Stem Next Opportunity Fund
- Assets
- $11.2m
- Revenue
- $12.1m
- Investments
- $0.0
- Employees
- 17
- Location
- San Diego, CA
- Founding
- 04/2017
- Data as of
- 12/2022
- EIN
- 81-4834326
Organization Overview
Stem Next Opportunity Fund is located in San Diego, CA. The organization was established in 2017. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 12/2022, Stem Next Opportunity Fund employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stem Next Opportunity Fund 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 12/2022, Stem Next Opportunity Fund generated $12.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $10.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Stem Next Opportunity Fund has awarded 120 individual grants totaling $14,477,279. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
STEM NEXT OPPORTUNITY FUND IS A NATIONAL LEADER, STRATEGIC GUIDE, POLICY ADVOCATE, AND INVESTOR THAT IS BRINGING ABOUT A TRANSFORMATIVE EXPANSION OF HIGH-QUALITY AND INCLUSIVE STEM LEARNING OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 WITH A PARTICULAR FOCUS ON KIDS OF COLOR, GIRLS AND YOUTH IN UNDER-RESOURCED COMMUNITIES. OUR MISSION IS EXPANDING EXCEPTIONAL STEM LEARNING OPPORTUNITIES OUTSIDE THE CLASSROOM FOR ALL CHILDREN EVERYWHERE. THROUGH STEM LEARNING IN AFTERSCHOOL AND SUMMER, STEM NEXT CREATES PATHWAYS TO ECONOMIC OPPORTUNITY AND FUELS INNOVATION.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 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 ACHIEVE OUR COMMON GOAL OF EQUITY IN STEM. 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 & CONNECTING PROBLEM-SOLVERS ACROSS COMMUNITIES- ADVANCING POLICY & RESEARCH: POWERING LASTING CHANGE IN STEM LEARNING BY PUTTING IDEAS INTO ACTION- LEADING MOONSHOT BETS: LOCAL, REGIONAL & NATIONAL CHALLENGES THAT CREATE SEISMIC STEM LEARNING SHIFTS FOR YOUTH & EDUCATORSEVERY $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, STEM NEXT PROGRAMS CREATE SEISMIC STEM LEARNING SHIFTS FOR MILLIONS OF YOUTH AND HUNDREDS OF THOUSANDS OF EDUCATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Ottinger Exec Dir/secy | OfficerTrustee | 40 | $337,104 |
Teresa Drew Deputy Director | 40 | $247,500 | |
Kam Kyzer Sr Dir Development | 20 | $227,379 | |
Nicole Evans Dir Resource Devel | 40 | $175,161 | |
Quincy Brown Dir Space Fellow | 40 | $172,858 | |
Patti Curtis Inform Educ Fellow | 40 | $172,460 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mainspring Consulting Llc Strategic Advisor | 12/30/22 | $275,000 |
Sabrina Gomez Stem Education Advisor | 12/30/22 | $169,000 |
Building Impact Strategic Advisor | 12/30/22 | $100,000 |
Stem Education Insights Data & Eval Stem Settings | 12/30/22 | $108,303 |
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 | $12,120,074 |
| Noncash contributions included in lines 1a–1f | $4,013,668 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,120,074 |
| Total Program Service Revenue | $38,252 |
| Investment income | $30,451 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$58,341 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,130,436 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,341,466 |
| 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. | $842,535 |
| Compensation of current officers, directors, key employees. | $86,266 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,483,442 |
| Pension plan accruals and contributions | $280,474 |
| Other employee benefits | $85,771 |
| Payroll taxes | $149,363 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,738 |
| Fees for services: Accounting | $40,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,827 |
| Fees for services: Other | $2,602,908 |
| Advertising and promotion | $0 |
| Office expenses | $8,366 |
| Information technology | $19,330 |
| Royalties | $0 |
| Occupancy | $13,637 |
| Travel | $110,211 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,180 |
| All other expenses | $18,913 |
| Total functional expenses | $10,860,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,129,458 |
| Savings and temporary cash investments | $52,880 |
| Pledges and grants receivable | $3,195,877 |
| Accounts receivable, net | $8,235 |
| 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 | $4,675 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,776,587 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,167,712 |
| Accounts payable and accrued expenses | $189,041 |
| Grants payable | $189,600 |
| 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 | $401,914 |
| Total liabilities | $780,555 |
| Net assets without donor restrictions | $798,663 |
| Net assets with donor restrictions | $9,588,494 |
| 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 | $11,167,712 |
Grants Awarded
Over the last fiscal year, Stem Next Opportunity Fund has awarded $2,808,180 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS PURPOSE: STEM PROGRAMS | $276,000 |
VARIOUS - SEE ATTACHED SCHED PURPOSE: STEM PROGRAMS | $2,532,180 |