The Friendship Foundation

Analysis

The Friendship Foundation is a registered charity in United States, based in Redondo Beach, CA. It received its IRS tax-exemption ruling in June 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 August 2023, The Friendship Foundation reported income of $2.5m and spending of $3.6m, spending 143% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $3.4m to $2.5m (-27%), an average of -7.4% a year. The sharpest change came in the year to August 2021, when income rose by 1026%. Over the whole period it spent 43% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Friendship Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Christian Relief Services Charities Inc ($2.5m), Society of St Vincent de Paul District Council of Fort Myers ($2.5m) and Learning Connections of Bartonville ($2.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 87% and program service revenue 7.4% of the total. Compensation of current officers, directors and key employees was $56k (1.6% of expenses). Other salaries and wages came to $539k. At year end it held assets of $6.9m against liabilities of $2.9m, net assets of $4.0m. It reported 18 employees.