Family Promise Of Bergen County A New Jersey Non Profit Corporation

About Family Promise Of Bergen County A New Jersey Non Profit Corporation

Family Promise Of Bergen County A New Jersey Non Profit Corporation (EIN: 222853599) is a nonprofit organization based in Ridgewood, NJ, classified under NTEE code L41Z. The organization reported total revenue of $2.1M and total assets of $3.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Family Promise Of Bergen County A New Jersey Non Profit Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Family Promise Of Bergen County A New Jersey Non Profit Corporation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 5%
• programs: 85%
• fundraising: 10%

According to IRS 990 filings, Family Promise Of Bergen County A New Jersey Non Profit Corporation allocates its expenses as follows: admin: 5%, programs: 85%, fundraising: 10%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further information on individual salaries.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Family Promise Of Bergen County A New Jersey Non Profit Corporation's IRS 990 filings:

• Revenue has shown a declining trend from $2,419,712 in 2020 to $1,762,630 in 2023, which could impact future program sustainability.
• The organization's liabilities have fluctuated, reaching a high of $157,762 in 2022 before decreasing to $55,470 in 2023.

Strengths

The following positive indicators were identified for Family Promise Of Bergen County A New Jersey Non Profit Corporation:

• Consistently high percentage of expenses dedicated to programs, indicating a strong focus on their mission.
• Healthy asset growth from $715,520 in 2016 to $3,227,138 in 2023, demonstrating financial stability.
• Low administrative and fundraising costs suggest efficient operations.

Frequently Asked Questions about Family Promise Of Bergen County A New Jersey Non Profit Corporation

Filing History

IRS 990 filing history for Family Promise Of Bergen County A New Jersey Non Profit Corporation showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2023), Family Promise Of Bergen County A New Jersey Non Profit Corporation's revenue has grown by 70%, moving from $1.0M to $1.8M. Total assets increased by 413.5% over the same period, from $628K to $3.2M. Total functional expenses rose by 180.7%, from $628K to $1.8M. In its most recent filing year (2023), Family Promise Of Bergen County A New Jersey Non Profit Corporation reported a deficit of $575, with expenses exceeding revenue. The organization holds $55K in liabilities against $3.2M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $3.2M.

Year-by-Year Financial Summary

• 2023: Revenue of $1.8M, expenses of $1.8M, and assets of $3.2M (revenue -9.4% year-over-year).
• 2022: Revenue of $1.9M, expenses of $1.6M, and assets of $3.3M (revenue -19.0% year-over-year).
• 2021: Revenue of $2.4M, expenses of $1.5M, and assets of $3.0M (revenue -0.7% year-over-year).
• 2020: Revenue of $2.4M, expenses of $1.8M, and assets of $2.1M (revenue +60.6% year-over-year).
• 2019: Revenue of $1.5M, expenses of $1.0M, and assets of $1.4M (revenue +37.7% year-over-year).
• 2018: Revenue of $1.1M, expenses of $956K, and assets of $930K (revenue +5.4% year-over-year).
• 2017: Revenue of $1.0M, expenses of $960K, and assets of $804K (revenue +17.0% year-over-year).
• 2016: Revenue of $887K, expenses of $901K, and assets of $716K (revenue -20.9% year-over-year).
• 2015: Revenue of $1.1M, expenses of $832K, and assets of $724K (revenue +175.8% year-over-year).
• 2014: Revenue of $406K, expenses of $476K, and assets of $449K (revenue -62.9% year-over-year).
• 2014: Revenue of $1.1M, expenses of $916K, and assets of $525K (revenue +66.2% year-over-year).
• 2013: Revenue of $659K, expenses of $793K, and assets of $351K (revenue +0.3% year-over-year).
• 2012: Revenue of $657K, expenses of $795K, and assets of $542K (revenue -36.7% year-over-year).
• 2011: Revenue of $1.0M, expenses of $628K, and assets of $628K.

Data Sources and Methodology

This transparency report for Family Promise Of Bergen County A New Jersey Non Profit Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.