Friends School Corporation

Analysis

Friends School Corporation is a registered charity in United States, based in Mullica Hill, NJ. It received its IRS tax-exemption ruling in June 1970, 56 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Friends School Corporation reported income of $4.2m and spending of $4.2m, spending 100% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $2.1m to $4.2m (+98%), an average of +19% a year. The sharpest change came in the year to July 2020, when income rose by 53%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends School Corporation sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NJ. Charities of a similar size with the same main cause include St Annes Terrace Inc ($4.2m), Ican Inc ($4.2m) and Tri-Unity Christian School Association ($4.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 1.8% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $158k (3.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $5.9m against liabilities of $3.7m, net assets of $2.2m. It reported 65 employees.