Second Step Inc
Second Step Inc: Strong Financials, Room for Transparency
EIN: 222868513 · Newton, MA · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $2.2M |
| Program Spending | 75% |
| Net Assets | $5.1M |
| Transparency Score | 85/100 |
Is Second Step Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Second Step Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Second Step Inc
Second Step Inc (EIN: 222868513) is a nonprofit organization based in Newton, MA. The organization reported total revenue of $2.2M and total assets of $6.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Second Step Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Second Step Inc is a mid-size nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 9.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.5M |
| Total Expenses | $2.2M |
| Surplus / Deficit | +$2.3M |
| Total Assets | $6.8M |
| Total Liabilities | $1.8M |
| Net Assets | $5.1M |
| Operating Margin | 51.1% |
| Debt-to-Asset Ratio | 26.0% |
| Months of Reserves | 37.6 months |
Financial Health Grade: A
In 2024, Second Step Inc reported a surplus of $2.3M with revenue exceeding expenses, holds 37.6 months of operating reserves (strong position), has a debt-to-asset ratio of 26.0% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Second Step Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +81.9% | -7.0% | +47.0% |
| 2023 | -12.9% | +1.5% | +13.4% |
| 2022 | +23.2% | +11.7% | +6.4% |
| 2021 | +21.1% | +1.4% | +2.7% |
| 2020 | +0.8% | +4.3% | +6.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Second Step Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Second Step Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $2.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 26.0%.
Executive Compensation Analysis
Executive compensation for Second Step Inc. is not explicitly detailed in the provided data, making a specific assessment difficult without further filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Second Step Inc's IRS 990 filings:
- Lack of detailed executive compensation disclosure in provided data.
- Absence of clear, quantifiable impact metrics for programs.
Strengths
The following positive indicators were identified for Second Step Inc:
- Consistent revenue growth over the past several years, with a significant jump in 2024 to $4,475,445.
- Healthy asset base, growing from $3,300,758 in 2017 to $6,846,621 in 2024.
- Low liability-to-asset ratio, indicating strong financial stability.
- Positive net assets trend, demonstrating sound financial management.
Frequently Asked Questions about Second Step Inc
Is Second Step Inc a legitimate charity?
Second Step Inc (EIN: 222868513) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.2M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Second Step Inc spend its money?
Second Step Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Second Step Inc tax-deductible?
Second Step Inc is registered as a tax-exempt nonprofit (EIN: 222868513). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Second Step Inc's spending goes to programs?
Second Step Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Second Step Inc located?
Second Step Inc is headquartered in Newton, Massachusetts and files with the IRS under EIN 222868513.
How many years of IRS 990 filings does Second Step Inc have?
Second Step Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.2M in total revenue.
What does Second Step Inc do?
Second Step Inc is a nonprofit organization in the Unknown sector, located in Newton, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Second Step Inc have?
Second Step Inc reported total revenue of $2,228,907. Based on 13 IRS 990 filings on record.
What are Second Step Inc's total assets?
Second Step Inc holds total assets of $6,724,377 as reported in IRS 990 filings.
Where is Second Step Inc located?
Second Step Inc is based in Newton, Massachusetts.
What is Second Step Inc's EIN?
Second Step Inc's Employer Identification Number (EIN) is 222868513. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Second Step Inc?
Second Step Inc is classified under NTEE code Unknown (Unknown).
Is Second Step Inc a registered 501(c)(3)?
Second Step Inc appears in IRS records (EIN: 222868513). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Second Step Inc file IRS Form 990?
Yes, Second Step Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Second Step Inc's revenue in 2024?
In the 202406 filing period, Second Step Inc reported total revenue of $4,475,445, total expenses of $2,186,661, and net assets of $6,846,621.
Is Second Step Inc's revenue growing or declining?
Second Step Inc's revenue is growing. Revenue went from $2,460,325 (202306) to $4,475,445 (202406), a +81.9% change. Based on 13 filings on record.
What is Second Step Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Second Step Inc covers tax period 202406. It shows revenue of $4,475,445, expenses of $2,186,661, total assets of $6,846,621, and liabilities of $1,779,216.
How much does Second Step Inc spend on programs vs administration?
Based on IRS 990 analysis, Second Step Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Second Step Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Second Step Inc appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 4 strengths noted.
What are the red flags for Second Step Inc?
