SUMMIT, NJ - For the eighth straight year, Summit-based Family Promise has received a 4-star rating from Charity Navigator, America’s largest independent charity evaluator. This year, Family Promise earned a perfect score of 100 points, one of only 71 nonprofits across the nation to do so.
Family Promise is currently working in over 200 communities in 43 states to ensure that families experiencing homelessness have a safe place to call home and the resources they need during the COVID-19 pandemic. What began as a local initiative in Summit has become a national movement that involves 200,000 volunteers and served more than 111,000 family members in 2019.
Glen Rock-based Charity Navigator evaluates charities and issues rated nonprofits a numeric score, based on financial health and governance practices, that is then used to generate a star rating. Family Promise's 4-star rating, the highest star rating available,is a distinction given to only six percent of rated nonprofits.
Since 2002, using objective analysis, Charity Navigator has awarded only the most fiscally responsible organizations a 4-star rating. Ratings have evolved over the years to include metrics regarding financial health, governance practices, and accountability & transparency.
“Family Promise’s exceptional 4-star rating sets it apart from its peers and demonstrates its trustworthiness to the public,” said Michael Thatcher, Charity Navigator President and CEO. “Only a quarter of charities rated by Charity Navigator receive the distinction of our 4-star rating. This adds Family Promise to a preeminent group of charities working to overcome our world’s most pressing challenges. Based on its 4-star rating, people can trust that their donations are going to a financially responsible and ethical charity when they decide to support Family Promise.”
“Family Promise is committed to operating at the highest levels of ethics, financial health, accountability, and transparency. We owe that to our supporters and funders and are proud to be honored by Charity Navigator for achieving the 4-star standard for eight consecutive years,” said Claas Ehlers, Family Promise CEO.