Overview
What is Next Steps Housing Corporation?
Next Steps Housing Corporation is a nonprofit organization located at 1035 Cambridge Street, Cambridge, Massachusetts. Their primary focus is on constructing, managing, operating, and maintaining affordable transitional and permanent housing developments, specifically for low-income individuals and those in transition. Their mission involves working on the Next Step Transitional project, an affordable housing development, aiming to provide a place of residence for those in need.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Next Steps Housing Corporation has achieved a solid rating of 79%, indicating a fair level of organizational performance in terms of accountability and finance. This score is derived solely from the Accountability & Finance category, reflecting the charity's commitment to transparency and responsible financial management.
The organization excels in several areas, including having a fully independent board and strong policies for conflict of interest and asset diversion, each receiving top points. Their program expense ratio stands at an impressive 86.27%, showcasing a significant commitment to directing funds towards their mission rather than administrative costs.
However, while the score is strong, there may be room for improvement in other areas of performance that are not reflected in this particular rating. Addressing these areas could enhance their overall impact and effectiveness in serving their community.
This AI summary has been generated from information found on Charity Navigator.
Is Next Steps Housing Corporation legitimate?
Next Steps Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Next Steps Housing Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Next Steps Housing Corporation?
The mission of Next Steps Housing Corporation is centered around constructing, managing, operating, and maintaining affordable transitional and permanent rental housing developments. Specifically, they focus on Next Step Transitional, a low-income housing project. Their activities encompass dealing with all aspects of this development, aiming to provide affordable living solutions for individuals in need of transitional housing.
What is the revenue of Next Steps Housing Corporation?
Next Steps Housing Corporation's revenue in 2023 was $151,453.
Who are the executives of Next Steps Housing Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $172,710
- Other: $37,555
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Next Steps Housing Corporation?
Next Steps Housing Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Next Steps Housing Corporation
Next Steps Housing Corporation is committed to constructing and managing affordable, multi-family, and transitional housing developments. Their mission encompasses the construction, management, operation, maintenance, and dealing with the multi-family, low-income, and transitional housing development known as Next Steps Transitional. This affordable housing development serves as a significant resource, providing both temporary and permanent rental accommodations. The corporation's activities extend beyond construction to include the ongoing operation and maintenance of this housing development. By doing so, Next Steps Housing Corporation contributes to addressing the housing needs of individuals and families with limited financial resources, offering them a secure and affordable living environment.
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Impact
October, 2024
Next Steps Housing Corporation significantly influences the affordable housing landscape by constructing and managing multi-family, low-income, and transitional housing developments. By developing properties like the Next Step Transitional, it provides essential housing solutions for individuals and families in need.
The organization addresses the pressing issue of housing affordability in Cambridge, MA, by offering transitional and permanent rental options that support residents in their journey toward stability and self-sufficiency. Its commitment to creating and maintaining these housing developments ensures that low-income families have access to safe, reliable homes, which is a critical component in fostering community resilience and well-being.
As a result, Next Steps Housing Corporation not only alleviates immediate housing challenges but also contributes to the broader social fabric by promoting inclusivity and providing pathways for economic advancement among its residents.
This information is meant to be a general summary of Next Steps Housing Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,709
- Program Service Revenue: $16,223
- Gross Receipts: $151,453
Assets and Liabilities:
- Total Assets: $1,264,399
- Total Liabilities: $1,171,957
- Net Assets: $92,442
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$16,223
Organization Details
Founding Year
2003
Principal Officer
Carl Nagy-Koechlin
NTEE Category
Code: L21 - Housing
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