Family Resource Associates Inc

What it reported doing in 2024

FRA (Family Resource Associates, Inc.) As we mark our 46th year we remain dedicated to creating new "Possibilities for people with disAbilities". Through specialized therapies, education, family support, employment opportunities, and advanced technology, we help individuals gain greater independence. FRA serves a broad range of individuals with various disabilities, providing opportunities to reach their fullest potential and foster greater inclusion within the community.We are thankful for the strength and involvement of our Board and committee members who have continued to function effectively to ensure the ongoing operations and growth of FRA and all its programs. Their active involvement with fundraising and development is vital to our programs. Our loyal base of supporters maintains a stable financial foundation to match our determination to serve our community, as new funding sources are explored to sustain our relevant and impactful services.The FRA program directors have shown remarkable adaptability and responsiveness, maintaining high-quality programing despite ongoing staff shortages and shifting policies from various state departments. We continue to navigate changes, balancing the contributions of long-term employees while integrating new members into our skilled and highly qualified professional team. Fortunately, the stability of our office professionals, who have an average tenure of 13 years with FRA, provide stability and effectively guide FRA through periods of growth and transition. Their extensive experience and ability to embrace new methods and systems ensure that FRA remains resilient and well-managed.The need for unique services for adults with intellectual/developmental disabilities is apparent as all remain at home and are fully integrated in the school community. Finding a path forward as an adult, however, is far more daunting. FRA seeks to break down obstacles and to create relevant services for today's young adults. Vital to this is our willingness to adapt to the changing needs, interests, and lifestyles of this population by offering effective, engaging, and meaningful services. Therefore, our focus has offered individual therapies, prevocational training and the inclusion of technology in their daily lives. Services are offered at our facilities in Red Bank and Brick, NJ and weekly wellness classes such as yoga, dance, and karate are also available.Creating a new path forward for adult services saw the opening of a new program: Forward Futures - an adult program giving each person a chance to participate in different activities including community outings. Two new vans were purchased, allowing us to move freely around the countyOver 130 exceptional volunteers typically assist in meeting the mission of FRA and our ongoing needs. Their resources provide significant committee work, assist in group services, office support, fundraising events and as operational support. Over 1,500 hours were given this year as a result.

Financial Efficiency

• Mission deployment rate: 94.4%; rating input score 94
• Program expense ratio: 92.3%; rating input score 92
• Fundraising efficiency: $55.07 raised per $1 spent on fundraising; rating input score 80; 80th 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: 8 of 8 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: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -2.2%; rating input score 26; 26th percentile among comparable filings
• Total-asset coverage ratio: 1.13; rating input score 41; 41st percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
• Officer compensation ratio: 2.9%; rating input score 70; 70th percentile among comparable filings

Growth

• Program expense growth: 5.2% per year; rating input score 100; 40th percentile among comparable filings
• Revenue growth: 3% per year; rating input score 100; 27th percentile among comparable filings
• Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings