Family Promise Of Gaston County
Family Promise Of Gaston County faces persistent deficits and declining assets.
EIN: 20580265 · Gastonia, NC · NTEE: L41 · Updated: 2026-03-28
Is Family Promise Of Gaston County 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 Gaston County directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Family Promise Of Gaston County
Family Promise Of Gaston County (EIN: 20580265) is a nonprofit organization based in Gastonia, NC, classified under NTEE code L41. The organization reported total revenue of $233K and total assets of $32K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Family Promise Of Gaston County's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Family Promise Of Gaston County is a small nonprofit that has been operating for 24 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $233K |
| Total Expenses | $257K |
| Surplus / Deficit | $-23,976 |
| Total Assets | $32K |
| Total Liabilities | $74K |
| Net Assets | $-41,652 |
| Operating Margin | -10.3% |
| Debt-to-Asset Ratio | 228.5% |
| Months of Reserves | 1.5 months |
Financial Health Grade: D
In 2021, Family Promise Of Gaston County reported a deficit of $24K with expenses exceeding revenue, holds 1.5 months of operating reserves (limited), has a debt-to-asset ratio of 228.5% (high leverage).
Financial Trends
Over 11 years of filings (2011–2021), Family Promise Of Gaston County's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +123.5% | +32.9% | -49.3% |
| 2020 | -54.6% | -21.6% | -59.8% |
| 2019 | -17.3% | -41.8% | -22.4% |
| 2018 | -12.3% | +24.3% | -12.2% |
| 2017 | -28.2% | -25.4% | -9.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Gaston County with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Family Promise Of Gaston County allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $24K, with expenses exceeding revenue.
- Debt-to-asset ratio: 228.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is a positive for minimizing executive overhead.
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 Gaston County's IRS 990 filings:
- Consistent operational deficits (e.g., $233,069 revenue vs. $257,045 expenses in 202106)
- Significant decline in assets from $272,659 in 201506 to $32,416 in 202106
- Liabilities ($74,068 in 202106) exceeding total assets ($32,416)
- Negative net assets in the latest filing period
Strengths
The following positive indicators were identified for Family Promise Of Gaston County:
- Consistent 0% officer compensation reported across all filings
- Long history of IRS 990 filings (11 filings) providing transparency into past operations
Frequently Asked Questions about Family Promise Of Gaston County
Is Family Promise Of Gaston County a legitimate charity?
Based on AI analysis of IRS 990 filings, Family Promise Of Gaston County (EIN: 20580265) some concerns. Mission Score: 55/100. 4 red flags identified, 2 strengths noted.
How does Family Promise Of Gaston County spend its money?
Family Promise Of Gaston County directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Family Promise Of Gaston County tax-deductible?
Family Promise Of Gaston County is registered as a tax-exempt nonprofit (EIN: 20580265). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Family Promise Of Gaston County financially stable?
Based on the IRS 990 data, the organization is not financially stable. It has consistently reported expenses exceeding revenue in recent years (e.g., $257,045 expenses vs. $233,069 revenue in 202106) and its assets have significantly declined from $272,659 in 201506 to $32,416 in 202106, while liabilities have increased to $74,068.
Why have the organization's assets decreased so dramatically?
The organization's assets have decreased from a high of $272,659 in 201506 to $32,416 in 202106. This decline coincides with several years of expenses exceeding revenue, suggesting that the organization may have been drawing down its reserves to cover operational costs.
What is the impact of the increasing liabilities?
Liabilities have increased to $74,068 in 202106, exceeding the organization's total assets of $32,416. This indicates that the organization owes more than it owns, which is a significant financial risk and could impact its ability to operate or secure future funding.
How does the lack of officer compensation affect the organization?
The consistent reporting of 0% officer compensation across all filings suggests that the organization is not incurring executive salary costs, which can be a positive for directing more funds to programs. However, it could also raise questions about leadership structure and sustainability if key roles are entirely volunteer-based.
Filing History
IRS 990 filing history for Family Promise Of Gaston County showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Family Promise Of Gaston County's revenue has grown by 120.4%, moving from $106K to $233K. Total assets decreased by 82.7% over the same period, from $187K to $32K. Total functional expenses rose by 124%, from $115K to $257K. In its most recent filing year (2021), Family Promise Of Gaston County reported a deficit of $24K, with expenses exceeding revenue. The organization holds $74K in liabilities against $32K in assets (debt-to-asset ratio: 228.5%), resulting in net assets of $-41,652.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $233K | $257K | $32K | $74K | — | — |
| 2020 | $104K | $193K | $64K | $82K | — | View 990 |
| 2019 | $230K | $247K | $159K | $88K | — | View 990 |
| 2018 | $278K | $423K | $205K | $117K | — | View 990 |
| 2017 | $317K | $340K | $234K | $0 | — | — |
| 2016 | $441K | $456K | $257K | $0 | — | View 990 |
| 2015 | $426K | $355K | $273K | $0 | — | View 990 |
| 2014 | $148K | $178K | $164K | $0 | — | View 990 |
| 2013 | $136K | $143K | $195K | $0 | — | View 990 |
| 2012 | $141K | $126K | $202K | $0 | — | View 990 |
| 2011 | $106K | $115K | $187K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $233K, expenses of $257K, and assets of $32K (revenue +123.5% year-over-year).
- 2020: Revenue of $104K, expenses of $193K, and assets of $64K (revenue -54.6% year-over-year).
- 2019: Revenue of $230K, expenses of $247K, and assets of $159K (revenue -17.3% year-over-year).
- 2018: Revenue of $278K, expenses of $423K, and assets of $205K (revenue -12.3% year-over-year).
- 2017: Revenue of $317K, expenses of $340K, and assets of $234K (revenue -28.2% year-over-year).
- 2016: Revenue of $441K, expenses of $456K, and assets of $257K (revenue +3.7% year-over-year).
- 2015: Revenue of $426K, expenses of $355K, and assets of $273K (revenue +187.9% year-over-year).
- 2014: Revenue of $148K, expenses of $178K, and assets of $164K (revenue +8.5% year-over-year).
- 2013: Revenue of $136K, expenses of $143K, and assets of $195K (revenue -3.2% year-over-year).
- 2012: Revenue of $141K, expenses of $126K, and assets of $202K (revenue +33.1% year-over-year).
- 2011: Revenue of $106K, expenses of $115K, and assets of $187K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Family Promise Of Gaston County:
Data Sources and Methodology
This transparency report for Family Promise Of Gaston County 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.