Family Summits Inc
Family Summits Inc. reports significant deficit in latest fiscal year, with expenses exceeding revenue by over $166,000.
EIN: 205178011 · Marietta, GA · NTEE: D20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $251K |
| Total Expenses | $435K |
| Program Spending | 75% |
| Net Assets | $104K |
| Transparency Score | 65/100 |
Is Family Summits Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Family Summits Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Family Summits Inc
Family Summits Inc (EIN: 205178011) is a nonprofit organization based in Marietta, GA, classified under NTEE code D20. The organization reported total revenue of $251K and total assets of $91K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Family Summits Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Family Summits Inc is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $268K |
| Total Expenses | $435K |
| Surplus / Deficit | $-166,717 |
| Total Assets | $105K |
| Total Liabilities | $442 |
| Net Assets | $104K |
| Operating Margin | -62.2% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 2.9 months |
Financial Health Grade: C
In 2023, Family Summits Inc reported a deficit of $167K with expenses exceeding revenue, holds 2.9 months of operating reserves (limited), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Family Summits Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -17.9% | +178.3% | -61.4% |
| 2022 | +1439.5% | +411.3% | +167.9% |
| 2021 | -85.4% | -64.2% | -8.4% |
| 2020 | -7.8% | -45.6% | +206.3% |
| 2019 | +20.7% | +18.5% | +0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Summits Inc with a Mission Score of 65 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 Summits Inc 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 $167K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's officers are either unpaid or compensated through other means not reported as officer compensation, which is notable for an organization of its size.
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 Summits Inc's IRS 990 filings:
- Significant deficit in the most recent fiscal year (202309), with expenses ($434,542) substantially exceeding revenue ($267,825).
- Fluctuating revenue and expense patterns over the years, indicating potential instability in financial planning or funding.
- Substantial increase in liabilities from $140 in 202209 to $442 in 202309, though still relatively low in absolute terms.
Strengths
The following positive indicators were identified for Family Summits Inc:
- Consistent filing of IRS Form 990s over 13 periods, demonstrating transparency in reporting.
- No reported officer compensation across all filings, suggesting a lean executive structure or volunteer leadership.
- History of accumulating assets, reaching $271,537 in 202209, before the recent decline.
Frequently Asked Questions about Family Summits Inc
Is Family Summits Inc a legitimate charity?
Family Summits Inc (EIN: 205178011) is a registered tax-exempt nonprofit based in Georgia. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $251K. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Family Summits Inc spend its money?
Family Summits Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Family Summits Inc tax-deductible?
Family Summits Inc is registered as a tax-exempt nonprofit (EIN: 205178011). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Family Summits Inc's spending goes to programs?
Family Summits Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Family Summits Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Family Summits Inc is above average for NTEE category D20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Family Summits Inc located?
Family Summits Inc is headquartered in Marietta, Georgia and files with the IRS under EIN 205178011. It is classified under NTEE code D20.
How many years of IRS 990 filings does Family Summits Inc have?
Family Summits 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 $251K in total revenue.
Is Family Summits Inc. a good charity?
Family Summits Inc. has a mixed financial record. While it has operated for many years and consistently filed its 990s, the significant deficit in the latest fiscal year (202309) where expenses ($434,542) far outstripped revenue ($267,825) raises concerns about its current financial stability. Its historical lack of officer compensation is a positive sign of lean operations.
What caused the large increase in expenses in the 202309 period?
The provided data does not specify the exact causes for the increase in expenses from $156,148 in 202209 to $434,542 in 202309. A detailed functional expense statement from the 202309 Form 990 would be needed to understand if this was due to increased program activities, administrative costs, or other factors.
How does Family Summits Inc. fund its operations given the lack of officer compensation?
The consistent reporting of 0% officer compensation suggests that key leadership may be volunteers, or their compensation is structured in a way that is not reported under 'officer compensation' on the 990. This could indicate a highly dedicated volunteer base or alternative compensation models.
Filing History
IRS 990 filing history for Family Summits Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Family Summits Inc's revenue has grown by 139%, moving from $112K to $268K. Total assets increased by 100.2% over the same period, from $52K to $105K. Total functional expenses rose by 304.3%, from $107K to $435K. In its most recent filing year (2023), Family Summits Inc reported a deficit of $167K, with expenses exceeding revenue. The organization holds $442 in liabilities against $105K in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $104K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $268K | $435K | $105K | $442 | — | — |
| 2022 | $326K | $156K | $272K | $140 | — | — |
| 2021 | $21K | $31K | $101K | $123 | — | — |
| 2020 | $145K | $85K | $111K | $92 | — | View 990 |
| 2019 | $157K | $157K | $36K | $0 | — | View 990 |
| 2018 | $130K | $132K | $36K | $0 | — | View 990 |
| 2017 | $205K | $186K | $38K | $0 | — | View 990 |
| 2016 | $140K | $155K | $19K | $0 | — | View 990 |
| 2015 | $163K | $142K | $34K | $0 | — | View 990 |
| 2014 | $182K | $203K | $12K | $0 | — | View 990 |
| 2013 | $173K | $185K | $33K | $0 | — | View 990 |
| 2012 | $133K | $141K | $45K | $0 | — | View 990 |
| 2011 | $112K | $107K | $52K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $268K, expenses of $435K, and assets of $105K (revenue -17.9% year-over-year).
- 2022: Revenue of $326K, expenses of $156K, and assets of $272K (revenue +1439.5% year-over-year).
- 2021: Revenue of $21K, expenses of $31K, and assets of $101K (revenue -85.4% year-over-year).
- 2020: Revenue of $145K, expenses of $85K, and assets of $111K (revenue -7.8% year-over-year).
- 2019: Revenue of $157K, expenses of $157K, and assets of $36K (revenue +20.7% year-over-year).
- 2018: Revenue of $130K, expenses of $132K, and assets of $36K (revenue -36.5% year-over-year).
- 2017: Revenue of $205K, expenses of $186K, and assets of $38K (revenue +46.4% year-over-year).
- 2016: Revenue of $140K, expenses of $155K, and assets of $19K (revenue -14.4% year-over-year).
- 2015: Revenue of $163K, expenses of $142K, and assets of $34K (revenue -10.1% year-over-year).
- 2014: Revenue of $182K, expenses of $203K, and assets of $12K (revenue +4.9% year-over-year).
- 2013: Revenue of $173K, expenses of $185K, and assets of $33K (revenue +29.9% year-over-year).
- 2012: Revenue of $133K, expenses of $141K, and assets of $45K (revenue +19.1% year-over-year).
- 2011: Revenue of $112K, expenses of $107K, and assets of $52K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Family Summits Inc:
Data Sources and Methodology
This transparency report for Family Summits 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.