Next Step Network Inc
- Assets
- $1.9m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Louisville, KY
- Founding
- 08/2012
- Data as of
- 12/2023
- EIN
- 61-1656588
Organization Overview
Next Step Network Inc is located in Louisville, KY. The organization was established in 2012. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Next Step Network Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Next Step Network Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Next Step Network Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $984.7k during the year ending 12/2023. While expenses have increased by 0.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PUTTING SUSTAINABLE HOMEOWNERSHIP WITHIN REACH OF EVERYONE, WHILE TRANSFORMING THE MANUFACTURED HOUSING INDUSTRY THROUGH CONSUMER EDUCATION, AFFORDABILITY AND ENERGY-EFFICIENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEXT STEP'S MISSION IS TO PUT SUSTAINABLE HOMEOWNERSHIP WITHIN EVERYONE'S REACH WHILE TRANSFORMING THE MANUFACTURED HOUSING INDUSTRY THROUGH CONSUMER EDUCATION, ENERGY EFFICIENCY, AND AFFORDABILITY. OUR SOCIAL ENTERPRISE MODEL COMPRISES A PARENT NONPROFIT (NEXT STEP NETWORK), DEDICATED TO EDUCATION, TRAINING, AND ADVOCACY, AND A SUBSIDIARY (NEXT STEP HOMES) THAT FACILITATES THE PURCHASE AND SALE OF HOMES FROM MANUFACTURERS AND EARNS REVENUE FROM MANUFACTURERS, DEVELOPERS, ETC. NEXT STEP IS A COLLABORATION BETWEEN SOCIAL ENTERPRISE AND PRIVATE BUSINESS THAT CREATES MORE VALUE FOR THE HOMEBUYER THAN ONE ACTOR ALONE. FOR MORE THAN A DECADE, NEXT STEP HAS TRAINED NONPROFIT ORGANIZATIONS AND MISSION-DRIVEN ENTITIES ON THE MANUFACTURED HOUSING DONE RIGHT MODEL, WHICH ALLOWS THEM TO REDUCE THEIR CONSTRUCTION COSTS, INCREASE THEIR PRODUCTION EFFICIENCIES, AND INCREASE THEIR HOMES' LONG-TERM APPRECIATION. THEY ALSO SUPPORT LOW-INCOME HOMEBUYERS WITH EDUCATION AND ACCESS TO QUALITY MORTGAGE LOANS. THE NEXT STEP HOMES' BRAND PROMISES THE INDUSTRY'S HIGHEST QUALITY AND ENERGY-EFFICIENCY STANDARD AVAILABLE TODAY. WE SOLVE THESE THREE PROBLEMS FOR OUR HOMEBUYERS: 1) INCREASE ACCESS TO A LOWER-COST HOME FOR HOMEOWNERS LOCKED OUT OF THE MARKET, 2) LOWER THE OVERALL OPERATING COST OF HOMEOWNERSHIP THROUGH ENERGY STAR+ EFFICIENCIES, 3) INCREASE EQUITY AND RESALE VALUE, PROVIDING A TOOL TO BREAK INTERGENERATIONAL CYCLES OF POVERTY. IN 2021, NEXT STEP COMPLETED PARTICIPATION IN THE DELA PROGRAMME, A GLOBAL ACCELERATOR TO OFFER A SPACE FOR SCALING SOCIALLY DRIVEN INITIATIVES CO- CREATED BY ASHOKA AND IKEA SOCIAL ENTREPRENEURSHIP. THE SYSTEMS CHANGE PRINCIPLES TAUGHT AS A PART OF THIS ENGAGEMENT INFORMED OUR NEW FIVE-YEAR STRATEGIC PLAN TO SCALE OUR IMPACT IN COMMUNITIES NATIONWIDE. ADDITIONALLY, NEXT STEP JOINED THE UNDERSERVED MORTGAGE MARKETS COALITION - A COALITION OF HOUSING ADVOCACY ORGANIZATIONS DEDICATED TO BETTER SERVING TRADITIONALLY UNDERSERVED HOUSING MARKETS, INCLUDING MANUFACTURED HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacey Epperson President & | OfficerTrustee | 40 | $154,465 |
Billie Wells Finance Dire | Officer | 40 | $93,450 |
Jay Arneja Secretary | OfficerTrustee | 2 | $0 |
Deborah Campbell Board Member | Trustee | 2 | $0 |
Sarah Kackar Board Member | Trustee | 2 | $0 |
Adonis Logan Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $635,742 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $635,742 |
| Total Program Service Revenue | $376,119 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,058,582 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,535 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $324,519 |
| Compensation of current officers, directors, key employees. | $10,820 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $350,761 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,099 |
| Payroll taxes | $31,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $534 |
| Fees for services: Accounting | $12,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $131,280 |
| Advertising and promotion | $3,637 |
| Office expenses | $1,623 |
| Information technology | $26,569 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $34,026 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,978 |
| Insurance | $8,994 |
| All other expenses | $0 |
| Total functional expenses | $984,712 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,556,041 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $300,220 |
| Accounts receivable, net | $1,602 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,300 |
| Net Land, buildings, and equipment | $2,292 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,862,455 |
| Accounts payable and accrued expenses | $64,793 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $234,718 |
| Total liabilities | $299,511 |
| Net assets without donor restrictions | $1,487,944 |
| Net assets with donor restrictions | $75,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,862,455 |