Family Promise Of Wake County Inc
- Assets
- $2.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 15
- Location
- Raleigh, NC
- Founding
- 01/1994
- Data as of
- 12/2021
- EIN
- 56-1843022
Organization Overview
Family Promise Of Wake County Inc is located in Raleigh, NC. The organization was established in 1994. As of 12/2021, Family Promise Of Wake County Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Promise Of Wake County 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 12/2021, Family Promise Of Wake County Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $890.7k during the year ending 12/2021. While expenses have increased by 11.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FAMILY PROMISE OF WAKE COUNTY PROVIDES HOUSING FOR FAMILIES EXPERIENCING HOMELESSNESS, INCLUDING SHELTER, TRANSITIONAL HOUSING, AND PERMANENT HOUSING OPPORTUNITIES. IN ADDITION, FAMILY PROMISE OF WAKE COUNTY OFFERS SUPPORTIVE SERVICES, INCLUDING CASE MANAGEMENT, LIFE SKILLS CLASSES, AND AFTERCARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUALLY, OUR EMERGENCY SHELTER PROGRAM PROVIDES TEMPORARY SHELTER TO ABOUT 50 FAMILIES EXPERIENCING HOMELESSNESS. WITH LOCAL CONGREGATIONS PROVIDING EVENING SHETLER AND DAILY MEALS ON A WEEKLY BASIS, FAMILY PROMISE OF WAKE COUNTY PROVIDES SUPPORTIVE SERVICES AND CASE MANAGEMENT AT THE DAY CENTER. THE DAY CENTER IS ALSO A SAFE PLACE FOR FAMILIES TO BE DURING THE DAY WHILE THEY WORK THROUGH INDIVIDUAL BARRIERS TO PERMANENT HOUSING WITH STAFF ASSISTANCE.
ANNUALLY, OUR TRANSITIONAL HOUSING PROGRAM PROVIDES TEMPORARY HOUSING TO ABOUT 30 FAMILIES. WITH INCREASED INDEPENDENCE FROM THE SHELTER PROGRAM, FAMILIES WORK WITH STAFF TO ADDRESS BARRIERS TO OBTAINING PERMENANT HOUSING, SUCH AS POOR CREDIT ISSUES AND PAST EVICTIONS. THESE FAMILIES ARE ALSO PROVIDED SUPPORTIVE SERVICES, SUCH AS CASE MANAGEMENT AND LIFE SKILLS EDUCATION CLASSES.
ANNUALLY, OUR PERMANENT HOUSING PROGRAMS - RAPID REHOUSING & NEW LEASE ON LIFE - PLACES ABOUT 40 FAMILIES IN PERMANENT HOUSING. THIS HOUSING IS USUALLY WITHIN WAKE COUNTY AND PROVIDED AT AFFORDABLE RATES. IF NECESSARY, FAMILY PROMISE CAN PROVIDE MINIMAL FINANCIAL ASSISTANCE TO ENSURE THAT THE FAMILIES ARE ABLE TO MAINTAIN THEIR PERMANENT HOUSING PLACEMENTS. AS WITH OUR OTHER PROGRAMS, CASE MANAGEMENT SERVICES ARE ALSO PROVIDED TO ASSIST FAMILIES AS NEEDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Ferris Executive Director | Officer | 50 | $69,096 |
Lauren Alpin Director | OfficerTrustee | 2 | $0 |
Nick Bornhoft Treasurer | OfficerTrustee | 3 | $0 |
Charles George Chair | OfficerTrustee | 2 | $0 |
Jane Gray Vice Chair | OfficerTrustee | 2 | $0 |
Robin Brooks Secretary | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $475,295 |
| All other contributions, gifts, grants, and similar amounts not included above | $566,398 |
| Noncash contributions included in lines 1a–1f | $104,760 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,041,693 |
| Total Program Service Revenue | $12,672 |
| Investment income | $54 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,515 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,051,904 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $215,279 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,561 |
| Compensation of current officers, directors, key employees. | $30,791 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $262,730 |
| Pension plan accruals and contributions | $7,113 |
| Other employee benefits | $15,820 |
| Payroll taxes | $27,702 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $29,021 |
| Information technology | $7,713 |
| Royalties | $0 |
| Occupancy | $117,024 |
| Travel | $12,103 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,318 |
| Interest | $23 |
| Payments to affiliates | $6,000 |
| Depreciation, depletion, and amortization | $35,037 |
| Insurance | $14,196 |
| All other expenses | $25,396 |
| Total functional expenses | $890,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $586,570 |
| Savings and temporary cash investments | $24,776 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $122,936 |
| 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 |
| Net Land, buildings, and equipment | $430,425 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,321,659 |
| Total assets | $2,486,366 |
| Accounts payable and accrued expenses | $47,680 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $25,383 |
| 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 | $1,323,986 |
| Total liabilities | $1,397,049 |
| Net assets without donor restrictions | $1,089,317 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,486,366 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Family Promise Of Wake County Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Elizabeth Mcgeachin Mckee Foundation Raleigh, NC PURPOSE: CHARITABLE | $10,000 |
Cozart Foundation Inc Raleigh, NC PURPOSE: CHARITABLE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enterprise Community Investment Inc Columbia, MD | $513,664,307 | $100,404,144 |
Housing Collaborative Charlotte, NC | $3,657,105 | $83,275,604 |
Dreamkey Partners Inc Charlotte, NC | $109,024,724 | $87,997,566 |
Baltimore Regional Housing Partnership Inc Baltimore, MD | $17,869,604 | $87,260,949 |
Presbyterian College Clinton, SC | $178,788,042 | $82,344,801 |
Florida Pace Centers Inc Miami, FL | $59,896,234 | $73,566,290 |
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
National Association Of Home Builders Of The United States Washington, DC | $117,181,599 | $47,272,832 |
Christian Relief Services Charities Inc Alexandria, VA | $142,752,068 | $55,470,301 |
Horizon Development Properties Inc Charlotte, NC | $420,836,852 | $43,904,469 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
King Farm Presbyterian Retirement Rockville, MD | $301,432,870 | $34,783,503 |