The Family Y

Analysis

The Family Y is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in December 1980, 46 years ago. 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 August 2023, The Family Y reported income of $3.2m and spending of $3.6m, spending 112% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.7m to $3.2m (+19%), an average of +4.4% a year. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Family Y sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Milpa ($3.2m), Erie Independence House Inc ($3.2m) and Reciprocal Ministries International ($3.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 19% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $1.5m (41% of expenses). At year end it held assets of $3.7m against liabilities of $899k, net assets of $2.8m. It reported 188 employees.