Friends of Seamens Society

Analysis

Friends of Seamens Society is a registered charity in United States, based in Staten Island, NY. It received its IRS tax-exemption ruling in September 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of Seamens Society reported income of $626k and spending of $914k, spending 146% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $773k to $626k (-19%), an average of -5.2% a year. The sharpest change came in the year to June 2023, when income dropped by 19%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of Seamens Society sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within NY. Charities of a similar size with the same main cause include Independent Choices Inc ($626k), Providence House ($626k) and Domestic Violence Intervention Center ($625k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.4% and program service revenue 91% of the total. At year end it held assets of $6.2m against liabilities of $2.8m, net assets of $3.4m.