Generations Family Services Inc
- Assets
- $438.0k
- Revenue
- $539.8k
- Investments
- $0.0
- Employees
- 13
- Location
- Raleigh, NC
- Founding
- Data as of
- 11/2023
- EIN
- 47-5645509
Organization Overview
Generations Family Services Inc is located in Raleigh, NC. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 11/2023, Generations Family Services Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Generations Family Services Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 11/2023, Generations Family Services Inc generated $539.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 41.8% each year . All expenses for the organization totaled $573.8k during the year ending 11/2023. While expenses have increased by 43.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE AND SUSTAIN THE QUALITY AND WELLBEING OF INDIVIDUALS' LIVES WITHIN THEIR ESTABLISHED COMMUNITIES BY PROVIDING FIDUCIARY, PROFESSIONAL AND SOUND FINANCIAL MANAGEMENT PLANNING, COLLABORATIVE SOCIAL SERVICES, AND SERVING AS A GUARDIAN OR IN OTHER SIMILAR FIDUCIARY CAPACITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BY "BRIDGING THE GAP" BETWEEN CLIENTS AND SERVICES, GFS HAS PLAYED A SIGNIFICANT ROLE IN WORKING DILIGENTLY AND TIRELESSLY TO SECURE SUITABLE HOUSING FOR CLIENTS EXPERIENCING HOMELESSNESS AND MINIMIZING THEIR LIKELIHOOD TO RETURN BACK TO HOMELESSNESS BY ENSURING TIMELY PAYMENTS OF RENT, UTILITIES, WATER AND ETC. GFS COLLABORATES AND WORKS CLOSELY WITH VARIOUS VENDORS AND PROVIDERS (LANDLORDS, MANAGED CARE, VA, SSA, SOCIAL SERVICES, MENTAL HEALTH, SUBSTANCE ABUSE, DEVELOPMENTAL DISABILITY) WITHIN THE COMMUNITY TO ENSURE THAT THE CLIENT IS APPROPRIATELY LINKED TO AND RECEIVING MUCH NEEDED SERVICES. SINCE GFS HAS BEEN IN BUSINESS WE HAVE SUCCESSFULLY TRANSITIONED 60 CLIENTS FROM HOMELESSNESS TO APPROPRIATE HOUSING. THROUGH OUR SSA PROGRAM, WE SERVED 200 CLIENTS IN 2023. THROUGH OUR VA PROGRAM, WE HAVE SERVED 300 CLIENTS IN 2023. THROUGH OUR GUARDIANSHIP PROGRAM, WE HAVE SERVED 30 CLIENTS IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrize Patrick Executive Di | Officer | 40 | $65,600 |
Paula Harris Board Member | Trustee | 1 | $0 |
Tawana James Treasurer | OfficerTrustee | 1 | $0 |
Katrina Loper Secretary | OfficerTrustee | 1 | $0 |
John Odom Vice Chair | OfficerTrustee | 1 | $0 |
Tracy Patrick Chair | OfficerTrustee | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $473,168 |
| All other contributions, gifts, grants, and similar amounts not included above | $40,838 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $514,006 |
| Total Program Service Revenue | $3,030 |
| Investment income | $13 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $88,900 |
| Compensation of current officers, directors, key employees. | $17,780 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,530 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $90,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,401 |
| Advertising and promotion | $0 |
| Office expenses | $20,523 |
| Information technology | $4,888 |
| Royalties | $0 |
| Occupancy | $18,360 |
| Travel | $939 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,490 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $813 |
| Insurance | $8,532 |
| All other expenses | $3,916 |
| Total functional expenses | $573,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,781 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $950 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $424,244 |
| Total assets | $437,975 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $424,244 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $14,900 |
| Other liabilities | $14,226 |
| Total liabilities | $453,370 |
| Net assets without donor restrictions | -$15,395 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $437,975 |