Family Promise of the Lakeshore

Analysis

Family Promise of the Lakeshore is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in February 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 the Lakeshore reported income of $295k and spending of $287k, spending 97% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $395k to $295k (-25%), an average of -14% a year. The sharpest change came in the year to December 2022, when income dropped by 49%. Over the whole period it spent 79% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Promise of the Lakeshore sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 61st percentile within MI. Charities of a similar size with the same main cause include Lake Forest-Lake Bluff Senior Citizens Foundation ($295k), Marthas Foundation ($295k) and Al-Maun - Neighborly Needs - of Las Vegas NV ($295k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. Compensation of current officers, directors and key employees was $49k (17% of expenses). Other salaries and wages came to $118k. At year end it held assets of $280k against liabilities of $19k, net assets of $261k. It reported 10 employees.