY2025	$283K

Net assets by fiscal year
FY2021	$624K
FY2022	$595K
FY2023	$578K
FY2024	$568K
FY2025	$537K

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

83 cents of each dollar spent went to programs.

83%

17%

Program services 83% · $170K Management & general 17% · $35K

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

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII

Jeffrey Owens

Treasurer

$0Pt VII · Sec A

C Carl Schultz

President

$0Pt VII · Sec A

Cynthia Wheeler

Secretary

$0Pt VII · Sec A

See First Step Apartments INC executive salaries →

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.

Questions for First Step Apartments INC

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1 program · $170K · in their own filed words · FY2022

01

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

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 71-0773527) · Dispute this line

$170Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs

Year ending Jun 2024 · $1.1M federal money spent

Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.1M

The auditor reported no findings.

Year ending Jun 2023 · $1.1M federal money spent

Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.1M

The auditor reported no findings.

Year ending Jun 2022 · $1.1M federal money spent

Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.1M

The auditor reported no findings.

Year ending Jun 2021 · $1.1M federal money spent

Supportive Housing for Persons with DisabilitiesDepartment of Housing and Urban Development · ALN 14.181 · Direct$1.1M

The auditor reported no findings.

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$189K

Ln 12

Fees for servicesLn 2g$188K

Investment incomeLn 3$242

Money outPt IX

$205K

Ln 25

Programscol B$170K

Managementcol C$35K

Owns and owesPt X

$578K

net assets · Ln 32

Cash and savingsLn 1–2$2K

Total assetsLn 16$606K

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$188K

Investment incomeLn 3$242

Total revenueLn 12$189K

Assets in detailPt X, end of year

CashLn 1$2K

Cash and savings togetherLn 1–2$2K

Accounts receivableLn 4$6K

Land, buildings, equipmentLn 10c$383K

Other assetsLn 15$214K

Total assetsLn 16$606K

LiabilitiesLn 26$27K

Net assetsLn 32$578K

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

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$2K	$2K
Land, buildings, equipmentLn 10c	$410K	$383K
Total assetsLn 16	$630K	$606K
LiabilitiesLn 26	$35K	$27K
Net assetsLn 32	$595K	$578K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$36K	$36K
Payroll taxesLn 10	$3K	$3K
Management feesLn 11a	$22K		$22K
Legal feesLn 11b	$610	$610
Accounting feesLn 11c	$10K		$10K
Office expensesLn 13	$5K	$5K
OccupancyLn 16	$43K	$43K
Conferences, conventions and meetingsLn 19	$469		$469
Depreciation, depletion and amortizationLn 22	$27K	$27K
InsuranceLn 23	$11K	$11K
Other expenses (24a–d)Ln 24	$24K	$24K
All other expensesLn 24e	$22K	$20K	$2K
Total functional expensesLn 25	$205K	$170K	$35K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS Sep 24, 2025	$252K	$283K	−$31K	$537K	990 PDF
FY2024Filed with the IRS Sep 3, 2024	$218K	$228K	−$11K	$568K	990 PDF
FY2023 ViewingFiled with the IRS Sep 25, 2023	$189K	$205K	−$16K	$578K	990 PDF
FY2022Filed with the IRS Sep 17, 2022	$171K	$200K	−$29K	$595K	990 PDF
FY2021Filed with the IRS Sep 22, 2021	$159K	$172K	−$13K	$624K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2023 990

Part I · Summary $188,649 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $170,420$188,407

I-10 Investment incomePrior year $104$242

I-11 Other revenue$0

I-12 Total revenuePrior year $170,524$188,649

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $37,866$38,503

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $161,990$166,242

I-18 Total expensesPrior year $199,856$204,745

I-19 Revenue less expensesPrior year −$29,332−$16,096

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 $188,649 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $188,407$188,407

VIII-3 Investment incomeExcluded from tax $242$242

VIII-12 Total revenueRelated to mission $188,407 · Excluded from tax $242$188,649

Part IX · Statement of functional expenses $204,745 across 12 lines filed

IX-7 Other salaries and wagesPrograms $35,508$35,508

IX-10 Payroll taxesPrograms $2,995$2,995

IX-11a Management feesManagement $22,404$22,404

IX-11b Legal feesPrograms $610$610

IX-11c Accounting feesManagement $10,027$10,027

IX-13 Office expensesPrograms $5,113$5,113

IX-16 OccupancyPrograms $42,822$42,822

IX-19 Conferences, conventions and meetingsManagement $469$469

IX-22 Depreciation, depletion and amortizationPrograms $27,123$27,123

IX-23 InsurancePrograms $10,909$10,909

IX-24 Other expenses (24a–d)Programs $24,334$24,334

IX-24e All other expensesPrograms $20,358 · Management $2,073$22,431

IX-25 Total functional expensesPrograms $169,772 · Management $34,973 · Fundraising $0$204,745

Part X · Balance sheet $605,694 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $1,625$2,452

X-4 Accounts receivableStart of year $1,175$5,972

X-10c Land, buildings and equipment, netStart of year $410,339$383,215

X-15 Other assetsStart of year $216,498$214,055

X-16 Total assetsStart of year $629,637$605,694

X-17 Accounts payable and accrued expensesStart of year $30,820$22,631

X-19 Deferred revenueStart of year $4$391

X-25 Other liabilitiesStart of year $4,255$4,210

X-26 Total liabilitiesStart of year $35,079$27,232

X-27 Net assets without donor restrictionsStart of year −$413,361−$429,457

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 $594,558$578,462

X-33 Total liabilities and net assetsStart of year $629,637$605,694

Part XI · Reconciliation of net assets $578,462 net assets at year end

XI-1 Total revenue$188,649

XI-2 Total expenses$204,745

XI-3 Revenue less expenses−$16,096

XI-4 Net assets at start of year$594,558

XI-10 Net assets at end of year$578,462

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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First Step Apartments INC FY2023 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for First Step Apartments INC

Funders

Federal money

By the numbers

Filing history

Schedules filed Part IV