Families Matter Inc

Analysis

Families Matter Inc is a registered charity in United States, based in Hallowell, ME. It received its IRS tax-exemption ruling in December 1995, 31 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, Families Matter Inc reported income of $2.8m and spending of $2.5m, spending 88% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.0m to $2.8m (+42%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 88% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Families Matter Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within ME. Charities of a similar size with the same main cause include Golden State YMCA ($2.8m), Mamas House Ministries ($2.8m) and Mattoon Area Young Mens Christian Association ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.0% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $214k (8.7% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $4.6m against liabilities of $0, net assets of $4.6m. It reported 40 employees.