Family Promise of the South Bay

Analysis

Family Promise of the South Bay is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in August 2012, 14 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 the South Bay reported income of $1.5m and spending of $1.7m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $285k to $1.5m (+411%), an average of +50% a year. The sharpest change came in the year to December 2020, when income rose by 100%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Promise of the South Bay sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Tyler Day Nursery Association ($1.5m), Independence Inc ($1.5m) and Feed Spokane ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $111k (6.6% of expenses). Other salaries and wages came to $817k. At year end it held assets of $648k against liabilities of $344k, net assets of $304k. It reported 43 employees.