FAMILY PROMISE INC

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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

1988

Legal Domicile

Principal Officer

CHERYL SCHUCH

Phone

9082731100

Tax Period

2024-01-01 to 2024-12-31

FAMILY PROMISE INC, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $9.3M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.8M, a strong 19% operating margin.

Mission

FAMILY PROMISE'S MISSION IS TO PREVENT AND END HOMELESSNESS FOR FAMILIES WITH CHILDREN AND HELP THEM ACHIEVE SUSTAINABLE INDEPENDENCE USING A COMMUNITY-BASED RESPONSE. FAMILY PROMISE IS THE NATIONAL LEADER OF EMERGENCY SERVICES FOR FAMILIES AT RISK OF AND EXPERIENCING HOMELESSNESS AND OFFERS A COMPREHENSIVE, INDIVIDUALIZED AND TRAUMA-INFORMED APPROACH. OFFERING PREVENTION, SHELTER, STABILIZATION AND HOUSING, EACH PROGRAM ASCRIBES TO NATIONAL BEST PRACTICES YET IS CUSTOMIZED TO THE NEEDS OF THE COMMUNITY. FAMILY PROMISE WORKS TO PREVENT HOMELESSNESS AND IS OFTEN THE ONLY SHELTER SOLUTION IN COMMUNITIES THAT WILL KEEP FAMILIES IN CRISIS TOGETHER. FAMILY PROMISE'S WRAPAROUND SERVICES HELP FAMILIES QUICKLY STABILIZE AND SECURE LONG-TERM, AFFORDABLE, SAFE HOUSING. THE NATIONAL OFFICE PROVIDES TECHNICAL ASSISTANCE AND EXPERTISE TO A NETWORK OF NEARLY 200 AFFILIATES IN OVER 40 STATES, MOBILIZING THOUSANDS OF VOLUNTEERS AND SERVING APPROX. 72,000 FAMILIES INCLUDING 110,000 CHILDREN EACH YEAR.

Program Service Accomplishments

Program 1

Expenses: $5,297,176 Revenue: $949,305

FAMILY PROMISE PROVIDES TECHNICAL ASSISTANCE TO OUR NETWORK OF NEARLY 200 AFFILIATES ACROSS THE COUNTRY WHICH PROVIDE PREVENTION, SHELTER, STABILIZATION, AND HOUSING SUPPORT SERVICES TO CHILDREN AND FAMILIES EXPERIENCING OR AT RISK OF HOMELESSNESS. OUR STAFF ASSISTS AFFILIATES TO ORGANIZE COMMUNITY EFFORTS, ASSISTS WITH TRAINING AND RECRUITING VOLUNTEERS, PROVIDES GUIDANCE ON OPERATIONS INCLUDING PROGRAM EXPERTISE, AND PROVIDES TECHNICAL ASSISTANCE. WE ALSO PROVIDE SIGNIFICANT PROGRAM FUNDING TO AFFILIATES THROUGH GRANTS ALLOWING THEM TO EXPAND THEIR LOCAL PROGRAMS.

Program 2

Expenses: $1,294,064

FAMILY PROMISE UNION COUNTY SERVES THE LOCAL UNION COUNTY, NJ, COMMUNITY THROUGH SHELTER, PREVENTION, DIVERSION, AND STABILIZATION SERVICES. FAMILY PROMISE UNION COUNTY PROVIDES SHELTER TO FAMILIES IN TEMPORARY EMERGENCY SHELTER APARTMENTS AND ENGAGES CONGREGATIONS AND VOLUNTEERS THROUGH COLLECTION AND DISTRIBUTION OF MEALS, ALONG WITH GIFT CARDS FOR FAMILIES TO PURCHASE MEALS. A DAY CENTER IN ELIZABETH, NJ, SERVES AS THE PROGRAM'S CENTRAL LOCATION WHERE FAMILIES MAY SPEND TIME AND WHERE STAFF PROVIDES CASE MANAGEMENT. THE PREVENTION, DIVERSION, AND STABILIZATION PROGRAMS AND SERVICES ADDRESS HOUSING, EMPLOYMENT, FINANCIAL CAPABILITIES, TRANSPORTATION, AND HEALTH AND WELLNESS, ALONG WITH OTHER THINGS.

