Katahdin Friends Inc

Analysis

Katahdin Friends Inc is a registered charity in United States, based in Millinocket, ME. It received its IRS tax-exemption ruling in December 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Katahdin Friends Inc reported income of $8.0m and spending of $7.7m, spending 96% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $6.2m to $8.0m (+29%), an average of +6.6% a year. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Katahdin Friends Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within ME. Charities of a similar size with the same main cause include Vietnamese Asso of Illinois ($8.0m), Alaska Family Services Inc ($8.0m) and Crossroads Mission ($8.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.0% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $207k (2.7% of expenses). Other salaries and wages came to $4.1m. At year end it held assets of $6.9m against liabilities of $858k, net assets of $6.0m. It reported 128 employees.