Family Option Inc

Analysis

Family Option Inc is a registered charity in United States, based in Prospect, CT. It received its IRS tax-exemption ruling in January 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Family Option Inc reported income of $5.8m and spending of $5.9m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $5.8m (+20%), an average of +4.7% a year. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Option Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Crisis Control Ministry Inc ($5.8m), Cornerstone Senior Communities of Remsen ($5.8m) and Quest Community Development Organization Inc ($5.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.6% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $256k (4.4% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $3.5m against liabilities of $3.0m, net assets of $510k. It reported 143 employees.