NEXT STEP HOUSING INC

EIN: 522023197 501(c)(3) Housing & Shelter

GAITHERSBURG, MD

Total Revenue
$99,899
Total Expenses
$147,698
Total Assets
$513,891
Net Assets
$-605,026
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
MD
Principal Officer
SARAH NORMAN
Phone
3018402000
Tax Period
2022-07-01 to 2023-06-30

NEXT STEP HOUSING INC, founded in 1997, is a micro nonprofit in the Housing & Shelter sector that reported $100K in total revenue in fiscal year 2022. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $148K exceeded revenue, resulting in a 48% operating deficit.

Mission

TO PROVIDE AFFORDABLE HOUSING TO PERSONS WITH DISABILITIES UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT.

Program Service Accomplishments

Program 1
Expenses: $112,977 Revenue: $36,534

NEXT STEP HOUSING, INC. IS A CORPORATION ORGANIZED IN FEBRUARY 1997 FOR THE PURPOSE OF ACQUIRING, DEVELOPING AND OPERATING HOUSING AND RELATED FACILITIES WHICH CONSIST OF 12 UNITS LOCATED IN MARYLAND...

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NEXT STEP HOUSING, INC. IS A CORPORATION ORGANIZED IN FEBRUARY 1997 FOR THE PURPOSE OF ACQUIRING, DEVELOPING AND OPERATING HOUSING AND RELATED FACILITIES WHICH CONSIST OF 12 UNITS LOCATED IN MARYLAND FOR PERSONS WITH DISABILITIES. THE ENTITY RECEIVES ASSISTANCE UNDER PROVISIONS OF SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT. SUCH PROJECTS ARE REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $63,285
Program Service Revenue $36,534
Investment Income $80
Other Revenue $0
TOTAL REVENUE $99,899

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $112,977
Other Expenses $147,698
TOTAL EXPENSES $147,698

Year-over-Year Comparison

2022 2021 Change
Revenue $99,899 $81,981 +0.2%
Expenses $147,698 $140,967 +0.0%
Net Income $-47,799 $-58,986 -0.2%
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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Governance

Voting Members
5
Independent Members
3
Employees
N/A
Volunteers
5

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
4
$695,111
Total Directors
5
$695,111
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SARAH NORMAN PRESIDENT 0.25
Officer Director
$0 $20,272 $192,560
ROBERT HALL VICE PRESIDENT 0.25
Officer Director
$0 $0 $0
JEFF RICHARDSON TREASURER 0.25
Officer Director
$0 $51,488 $502,551
DAVID WEISS SECRETARY 0.25
Officer Director
$0 $0 $0
CLAIRE DENNIS-TUKPAH DIRECTOR 0.25
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
2023 $99,899 $147,698 $513,891 $-47,799
2022 $81,981 $140,967 $538,608 $-58,986
2021 $83,664 $126,687 $572,909 $-43,023
2020 $85,997 $139,028 $589,412 $-53,031
2019 $82,258 $117,886 $619,141 $-35,628
2018 $84,442 $110,935 $650,259 $-26,493
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