Family Resource Center South Atlantic
Family Resource Center South Atlantic faces declining revenue and recent operating deficits, maintaining 0% officer compensation.
EIN: 201257901 · Raleigh, NC · NTEE: P40 · Updated: 2026-03-28
Is Family Resource Center South Atlantic Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Family Resource Center South Atlantic directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Family Resource Center South Atlantic
Family Resource Center South Atlantic (EIN: 201257901) is a nonprofit organization based in Raleigh, NC, classified under NTEE code P40. The organization reported total revenue of $1.1M and total assets of $180K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Family Resource Center South Atlantic's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Family Resource Center South Atlantic is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.5M |
| Surplus / Deficit | $-215,045 |
| Total Assets | $162K |
| Total Liabilities | $84K |
| Net Assets | $78K |
| Operating Margin | -16.4% |
| Debt-to-Asset Ratio | 52.0% |
| Months of Reserves | 1.3 months |
Financial Health Grade: D
In 2023, Family Resource Center South Atlantic reported a deficit of $215K with expenses exceeding revenue, holds 1.3 months of operating reserves (limited), has a debt-to-asset ratio of 52.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Family Resource Center South Atlantic's revenue has grown at a compound annual growth rate (CAGR) of 1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -28.5% | -17.8% | -45.9% |
| 2022 | -18.9% | -5.0% | -9.4% |
| 2021 | +4.1% | -11.7% | +104.9% |
| 2020 | -5.9% | -3.1% | -20.8% |
| 2019 | +2.2% | +1.7% | +29.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2004 |
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 Resource Center South Atlantic with a Mission Score of 70 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Family Resource Center South Atlantic 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $215K, with expenses exceeding revenue.
- Debt-to-asset ratio: 52.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is highly unusual for an organization with over $1 million in annual revenue and suggests a strong commitment to directing all funds towards its mission, or that executive functions are performed by volunteers or through other arrangements not classified as officer compensation.
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 Resource Center South Atlantic's IRS 990 filings:
- Declining revenue trend (from $2.3M in 2019 to $1.3M in 2023)
- Expenses exceeding revenue in the last two reported periods (2022 and 2023)
- Significant operating deficit in 2023 ($215,045)
Strengths
The following positive indicators were identified for Family Resource Center South Atlantic:
- Consistent reporting of 0% officer compensation, indicating strong commitment to mission-focused spending
- Long history of IRS 990 filings (13 filings), demonstrating transparency and compliance
- Assets consistently exceed liabilities, indicating solvency
Frequently Asked Questions about Family Resource Center South Atlantic
Is Family Resource Center South Atlantic a legitimate charity?
Based on AI analysis of IRS 990 filings, Family Resource Center South Atlantic (EIN: 201257901) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Family Resource Center South Atlantic spend its money?
Family Resource Center South Atlantic directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Family Resource Center South Atlantic tax-deductible?
Family Resource Center South Atlantic is registered as a tax-exempt nonprofit (EIN: 201257901). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Family Resource Center South Atlantic financially stable given recent deficits?
The organization has reported expenses exceeding revenue in the last two fiscal periods (2023 and 2022), with a deficit of over $215,000 in 2023. This trend, coupled with declining revenues from a peak in 2019, suggests potential financial instability that warrants close monitoring.
How does the 0% officer compensation impact the organization?
Reporting 0% officer compensation is a significant positive for transparency and resource allocation, as it means no funds are directly paid to officers. This could indicate a volunteer-led executive team or that executive functions are compensated through other means not categorized as officer compensation on the 990.
What is the trend in the organization's revenue?
Revenue has shown a declining trend since its peak of $2,309,561 in 2019, falling to $1,311,321 in 2023. This nearly 43% decrease over four years is a significant concern for the organization's financial health and capacity.
Are the organization's assets sufficient to cover its liabilities?
In 2023, assets were $161,732 and liabilities were $84,090, indicating that assets comfortably exceed liabilities. However, the asset base is relatively small compared to annual expenses, offering limited reserves.
Filing History
IRS 990 filing history for Family Resource Center South Atlantic showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Family Resource Center South Atlantic's revenue has grown by 12.9%, moving from $1.2M to $1.3M. Total assets decreased by 34.3% over the same period, from $246K to $162K. Total functional expenses rose by 48.1%, from $1.0M to $1.5M. In its most recent filing year (2023), Family Resource Center South Atlantic reported a deficit of $215K, with expenses exceeding revenue. The organization holds $84K in liabilities against $162K in assets (debt-to-asset ratio: 52.0%), resulting in net assets of $78K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.5M | $162K | $84K | — | View 990 |
| 2022 | $1.8M | $1.9M | $299K | $6K | — | View 990 |
| 2021 | $2.3M | $2.0M | $330K | $47K | — | View 990 |
| 2020 | $2.2M | $2.2M | $161K | $74K | — | View 990 |
| 2019 | $2.3M | $2.3M | $203K | $88K | — | View 990 |
| 2018 | $2.3M | $2.2M | $157K | $65K | — | View 990 |
| 2017 | $1.8M | $1.9M | $128K | $46K | — | View 990 |
| 2016 | $1.7M | $1.6M | $209K | $20K | — | View 990 |
| 2015 | $2.2M | $2.2M | $186K | $38K | — | View 990 |
| 2014 | $1.9M | $1.9M | $195K | $7K | — | View 990 |
| 2013 | $1.9M | $1.9M | $150K | $387 | — | View 990 |
| 2012 | $1.5M | $1.5M | $177K | $0 | — | View 990 |
| 2011 | $1.2M | $1.0M | $246K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.5M, and assets of $162K (revenue -28.5% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.9M, and assets of $299K (revenue -18.9% year-over-year).
- 2021: Revenue of $2.3M, expenses of $2.0M, and assets of $330K (revenue +4.1% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.2M, and assets of $161K (revenue -5.9% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.3M, and assets of $203K (revenue +2.2% year-over-year).
- 2018: Revenue of $2.3M, expenses of $2.2M, and assets of $157K (revenue +23.2% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.9M, and assets of $128K (revenue +8.9% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.6M, and assets of $209K (revenue -23.1% year-over-year).
- 2015: Revenue of $2.2M, expenses of $2.2M, and assets of $186K (revenue +13.3% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.9M, and assets of $195K (revenue +2.3% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.9M, and assets of $150K (revenue +28.5% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.5M, and assets of $177K (revenue +26.7% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.0M, and assets of $246K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Family Resource Center South Atlantic:
Data Sources and Methodology
This transparency report for Family Resource Center South Atlantic 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.