Steps to New Freedom (EIN 880503207) - Form 990 Financial Analysis & Trantor Score

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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

2004

Legal Domicile

Principal Officer

Robert Hemenway

Phone

7753224003

Tax Period

2023-01-01 to 2023-12-31

Steps to New Freedom, founded in 2004, is a small nonprofit in the Mental Health sector that reported $659K in total revenue in fiscal year 2023. Revenue surged 38% from the prior year, signaling strong growth momentum.

Mission

Provide housing and counseling assistance to homeless veterans with serious legal issues and non-veterans with serious legal issues.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $656,033

Investment Income $2,877

Other Revenue $0

TOTAL REVENUE $658,910

Expense Breakdown

Grants Paid $0

Salaries & Benefits $182,288

Fundraising Expenses $0

Program Expenses $530,895

Other Expenses $483,800

TOTAL EXPENSES $666,088

Year-over-Year Comparison

	2023	2022	Change
Revenue	$658,910	$477,164	+0.4%
Expenses	$666,088	$576,626	+0.2%
Net Income	$-7,178	$-99,462	-0.9%

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

N/A

Volunteers

N/A

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

$122,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Hemenway	Director	1.00	Director	$122,500	$0	$122,500
John Bennett	Director	0.00	Director	$0	$0	$0
John Zavadil	Officer	0.00	Officer	$0	$0	$0
Nancy Turner	Officer	0.00	Officer	$0	$0	$0
Alan Yourchik	Officer	0.00	Officer	$0	$0	$0
Aaron Hughes	Officer	0.00	Officer	$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	$658,910	$666,088	$293,576	$-7,178
2022	$477,164	$576,626	$305,693	$-99,462
2021	$555,325	$570,982	$400,416	$-15,657
2020	$667,522	$589,437	$414,258	$78,085

Steps to New Freedom