Family Promise of Greater Chattanooga Inc

Analysis

Family Promise of Greater Chattanooga Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in November 1997, 29 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 Greater Chattanooga Inc reported income of $345k and spending of $402k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $544k to $345k (-37%), an average of -11% a year. The sharpest change came in the year to December 2020, when income rose by 124%. Over the whole period it spent 105% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Promise of Greater Chattanooga Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 65th percentile within TN. Charities of a similar size with the same main cause include Encompasskids ($345k), Bread of Life Inc ($345k) and Woodward Families Helping Families Inc ($345k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $57k (14% of expenses). Other salaries and wages came to $162k. At year end it held assets of $515k against liabilities of $46k, net assets of $469k. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.