Friendship Circle

Analysis

Friendship Circle is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in September 2005, 21 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Friendship Circle reported income of $2.1m and spending of $2.2m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $2.1m (+111%), an average of +21% a year. The sharpest change came in the year to December 2023, when income rose by 66%. Over the whole period it spent 107% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Friendship Circle sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include United National Indian Tribal Youth Inc ($2.1m), Kid Street Learning Center Inc ($2.1m) and Ronald McDonald House Charities of Northern California ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $296k (14% of expenses). Other salaries and wages came to $669k. At year end it held assets of $1.7m against liabilities of $1.8m, net assets of -$173k. It reported 19 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.