Steppingstone Foundation Inc

Analysis

Steppingstone Foundation Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in April 1991, 35 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Steppingstone Foundation Inc reported income of $7.4m and spending of $6.3m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.0m to $7.4m (+23%), an average of +5.3% a year. The sharpest change came in the year to June 2021, when income rose by 93%. Over the whole period it spent 59% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Steppingstone Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Columbus Bilingual Academy - North ($7.4m), Brazos Christian School Inc ($7.4m) and Cook Inlet Native Head Start ($7.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 4.6% of the total. Compensation of current officers, directors and key employees was $576k (9.1% of expenses). Other salaries and wages came to $3.1m. It paid $111k in professional fundraising fees. At year end it held assets of $23.0m against liabilities of $1.4m, net assets of $21.6m. It reported 141 employees.