Friends of the Bay Inc

Analysis

Friends of the Bay Inc is a registered charity in United States, based in Oyster Bay, NY. It received its IRS tax-exemption ruling in January 1991, 35 years ago. 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 December 2023, Friends of the Bay Inc reported income of $331k and spending of $238k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $214k to $331k (+55%), an average of +12% a year. The sharpest change came in the year to December 2023, when income rose by 21%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Bay Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Haccc Casa Del Rio Inc ($331k), John D Barrow Collection or Art Gallery ($331k) and DRKB Inc ($331k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% of the total. Compensation of current officers, directors and key employees was $80k (34% of expenses). Other salaries and wages came to $29k. At year end it held assets of $375k against liabilities of $3,963, net assets of $371k. It reported 2 employees.