Family Resource Associates Inc

Analysis

Family Resource Associates Inc is a registered charity in United States, based in Red Bank, NJ. It received its IRS tax-exemption ruling in November 1980, 46 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 Resource Associates Inc reported income of $2.9m and spending of $2.6m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.2m to $2.9m (-8.3%), an average of -2.1% a year. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Family Resource Associates Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include Puerto Rican High School ($2.9m), Housing Foundation ($2.9m) and Physicians Careconnection ($2.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $100k (3.8% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $3.8m against liabilities of $118k, net assets of $3.7m. It reported 97 employees.