Fortunate Families Inc
Fortunate Families Inc. maintains stable assets despite fluctuating revenues and occasional operating deficits.
EIN: 202314620 · Lexington, KY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $64K |
| Total Expenses | $87K |
| Program Spending | 80% |
| Net Assets | $86K |
| Transparency Score | 85/100 |
Is Fortunate Families Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fortunate Families Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fortunate Families Inc
Fortunate Families Inc (EIN: 202314620) is a nonprofit organization based in Lexington, KY. The organization reported total revenue of $64K and total assets of $74K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fortunate Families Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fortunate Families Inc is a micro nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $83K |
| Total Expenses | $87K |
| Surplus / Deficit | $-4,070 |
| Total Assets | $88K |
| Total Liabilities | $2K |
| Net Assets | $86K |
| Operating Margin | -4.9% |
| Debt-to-Asset Ratio | 2.1% |
| Months of Reserves | 12.1 months |
Financial Health Grade: B
In 2023, Fortunate Families Inc reported a deficit of $4K with expenses exceeding revenue, holds 12.1 months of operating reserves (strong position), has a debt-to-asset ratio of 2.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Fortunate Families Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +74.3% | -3.2% | -3.9% |
| 2022 | -56.9% | +14.5% | -33.6% |
| 2021 | +140.9% | +57.7% | +36.4% |
| 2020 | -44.8% | -28.2% | -4.8% |
| 2019 | +45.8% | +21.4% | +16.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Fortunate Families Inc with a Mission Score of 85 out of 100 (Excellent). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Fortunate Families Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $4K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either unpaid volunteers or receive compensation below the reporting threshold, which is a strong positive for a small organization of this 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 Fortunate Families Inc's IRS 990 filings:
- Inconsistent revenue streams leading to significant year-over-year fluctuations.
- Expenses exceeded revenue in multiple recent periods (e.g., 202312, 202212), indicating reliance on reserves or prior surpluses.
Strengths
The following positive indicators were identified for Fortunate Families Inc:
- Consistent IRS 990 filing history, demonstrating strong transparency and compliance.
- Zero reported officer compensation across all filings, indicating efficient use of funds at the executive level.
- Maintains positive assets and low liabilities, suggesting a healthy balance sheet.
- Long operational history with 13 filings, indicating sustained commitment to its mission.
Frequently Asked Questions about Fortunate Families Inc
Is Fortunate Families Inc a legitimate charity?
Fortunate Families Inc (EIN: 202314620) is a registered tax-exempt nonprofit based in Kentucky. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $64K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Fortunate Families Inc spend its money?
Fortunate Families Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Fortunate Families Inc tax-deductible?
Fortunate Families Inc is registered as a tax-exempt nonprofit (EIN: 202314620). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Fortunate Families Inc's spending goes to programs?
Fortunate Families Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Fortunate Families Inc located?
Fortunate Families Inc is headquartered in Lexington, Kentucky and files with the IRS under EIN 202314620.
How many years of IRS 990 filings does Fortunate Families Inc have?
Fortunate Families 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 $64K in total revenue.
Is Fortunate Families Inc. financially stable?
Yes, Fortunate Families Inc. appears financially stable, consistently maintaining positive assets (e.g., $87,850 in 202312) and low liabilities, despite some years where expenses exceeded revenue.
How does Fortunate Families Inc. manage executive compensation?
The organization reports 0% officer compensation in all available filings, suggesting a volunteer-led executive team or very minimal, unreported compensation, which is a positive indicator of resource allocation.
What is the trend in Fortunate Families Inc.'s revenue?
Revenue for Fortunate Families Inc. has fluctuated significantly, ranging from a low of $43,495 in 201712 to a high of $110,556 in 202112, indicating variability in funding or donations.
Filing History
IRS 990 filing history for Fortunate Families Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fortunate Families Inc's revenue has grown by 45%, moving from $57K to $83K. Total assets increased by 73.5% over the same period, from $51K to $88K. Total functional expenses rose by 59.3%, from $55K to $87K. In its most recent filing year (2023), Fortunate Families Inc reported a deficit of $4K, with expenses exceeding revenue. The organization holds $2K in liabilities against $88K in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $86K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $83K | $87K | $88K | $2K | — | — |
| 2022 | $48K | $90K | $91K | $1K | — | View 990 |
| 2021 | $111K | $79K | $138K | $5K | — | — |
| 2020 | $46K | $50K | $101K | $436 | — | View 990 |
| 2019 | $83K | $69K | $106K | $2K | — | View 990 |
| 2018 | $57K | $57K | $91K | $258 | — | View 990 |
| 2017 | $43K | $52K | $91K | $0 | — | View 990 |
| 2016 | $63K | $57K | $105K | $5K | — | View 990 |
| 2015 | $73K | $72K | $96K | $2K | — | View 990 |
| 2014 | $47K | $72K | $95K | $3K | — | View 990 |
| 2013 | $105K | $75K | $119K | $1K | — | View 990 |
| 2012 | $87K | $50K | $88K | $531 | — | View 990 |
| 2011 | $57K | $55K | $51K | $304 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $83K, expenses of $87K, and assets of $88K (revenue +74.3% year-over-year).
- 2022: Revenue of $48K, expenses of $90K, and assets of $91K (revenue -56.9% year-over-year).
- 2021: Revenue of $111K, expenses of $79K, and assets of $138K (revenue +140.9% year-over-year).
- 2020: Revenue of $46K, expenses of $50K, and assets of $101K (revenue -44.8% year-over-year).
- 2019: Revenue of $83K, expenses of $69K, and assets of $106K (revenue +45.8% year-over-year).
- 2018: Revenue of $57K, expenses of $57K, and assets of $91K (revenue +31.1% year-over-year).
- 2017: Revenue of $43K, expenses of $52K, and assets of $91K (revenue -30.4% year-over-year).
- 2016: Revenue of $63K, expenses of $57K, and assets of $105K (revenue -14.9% year-over-year).
- 2015: Revenue of $73K, expenses of $72K, and assets of $96K (revenue +57.1% year-over-year).
- 2014: Revenue of $47K, expenses of $72K, and assets of $95K (revenue -55.7% year-over-year).
- 2013: Revenue of $105K, expenses of $75K, and assets of $119K (revenue +21.3% year-over-year).
- 2012: Revenue of $87K, expenses of $50K, and assets of $88K (revenue +51.9% year-over-year).
- 2011: Revenue of $57K, expenses of $55K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fortunate Families Inc:
Data Sources and Methodology
This transparency report for Fortunate Families 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.