Family Promise-Salt Lake

Analysis

Family Promise-Salt Lake is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in July 1996, 30 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 2024, Family Promise-Salt Lake reported income of $362k and spending of $353k, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income fell from $459k to $362k (-21%), an average of -4.7% a year. The sharpest change came in the year to June 2021, when income dropped by 27%. Over the whole period it spent 108% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Family Promise-Salt Lake sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 63rd percentile within UT. Charities of a similar size with the same main cause include The Open Shelter Inc ($362k), Our Place NH ($362k) and Dallas Life Support Corporation ($362k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $85k (24% of expenses). Other salaries and wages came to $95k. At year end it held assets of $1.2m against liabilities of $193k, net assets of $1.0m. It reported 4 employees.