NORFOLK, VA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)NEXT STEP TO SUCCESS, founded in 2022, is a community nonprofit in the Education sector that reported $4.3M in total revenue in fiscal year 2023. Revenue surged 171% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.0M, a strong 70% operating margin.
TO HELP YOUTH IN NORFOLK BUILD THE INDEPENDENT, RESILIENT CHARACTER THEY WILL NEED TO EARN SUCCESS AND ENJOY HAPPY, FULFILLING LIVES AS ADULTS.
FOR FAR TOO LONG, NORFOLK HAS BEEN MARKED BY CONCENTRATIONS OF CHRONIC, INTERGENERATIONAL POVERTY AND DEPENDENCY, WITH A POVERTY RATE ALMOST TWICE THE STATE AVERAGE AND OVER 25% OF OUR CHILDREN...
FOR FAR TOO LONG, NORFOLK HAS BEEN MARKED BY CONCENTRATIONS OF CHRONIC, INTERGENERATIONAL POVERTY AND DEPENDENCY, WITH A POVERTY RATE ALMOST TWICE THE STATE AVERAGE AND OVER 25% OF OUR CHILDREN GROWING UP IN POVERTY. EVERYONE ALWAYS SAYS THAT "THEY" SHOULD DO SOMETHING ABOUT THIS (WHOEVER "THEY" ARE). WELL, WE DECIDED THAT WE AND OUR COMMUNITY PARTNERS ARE "THEY". NEXT STEP TO SUCCESS IS A FREE AFTER-SCHOOL AND SUMMER EXPERIENTIAL LEARNING PROGRAM THAT EMPOWERS TEENAGERS FROM LOW-INCOME HOUSEHOLDS IN NORFOLK TO BUILD THE INDEPENDENT, RESILIENT CHARACTER THEY WILL NEED TO EARN SUCCESS AND ENJOY HAPPY, FULFILLING LIVES AS ADULTS. BY INSPIRING OUR YOUTH TO ADHERE TO THE DATA-VALIDATED "SUCCESS SEQUENCE," OUR ULTIMATE OBJECTIVE IS TO CUT THE POVERTY RATE IN OUR CITY BY ONE-HALF WITHIN A GENERATION. WE WILL ACCOMPLISH THIS BY HONING THE CHARACTER STRENGTHS, LIFE SKILLS, SUCCESS STRATEGIES, AND HIGH SELF-EXPECTATIONS THAT WILL ENABLE OUR YOUTH TO REACH ESCAPE VELOCITY FROM THEIR ECONOMICALLY DISADVANTAGED BACKGROUNDS. THESE "SUCCESS STORIES" (AS WE CALL OUR YOUTH) WILL THEN BECOME THE "INFLUENCERS" OF THEIR PEERS WITHIN THE COMMUNITIES WHERE POVERTY IS MOST CONCENTRATED, GRADUALLY BUT STEADILY CHANGING THE EDUCATIONAL OUTCOMES, SOCIAL NORMS, CAREER EXPECTATIONS AND LIVING ENVIRONMENT THAT HAVE KEPT TOO MANY YOUNG FOLKS IN OUR CITY FROM REACHING THEIR FULL POTENTIAL.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $4,313,284 | $1,589,640 | +1.7% |
| Expenses | $1,314,882 | $1,372,901 | 0.0% |
| Net Income | $2,998,402 | $216,739 | +12.8% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| CHARLES V MCPHILLIPS | PRESIDENT | 14.00 |
Officer
Director
|
$0 | $0 | $15,000 |
| DONALD F PRICE | VICE PRESIDENT | 0.75 |
Officer
Director
|
$0 | $0 | $15,000 |
| WA PRINCE | TREASURER | 0.50 |
Officer
Director
|
$0 | $0 | $15,000 |
| MICHAEL K KERNER | DIRECTOR | 0.50 |
Director
|
$0 | $0 | $15,000 |
| KEVIN SWEENEY | SECRETARY | 0.75 |
Officer
Director
|
$0 | $0 | $15,000 |
| ROBERT MCCARTNEY | CHIEF EXECUTIVE OFFICER | 12.00 |
Officer
|
$0 | $25,561 | $316,632 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | No data | No data | No data | No data |
| 2024 | $4,313,284 | $1,314,882 | $3,665,405 | $2,998,402 |
| 2023 | $1,589,640 | $1,372,901 | $342,142 | $216,739 |
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