Friendship Home Inc

Analysis

Friendship Home Inc is a registered charity in United States, based in Norwell, MA. It received its IRS tax-exemption ruling in September 2000, 26 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, Friendship Home Inc reported income of $4.4m and spending of $3.9m, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.7m to $4.4m (+63%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 51%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendship Home Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include Faith-Hope-Love-Charity Inc ($4.4m), Helpline House ($4.4m) and Area Agency on Aging of Southwest Arkansas Inc ($4.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 28% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $229k (5.9% of expenses). At year end it held assets of $8.6m against liabilities of $294k, net assets of $8.4m. It reported 67 employees.