Family Promise Inc
- Assets
- $6.3m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 48
- Location
- Summit, NJ
- Founding
- 11/1988
- Data as of
- 12/2022
- EIN
- 52-1591461
Organization Overview
Family Promise Inc is located in Summit, NJ. The organization was established in 1988. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Family Promise Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Promise 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 12/2022, Family Promise Inc generated $6.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.8% each year . All expenses for the organization totaled $7.6m during the year ending 12/2022. While expenses have increased by 20.5% per year over the past 8 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.
Since 2019, Family Promise Inc has awarded 254 individual grants totaling $4,568,667. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FAMILY PROMISE EMPOWERS FAMILIES AND MOBILIZES COMMUNITIES. FAMILY PROMISE ORGANIZES THE DEVELOPMENT OF COMMUNITY-BASED AFFILIATE PROGRAMS THAT SERVE CHILDREN AND FAMILIES EXPERIENCING AND AT RISK OF HOMELESSNESS AND PROVIDES ONGOING SUPPORT FOR AFFILIATES TO EMPOWER FAMILIES TO ACHIEVE SUSTAINABLE INDEPENDENCE THROUGH A HOLISTIC, COMMUNITY-BASED RESPONSE. THROUGH HIGHLY INDIVIDUALIZED, PERSON-CENTERED, TRAUMA-INFORMED CARE, WE PROVIDE A COMPASSIONATE, COMPREHENSIVE RESPONSE TO THE CRISIS OF FAMILY HOMELESSNESS-PREVENTION SERVICES BEFORE FAMILIES REACH CRISIS, SHELTER AND CASE MANAGEMENT WHEN THEY BECOME HOMELESS, AND STABILIZATION PROGRAMS ONCE THEY HAVE SECURED HOUSING TO ENSURE THEY REMAIN INDEPENDENT. FAMILY PROMISE PROVIDES TECHNICAL ASSISTANCE AND EXPERTISE TO A NATIONAL NETWORK OF APPROXIMATELY 200 AFFILIATE ORGANIZATIONS IN 43 STATES, MOBILIZING AN AVERAGE OF 76,000 VOLUNTEERS AND SERVING APPROXIMATELY 125,086 FAMILIES AND 241,313 INDIVIDUALS EXPERIENCING HOMELESSNESS EACH YEAR
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY PROMISE PROVIDES TECHNICAL ASSISTANCE TO OUR NETWORK OF AFFILIATES ACROSS THE COUNTRY WHICH PROVIDE SHELTER, MEALS, AND COMPREHENSIVE SUPPORT SERVICES (INCLUDING PREVENTION AND STABILIZATION PROGRAMS) TO CHILDREN AND FAMILIES EXPERIENCING AND AT RISK OF HOMELESSNESS. OUR STAFF ASSISTS AFFILIATES THROUGH ORGANIZING COMMUNITY EFFORTS, ASSISTS WITH TRAINING/RECRUITING OF HOST SITES/VOLUNTEERS, PROVIDES GUIDANCE ON OPERATIONS, AND PROVIDES TECHNICAL ASSISTANCE. IN RECENT YEARS, WE HAVE INCREASED OUR SUPPORT TO AFFILIATES BY PROVIDING INSTRUCTION ON EXPANDING PREVENTION AND DIVERSION PROGRAMMING.
