The Next Step Fund Inc

Analysis

The Next Step Fund Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in November 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, The Next Step Fund Inc reported income of $877k and spending of $1.0m, spending 115% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $826k to $877k (+6.3%), an average of +1.5% a year. The sharpest change came in the year to March 2022, when income rose by 60%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Next Step Fund Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Israel Manor ($877k), Student Homelessness Initiative Partnership of Frederick County in ($877k) and Pediatric Development Center Inc ($877k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 49% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $106k (10% of expenses). At year end it held assets of $1.4m against liabilities of $171k, net assets of $1.3m. It reported 14 employees.