Generations Family Services Inc

Nonprofit profile at a glance

EIN
475645509
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2017, Form 990-N 2017
Location
Raleigh, NC, USA
Phone
8004371695
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Financial Counseling

Official website

Reported finances

Revenue
$892,951
Expenses
$921,951
Assets
$389,479
Liabilities
$532,806

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

Leadership & pay

4 people listed

Executive titles in this filing

  • LORI BRYANT (PRESIDENT)

Highest reported compensation

  • ANDRIZE PATRICK (EXECUTIVE DI): $115,800 total reported compensation

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

Overview

Mission

To improve and sustain the quality and wellbeing of individuals' lives within their established communities by providing fiduciary, professional and sound financial management planning, collaborative social services, and serving as a guardian or in other similar fiduciary capacities.

What it reported doing in 2024

By "bridging the gap" between clients and services, gfs has played a significant role in working diligently and tirelessly to secure suitable housing for clients experiencing homelessness and minimizing their likelihood to return back to homelessness by ensuring timely payments of rent, utilities, water and etc. Gfs collaborates and works closely with various vendors and providers (landlords, managed care, va, ssa, social services, mental health, substance abuse, developmental disability) within the community to ensure that the client is appropriately linked to and receiving much needed services. Through our ssa program, we served 160 clients this year. Through our va program, we have served 255 clients this year. Through our guardianship program, we have served 235 clients this year.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.6%; rating input score 81
  • Program expense ratio: 78%; rating input score 78
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.2%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 1.37; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 24.3% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 22.9% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 17.7% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 80.6% of revenue deployed · 78% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $720K in reported program spending
  • Leadership: top reported pay $116K · 4 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2019 to 2024
  • 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: Operating margin scored 27/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.