Family Promise of Monmouth County Inc

Nonprofit profile at a glance

EIN
223674477
IRS 990 coverage
2010–2021
Forms available
Form 990 2021, Form 990-EZ 2009
Location
Oceanport, NJ, USA
Phone
7324951050
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Shelters

Reported finances

Revenue
$406,399
Expenses
$352,278
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JESSICA STEPANSKI (PRESIDENT)
  • MIKE MERITON (VICE PRESIDENT)
  • LENORE GIBSON (EXECUTIVE DIRECTOR)
  • ROBIN POPOFF (EXECUTIVE DIRECTOR (FORMER))

Highest reported compensation

  • LENORE GIBSON (EXECUTIVE DIRECTOR): $35,823 total reported compensation
  • ROBIN POPOFF (EXECUTIVE DIRECTOR (FORMER)): $17,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's mission is to help homless and low-income families achieve sustainable housing.

What it reported doing in 2021

Shelter program - family promise monmouth county (fpmc) is a community-wide program that provides emergency shelter, meals and comprehensive assistance for families in monmouth county in a manner that offers hope, preserves dignity and promotes self-sufficiency. Since opening its doors in july 2001, fpmc has served more than 300 families. Fpmc's program is free-of-charge to families of any composition, race, and religion, who are in custody of minor children, and are at risk, or have become homeless.

Operating model

Revenue model
Grant-funded. 78% of the money available for current operations came from government grants.
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.
  • 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.4%; rating input score 71
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: $90.03 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 13.3%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 15.1%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 12.7% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 71.4% of revenue deployed · 82.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $290K in reported program spending
  • Leadership: top reported pay $36K · 8 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2010 to 2021
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 26/100.