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← FAMILY MANAGEMENT FINANCIAL SOLUTIONS INC

Form 990 for tax year 2023

Filed by FAMILY MANAGEMENT FINANCIAL SOLUTIONS INC.

Totals

Total revenue
$524,021
Total expenses
$498,890
Contributions and grants received
$338,666
Grants paid
$186,850
Program service revenue
$178,603
Investment income
$1,661
Other revenue
$5,091
Total assets, end of year
$1,396,828
Total liabilities, end of year
$1,115,013
Net assets or fund balances, end of year
$281,815
Program services expenses (Part IX)
$472,532
Management and general expenses
$26,358
Fundraising expenses
$0
Program service expenses (Part III)
$472,532

Program services were 94.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $338,650

  • 1f · All other contributions, gifts and grants

    $16

  • 2a · Program service revenue: CREDIT COUNSELING

    total $165,066 · related or exempt $165,066

  • 2b · Program service revenue: HOUSING COUNSELING

    total $13,537 · related or exempt $13,537

  • 3 · Investment income

    total $1,661 · excluded $1,661

  • 6a · Gross rents

    real property $6,500

  • 6b · Less rental expenses

    real property $5,265

  • 6c · Rental income or loss

    real property $1,235

  • 6d · Net rental income or loss

    total $1,235 · excluded $1,235

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $3,856 · excluded $3,856

  • 11e · Other revenue, total

    $3,856

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $186,850 · program services $186,850

  • 5 · Compensation of officers, directors and key employees

    total $90,024 · program services $72,019 · management and general $18,005

  • 7 · Other salaries and wages

    total $120,121 · program services $120,121

  • 10 · Payroll taxes

    total $16,076 · program services $14,699 · management and general $1,377

  • 11b · Fees: legal

    total $390 · program services $390

  • 11g · Fees: other

    total $9,971 · program services $9,971

  • 12 · Advertising and promotion

    total $2,318 · program services $2,318

  • 13 · Office expenses

    total $15,286 · program services $15,286

  • 16 · Occupancy

    total $28,093 · program services $28,093

  • 17 · Travel

    total $151 · program services $151

  • 22 · Depreciation, depletion and amortization

    total $1,084 · program services $1,084

  • 23 · Insurance

    total $7,134 · program services $7,134

  • 24a · Other expenses: OTHER EXPENSES

    total $6,976 · management and general $6,976

  • 24b · Other expenses: SOFTWARE SERVICE

    total $6,770 · program services $6,770

  • 24c · Other expenses: MAINTENENCE

    total $2,128 · program services $2,128

  • 24d · Other expenses: STORAGE

    total $2,054 · program services $2,054

  • 24e · All other expenses

    total $3,464 · program services $3,464

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,399,136 · end of year $1,349,138

  • 2 · Savings and temporary cash investments

    beginning of year $428 · end of year $146

  • 10a · Land, buildings and equipment: cost or other basis

    $110,538

  • 10b · Land, buildings and equipment: accumulated depreciation

    $63,308

  • 10c · Land, buildings and equipment, net

    beginning of year $51,133 · end of year $47,230

  • 15 · Other assets

    beginning of year $314 · end of year $314

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,424 · end of year $2,550

  • 21 · Escrow or custodial account liability

    beginning of year $1,191,621 · end of year $1,112,463

  • 24 · Unsecured notes and loans payable

    beginning of year $282

  • 27 · Net assets without donor restrictions

    beginning of year $256,684 · end of year $281,815

Mission and programs · 2023

Mission

TO STRENGTHEN OUR COMMUNITIES BY PROVIDING TOOLS AND RESOURCES FOR ACHIEVING PERSONAL FINANCIAL STABILITY.

  • CREDIT COUNSELING: TO PROVIDE ASSISTANCE TO THE COMMUNITY WITH FINANCIAL PROBLEMS THROUGH CREDIT AND DEBT COUNSELING.

    Expenses $168,806 · Revenue $165,066

  • HOUSING COUNSELING: TO PROVIDE HOUSING AND LOSS MITIGATION COUNSELING TO EXISTING HOMEOWNERS, HOME OWNERSHIP OPPORTUNITIES, AND ANTI-PREDATORY LENDING ACTIVITIES TO INDIVIDUALS IN THE LOCAL COMMUNITIES. ALSO, TO PROVIDE REVERSE MORTGAGE COUNSELING TO INDIVIDUALS AGE 62+ NATIONWIDE.

    Expenses $303,726 · Grants $186,850 · Revenue $13,537

As filed on the 2023 return.

Listed in Part VII

  • Katy Hackett

    EXECUTIVE DI

    Total calculated
    $90,023
    From this org
    $90,023
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • John Gianola

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Tammy Green

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lauren Prugh

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • Emily Kerr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Terese Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
6 August 2024
IRS schema version
2023v5.0
Source object
202442199349300544

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