Next Step Housing Corporation

Analysis

Next Step Housing Corporation is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in November 2004, 22 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Next Step Housing Corporation reported income of $151k and spending of $167k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $107k to $151k (+42%), an average of +9.2% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 117% 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 Corporation sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 52nd percentile within MA. Charities of a similar size with the same main cause include Whitehaven Economic Development Corporation ($151k), McAullife Apartments Inc ($152k) and Agape Village ($151k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 11% of the total. At year end it held assets of $1.2m against liabilities of $1.2m, net assets of $77k.

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.