NEXT STEP LIVING (EIN 934123114) - 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

2023

Legal Domicile

Principal Officer

Michael Dennehy

Phone

6034962094

Tax Period

2025-01-01 to 2025-12-31

NEXT STEP LIVING, founded in 2023, is a community nonprofit in the Housing & Shelter sector that reported $1.1M in total revenue in fiscal year 2025. Revenue surged 4046% from the prior year, signaling strong growth momentum. The organization ran a surplus of $991K, a strong 90% operating margin.

Mission

To provide housing for individuals with intellectual and developmental disabilities who would otherwise be homeless

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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 (2025)

Revenue Breakdown

Contributions & Grants $997,023

Program Service Revenue $106,800

Investment Income $140

Other Revenue $0

TOTAL REVENUE $1,103,963

Expense Breakdown

Grants Paid $0

Salaries & Benefits $42,426

Fundraising Expenses $0

Program Expenses $112,662

Other Expenses $70,236

TOTAL EXPENSES $112,662

Year-over-Year Comparison

	2025	2024	Change
Revenue	$1,103,963	$26,626	+40.5%
Expenses	$112,662	$9,257	+11.2%
Net Income	$991,301	$17,369	+56.1%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Dennehy	President	10	Officer Director	$0	$0	$0
Bryan Gould	Vice President	1	Officer Director	$0	$0	$0
Tara Reardon	Treasurer	1	Officer Director	$0	$0	$0
Shawn Millerick	Director	1	Director	$0	$0	$0
Jim Burke	Director	1	Director	$0	$0	$0
Ken Koornneef	Director	1	Director	$0	$0	$0
Joya Dennehy	Executive Director	20	Key Emp	$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
2025	$1,103,963	$112,662	$1,008,670	$991,301

NEXT STEP LIVING