NEXT STEP TO SUCCESS (EIN 882408724) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2022

Legal Domicile

Principal Officer

ROBERT MCCARTNEY

Phone

7574041818

Tax Period

2023-07-01 to 2024-06-30

NEXT STEP TO SUCCESS, founded in 2022, is a community nonprofit in the Education sector that reported $1.6M in total revenue in fiscal year 2022. Expenses of $1.4M left a modest 14% surplus.

Mission

NEXT STEP TO SUCCESS WAS FOUNDED IN 2021 UNDER THE AUSPICES OF THE JAMES BARRY ROBINSON INSTITUTE AS A HIGH-PRIORITY INITIATIVE TO ADDRESS CHRONIC POVERTY IN NORFOLK. EACH DAY AT NSTS IS UNIQUE WHERE YOUTH ARE EMPOWERED TO LEARN NEW SKILLS AND COMPETENCIES. WE SEE OUR YOUTH AS OUR PARTNERS AND EMPOWER THESE STAKEHOLDERS TO MAKE GOOD DECISIONS IN THEIR LIVES AT SCHOOL, AT HOME, AND IN THE COMMUNITY.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,313,284

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,313,284

Expense Breakdown

Grants Paid $0

Salaries & Benefits $575,462

Fundraising Expenses $0

Program Expenses $1,126,561

Other Expenses $739,420

TOTAL EXPENSES $1,314,882

Year-over-Year Comparison

	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%

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

$376,632

Total Directors

$75,000

Key Employees

Highest Compensated

reported

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

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
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

NEXT STEP TO SUCCESS