Striving Together Equals Progress Inc

Nonprofit profile at a glance

EIN
743261554
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024, Form 990-N 2022
Location
Newark, NJ, USA
Phone
8622340474
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$124,406
Expenses
$76,175
Assets
$186,740
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Stanley Foy (Executive Director)

People named in this filing

  • Stanley Foy (Executive Director)
  • Ibrahim Hughes (Treasurer)
  • Christopher Duffy (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The S.T.E.P organization was started in November 2000 by five concerned men from the Newark, NJ area. S.T.E.P. has developed a program format that addresses the cultural, educational, and emotional well-being of all program participants. The basic components of the program include a core curriculum dealing with culture, spirituality, science, leadership, economics and health and wellness. The program also includes a child outreach process, special lectures, cultural and educational field trips, nutrition, self-defense training, and an emphasis on community service

What it reported doing in 2024

S.T.E.P. has developed a program format that addresses the cultural, educational, and emotional well-being of all program participants. The basic components of the program include a core curriculum dealing with culture, spirituality, science, leadership, economics and health and wellness. The program also includes a child outreach process, special lectures, cultural and educational field trips, nutrition, self-defense training, and an emphasis on community service with a growing base of local members.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 12
  • Transparency & Controls: 100
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 9.6%; rating input score 10
  • Program expense ratio: 15.6%; rating input score 16

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 38.8%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 2.45; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 9.3%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -106.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 28.2% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 29.7% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 9.6% of revenue deployed · 15.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $12K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 10/100.
  • High — Financial Efficiency: Program expense ratio scored 16/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.