The following concerns were identified: Lack of detailed executive compensation disclosure in provided data.. Absence of clear, quantifiable impact metrics for programs.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Second Step Inc's strengths?
Positive indicators for Second Step Inc include: Consistent revenue growth over the past several years, with a significant jump in 2024 to $4,475,445.. Healthy asset base, growing from $3,300,758 in 2017 to $6,846,621 in 2024.. Low liability-to-asset ratio, indicating strong financial stability.. Positive net assets trend, demonstrating sound financial management.. These findings are derived from AI analysis of the organization's financial filings.
How does Second Step Inc compensate executives?
Executive compensation for Second Step Inc. is not explicitly detailed in the provided data, making a specific assessment difficult without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the substantial revenue increase from $2,460,325 in 2023 to $4,475,445 in 2024?
The provided data does not specify the exact reasons for the nearly 82% revenue increase in 2024, but it could be attributed to successful fundraising campaigns, new grant acquisitions, or expansion of services.
How does Second Step Inc. manage its liabilities, which have shown fluctuations but generally remained below 30% of total assets?
Second Step Inc. appears to maintain a conservative approach to liabilities, with the highest recorded being $1,879,456 in 2023 against $4,658,077 in assets, indicating a strong balance sheet and responsible financial stewardship.
Filing History
IRS 990 filing history for Second Step Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Second Step Inc's revenue has grown by 199.3%, moving from $1.5M to $4.5M. Total assets increased by 87.1% over the same period, from $3.7M to $6.8M. Total functional expenses rose by 16.8%, from $1.9M to $2.2M. In its most recent filing year (2024), Second Step Inc reported a surplus of $2.3M, with revenue exceeding expenses. The organization holds $1.8M in liabilities against $6.8M in assets (debt-to-asset ratio: 26.0%), resulting in net assets of $5.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $4.5M | $2.2M | $6.8M | $1.8M | — | View 990 |
| 2023 | $2.5M | $2.4M | $4.7M | $1.9M | — | View 990 |
| 2022 | $2.8M | $2.3M | $4.1M | $1.4M | — | View 990 |
| 2021 | $2.3M | $2.1M | $3.9M | $1.7M | — | View 990 |
| 2020 | $1.9M | $2.0M | $3.8M | $1.8M | — | View 990 |
| 2019 | $1.9M | $2.0M | $3.5M | $1.4M | — | View 990 |
| 2018 | $2.1M | $1.8M | $3.6M | $1.4M | — | View 990 |
| 2017 | $1.7M | $1.8M | $3.3M | $1.4M | — | View 990 |
| 2016 | $1.5M | $1.8M | $3.4M | $1.4M | — | View 990 |
| 2015 | $2.2M | $1.8M | $3.6M | $1.4M | — | View 990 |
| 2014 | $1.7M | $1.7M | $3.2M | $1.4M | — | View 990 |
| 2013 | $1.4M | $1.8M | $3.2M | $1.3M | — | View 990 |
| 2012 | $1.5M | $1.9M | $3.7M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $4.5M, expenses of $2.2M, and assets of $6.8M (revenue +81.9% year-over-year).
- 2023: Revenue of $2.5M, expenses of $2.4M, and assets of $4.7M (revenue -12.9% year-over-year).
- 2022: Revenue of $2.8M, expenses of $2.3M, and assets of $4.1M (revenue +23.2% year-over-year).
- 2021: Revenue of $2.3M, expenses of $2.1M, and assets of $3.9M (revenue +21.1% year-over-year).
- 2020: Revenue of $1.9M, expenses of $2.0M, and assets of $3.8M (revenue +0.8% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.0M, and assets of $3.5M (revenue -11.6% year-over-year).
- 2018: Revenue of $2.1M, expenses of $1.8M, and assets of $3.6M (revenue +26.9% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.8M, and assets of $3.3M (revenue +8.6% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.8M, and assets of $3.4M (revenue -30.3% year-over-year).
- 2015: Revenue of $2.2M, expenses of $1.8M, and assets of $3.6M (revenue +32.2% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.7M, and assets of $3.2M (revenue +16.5% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.8M, and assets of $3.2M (revenue -4.1% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.9M, and assets of $3.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Second Step Inc:
Data Sources and Methodology
This transparency report for Second Step Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.