Next Steps Housing Corporation

Nonprofit profile at a glance

EIN
830382839
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6174940444
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$231,770
Expenses
$249,171
Assets
$913,337
Liabilities
$853,430

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • CARL NAGY-KOECHLIN (EXECUTIVE DIRECTOR)
  • PETER MUNKENBECK (PRESIDENT)

Highest reported compensation

  • CARL NAGY-KOECHLIN (EXECUTIVE DIRECTOR): $205,735 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To construct, manage, operate, maintain and deal in all respects with the multi-family, low-income and transitional housing development known as next steps transitional, an affordable housing development.

What it reported doing in 2024

To construct, manage, operate, and maintain and deal in all respects with the multi-family, low-income and transitional housing development known as next step transitional, an affordable housing development. Creation and operation of affordable transitional and permanent rental housing.

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 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 65
  • Accountability: 85
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.8%; rating input score 51
  • Program expense ratio: 98.7%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -7.5%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 3.67; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 10.9%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 6.4% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 50.8% of revenue deployed · 98.7% of spending went to programs
  • Governance: 3 of 4 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $246K in reported program spending
  • Leadership: top reported pay $206K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 18 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 — Financial Efficiency: Mission deployment rate scored 51/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.