Friends of Amateur Rocketry Inc

Analysis

Friends of Amateur Rocketry Inc is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in November 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Friends of Amateur Rocketry Inc reported income of $485k and spending of $120k, leaving 75% of income unspent that year. Across the 4 years on record, from December 2018 to December 2023, income grew from $46k to $485k (+966%), an average of +120% a year. The sharpest change came in the year to December 2023, when income rose by 631%. Over the whole period it spent 70% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Amateur Rocketry Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include Nonprofit Hub ($485k), Folds of Honor Foundation ($485k) and Growing Garden Nursery School of Paramus Inc ($485k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $23k (19% of expenses). At year end it held assets of $792k against liabilities of $0, net assets of $792k.