Civic Intelligence

First Step Apartments Inc.

990 • Fiscal year 2025 • EIN 71-0773527

Jul 01, 2024 to Jun 30, 2025 • Filed on Sep 07, 2025

Organization ProfileN/A
212 S Main StreetMalvern, AR 72104

(501) 280-0037

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.11x

Higher debt load relative to assets than 71% of similar nonprofits.

2025 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

82nd percentile

0.26x

Higher debt load relative to revenue than 82% of similar nonprofits.

2025 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2025

Net Margin

19th percentile

-12%

Higher net margin than 19% of similar nonprofits.

2025 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2025 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2025

Asset Growth

42nd percentile

1.1%

Faster asset growth than 42% of similar nonprofits.

2025 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

66th percentile

16%

Faster revenue growth than 66% of similar nonprofits.

2025 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$602,905

Up $6,665 (+1.1%) from 2024

Net Assets

Down

$537,261

Down $30,574 (-5.4%) from 2024

Liabilities

Up

$65,644

Up $37,239 (+131%) from 2024

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin19th percentile

Revenue

Up

$252,133

Up $34,381 (+16%) from 2024

Expenses

Up

$282,707

Up $54,328 (+24%) from 2024

Net Income

Down

-$30,574

Down $19,947 (-188%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2011: $772,631Liabilities 2011: $21,892Net Assets 2011: $750,7392011Assets 2012: $749,685Liabilities 2012: $16,432Net Assets 2012: $733,2532012Assets 2013: $724,335Liabilities 2013: $14,571Net Assets 2013: $709,7642013Assets 2014: $725,172Liabilities 2014: $19,160Net Assets 2014: $706,0122014Assets 2015: $707,045Liabilities 2015: $19,003Net Assets 2015: $688,0422015Assets 2016: $672,038Liabilities 2016: $17,120Net Assets 2016: $654,9182016Assets 2017: $683,622Liabilities 2017: $17,938Net Assets 2017: $665,6842017Assets 2018: $680,905Liabilities 2018: $13,296Net Assets 2018: $667,6092018Assets 2019: $684,495Liabilities 2019: $30,190Net Assets 2019: $654,3052019Assets 2020: $665,545Liabilities 2020: $28,629Net Assets 2020: $636,9162020Assets 2021: $650,479Liabilities 2021: $26,589Net Assets 2021: $623,8902021Assets 2022: $629,637Liabilities 2022: $35,079Net Assets 2022: $594,5582022Assets 2023: $605,694Liabilities 2023: $27,232Net Assets 2023: $578,4622023Assets 2024: $596,240Liabilities 2024: $28,405Net Assets 2024: $567,8352024Assets 2025: $602,905Liabilities 2025: $65,644Net Assets 2025: $537,2612025

Highlighted filing

2025

Assets$602,905
Liabilities$65,644
Net Assets$537,261
Open 2025 Filing

Operations Trend

Revenue Growth66th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KExpenses 2011: $249,3792011Expenses 2012: $152,2022012Revenue 2013: $131,852Expenses 2013: $155,341Net Income 2013: -$23,4892013Revenue 2014: $167,414Expenses 2014: $171,166Net Income 2014: -$3,7522014Revenue 2015: $149,821Expenses 2015: $167,791Net Income 2015: -$17,9702015Revenue 2016: $151,992Expenses 2016: $185,116Net Income 2016: -$33,1242016Revenue 2017: $153,821Expenses 2017: $143,055Net Income 2017: $10,7662017Revenue 2018: $158,343Expenses 2018: $156,418Net Income 2018: $1,9252018Revenue 2019: $155,762Expenses 2019: $169,066Net Income 2019: -$13,3042019Revenue 2020: $160,998Expenses 2020: $178,387Net Income 2020: -$17,3892020Revenue 2021: $159,007Expenses 2021: $172,031Net Income 2021: -$13,0242021Revenue 2022: $170,524Expenses 2022: $199,856Net Income 2022: -$29,3322022Revenue 2023: $188,649Expenses 2023: $204,745Net Income 2023: -$16,0962023Revenue 2024: $217,752Expenses 2024: $228,379Net Income 2024: -$10,6272024Revenue 2025: $252,133Expenses 2025: $282,707Net Income 2025: -$30,5742025

