Family Promise - Salt Lake

Nonprofit profile at a glance

EIN
870547916
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Salt Lake City, UT, USA
Phone
8019618622
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Homeless Shelters

Official website

Reported finances

Revenue
$426,099
Expenses
$418,934
Assets
$1,199,827
Liabilities
$178,379

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Rocky Cox (President)
  • Tonya Woolsey (Vice President)
  • Brian Diggs (Executive Director)
  • Hadley Gasser (Executive Director)

Highest reported compensation

  • Brian Diggs (Executive Director): $44,762 total reported compensation
  • Hadley Gasser (Executive Director): $41,261 total reported compensation

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

Overview

Mission

We help families experiencing homelessness find lasting independence and security.

What it reported doing in 2024

Providing human services for families experiencing homelessness; including housing, shelter, and case management

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, 23% for grants, and 1% for affiliated organizations.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 45
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.8%; rating input score 82
  • Program expense ratio: 82.5%; rating input score 83
  • Fundraising efficiency: $43.09 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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; 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: 1.7%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 2.86; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.15; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 20.5%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: -4.7% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 81.8% of revenue deployed · 82.5% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $346K in reported program spending
  • Leadership: top reported pay $45K · 10 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.