Family Alternatives Inc
- Assets
- $1.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Minneapolis, MN
- Founding
- 07/1979
- Data as of
- 06/2022
- EIN
- 41-1356085
Organization Overview
Family Alternatives Inc is located in Minneapolis, MN. The organization was established in 1979. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 06/2022, Family Alternatives Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Alternatives Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Family Alternatives Inc generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FAMILY ALTERNATIVES SUPPORTS RELATIONSHIPS AND ENHANCES ENVIRONMENTS THAT EMBRACE CHILDREN AND FAMILIES IN TRANSITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY ALTERNATIVES IS A FOSTER CARE LICENSING AGENCY. INTENSIVE PROGRAM - 81 YOUTH SERVED; 15,342 DAYSSTANDARD PROGRAM - 144 YOUTH SERVED; 16,567 DAYSSHELTER PROGRAM - 16 YOUTH SERVED; 541 DAYS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anise Grajeda President | OfficerTrustee | 1 | $0 |
Carole Coffey Hannah Director | Trustee | 1 | $0 |
Charles Turner Director | Trustee | 1 | $0 |
Bernetta Green Director | Trustee | 1 | $0 |
Mary Regan Director | Trustee | 1 | $0 |
Nancy White Secretary/treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,898 |
| Investment income | $3,724 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,112,949 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $113,114 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $747,764 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $168,540 |
| Payroll taxes | $61,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,364 |
| Advertising and promotion | $937 |
| Office expenses | $5,572 |
| Information technology | $18,232 |
| Royalties | $0 |
| Occupancy | $122,529 |
| Travel | $17,613 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,827 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,854 |
| Insurance | $41,276 |
| All other expenses | $0 |
| Total functional expenses | $3,079,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,490 |
| Savings and temporary cash investments | $787,917 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $416,773 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,858 |
| Total assets | $1,435,944 |
| Accounts payable and accrued expenses | $244,749 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $244,749 |
| Net assets without donor restrictions | $1,191,195 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,191,195 |