Family Promise of Midland Texas Inc

Analysis

Family Promise of Midland Texas Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in March 2010, 16 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 Midland Texas Inc reported income of $902k and spending of $1.0m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.0m to $902k (-54%), an average of -18% a year. The sharpest change came in the year to December 2020, when income rose by 118%. Over the whole period it spent 35% 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 Midland Texas Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 82nd percentile within TX. Charities of a similar size with the same main cause include The Time Is Now to Help the Children and Elderly ($902k), Gardena Marine Ave Senior Housing Inc ($902k) and Judah International Outreach Ministries Inc ($901k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $94k (9.0% of expenses). Other salaries and wages came to $322k. At year end it held assets of $7.8m against liabilities of $60k, net assets of $7.7m. It reported 10 employees.