Family Promise of Grand Rapids

Analysis

Family Promise of Grand Rapids is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in November 1997, 29 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 Grand Rapids reported income of $8.2m and spending of $6.1m, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $8.2m (+212%), an average of +33% a year. The sharpest change came in the year to December 2020, when income rose by 110%. Over the whole period it spent 81% 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 Grand Rapids sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within MI. Charities of a similar size with the same main cause include Region XII Council of Governments Inc ($8.2m), Miami Valley Housing Opportunities Inc ($8.2m) and Cots ($8.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $95k (1.5% of expenses). Other salaries and wages came to $2.5m. At year end it held assets of $12.0m against liabilities of $4.5m, net assets of $7.6m. It reported 65 employees.