Stem Next Opportunity Fund

What it reported doing in 2024

STEM Next Opportunity Fund is a national, non-profit, non-partisan organization dedicated to scaling high-quality STEM (Science, Technology, Engineering, & Math) learning to millions of youth. Our mission is expanding exceptional STEM learning opportunities outside the classroom for all children everywhere. Through STEM learning in afterschool and summer PROGRAMS, STEM Next takes a field-building approach to creating pathways to economic opportunity.STEM learning beyond the classroom inspires youth and prepares them for future success in STEM as well as many other fields. Outside the structured school day, hands-on STEM learning provides a fertile environment to experiment, build confidence and develop life skills like critical thinking, collaboration, perseverance, creativity and communication. Despite this power and potential, STEM learning in afterschool and summer is underutilized and under-prioritized across the U.S a critical issue that STEM Next is working to solve as a national nonprofit. What We DoSTEM Next brings together a diversity of partners and leads synchronized efforts to strengthen and advance the out-of-school time STEM field. By leveraging partnerships, STEM Next mobilizes funding and accelerates what works to reach the 10 million young people served in more than 100,000 local afterschool and summer programs across all 50 states. For youth, our work increases STEM access, interest, identity, and career knowledge.Our three big strategic initiatives to Engage Learners Everywhere are: - Growing STEM Leaders: Raising awareness, building skills, and connecting problem-solvers across communities. This includes afterschool and summer educators and system leaders, as well as through our Flight Crew program for young people.- Advancing Policy & Research: Powering lasting change in STEM learning by putting ideas into action. Our Fellows help ensure that STEM is a policy priority in the U.S.- Leading Systems Change: Local, regional, national challenges that create seismic STEM learning shifts for youth and educators, like through our Institute for a STEM Ready America and industry-focused Centers of Excellence.Every $1 invested in STEM Next Opportunity Fund programs: - Enables more youth to build, invent and discover every afternoon.- Sparks summer STEM learning opportunities for youth.- Brings STEM opportunities to more families and communities across the U.S.Nationally and locally, our programs create seismic STEM learning shifts for millions of youth and hundreds of thousands of educators every year.

Financial Efficiency

• Mission deployment rate: 84.1%; rating input score 84
• Program expense ratio: 84%; rating input score 84
• Fundraising efficiency: $12.57 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 80%; rating input score 80; 16th percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0.8%; rating input score 37; 37th percentile among comparable filings
• Total-asset coverage ratio: 0.53; rating input score 17; 17th percentile among comparable filings
• Liabilities to assets ratio: 0.22; rating input score 55; 55th percentile among comparable filings
• Officer compensation ratio: 17.5%; rating input score 6; 6th percentile among comparable filings

Growth

• Program expense growth: 21.3% per year; rating input score 100; 91st percentile among comparable filings
• Revenue growth: 11.5% per year; rating input score 100; 79th percentile among comparable filings
• Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings