Family Management Financial Solutions Inc

Analysis

Family Management Financial Solutions Inc is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in May 2024, 2 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Family Management Financial Solutions Inc reported income of $533k and spending of $499k, spending 94% of its income. Across the 3 years on record, from December 2018 to December 2023, income grew from $230k to $533k (+131%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 120%. Over the whole period it spent 107% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Management Financial Solutions Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 74th percentile within IA. Charities of a similar size with the same main cause include Cloverdale Community Outreach Committee ($533k), Victims of Violence Intervention Program Inc ($533k) and Keren Zichron Moshe TR ($533k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $90k (18% of expenses). Other salaries and wages came to $120k. At year end it held assets of $1.4m against liabilities of $1.1m, net assets of $282k. It reported 10 employees.