FAMILY PROMISE OF WAKE COUNTY 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

1993

Legal Domicile

Principal Officer

SCOTT FERRIS

Phone

9198326024

Tax Period

2023-01-01 to 2023-12-31

FAMILY PROMISE OF WAKE COUNTY INC, founded in 1993, is a community nonprofit in the Housing & Shelter sector that reported $1.9M in total revenue in fiscal year 2023. Revenue surged 63% from the prior year, signaling strong growth momentum. The organization ran a surplus of $942K, a strong 50% operating margin.

Mission

MOVING FAMILIES AT RISK OF OR EXPERIENCING HOMELESSNESS INTO SUSTAINABLE, PERMANENT HOUSING IN OUR COMMUNITY THROUGH A CONTINUUM OF SUPPORT SERVICES.

Program Service Accomplishments

Program 1

Expenses: $541,397

ANNUALLY, OUR EMERGENCY SHELTER PROGRAM PROVIDES TEMPORARY SHELTER TO ABOUT 50 FAMILIES EXPERIENCING HOMELESSNESS. WITH LOCAL CONGREGATIONS PROVIDING EVENING SHELTER AND DAILY MEALS ON A WEEKLY...

ANNUALLY, OUR EMERGENCY SHELTER PROGRAM PROVIDES TEMPORARY SHELTER TO ABOUT 50 FAMILIES EXPERIENCING HOMELESSNESS. WITH LOCAL CONGREGATIONS PROVIDING EVENING SHELTER 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.

Program 2

Expenses: $126,680 Revenue: $11,805

THROUGH OUR HOMELESS PREVENTION PROGRAM, A HAND UP, WE HELPED 79 FAMILIES AVOID AN EVICTION AND SAFELY REMAIN IN THEIR HOMES. WE PARTNER WITH THE SCHOOL SOCIAL WORKERS TO PROVIDE COORDINATED...

THROUGH OUR HOMELESS PREVENTION PROGRAM, A HAND UP, WE HELPED 79 FAMILIES AVOID AN EVICTION AND SAFELY REMAIN IN THEIR HOMES. WE PARTNER WITH THE SCHOOL SOCIAL WORKERS TO PROVIDE COORDINATED ASSISTANCE AND CASE MANAGEMENT TO THESE FAMILIES SO THAT THEY AND ESPECIALLY THEIR CHILDREN DO NOT HAVE TO EXPERIENCE THE TRAUMA FROM AN EVICTION EVENT.

Program 3

Expenses: $52,533

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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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 (2023)

Revenue Breakdown

Contributions & Grants $1,848,283

Program Service Revenue $11,805

Investment Income $27,191

Other Revenue $0

TOTAL REVENUE $1,887,279

Expense Breakdown

Grants Paid $356,139

Salaries & Benefits $404,288

Fundraising Expenses $84,949

Program Expenses $720,610

Other Expenses $185,056

TOTAL EXPENSES $945,483

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,887,279	$1,158,778	+0.6%
Expenses	$945,483	$981,941	0.0%
Net Income	$941,796	$176,837	+4.3%

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

2500

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

$98,139

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LORI CHRISTIAN	VICE CHAIR	2.00	Officer Director	$0	$0	$0
PASTOR ANTHONY BAILEY	DIRECTOR	2.00	Director	$0	$0	$0
JAY WELLS	CHAIR	2.00	Officer Director	$0	$0	$0
CRYSTAL BODIE-SMITH	DIRECTOR	2.00	Director	$0	$0	$0
NICK VERNA	DIRECTOR	2.00	Director	$0	$0	$0
EDWIN BRASWELL	DIRECTOR	2.00	Director	$0	$0	$0
GLORIA MITTMAN	SECRETARY	2.00	Officer Director	$0	$0	$0
CAMDEN BETZ	DIRECTOR	2.00	Director	$0	$0	$0
LAZARO BLACKMON	DIRECTOR	3.00	Director	$0	$0	$0
JANE GRAY	DIRECTOR	5.00	Director	$0	$0	$0
CHARLES GEORGE	TREASURER	2.00	Officer Director	$0	$0	$0
SAMUEL TAYLOR	DIRECTOR	2.00	Director	$0	$0	$0
ELLIE SANTOS	DIRECTOR	2.00	Director	$0	$0	$0
DEBBIE ALLEN	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT FERRIS	EXECUTIVE DIRECTOR	50.00	Officer	$95,015	$3,124	$98,139

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	No data	No data	No data	No data
2023	$1,887,279	$945,483	$3,537,791	$941,796
2022	$1,158,778	$981,941	$2,631,665	$176,837
2021	$1,051,904	$890,686	$2,486,366	$161,218
2020	$1,009,220	$708,257	$2,325,081	$300,963
2019	$655,015	$620,731	$1,548,586	$34,284
2018	$440,928	$459,340	$1,518,015	$-18,412