Friends of New Milford Inc

Analysis

Friends of New Milford Inc is a registered charity in United States, based in New Milford, CT. It received its IRS tax-exemption ruling in March 1998, 28 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, Friends of New Milford Inc reported income of $1.3m and spending of $1.3m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2024, income grew from $996k to $1.3m (+28%), an average of +6.4% a year. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of New Milford Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Hopes Place Inc ($1.3m), Flint Hills Coordinated Transit Council Inc ($1.3m) and Tiwahe Foundation ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% and program service revenue 4.9% of the total. Compensation of current officers, directors and key employees was $124k (9.4% of expenses). Other salaries and wages came to $764k. At year end it held assets of $654k against liabilities of $388k, net assets of $266k. It reported 34 employees.