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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 $8,278,235

Program Service Revenue $949,305

Investment Income $119,689

Other Revenue $-19,593

TOTAL REVENUE $9,327,636

Expense Breakdown

Grants Paid $3,074,605

Salaries & Benefits $3,133,008

Fundraising Expenses $356,617

Program Expenses $6,591,240

Other Expenses $1,331,821

TOTAL EXPENSES $7,539,434

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,327,636	$6,611,379	+0.4%
Expenses	$7,539,434	$5,784,208	+0.3%
Net Income	$1,788,202	$827,171	+1.2%

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

500

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

$906,417

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSHUA BARER	TRUSTEE	1.00	Director	$0	$0	$0
BETSY BERNARD	BOARD CHAIR (THROUGH 12/2024)	1.00	Officer Director	$0	$0	$0
SARAH BIRD	TRUSTEE	1.00	Director	$0	$0	$0
ALEX ENGLISH	TRUSTEE	1.00	Director	$0	$0	$0
DAVID FLECK	TRUSTEE (AS OF 12/2024)	1.00	Director	$0	$0	$0
TIM GAMORY	TRUSTEE	1.00	Director	$0	$0	$0
LEAH GRIFFITH	TRUSTEE (AS OF 12/2024)	1.00	Director	$0	$0	$0
STEPHEN WALLACE	TRUSTEE	1.00	Director	$0	$0	$0
LINDA HENRY	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT J HUGIN	TRUSTEE	1.00	Director	$0	$0	$0
ANDREW PIERCE	TRUSTEE (THROUGH MID-2024)	1.00	Director	$0	$0	$0
STACEY SLATER	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN FERRIE	TRUSTEE	1.00	Director	$0	$0	$0
LORI WINKLER	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER KING	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MOODY	BOARD CHAIR (AS OF 12/2024)	1.00	Officer Director	$0	$0	$0
MARY MULIETT	TRUSTEE	1.00	Director	$0	$0	$0
VERNON WILLIAMS	TRUSTEE	1.00	Director	$0	$0	$0
JAMES BLOCK	TRUSTEE (AS OF 12/2024)	1.00	Director	$0	$0	$0
CHERYL SCHUCH	CHIEF EXECUTIVE OFFICER	40.00	Officer	$247,716	$15,241	$262,957
SANDRA MINIUTTI	CHIEF NETWORK OFFICER	40.00	Officer	$152,288	$10,024	$162,312
SHARI COMPETIELLO	CHIEF OPERATING OFFICER	40.00	Officer	$135,769	$8,945	$144,714
MICHAEL KERKORIAN	CHIEF DEVELOPMENT OFFICER	40.00	Officer	$150,902	$21,816	$172,718
BRITT DARROW	CHIEF FINANCIAL OFFICER	40.00	Officer	$144,835	$18,881	$163,716
MELISSA BIGGAR	SENIOR DIRECTOR OF COMMUNICATIONS & ANNUAL FUND	40.00	Highest	$103,847	$21,757	$125,604
CAROLYN GORDON	SENIOR DIRECTOR OF PROGRAM DEVELOPMENT	40.00	Highest	$104,273	$11,508	$115,781
AMBER YOUNG	DIRECTOR OF CORPORATE RELATIONS	40.00	Highest	$101,156	$12,233	$113,389

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
2025	No data	No data	No data	No data
2024	$9,327,636	$7,539,434	$12,237,920	$1,788,202
2023	$6,611,379	$5,784,208	$7,560,643	$827,171
2022	$6,304,830	$7,572,919	$6,255,116	$-1,268,089
2021	$6,508,376	$6,462,739	$7,678,924	$45,637
2020	$7,972,729	$5,032,402	$7,291,427	$2,940,327
2019	$4,149,993	$3,527,967	$4,175,216	$622,026
2018	$3,389,573	$2,404,927	$3,355,589	$984,646