Family Initiative Inc

Nonprofit profile at a glance

EIN
341606058
IRS 990-EZ coverage
2018–2024
Forms available
Form 990-EZ 2024, Form 990-N 2008
Location
Norwalk, OH, USA
Phone
4196688840
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$35,500
Expenses
$44,423
Assets
$81,439
Liabilities
$257,113

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

Leadership & pay

3 people listed

Executive titles in this filing

  • KARI SMITH (PRESIDENT)
  • ERIC NEUBERGER (VICE PRESIDENT)

People named in this filing

  • KARI SMITH (PRESIDENT)
  • ERIC NEUBERGER (VICE PRESIDENT)
  • ALLYN SCHNELLINGER (SECRETARY/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Family initiative, inc. Is a 5-unit apartment project which was organized to provide living facilities for residents with physical and mental disabilities.

What it reported doing in 2024

Project us a 5-unit apartment for persons with disabilities operating under section 801 of the national housing act

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 82
  • Sustainability: 35
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.2%; rating input score 92

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -25.1%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 3.16; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 7.2% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: -7.2% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.2% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $41K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.