Family Independence Inc

Analysis

Family Independence Inc is a registered charity in United States, based in Roxbury, MA. It received its IRS tax-exemption ruling in April 2019, 7 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 June 2023, Family Independence Inc reported income of $2.1m and spending of $1.4m, leaving 34% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $1.5m to $2.1m (+41%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 188%. Over the whole period it spent 42% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Family Independence Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Inglis Community Services Incorporated ($2.1m), Compassion Planet ($2.1m) and Eve Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.0% and program service revenue 102% of the total. Compensation of current officers, directors and key employees was $114k (8.4% of expenses). Other salaries and wages came to $612k. At year end it held assets of $5.6m against liabilities of $767k, net assets of $4.9m. It reported 12 employees.