Step Up on Second Street Inc

Analysis

Step Up on Second Street Inc is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in August 1992, 34 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, Step Up on Second Street Inc reported income of $46.7m and spending of $46.6m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.2m to $46.7m (+101%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 38%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Step Up on Second Street Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Banco de Alimentos Puerto Rico Inc ($46.7m), Williamsburg Landing Inc ($46.7m) and Catholic Charities Community Services Inc ($46.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $701k (1.5% of expenses). Other salaries and wages came to $25.1m. At year end it held assets of $39.8m against liabilities of $12.6m, net assets of $27.2m. It reported 450 employees.