Family Promise of Essex County Inc

Analysis

Family Promise of Essex County Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in May 1988, 38 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Family Promise of Essex County Inc reported income of $1.3m and spending of $1.3m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $748k to $1.3m (+72%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 25%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Family Promise of Essex County Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within NJ. Charities of a similar size with the same main cause include Impact Community Development Corporation ($1.3m), Casa Victoria Housing Development Fund Company Inc ($1.3m) and Community Lodgings Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 1.8% of the total. Compensation of current officers, directors and key employees was $97k (7.5% of expenses). Other salaries and wages came to $388k. At year end it held assets of $996k against liabilities of $288k, net assets of $708k. It reported 16 employees.