Old Friends Inc

Analysis

Old Friends Inc is a registered charity in United States, based in Georgetown, KY. It received its IRS tax-exemption ruling in March 2004, 22 years ago. Its declared purposes cover animal-related, which this site groups under animals. 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, Old Friends Inc reported income of $3.6m and spending of $3.2m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $3.6m (+47%), an average of +10% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 85% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Old Friends Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within KY. Charities of a similar size with the same main cause include Foundation Against Companion Animal Euthanasia Inc ($3.6m), Animal Place ($3.7m) and Kauai Humane Society ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $173k (5.4% of expenses). Other salaries and wages came to $129k. At year end it held assets of $5.4m against liabilities of $2.5m, net assets of $2.9m. It reported 30 employees.