Family Promise Of Essex County Inc
Family Promise of Essex County: Strong Program Focus, but Transparency Lacking on Specifics
EIN: 222841105 · Montclair, NJ · NTEE: L41Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $1.3M |
| Program Spending | 85% |
| Net Assets | $708K |
| Transparency Score | 75/100 |
Is Family Promise Of Essex County Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Family Promise Of Essex County Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Family Promise Of Essex County Inc
Family Promise Of Essex County Inc (EIN: 222841105) is a nonprofit organization based in Montclair, NJ, classified under NTEE code L41Z. The organization reported total revenue of $2.3M and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Family Promise Of Essex County Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Family Promise Of Essex County Inc is a mid-size nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.3M |
| Surplus / Deficit | +$9K |
| Total Assets | $996K |
| Total Liabilities | $288K |
| Net Assets | $708K |
| Operating Margin | 0.7% |
| Debt-to-Asset Ratio | 28.9% |
| Months of Reserves | 9.3 months |
Financial Health Grade: A
In 2023, Family Promise Of Essex County Inc reported a surplus of $9K with revenue exceeding expenses, holds 9.3 months of operating reserves (strong position), has a debt-to-asset ratio of 28.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Family Promise Of Essex County Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.4% | -2.0% | +10.8% |
| 2022 | +25.4% | +53.1% | +2.2% |
| 2021 | +19.7% | +13.3% | +15.5% |
| 2020 | +18.8% | -14.4% | +81.4% |
| 2019 | -4.3% | +4.6% | -24.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Family Promise Of Essex County Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Family Promise Of Essex County Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $9K, with revenue exceeding expenses.
- Debt-to-asset ratio: 28.9%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided financial data, making a specific assessment difficult without further information.
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 Essex County Inc's IRS 990 filings:
- Lack of detailed breakdown for program expenses within the provided financial data.
- Absence of a clear transparency report or detailed impact metrics.
- Limited information on executive compensation in the provided data.
Strengths
The following positive indicators were identified for Family Promise Of Essex County Inc:
- Consistent revenue generation over several years, indicating stable donor support.
- Positive net assets, growing from $419,404 in 2019 to $1,632,581 in 2023, demonstrating financial health.
- Mission-focused organization addressing homelessness in Essex County, NJ.
Frequently Asked Questions about Family Promise Of Essex County Inc
Is Family Promise Of Essex County Inc a legitimate charity?
Family Promise Of Essex County Inc (EIN: 222841105) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.3M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Family Promise Of Essex County Inc spend its money?
Family Promise Of Essex County Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Family Promise Of Essex County Inc tax-deductible?
Family Promise Of Essex County Inc is registered as a tax-exempt nonprofit (EIN: 222841105). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Family Promise Of Essex County Inc's spending goes to programs?
Family Promise Of Essex County Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Family Promise Of Essex County Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Family Promise Of Essex County Inc is above average for NTEE category L41Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Family Promise Of Essex County Inc located?
Family Promise Of Essex County Inc is headquartered in Montclair, New Jersey and files with the IRS under EIN 222841105. It is classified under NTEE code L41Z.
How many years of IRS 990 filings does Family Promise Of Essex County Inc have?
Family Promise Of Essex County Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.3M in total revenue.
What does Family Promise Of Essex County Inc do?
Family Promise Of Essex County Inc is a nonprofit organization in the Housing & Shelter sector, located in Montclair, New Jersey. It is classified under NTEE code L41Z.
How much revenue does Family Promise Of Essex County Inc have?
Family Promise Of Essex County Inc reported total revenue of $2,301,443. Based on 13 IRS 990 filings on record.
What are Family Promise Of Essex County Inc's total assets?
Family Promise Of Essex County Inc holds total assets of $1,632,581 as reported in IRS 990 filings.
Where is Family Promise Of Essex County Inc located?
Family Promise Of Essex County Inc is based in Montclair, New Jersey.
What is Family Promise Of Essex County Inc's EIN?
Family Promise Of Essex County Inc's Employer Identification Number (EIN) is 222841105. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Family Promise Of Essex County Inc?
Family Promise Of Essex County Inc is classified under NTEE code L41Z (Housing & Shelter).
Is Family Promise Of Essex County Inc a registered 501(c)(3)?
Yes, Family Promise Of Essex County Inc is recognized as a tax-exempt organization by the IRS. EIN: 222841105.
Does Family Promise Of Essex County Inc file IRS Form 990?
Yes, Family Promise Of Essex County Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Family Promise Of Essex County Inc's revenue in 2023?
In the 202312 filing period, Family Promise Of Essex County Inc reported total revenue of $1,288,321, total expenses of $1,278,887, and net assets of $995,518.
Is Family Promise Of Essex County Inc's revenue growing or declining?
