Family Promise of the Midlands Inc

Nonprofit profile at a glance

EIN
264259689
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Columbia, SC, USA
Phone
8038324765
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Homeless Centers

Official website

Reported finances

Revenue
$613,955
Expenses
$541,376
Assets
$913,530
Liabilities
$2,503

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

Leadership & pay

16 people listed

Executive titles in this filing

  • JEFF ARMSTRONG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JEFF ARMSTRONG (EXECUTIVE DIRECTOR): $97,344 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 promise helps homeless and low-income families achieve sustainable independence through engaging the faith-based community to provide shelter and hospitality to families in the midlands.

What it reported doing in 2024

Day center operations, guest housing costs and insurance.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 59
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.6%; rating input score 38
  • Program expense ratio: 41%; rating input score 41
  • Fundraising efficiency: $4.86 raised per $1 spent on fundraising; rating input score 17; 17th 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: 93.8%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11.8%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 1.69; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 18%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: 11.4% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 14.5% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 37.6% of revenue deployed · 41% of spending went to programs
  • Governance: 15 of 16 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $222K in reported program spending
  • Leadership: top reported pay $97K · 16 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 8 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 38/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 41/100.
  • High — Financial Efficiency: Fundraising efficiency scored 17/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.