2Nd Story Associates

Nonprofit profile at a glance

EIN
260417729
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-EZ 2021
Location
Santa Barbara, CA, USA
Phone
8059651071
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,334,465
Expenses
$1,128,407
Assets
$16,526,365
Liabilities
$6,919,231

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Skip Szymanski (Vice President)
  • Veronica Loza (President)

People named in this filing

  • Skip Szymanski (Vice President)
  • Veronica Loza (President)
  • Rob Fredericks (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Assist low-income individuals and families based upon special needs and requests; and other related services.

What it reported doing in 2025

Provided resources to low-income individuals and families to find housing assistance; and contribute to the development of low-income housing projects. Also, paid for goods and services for the benefit of low-income individuals and families.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 94
  • Accountability: 82
  • Sustainability: 70
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.1%; rating input score 76
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.4%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 14.65; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 35.9% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -3.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 36.4% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 76.1% of revenue deployed · 90% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $1M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2022 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.