Friendship Center for New Beginnings Inc

Analysis

Friendship Center for New Beginnings Inc is a registered charity in United States, based in Flemington, NJ. It received its IRS tax-exemption ruling in May 1984, 42 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 December 2023, Friendship Center for New Beginnings Inc reported income of $149k and spending of $181k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $187k to $149k (-20%), an average of -5.4% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendship Center for New Beginnings Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 55th percentile within NJ. Charities of a similar size with the same main cause include Homes for the Exceptional Company Inc ($149k), Siloam ($149k) and Pearl Griffin Memorial Latch Key Program ($149k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $88k (49% of expenses). At year end it held assets of $307k against liabilities of $0, net assets of $307k. It reported 5 employees.