Fast Friends

Analysis

Fast Friends is a registered charity in United States, based in Swanzey, NH. It received its IRS tax-exemption ruling in April 1994, 32 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fast Friends reported income of $1.5m and spending of $1.4m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.5m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 23%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fast Friends sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within NH. Charities of a similar size with the same main cause include National Association of Power Engineers Educational FNDTN Inc ($1.5m), Simsbury Volunteer Ambulance Association Inc ($1.5m) and New Pilgrim Homes Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $110k (8.1% of expenses). Other salaries and wages came to $788k. At year end it held assets of $1.5m against liabilities of $1.9m, net assets of -$468k. It reported 47 employees.