Family Promise of Collin County Inc

Analysis

Family Promise of Collin County Inc is a registered charity in United States, based in Allen, TX. It received its IRS tax-exemption ruling in March 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 Collin County Inc reported income of $181k and spending of $165k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $188k to $181k (-3.6%), an average of -0.9% a year. The sharpest change came in the year to December 2021, when income rose by 18%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Promise of Collin County Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 55th percentile within TX. Charities of a similar size with the same main cause include Life Challenge of Michigan ($181k), Kerr County Area Christian Assistance Ministry ($181k) and Marian E Burch Adult Day Care and Rehabilitation Center ($181k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $56k (34% of expenses). Other salaries and wages came to $49k. At year end it held assets of $113k against liabilities of $38k, net assets of $75k. It reported 6 employees.