Highlighted filing

2025

Revenue$252,133
Expenses$282,707
Net Income-$30,574
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Sep 7, 2025
Return Version
2024v5.0
Gross Receipts
$252,133
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$356,092$328,969▼ $27,123
Prepaid Expenses and Deferred Charges-$25,256-
Accounts Receivable$10,794$802▼ $9,992
Cash and Non-Interest-Bearing Accounts$1,261$372▼ $889
Total Assets$596,240$602,905▲ $6,665
Other Assets Total$228,093$247,506▲ $19,413
Liabilities
Accounts Payable and Accrued Expenses$23,322$60,090▲ $36,768
Other Liabilities$4,692$5,019▲ $327
Deferred Revenue$391$535▲ $144
Total Liabilities$28,405$65,644▲ $37,239
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,007,919$1,007,919→ $0
Net Assets Without Donor Restrictions$-440,084$-470,658▼ $30,574
Total Net Assets Fund Balance$567,835$537,261▼ $30,574
Total Liabilities and Net Assets / Fund Balance$596,240$602,905▲ $6,665

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$279,150$755,710$1,034,860
Land$49,819-$49,819
Equipment-$11,089$11,089
Other Assets Org$5,202--
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
C Carl SchultzPresident
Cynthia WheelerSecretary
Jeffrey OwensTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$251,807
Investment Income
$326
Other Revenue
$0
Change in Net Assets
$-30,574

Audited Revenue Reconciliation

Revenue per Audited Statements
$252,133
Total Revenue per Audited Statements
$252,133
Total Revenue per Form 990
$252,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$231,106
Salaries, Compensation, and Employee Benefits$51,601
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$47,614--$47,614
Occupancy$39,469--$39,469
Insurance$34,733--$34,733
Fees for Services Management-$33,242-$33,242
Depreciation Depletion$27,123--$27,123
All Other Expenses$22,651--$22,651
Fees for Services Legal$22,559--$22,559
Fees for Services Accounting-$10,922-$10,922
Other Expenses$6,069$12,416-$6,069
Office Expenses$4,454--$4,454
Payroll Taxes$3,987--$3,987
Conferences and Meetings-$776-$776
Advertising$153--$153
Total Functional Expenses$225,351$57,356$0$282,707

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$282,707
Total Expenses per Audited Statements$282,707
Total Expenses per Form 990$282,707
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Arkansas Cons Payroll ProcessingOwnerPayrollNo$68,475
Intrepid Management IncOwnerManagement AgentYes$36,110
Certified Heat AirSiblingHeat and Air RepairNo$7,652
Intrepid Management IncOwnerAdmin ServicesNo$547
Intrepid Investments IncOwnerBackground ChecksNo$59
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Dep (contra)$5,019
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“C. Carl schultz cynthia wheeler president secretary siblings c. Carl schultz jeffrey owens president treasurer employer and employee”

Form 990, Page 6, Part VI, Line 3

“Day-to-day operations have been delegated to a management agent, intrepid management, inc., who has been approved by the u.s. Department of housing and urban development.”

Form 990, Page 6, Part VI, Line 7A

“The number of directors of the corporation shall be three (3), who shall elect their successors, in the event of a vacancy, and who shall elect the officers of the corporation. All directors and officers shall serve one year terms, but shall serve until their successors are elected.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 prepared by an external cpa firm and provided to the board of directors for review and approval prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“All related party transactions are disclosed in the annual financial report which is submitted to the u.s. Department of housing and urban development for review and approval.”

Form 990, Page 6, Part VI, Line 19

“Documentation is not available for public view but can be made available upon written request.”

