Next Step Farms

Analysis

Next Step Farms is a registered charity in United States, based in Huntsville, AL. It received its IRS tax-exemption ruling in February 2020, 6 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 June 2023, Next Step Farms reported income of $189k and spending of $101k, leaving 47% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $164k to $189k (+16%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 16%. Over the whole period it spent 39% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Next Step Farms sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 53rd percentile within AL. Charities of a similar size with the same main cause include Share the Love Ocala Inc ($189k), Children of Mine ($189k) and Reach Out Orphanage Ministries ($189k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $38k (37% of expenses). Other salaries and wages came to $9,000. At year end it held assets of $655k against liabilities of $417k, net assets of $238k.