Family Ark Inc

Analysis

Family Ark Inc is a registered charity in United States, based in Jeffersonvlle, IN. It received its IRS tax-exemption ruling in December 1973, 53 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 Ark Inc reported income of $5.6m and spending of $4.2m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.3m to $5.6m (+142%), an average of +25% a year. The sharpest change came in the year to December 2023, when income rose by 75%. Over the whole period it spent 89% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Ark Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within IN. Charities of a similar size with the same main cause include Community Hope Foundation Inc ($5.6m), Goodworks Inc ($5.6m) and Society St Vincent de Paul Alameda ($5.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $126k (3.0% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $4.2m against liabilities of $1.3m, net assets of $2.9m. It reported 83 employees.