Filing and Contact Details

Filer

Filer Name
First Step Apartments Inc
EIN
71-0773527
Phone
5012800037
Address
212 S MAIN STREET, MALVERN, AR 72104

Signing Officer

Name
C Carl Schultz
Title
President
Phone
5012800037
Signed
2025-09-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
C Carl Schultz
Formed
1995
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Fleet Firm
Address
759 TEALWOOD LN, CORDOVA, TN 38018-6334
Preparer
Nelson K Fleet CPA
Phone
9013364602
Raw XML Appendix390 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt023322
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt060090
IRS990/AccountsReceivableGrp/BOYAmt010794
IRS990/AccountsReceivableGrp/EOYAmt0802
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0PROVIDE LOW-INCOME HOUSING TO PERSONS WITH DISABILITIES LOCATED IN HELENA, ARKANSAS IN ACCOURDANCE WITH U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
IRS990/AdvertisingGrp/ProgramServicesAmt0153
IRS990/AdvertisingGrp/TotalAmt0153
IRS990/AllOtherExpensesGrp/ProgramServicesAmt022651
IRS990/AllOtherExpensesGrp/TotalAmt022651
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/PersonNm0INTREPID MANAGEMENT INC
IRS990/BooksInCareOfDetail/PhoneNum05102800037
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0212 S MAIN STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0MALVERN
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0AR
IRS990/BooksInCareOfDetail/USAddress/ZIPCd072104
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0true
IRS990/CashNonInterestBearingGrp/BOYAmt01261
IRS990/CashNonInterestBearingGrp/EOYAmt0372
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt0776
IRS990/ConferencesMeetingsGrp/TotalAmt0776
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0326
IRS990/CYOtherExpensesAmt0231106
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0251807
IRS990/CYRevenuesLessExpensesAmt0-30574
IRS990/CYSalariesCompEmpBnftPaidAmt051601
IRS990/CYTotalExpensesAmt0282707
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0252133
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt0391
IRS990/DeferredRevenueGrp/EOYAmt0535
IRS990/DelegationOfMgmtDutiesInd0true
IRS990/DepreciationDepletionGrp/ProgramServicesAmt027123
IRS990/DepreciationDepletionGrp/TotalAmt027123
IRS990/Desc0PROVIDE LOW-INCOME HOUSING TO PERSONS WITH DISABILITIES LOCATED IN HELENA, ARKANSAS IN ACCOURDANCE WITH U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0false
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt01007919
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt01007919
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt0225351
IRS990/FamilyOrBusinessRlnInd0true
IRS990/FederalGrantAuditPerformedInd0true
IRS990/FederalGrantAuditRequiredInd0true
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt010922
IRS990/FeesForServicesAccountingGrp/TotalAmt010922
IRS990/FeesForServicesLegalGrp/ProgramServicesAmt022559
IRS990/FeesForServicesLegalGrp/TotalAmt022559
IRS990/FeesForServicesManagementGrp/ManagementAndGeneralAmt033242
IRS990/FeesForServicesManagementGrp/TotalAmt033242
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/PersonNm0JEFFREY OWENS
IRS990/Form990PartVIISectionAGrp/PersonNm1C CARL SCHULTZ
IRS990/Form990PartVIISectionAGrp/PersonNm2CYNTHIA WHEELER
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/TitleTxt0TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01995
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0252133
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt03
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ProgramServicesAmt034733
IRS990/InsuranceGrp/TotalAmt034733
IRS990/InvestmentIncomeGrp/ExclusionAmt0326
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0326
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0766799
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0356092
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0328969
IRS990/LandBldgEquipCostOrOtherBssAmt01095768
IRS990/LegalDomicileStateCd0AR
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0PROVIDE LOW-INCOME HOUSING TO PERSONS WITH DISABILITIES LOCATED IN HELENA, ARKANSAS IN ACCOURDANCE WITH U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0567835
IRS990/NetAssetsOrFundBalancesEOYAmt0537261
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-440084
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-470658
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt039469
IRS990/OccupancyGrp/TotalAmt039469
IRS990/OfficeExpensesGrp/ProgramServicesAmt04454
IRS990/OfficeExpensesGrp/TotalAmt04454
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0228093
IRS990/OtherAssetsTotalGrp/EOYAmt0247506
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1CONTRACTS-GROUNDS
IRS990/OtherExpensesGrp/Desc2HEATING/COOLING MAINT
IRS990/OtherExpensesGrp/Desc3REAL ESTATE TAXES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt012416
IRS990/OtherExpensesGrp/ProgramServicesAmt09945
IRS990/OtherExpensesGrp/ProgramServicesAmt16594
IRS990/OtherExpensesGrp/ProgramServicesAmt26069
IRS990/OtherExpensesGrp/TotalAmt012416
IRS990/OtherExpensesGrp/TotalAmt19945
IRS990/OtherExpensesGrp/TotalAmt26594
IRS990/OtherExpensesGrp/TotalAmt36069
IRS990/OtherLiabilitiesGrp/BOYAmt04692
IRS990/OtherLiabilitiesGrp/EOYAmt05019
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt047614
IRS990/OtherSalariesAndWagesGrp/TotalAmt047614
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt03987
IRS990/PayrollTaxesGrp/TotalAmt03987
