Family Centers Inc

Analysis

Family Centers Inc is a registered charity in United States, based in Greenwich, CT. It received its IRS tax-exemption ruling in February 1955, 71 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Family Centers Inc reported income of $22.0m and spending of $21.8m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $16.3m to $22.0m (+35%), an average of +7.7% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Family Centers Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CT. Charities of a similar size with the same main cause include St Josephs Rehabilitation Center Inc ($21.9m), Horizon Education Centers ($22.0m) and SJB Child Development Centers ($21.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $519k (2.4% of expenses). Other salaries and wages came to $13.1m. At year end it held assets of $20.4m against liabilities of $2.2m, net assets of $18.2m. It reported 313 employees.