Family Resources Inc

Analysis

Family Resources Inc is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in February 1943, 83 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Family Resources Inc reported income of $11.1m and spending of $12.6m, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.1m to $11.1m (+9.7%), an average of +2.3% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Family Resources Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within IA. Charities of a similar size with the same main cause include Yolo Hospice Inc ($11.1m), Achievement Center for Children ($11.1m) and Coastal Health Systems of Brevard Inc ($11.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 9.1% of the total. Compensation of current officers, directors and key employees was $522k (4.1% of expenses). Other salaries and wages came to $6.6m. At year end it held assets of $3.0m against liabilities of $742k, net assets of $2.3m. It reported 248 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.