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025256
IRS990/PrincipalOfficerNm0C CARL SCHULTZ
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/Desc0NET RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1LAUNDRY AND VENDING REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0250627
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1631
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2549
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0250627
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1631
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2549
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0305
IRS990/PYOtherExpensesAmt0184069
IRS990/PYProgramServiceRevenueAmt0217447
IRS990/PYRevenuesLessExpensesAmt0-10627
IRS990/PYSalariesCompEmpBnftPaidAmt044310
IRS990/PYTotalExpensesAmt0228379
IRS990/PYTotalRevenueAmt0217752
IRS990/ReconcilationRevenueExpnssAmt0-30574
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0251807
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS REVENUE 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0326
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0305
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0242
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0104
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0169
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt01146
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0251807
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0217447
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0188407
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0170420
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0158838
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0986919
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0326
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0305
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0242
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0104
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0169
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01146
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99880
IRS990ScheduleA/PublicSupportPY509Pct00.99890
IRS990ScheduleA/PublicSupportTotal509Amt0986919
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0251807
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0217447
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0188407
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0170420
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0158838
IRS990ScheduleA/Total509Grp/TotalAmt0986919
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0252133
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0217752
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0188649
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0170524
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0159007
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0988065
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0279150
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0755710
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01034860
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011089
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011089
IRS990ScheduleD/ExpensesSubtotalAmt0282707
IRS990ScheduleD/LandGrp/BookValueAmt049819
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt049819
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0222819
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt119485
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt25202
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RESERVE FOR REPLACEMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW ACCOUNTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SECURITY DEPOSIT CASH
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05019
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEP (CONTRA)
IRS990ScheduleD/RevenueSubtotalAmt0252133
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0328969
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0247506
IRS990ScheduleD/TotalExpensesPerForm990Amt0282707
IRS990ScheduleD/TotalLiabilityAmt05019
IRS990ScheduleD/TotalRevenuePerForm990Amt0252133
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0252133
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0282707
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0INTREPID INVESTMENTS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1INTREPID MANAGEMENT INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm2ARKANSAS CONS PAYROLL PROCESSING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm3CERTIFIED HEAT AIR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm4INTREPID MANAGEMENT INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3SIBLING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd3false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd4false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt059
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt136110
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt268475
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt37652
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt4547
