Friends Network Inc

Analysis

Friends Network Inc is a registered charity in United States, based in Brewster, NY. It received its IRS tax-exemption ruling in August 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 December 2023, Friends Network Inc reported income of $501k and spending of $470k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $415k to $501k (+21%), an average of +4.8% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 100% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends Network Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Sponsored by Grace Inc ($501k), Sumter County Developmental Disabilities Foundation ($501k) and Common Ground Outdoor Adventures Inc ($501k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $224k (48% of expenses). Other salaries and wages came to $14k. At year end it held assets of $137k against liabilities of $6,837, net assets of $130k. It reported 3 employees.