FAMILY PROMISE OF GRAND RAPIDS (EIN 383357709) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Principal Officer

TENISA FRYE

Phone

6164755220

Tax Period

2024-01-01 to 2024-12-31

FAMILY PROMISE OF GRAND RAPIDS, founded in 1997, is a community nonprofit in the Housing & Shelter sector that reported $4.5M in total revenue in fiscal year 2024. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $6.3M exceeded revenue, resulting in a 39% operating deficit.

Mission

THE ORGANIZATION PROVIDES SHELTER, BASIC NEEDS, STABILIZATION SERVICES, AND HOUSING SOLUTIONS TO FAMILIES EXPERIENCING HOMELESSNESS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,540,721

Program Service Revenue $74,670

Investment Income $12,905

Other Revenue $-91,238

TOTAL REVENUE $4,537,058

Expense Breakdown

Grants Paid $919,309

Salaries & Benefits $3,847,731

Fundraising Expenses $447,550

Program Expenses $4,656,791

Other Expenses $1,523,673

TOTAL EXPENSES $6,290,713

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,537,058	$8,227,206	-0.4%
Expenses	$6,290,713	$6,127,018	+0.0%
Net Income	$-1,753,655	$2,100,188	-1.8%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

4000

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$158,061

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRENT GOODING	PRESIDENT	5.00	Officer Director	$0	$0	$0
NATHAN TRATHEN	TREASURER	5.00	Officer Director	$0	$0	$0
CHRISTIAN HUYGE	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
AUDRA BLODGETT	SECRETARY	5.00	Officer Director	$0	$0	$0
KIM DELONG	DIRECTOR	2.00	Director	$0	$0	$0
CIARRA C ADKINS	DIRECTOR	2.00	Director	$0	$0	$0
LISA KNIGHT	DIRECTOR	2.00	Director	$0	$0	$0
HEATHER MERRICK	DIRECTOR	2.00	Director	$0	$0	$0
BRAD SPARKS	DIRECTOR	2.00	Director	$0	$0	$0
SHARIEM SATERFIELD	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL LYNN	DIRECTOR	2.00	Director	$0	$0	$0
SARA KNOESTER	DIRECTOR	2.00	Director	$0	$0	$0
GLENDA WILLIAMS	DIRECTOR	2.00	Director	$0	$0	$0
CRYSTEL IMPERI	DIRECTOR	2.00	Director	$0	$0	$0
TENISA FRYE	CEO	40.00	Officer	$152,480	$5,581	$158,061

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$4,537,058	$6,290,713	$11,004,375	$-1,753,655
2023	$8,227,206	$6,127,018	$12,040,722	$2,100,188
2022	$8,020,589	$5,903,559	$5,594,471	$2,117,030
2021	$5,399,500	$5,313,373	$3,472,871	$86,127
2020	$5,540,917	$4,207,422	$3,731,982	$1,333,495
2019	$2,637,955	$2,703,530	$2,017,656	$-65,575
2018	$2,004,624	$2,084,942	$2,069,872	$-80,318

FAMILY PROMISE OF GRAND RAPIDS