Next Step Ed

Nonprofit profile at a glance

EIN
813721812
IRS 990-EZ coverage
2017–2019
Forms available
Form 990-EZ 2019
Location
Huntersville, NC, USA
Phone
4073996336
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Education

Reported finances

Revenue
$137,855
Expenses
$143,430
Assets
$4,876
Liabilities
$1,100

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • JACOB HUNT (PRESIDENT)

People named in this filing

  • JACOB HUNT (PRESIDENT)
  • ALISTAIR HUNT (DIRECTOR)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Next step ed host and put on group piano and guitar lessons after school at elementary schools open to all interested students at the school. The organization has classes in charlotte mecklenburg schools in charlotte, nc. There are two types of programs: (1) a parent-funded program operates in affluent schools where parents can afford to pay tuition. Free or discounted tuition is available to students at these schools based upon financial need (2) a third party funded program operates in title i schools and other schools with large economically disadvantaged families. These programs are funded by grants and donations from the community at large and are free to the students participating.

What it reported doing in 2019

To provide educational lessons on the piano and guitar for all students in elementary schools that are interested. Free or discounted tuition will apply to students based upon financial need.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 82
  • Sustainability: 16
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.2%; rating input score 96
  • Program expense ratio: 92.5%; rating input score 92

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -4%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 31.5%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 79.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 67.1% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 27th percentile among comparable filings

Details

  • Where the money goes: 96.2% of revenue deployed · 92.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $133K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2017 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.