Friendship Circle of Cleveland Inc

Analysis

Friendship Circle of Cleveland Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friendship Circle of Cleveland Inc reported income of $1.7m and spending of $1.8m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.7m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2022, when income rose by 78%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Friendship Circle of Cleveland Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include Onepassion Ministries Inc ($1.7m), Cutting Edge International Inc ($1.7m) and Missions Ministries ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 8.0% of the total. Other salaries and wages came to $583k. At year end it held assets of $1.1m against liabilities of $205k, net assets of $876k. It reported 42 employees.