FAMILY PROMISE UNION COUNTY SERVES THE LOCAL UNION COUNTY, NJ, COMMUNITY THROUGH SHELTER, PREVENTION, AND STABILIZATION SERVICES. OVERNIGHT ACCOMMODATIONS AND MEALS HAVE TRADITIONALLY BEEN PROVIDED ON A ROTATING BASIS BY PARTICIPATING CONGREGATIONS. IN RESPONSE TO THE COVID-19 PANDEMIC, FAMILY PROMISE UNION COUNTY BEGAN SHELTERING FAMILIES IN TEMPORARY EMERGENCY SHELTER APARTMENTS AND ENGAGING CONGREGATIONS/VOLUNTEERS THROUGH MEAL COLLECTION AND DISTRIBUTION AND CONTINUES TO DO SO. A DAY CENTER IN ELIZABETH, NJ, SERVES AS THE PROGRAM'S CENTRAL LOCATION WHERE FAMILIES SPEND TIME DURING THE DAY AND STAFF PROVIDES CASE MANAGEMENT. THE PROGRAM ALSO INCLUDES PREVENTION AND DIVERSION SERVICES AND STABILIZATION PROGRAMS ADDRESSING HOUSING, EMPLOYMENT, FINANCIAL CAPABILITY, TRANSPORTATION, AND HEALTH/WELLNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nadim Ahmed Trustee | Trustee | 1 | $0 |
Joshua Barer Trustee | Trustee | 1 | $0 |
Kevin Barrett Trustee (term Ended 12/1/2022) | Trustee | 1 | $0 |
Betsy Bernard Board Chair | OfficerTrustee | 1 | $0 |
Sarah Bird Trustee | Trustee | 1 | $0 |
Victor Aloyo Trustee (resigned 6/24/2022) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,028 |
| Related organizations | $0 |
| Government grants | $947,930 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,700,427 |
| Noncash contributions included in lines 1a–1f | $472,348 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,649,385 |
| Total Program Service Revenue | $669,142 |
| Investment income | $11,449 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $618 |
| Net Income from Fundraising Events | -$36,514 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,634 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,304,830 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,250,149 |
| Grants and other assistance to domestic individuals. | $805,092 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $155,074 |
| Compensation of current officers, directors, key employees. | $15,184 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,512,583 |
| Pension plan accruals and contributions | $61,820 |
| Other employee benefits | $150,408 |
| Payroll taxes | $226,975 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $295 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,389 |
| Fees for services: Other | $692,395 |
| Advertising and promotion | $0 |
| Office expenses | $174,011 |
| Information technology | $175,327 |
| Royalties | $0 |
| Occupancy | $27,784 |
| Travel | $105,448 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $105,127 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,276 |
| Insurance | $25,037 |
| All other expenses | $0 |
| Total functional expenses | $7,572,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280 |
| Savings and temporary cash investments | $2,272,500 |
| Pledges and grants receivable | $458,308 |
| Accounts receivable, net | $200,786 |
| 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 | $85,684 |
| Net Land, buildings, and equipment | $33,074 |
| Investments—publicly traded securities | $3,204,484 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,255,116 |
| Accounts payable and accrued expenses | $443,374 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $443,374 |
| Net assets without donor restrictions | $5,619,813 |
| Net assets with donor restrictions | $191,929 |
| 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 | $6,255,116 |
Grants Awarded
Over the last fiscal year, Family Promise Inc has awarded $2,025,147 in support to 92 organizations.
| Grant Recipient | Amount |
|---|---|
FAMILY PROMISE OF BLOUNT COUNTY PURPOSE: GROW WITH GOOGLE, CLAYTON HOMES GRANT, FBH HOUSING GRANT, BELK POS GRANT | $19,000 |
FAMILY PROMISE IN ANOKA COUNTY PURPOSE: GRANTS FROM NATIONAL, CLAYTON HOMES GRANT | $10,000 |
FAMILY PROMISE OF ATHENS PURPOSE: GERSTNER HELPING HANDS, BELK POS GRANT | $16,000 |
FAMILY PROMISE OF AUGUSTA PURPOSE: GERSTNER HELPING HANDS, BELK POS GRANT | $16,000 |
FAMILY PROMISE OF DAVIE COUNTY PURPOSE: FBH HOUSING GRANT, FBH PREVENTION & SHELTER DIVERS, BELK POS GRANT | $11,000 |
FAMILY PROMISE OF BREVARD INC PURPOSE: FBH HOUSING GRANT, BELK POS GRANT | $11,000 |