First Step Shelter Inc

Nonprofit profile at a glance

EIN
813976095
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Daytona Beach, FL, USA
Phone
3863613800
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Shelters

Official website

Reported finances

Revenue
$2,013,309
Expenses
$1,777,532
Assets
$2,241,023
Liabilities
$77,209

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • VICTORIA FAHLBERG (EXECUTIVE DIRECTOR)
  • DERRICK HENRY (President)

Highest reported compensation

  • VICTORIA FAHLBERG (EXECUTIVE DIRECTOR): $135,893 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To develop, manage and operate the First Step Shelter Program, a homeless assistance service program and shelter in Volusia County, Florida.

What it reported doing in 2024

Operation of homeless shelter

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.6%; rating input score 80
  • Program expense ratio: 89.4%; rating input score 89
  • Fundraising efficiency: $31.83 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.7%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 7.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 17.5% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 15.4% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 79.6% of revenue deployed · 89.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $136K · 10 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.