Family Promise of Sarasota Inc

Analysis

Family Promise of Sarasota Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in June 2013, 13 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 December 2023, Family Promise of Sarasota Inc reported income of $135k and spending of $146k, spending 108% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $37k to $135k (+269%), an average of +55% a year. The sharpest change came in the year to December 2022, when income rose by 131%. Over the whole period it spent 113% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Promise of Sarasota Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 48th percentile within FL. Charities of a similar size with the same main cause include Washington Indian Civil Rights Commission ($135k), Lake Band Booster Club ($135k) and Backyard Bulldogs Child Care ($135k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $136k against liabilities of $0, net assets of $136k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.