Next Step Housing Inc

Analysis

Next Step Housing Inc is a registered charity in United States, based in Gaithersburg, MD. It received its IRS tax-exemption ruling in July 1997, 29 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2023, Next Step Housing Inc reported income of $100k and spending of $148k, spending 148% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $82k to $100k (+21%), an average of +5.0% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 155% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Next Step Housing Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 38th percentile within MD. Charities of a similar size with the same main cause include Coto de Casa Inc ($100k), Carteret Housing and Development Corporation ($100k) and Danns House ($100k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. At year end it held assets of $514k against liabilities of $1.1m, net assets of -$605k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.