Family Promise Of Skagit Valley
EIN: 462556043 · Sedro Woolley, WA · NTEE: P20
| Metric | Value |
|---|---|
| Total Revenue | $1.0M |
| Total Expenses | $710K |
| Net Assets | $307K |
Is Family Promise Of Skagit Valley Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Family Promise Of Skagit Valley
Family Promise Of Skagit Valley (EIN: 462556043) is a nonprofit organization based in Sedro Woolley, WA, classified under NTEE code P20. The organization reported total revenue of $1.0M and total assets of $418K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Family Promise Of Skagit Valley's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Family Promise Of Skagit Valley is a mid-size nonprofit that has been operating for 12 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 31.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $693K |
| Total Expenses | $710K |
| Surplus / Deficit | $-17,530 |
| Total Assets | $314K |
| Total Liabilities | $7K |
| Net Assets | $307K |
| Operating Margin | -2.5% |
| Debt-to-Asset Ratio | 2.2% |
| Months of Reserves | 5.3 months |
Financial Health Grade: B
In 2023, Family Promise Of Skagit Valley reported a deficit of $18K with expenses exceeding revenue, holds 5.3 months of operating reserves (adequate), has a debt-to-asset ratio of 2.2% (very low leverage).
Financial Trends
Over 10 years of filings (2014–2023), Family Promise Of Skagit Valley's revenue has grown at a compound annual growth rate (CAGR) of 31.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +18.3% | +6.4% | -5.9% |
| 2022 | +13.5% | +32.0% | -19.3% |
| 2021 | -12.1% | +24.6% | +2.7% |
| 2020 | +113.1% | +74.2% | +82.3% |
| 2019 | +9.3% | +4.9% | +24.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Family Promise Of Skagit Valley has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Family Promise Of Skagit Valley with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $18K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.2%.
Frequently Asked Questions about Family Promise Of Skagit Valley
Is Family Promise Of Skagit Valley a legitimate charity?
Based on AI analysis of IRS 990 filings, Family Promise Of Skagit Valley (EIN: 462556043) insufficient data. 0 red flags identified, 0 strengths noted.
How does Family Promise Of Skagit Valley spend its money?
Detailed spending breakdown data is not yet available for Family Promise Of Skagit Valley. Check back for updated IRS 990 analysis.
Are donations to Family Promise Of Skagit Valley tax-deductible?
Family Promise Of Skagit Valley is registered as a tax-exempt nonprofit (EIN: 462556043). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Family Promise Of Skagit Valley located?
Family Promise Of Skagit Valley is headquartered in Sedro Woolley, Washington and files with the IRS under EIN 462556043. It is classified under NTEE code P20.
How many years of IRS 990 filings does Family Promise Of Skagit Valley have?
Family Promise Of Skagit Valley has 10 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 $1.0M in total revenue.
Filing History
IRS 990 filing history for Family Promise Of Skagit Valley showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Family Promise Of Skagit Valley's revenue has grown by 1058.5%, moving from $60K to $693K. Total assets increased by 444.5% over the same period, from $58K to $314K. Total functional expenses rose by 32532.4%, from $2K to $710K. In its most recent filing year (2023), Family Promise Of Skagit Valley reported a deficit of $18K, with expenses exceeding revenue. The organization holds $7K in liabilities against $314K in assets (debt-to-asset ratio: 2.2%), resulting in net assets of $307K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $693K | $710K | $314K | $7K | — | — |
| 2022 | $585K | $668K | $333K | $9K | — | View 990 |
| 2021 | $516K | $506K | $413K | $7K | — | View 990 |
| 2020 | $587K | $406K | $402K | $5K | — | — |
| 2019 | $275K | $233K | $221K | $4K | — | View 990 |
| 2018 | $252K | $222K | $177K | $2K | — | — |
| 2017 | $249K | $201K | $152K | $7K | — | View 990 |
| 2016 | $193K | $169K | $103K | $5K | — | View 990 |
| 2015 | $130K | $112K | $80K | $6K | — | View 990 |
| 2014 | $60K | $2K | $58K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $693K, expenses of $710K, and assets of $314K (revenue +18.3% year-over-year).
- 2022: Revenue of $585K, expenses of $668K, and assets of $333K (revenue +13.5% year-over-year).
- 2021: Revenue of $516K, expenses of $506K, and assets of $413K (revenue -12.1% year-over-year).
- 2020: Revenue of $587K, expenses of $406K, and assets of $402K (revenue +113.1% year-over-year).
- 2019: Revenue of $275K, expenses of $233K, and assets of $221K (revenue +9.3% year-over-year).
- 2018: Revenue of $252K, expenses of $222K, and assets of $177K (revenue +1.2% year-over-year).
- 2017: Revenue of $249K, expenses of $201K, and assets of $152K (revenue +29.1% year-over-year).
- 2016: Revenue of $193K, expenses of $169K, and assets of $103K (revenue +48.6% year-over-year).
- 2015: Revenue of $130K, expenses of $112K, and assets of $80K (revenue +116.9% year-over-year).
- 2014: Revenue of $60K, expenses of $2K, and assets of $58K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Family Promise Of Skagit Valley:
Data Sources and Methodology
This transparency report for Family Promise Of Skagit Valley 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.