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0BACKGROUND CHECKS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1MANAGEMENT AGENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2PAYROLL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3HEAT AND AIR REPAIR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4ADMIN SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0C. CARL SCHULTZ AND CYNTHIA WHEELER ARE SIBLINGS AND OFFICERS OF THE ENTITY. THEY ARE OWNERS OF INTREPID INVESTMENTS, INC. AND INTREPID MANAGEMENT, INC. C. CARL SCHULTZ IS PRESIDENT OF THE ENTITY AND IS AN OWNER OF UNITED PROPERTIES MANAGEMENT, INC. C. CARL SCHULTZ IS PRESIDENT OF THE ENTITY AND IS SOLE OWNER OF ARKANSAS CONSOLIDATED PAYROLL PROCESSING. SERVICES PROVIDED INCLUDE PAYROLL PROCESSING AND LEASING OF EMPLOYEES. C. CARL SCHULTZ IS THE PRESIDENT OF THE ENTITY. HIS BROTHER IS THE SOLE OWNER OF CERTIFIED HEAT & AIR.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0C. CARL SCHULTZ CYNTHIA WHEELER PRESIDENT SECRETARY SIBLINGS C. CARL SCHULTZ JEFFREY OWENS PRESIDENT TREASURER EMPLOYER AND EMPLOYEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DAY-TO-DAY OPERATIONS HAVE BEEN DELEGATED TO A MANAGEMENT AGENT, INTREPID MANAGEMENT, INC., WHO HAS BEEN APPROVED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE NUMBER OF DIRECTORS OF THE CORPORATION SHALL BE THREE (3), WHO SHALL ELECT THEIR SUCCESSORS, IN THE EVENT OF A VACANCY, AND WHO SHALL ELECT THE OFFICERS OF THE CORPORATION. ALL DIRECTORS AND OFFICERS SHALL SERVE ONE YEAR TERMS, BUT SHALL SERVE UNTIL THEIR SUCCESSORS ARE ELECTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 PREPARED BY AN EXTERNAL CPA FIRM AND PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL RELATED PARTY TRANSACTIONS ARE DISCLOSED IN THE ANNUAL FINANCIAL REPORT WHICH IS SUBMITTED TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTATION IS NOT AVAILABLE FOR PUBLIC VIEW BUT CAN BE MADE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0596240
IRS990/TotalAssetsEOYAmt0602905
IRS990/TotalAssetsGrp/BOYAmt0596240
IRS990/TotalAssetsGrp/EOYAmt0602905
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt057356
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0225351
IRS990/TotalFunctionalExpensesGrp/TotalAmt0282707
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt028405
IRS990/TotalLiabilitiesEOYAmt065644
IRS990/TotalLiabilitiesGrp/BOYAmt028405
IRS990/TotalLiabilitiesGrp/EOYAmt065644
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0567835
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0537261
IRS990/TotalProgramServiceExpensesAmt0225351
IRS990/TotalProgramServiceRevenueAmt0251807
IRS990/TotalRevenueGrp/ExclusionAmt0326
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0251807
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0252133
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0596240
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0602905
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0212 S MAIN STREET
IRS990/USAddress/CityNm0MALVERN
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072104
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0C CARL SCHULTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05012800037
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FIRST STEP APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0FIRS
ReturnHeader/Filer/EIN0710773527
ReturnHeader/Filer/PhoneNum05012800037
ReturnHeader/Filer/USAddress/AddressLine1Txt0212 S MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0MALVERN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072104
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621868414
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FLEET FIRM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0759 TEALWOOD LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CORDOVA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0380186334
ReturnHeader/PreparerPersonGrp/PhoneNum09013364602
ReturnHeader/PreparerPersonGrp/PreparationDt02025-09-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NELSON K FLEET CPA
ReturnHeader/ReturnTs02025-09-24T12:18:27-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$602,905
Liabilities
$65,644
Net assets
$537,261
Revenue
$252,133
Expenses
$282,707
Net income
-$30,574
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.03$0.66$5.37$2.52$2.83$0.31
2024Detailed filing. Detailed filing data is available for this year.$5.96$0.28$5.68$2.18$2.28$0.11
2023Detailed filing. Detailed filing data is available for this year.$6.06$0.27$5.78$1.89$2.05$0.16
2022Detailed filing. Detailed filing data is available for this year.$6.30$0.35$5.95$1.71$2.00$0.29
2021Detailed filing. Detailed filing data is available for this year.$6.50$0.27$6.24$1.59$1.72$0.13
2020Detailed filing. Detailed filing data is available for this year.$6.66$0.29$6.37$1.61$1.78$0.17
2019Detailed filing. Detailed filing data is available for this year.$6.84$0.30$6.54$1.56$1.69$0.13
2018Detailed filing. Detailed filing data is available for this year.$6.81$0.13$6.68$1.58$1.56$0.02
2017Detailed filing. Detailed filing data is available for this year.$6.84$0.18$6.66$1.54$1.43$0.11
2016Detailed filing. Detailed filing data is available for this year.$6.72$0.17$6.55$1.52$1.85$0.33
2015Detailed filing. Detailed filing data is available for this year.$7.07$0.19$6.88$1.50$1.68$0.18
2014Detailed filing. Detailed filing data is available for this year.$7.25$0.19$7.06$1.67$1.71$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.24$0.15$7.10$1.32$1.55$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.50$0.16$7.33$1.52
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.73$0.22$7.51$2.49