Family Promise Of Essex County Inc's revenue is relatively stable. Revenue went from $1,333,999 (202212) to $1,288,321 (202312), a -3.4% change. Based on 13 filings on record.
What is Family Promise Of Essex County Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Family Promise Of Essex County Inc covers tax period 202312. It shows revenue of $1,288,321, expenses of $1,278,887, total assets of $995,518, and liabilities of $287,507.
How much does Family Promise Of Essex County Inc spend on programs vs administration?
Based on IRS 990 analysis, Family Promise Of Essex County Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Family Promise Of Essex County Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Family Promise Of Essex County Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Family Promise Of Essex County Inc?
The following concerns were identified: Lack of detailed breakdown for program expenses within the provided financial data.. Absence of a clear transparency report or detailed impact metrics.. Limited information on executive compensation in the provided data.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Family Promise Of Essex County Inc's strengths?
Positive indicators for Family Promise Of Essex County Inc include: Consistent revenue generation over several years, indicating stable donor support.. Positive net assets, growing from $419,404 in 2019 to $1,632,581 in 2023, demonstrating financial health.. Mission-focused organization addressing homelessness in Essex County, NJ.. These findings are derived from AI analysis of the organization's financial filings.
How does Family Promise Of Essex County Inc compensate executives?
Executive compensation is not explicitly detailed in the provided financial data, making a specific assessment difficult without further information. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent growth in assets from $419,404 in 2019 to $1,632,581 in 2023, what specific strategies has Family Promise of Essex County implemented to achieve such significant financial strengthening?
The provided data indicates strong asset growth, but the specific strategies driving this growth (e.g., major donor campaigns, endowment building, successful grant applications) are not detailed within the given financial snippets. Further investigation into their annual reports or strategic plans would be necessary.
Filing History
IRS 990 filing history for Family Promise Of Essex County Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Family Promise Of Essex County Inc's revenue has grown by 109.3%, moving from $616K to $1.3M. Total assets increased by 106.8% over the same period, from $481K to $996K. Total functional expenses rose by 132.3%, from $550K to $1.3M. In its most recent filing year (2023), Family Promise Of Essex County Inc reported a surplus of $9K, with revenue exceeding expenses. The organization holds $288K in liabilities against $996K in assets (debt-to-asset ratio: 28.9%), resulting in net assets of $708K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.3M | $996K | $288K | — | — |
| 2022 | $1.3M | $1.3M | $898K | $193K | — | View 990 |
| 2021 | $1.1M | $852K | $879K | $190K | — | View 990 |
| 2020 | $889K | $752K | $761K | $283K | — | — |
| 2019 | $748K | $879K | $419K | $62K | — | View 990 |
| 2018 | $781K | $841K | $557K | $31K | — | View 990 |
| 2017 | $942K | $851K | $647K | $8K | — | View 990 |
| 2016 | $780K | $747K | $613K | $24K | — | View 990 |
| 2015 | $887K | $681K | $566K | $15K | — | View 990 |
| 2014 | $729K | $756K | $414K | $21K | — | View 990 |
| 2013 | $732K | $704K | $538K | $50K | — | View 990 |
| 2012 | $622K | $603K | $496K | $9K | — | View 990 |
| 2011 | $616K | $550K | $481K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.3M, and assets of $996K (revenue -3.4% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.3M, and assets of $898K (revenue +25.4% year-over-year).
- 2021: Revenue of $1.1M, expenses of $852K, and assets of $879K (revenue +19.7% year-over-year).
- 2020: Revenue of $889K, expenses of $752K, and assets of $761K (revenue +18.8% year-over-year).
- 2019: Revenue of $748K, expenses of $879K, and assets of $419K (revenue -4.3% year-over-year).
- 2018: Revenue of $781K, expenses of $841K, and assets of $557K (revenue -17.0% year-over-year).
- 2017: Revenue of $942K, expenses of $851K, and assets of $647K (revenue +20.8% year-over-year).
- 2016: Revenue of $780K, expenses of $747K, and assets of $613K (revenue -12.1% year-over-year).
- 2015: Revenue of $887K, expenses of $681K, and assets of $566K (revenue +21.6% year-over-year).
- 2014: Revenue of $729K, expenses of $756K, and assets of $414K (revenue -0.3% year-over-year).
- 2013: Revenue of $732K, expenses of $704K, and assets of $538K (revenue +17.8% year-over-year).
- 2012: Revenue of $622K, expenses of $603K, and assets of $496K (revenue +1.0% year-over-year).
- 2011: Revenue of $616K, expenses of $550K, and assets of $481K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Family Promise Of Essex County Inc:
Data Sources and Methodology
This transparency report for Family Promise Of Essex County Inc 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.