Family Centers Inc

Nonprofit profile at a glance

EIN
060646656
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Greenwich, CT, USA
Phone
2034134459
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$34,561,236
Expenses
$27,423,661
Assets
$32,805,057
Liabilities
$3,537,850

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

36 people listed

Executive titles in this filing

  • ROBERT M ARNOLD (PRESIDENT & CEO - UNTIL 4/25)
  • LOUIS JOSEPHSON (CEO - AS OF 4/2025)

Highest reported compensation

  • ROBERT M ARNOLD (PRESIDENT & CEO - UNTIL 4/25): $450,894 total reported compensation
  • MARGARITA MUNOZ (MENTAL HEALTH MEDICAL DIRECTOR): $289,750 total reported compensation
  • DENNIS TORRES (CHIEF HEALTH OFFICER): $244,100 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Family centers inc. Is a non-stock, nonprofit corporation whose mission is to empower children, adults, families and communities to realize their potential. For more information, see schedule o.

What it reported doing in 2024

Education & human services - family centers utilizes a holistic approach that focuses on the whole family to ensure children receive a solid educational foundation and parents can achieve their goals. Services include early education program, two-generational support, vocational training, literacy and english language education, housing resources and more. For more information, see schedule o.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 84.7%; rating input score 85
  • Fundraising efficiency: $24.74 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 20.7%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.2; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 84.7% of spending went to programs
  • Governance: 27 of 27 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $23.2M in reported program spending
  • Leadership: top reported pay $451K · 36 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.2M reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.