THE NEXT STEP CENTER INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Legal Domicile

Principal Officer

KAREN FERRY

Phone

8144448588

Tax Period

2024-01-01 to 2024-12-31

THE NEXT STEP CENTER INC, founded in 1999, is a small nonprofit in the Human Services sector that reported $302K in total revenue in fiscal year 2024. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $517K exceeded revenue, resulting in a 71% operating deficit.

Mission

TO PROVIDE A TEMPORARY HOME FOR SOMERSET COUNTY FAMILIES AND INDIVIDUALS, ENABLING THEM TO WORK TOWARD A RESOLUTION OF ISSUES THAT MIGHT HAVE LED TO HOMELESSNESS. WE DO THIS BY REFERRALS TO OTHER COUNTY AGENCIES FOR POTENTIAL ASSISTANCE AND IN-HOUSE COUNSELING. OUR POLICY IS TO OFFER A HELPING HAND, NOT A HAND-OUT. EMERGENCY HOUSING FOR NEIGHBORS, FRIENDS, AND FAMILIES IN CRISIS DUE TO FIRE, FLOOD, EVICTION, JOB LOSS OR UNSAFE LIVING CONDITIONS.

Program Service Accomplishments

Program 1

Expenses: $497,357

PRIMARY PURPOSE IS TO PROVIDE TEMPORARY SHELTER FOR INDIVIDUALS AND FAMILIES. GUESTS ARE REFERRED FROM TABLELAND, LOCAL AND STATE POLICE, SALVATION ARMY, DBHS, CHURCHES, MEDICAL FACILITIES, AND...

PRIMARY PURPOSE IS TO PROVIDE TEMPORARY SHELTER FOR INDIVIDUALS AND FAMILIES. GUESTS ARE REFERRED FROM TABLELAND, LOCAL AND STATE POLICE, SALVATION ARMY, DBHS, CHURCHES, MEDICAL FACILITIES, AND CHILDREN AND YOUTH. THIS IS A PLACE WHERE PEOPLE CAN GROW AND GET BACK ON THEIR FEET.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $187,781

Program Service Revenue $101,355

Investment Income $12,704

Other Revenue $232

TOTAL REVENUE $302,072

Expense Breakdown

Grants Paid $0

Salaries & Benefits $245,283

Fundraising Expenses $125

Program Expenses $497,357

Other Expenses $271,302

TOTAL EXPENSES $516,585

Year-over-Year Comparison

	2024	2023	Change
Revenue	$302,072	$908,588	-0.7%
Expenses	$516,585	$732,960	-0.3%
Net Income	$-214,513	$175,628	-2.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$57,440

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA WENGERD	EXECUTIVE DI	40.00	Director	$57,440	$0	$57,440
PAUL BOMBOY	TREASURER	N/A	Officer Director	$0	$0	$0
KAREN FERRY	CHAIRMAN	N/A	Officer Director	$0	$0	$0
RENEE GINDLESPERGER	SECRETARY	N/A	Officer Director	$0	$0	$0
MICHAEL KUHN	DIRECTOR	N/A	Director	$0	$0	$0
ARNIE MCFARLAND	VICE CHAIR	N/A	Officer Director	$0	$0	$0
JOSHUA MILLER	DIRECTOR	N/A	Director	$0	$0	$0
ANDREA PALGUTA	DIRECTOR	N/A	Director	$0	$0	$0
BRENDA SHAFFER	DIRECTOR	N/A	Director	$0	$0	$0
NANCY WEBB	DIRECTOR	N/A	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$302,072	$516,585	$1,388,510	$-214,513
2023	$908,588	$732,960	$1,603,937	$175,628
2022	$829,930	$542,031	$1,401,948	$287,899
2021	$995,665	$474,855	$1,143,707	$520,810
2020	$449,281	$312,950	$609,073	$136,331
2019	$299,129	$240,158	$461,845	$58,971
2018	$192,134	$234,112	$400,388	$-41,978