Friendship Circle of Miami Inc

Analysis

Friendship Circle of Miami Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in April 2007, 19 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 September 2023, Friendship Circle of Miami Inc reported income of $432k and spending of $496k, spending 115% of what it took in. Across the 6 years on record, from June 2019 to September 2023, income fell from $2.5m to $432k (-83%), an average of -30% a year. The sharpest change came in the year to September 2023, when income dropped by 74%. Over the whole period it spent 58% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendship Circle of Miami 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 68th percentile, and in the 71st percentile within FL. Charities of a similar size with the same main cause include Smarty Pants Daycare Inc ($432k), Switch ($432k) and White River Valley Electric Trust Inc ($432k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 93% and program service revenue 7.2% of the total. Compensation of current officers, directors and key employees was $53k (11% of expenses). Other salaries and wages came to $181k. At year end it held assets of $4.3m against liabilities of $515k, net assets of $3.8m. It reported 13 employees.