Next Chapter Foundation EIN 83-1067193

Next Chapter Foundation

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Shelters homeless pregnant women, mothers, and children, helping them find housing and become self-sufficient. For fiscal year 2023 it reported $522K in revenue, $460K in expenses, and $160K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Tacoma, WA
Website
www.nextchapterwa.org
Filings
4 on file (2020–2023)
Revenue
$522KFY2023
Expenses
$460K
Net assets
$160K
People
7
Filings
4
Updates
0
More identity details & actions ⌄
EIN  83-1067193 Public charity (501(c)(3)) Tacoma, WA
Form 990 (PDF)
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Size
$100K–1M
What they do
Shelters homeless pregnant women, mothers, and children, helping them find housing and become self-sufficient.
Leadership
Kathryn Hedrick · Board Member
Money in and out
$522K revenue, $460K expenses
Bottom line
58% program efficiency
Where the money goes · FY2023
Total revenue
$522K
Pt VIII · Ln 12
Total expenses
$460K
Pt IX · Ln 25
Net assets
$160K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $62K
Where spending went · Part IX cols B–D
Program services $0.58 Management & general $0.36 Fundraising $0.06
Program efficiency
58%
of spending reaches programs▼ -3% vs prior filing year
Operating runway
5.3mo
months of highly liquid reserves at operating expense rate▲ +56% vs prior filing year
Surplus margin
+12%
revenue over expenses, this year▲ +22% vs prior filing year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$522K
FY2023▲ +49%
Expenses
$460K
FY2023▲ +46%
Total assets
$2.6M
FY2023▲ ×27
Total liabilities
$2.5M
FY2023
Total revenue
$522K
Pt VIII · Ln 12
Total expenses
$460K
Pt IX · Ln 25
Net assets
$160K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$62K
Total assetsPt X · Ln 16$2.6M
Program-expense ratioPt IX · col B58%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

3 program services account for $267K of program spending, described in the organization's own filed words · FY2023.
01

We are pleased to report that we served a record 285 women and their children in 2023 who are experiencing homelessness. The cases are more complex than ever before that we are seeing with fentanyl causing havoc with families while renting costs have exploded.

$267Kprogram expense
02

We are thrilled to report that monique (mo) patterson participated in a 16-WEEK program at the university of washington tacoma to become a trainer and provider of an intensive parenting class. She will be able to offer the program to next chapter mothers (after she completes an additional ten weeks of intensive training).

Pt IX · col B
03

We are proud of our partnership with the institute for black justice (ibj). Together, we are hosting a legal clinic sometime this spring or early summer for up to 200 women (that's our cap).

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CNext Chapter Foundation
EINHdr · item D83-1067193
Principal addressHdr · item CTacoma, WA
WebsiteHdr · item Jwww.nextchapterwa.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L41)
Ruling yearIRS BMFSep 2018

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Next Chapter Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$518K · 99%
Program service revenue$3K · 1%
Contributions & grants99%$518K
Program service revenue1%$3K
— government grantsLn 1e$25K
Total revenueLn 12$522K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.58 Management & general $0.36 Fundraising $0.06
Program services58%$267K
Management & general36%$165K
Fundraising6%$27K
Total functional expensesLn 25$460K

Balance Sheet

Part X · end of year
CashLn 1$202K
Total assetsLn 16$2.6M
Total liabilitiesLn 26$2.5M
Total net assetsLn 32$160K
Months of cash on handcomputed5.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $202K · Operating expenses/yr $460K
5.3 months
Where the money goes
Program services
Program services $267K · Total expenses $460K
58%
Management & General
Management & general $165K · Total expenses $460K
36%
Fundraising
Fundraising $27K · Total expenses $460K
6%
Cost to raise $1
Fundraising expense (3-yr avg) $23K · Solicited contributions (3-yr avg) $357K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $518K · Total revenue $522K
99%
Government reliance
Government grants $25K · Total revenue $522K
5%
Earned-income share
Program service revenue $3K · Total revenue $522K
0.6%
Investment reliance
Investment income $0 · Total revenue $522K
0%
Program self-sufficiency
Program service revenue $3K · Total expenses $460K
0.7%
Growth & trend
Revenue growth (YoY)
This year $522K · Prior year $350K
+49%
Net-asset trend (YoY)
End of year $160K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $522K · Expenses $460K
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $2.6M
Net-asset ratio
Net assets $160K · Total assets $2.6M
6%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Kathryn Hedrick · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $460K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $184K · Total expenses $460K
40%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 58%
Overhead ratio 36%
Fundraising cost ratio 5%
Revenue growth 49%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2022
Total grants receivedfrom 2 funders$67K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$522K revenue · viewing · ⤓ 990 PDF
FY2022$350K revenue · ⤓ 990 PDF
FY2021$405K revenue · ⤓ 990 PDF
FY2020$95K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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