LET THERE BE MOM INC
Mission Statement
Let There Be Mom Inc will help moms when they, or their childrens' father, becomes diagnosed with a life threatening illness. Our main objective is to create a legacy to be given to the children of the diagnosed parent. In addition, we strive to give support to these moms with the stresses of everyday life; to help each of these families experience more "beautiful moments" thereby creating more memories; to allow the children to give a "gift" to their parent; and to encourage all moms and dads, healthy or otherwise, to record their own story to be passed on to their children. Let There Be Mom Inc will serve moms and dads, who become diagnosed with a non-infectious life threatening condition, that have full or partial legal custody of at least one child under the age of 18.
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
95.0% | 86.4% |
P10P90
|
Above median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
3.7% | 10.4% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
1.3% | 0.0% |
P10P90
|
Below median |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
2.6% | 17.3% |
P10P90
|
Above median |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
23.0 mo | 8.6 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
0.0% | 1.8% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
66.0% | 96.8% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
11.9% | 7.2% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
1.9% | 11.5% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
26.0% | 2.1% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $576K | $426K | $818K | 95.0% | 3 |
| 2022 | $515K | $418K | $668K | 89.3% | 4 |
| 2021 | $475K | $357K | N/A | — | 2 |
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