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Nonprofiteer
← NEXT STEP HOUSING CORPORATION

Form 990 for tax year 2023

Filed by NEXT STEP HOUSING CORPORATION.

Totals

Total revenue
$151,453
Total expenses
$166,587
Contributions and grants received
$133,498
Grants paid
$0
Program service revenue
$16,223
Investment income
$1,709
Other revenue
$23
Total assets, end of year
$1,232,177
Total liabilities, end of year
$1,154,869
Net assets or fund balances, end of year
$77,308
Program services expenses (Part IX)
$156,971
Management and general expenses
$9,616
Fundraising expenses
$0
Program service expenses (Part III)
$156,971

Program services were 94.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $133,498

  • 2a · Program service revenue: RENTAL INCOME

    total $16,223 · related or exempt $16,223

  • 3 · Investment income

    total $1,709 · excluded $1,709

  • 11d · All other revenue

    total $23 · related or exempt $23

  • 11e · Other revenue, total

    $23

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $8,563 · program services $8,563

  • 11b · Fees: legal

    total $957 · program services $957

  • 11c · Fees: accounting

    total $7,060 · program services $3,304 · management and general $3,756

  • 11g · Fees: other

    total $24,306 · program services $24,306

  • 13 · Office expenses

    total $4,621 · program services $3,262 · management and general $1,359

  • 16 · Occupancy

    total $83,126 · program services $82,782 · management and general $344

  • 22 · Depreciation, depletion and amortization

    total $37,347 · program services $33,257 · management and general $4,090

  • 24e · All other expenses

    total $607 · program services $540 · management and general $67

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,985 · end of year $14,175

  • 4 · Accounts receivable

    beginning of year $14,273 · end of year $9,413

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,080 · end of year $2,582

  • 10a · Land, buildings and equipment: cost or other basis

    $1,570,266

  • 10b · Land, buildings and equipment: accumulated depreciation

    $697,367

  • 10c · Land, buildings and equipment, net

    beginning of year $899,182 · end of year $872,899

  • 15 · Other assets

    beginning of year $342,879 · end of year $333,108

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,950 · end of year $48,722

  • 21 · Escrow or custodial account liability

    end of year $3,523

  • 23 · Secured mortgages and notes payable

    beginning of year $826,030 · end of year $811,522

  • 25 · Other liabilities

    beginning of year $294,977 · end of year $291,102

  • 27 · Net assets without donor restrictions

    beginning of year $92,442 · end of year $77,308

Mission and programs · 2023

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.

Activities or mission (Part I)

TO CONSTRUCT AND MANAGE MULTI-FAMILY, LOW-INCOME, AND TRANSITIONAL HOUSING DEVELOPMENT.

  • 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.

    Expenses $156,971 · Revenue $16,246

As filed on the 2023 return.

Listed in Part VII

  • CARL NAGY-KOECHLIN

    DIRECTOR

    Total calculated
    $210,265
    From this org
    $0
    From related orgs
    $172,710
    Other
    $37,555
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $172,710 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,471 related
    Nontaxable benefits
    $0 + $32,084 related
    Filer's total
    $0 + $210,265 related

  • PETER MUNKENBECK

    PRESIDENT/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • MICHAEL KUHN

    TREASURER/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • LISA DRAPKIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3
THE EXECUTIVE DIRECTOR IS COMPENSATED BY A RELATED ORGANIZATION. THAT ORGANIZATION USED THE FOLLOWING TO ESTABLISH THEIR COMPENSATION: - INDEPENDENT COMPENSATION CONSULTANT - APPROVAL BY THE BOARD

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202403109349303195

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