FAMILY PROMISE OF SOUTH SARASOTA C… - Form 990 Financial Data

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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

2014

Legal Domicile

Principal Officer

JAKE TATE

Phone

9414979881

Tax Period

2024-01-01 to 2024-12-31

FAMILY PROMISE OF SOUTH SARASOTA COUNTY INC, founded in 2014, is a community nonprofit in the Human Services sector that reported $2.5M in total revenue in fiscal year 2024. Revenue surged 125% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 57% operating margin.

Mission

TO PROVIDE HOUSING SUPPORT TO CHILDREN AND THEIR FAMILIES IN SOUTH SARASOTA COUNTY.

Program Service Accomplishments

Program 1

Expenses: $242,315 Revenue: $53,423

BRIDGE HOUSING - COMBINES A VOLUNTERR NETWORK OF LOCAL HOST CONGREGATIONS FOR MEALS AND OVERNIGHT SHELTER ALONG WITH USE OF THE DAY CENTER FOR A PERMANENT ADDRESS, TRAINING AND CASE MANAGEMENT...

BRIDGE HOUSING - COMBINES A VOLUNTERR NETWORK OF LOCAL HOST CONGREGATIONS FOR MEALS AND OVERNIGHT SHELTER ALONG WITH USE OF THE DAY CENTER FOR A PERMANENT ADDRESS, TRAINING AND CASE MANAGEMENT SERVICES. KEEPING THE PROMISE IS A POST-SHELTERPROGRAM OFFERING CONTINUING CASE MANGAGEMENT AND SUPPORT WITH THE PROGRAM GOAL OF PLACING THEM IN PERMANENT HOUSEING. HELP WITH FINDING EMPLOYMENT IS ALSO PART OF THIS PROCESS.

Program 2

Expenses: $271,648 Revenue: $77,556

OPEN DOORS - PROVIDES INITAL CONTACT WITH HOMELESS (AND/OR AT-RISK OF HOMELESSNESS FAMILIES) WITH CHILDREN; ACTIVITIES INCLUDE HOMELESS PREVENTION, DIVERSION, ACUITY OF NEED SCREENING, COORDINATED...

OPEN DOORS - PROVIDES INITAL CONTACT WITH HOMELESS (AND/OR AT-RISK OF HOMELESSNESS FAMILIES) WITH CHILDREN; ACTIVITIES INCLUDE HOMELESS PREVENTION, DIVERSION, ACUITY OF NEED SCREENING, COORDINATED ENTRY, MOVE-IN FUNDING AND REFERRALS OR OTHER NEEDED SERVICES. CASE MANAGEMENT IS ALSO PROVIDED TO ASSIST FAMILIES WITH HOUSING/SHELTER.

Program 3

Expenses: $266,996 Revenue: $73,327

PATHWAYS HOME - PROVIDES AN AFFOREDABLE PLACE TO LIVE WHILE CLIENTS WORK TOWARD IMPROVED FINANCIAL SKILLS AND INCOME. FPSSC OWNS PROPERTY FOR WHICH THE CLIENT FAMILY PAYS A SMALL PROGRAM FEE TO LIVE IN WHILE WORKING WITH CASE MANAGERS TO OVERCOME ROADBLOCKS TO GREATER INCOME AND PROSPERITY. OUR GOAL IS NOT SIMPLY GETTING FAMILIES INTO HOUSING; ITS KEEPING THEM IN HOUSING.

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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 $2,138,300

Program Service Revenue $277,425

Investment Income $11,440

Other Revenue $23,879

TOTAL REVENUE $2,451,044

Expense Breakdown

Grants Paid $122,278

Salaries & Benefits $400,643

Fundraising Expenses $69,459

Program Expenses $918,896

Other Expenses $526,230

TOTAL EXPENSES $1,056,755

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,451,044	$1,087,161	+1.3%
Expenses	$1,056,755	$925,197	+0.1%
Net Income	$1,394,289	$161,964	+7.6%

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

1200

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

Total Directors

Key Employees

$105,818

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER FAGENBAUM	EXECUTIVE DIRECTOR	40.00	Key Emp	$105,818	$0	$105,818
RACHEL FRANK	PRESIDENT	1.50	Officer Director	$0	$0	$0
JAKE TATE	VICE PRESIDENT	1.50	Officer Director	$0	$0	$0
MARGARET PITTALA	TREASURER	2.00	Officer Director	$0	$0	$0
KELLY OLIVER	SECRETARY	1.00	Officer Director	$0	$0	$0
JESS FRONCKOWIAK	TRUSTEE	1.00	Director	$0	$0	$0
COURTNEY GREEN	TRUSTEE	1.50	Director	$0	$0	$0
MATHEW BRITTON	TRUSTEE	1.00	Director	$0	$0	$0
COLLEEN ROCA	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL BACON	TRUSTEE	1.00	Director	$0	$0	$0
CATHY CARCATERRA	TRUSTEE	1.00	Director	$0	$0	$0
JEREMY MYERS	TRUSTEE	2.00	Director	$0	$0	$0
JOHN O'DONNELL	TRUSTEE	1.00	Director	$0	$0	$0
DANE DESANTIS	TRUSTEE	1.00	Director	$0	$0	$0
PHILLIP ADAMS	TRUSTEE	1.00	Director	$0	$0	$0

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	$2,451,044	$1,056,755	$5,346,001	$1,394,289
2023	$1,087,161	$925,197	$4,018,783	$161,964
2022	$1,955,596	$848,549	$3,966,835	$1,107,047
2021	$1,767,716	$636,313	$1,901,616	$1,131,403
2020	$752,884	$507,267	$807,753	$245,617
2019	$360,744	$404,336	$511,645	$-43,592
2018	$352,917	$298,565	$554,213	$54,352

FAMILY PROMISE OF SOUTH SARASOTA COUNTY INC