Friendship Foundation Inc

Analysis

Friendship Foundation Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in November 1984, 42 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friendship Foundation Inc reported income of $92k and spending of $50k, leaving 45% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $27k to $92k (+239%), an average of +84% a year. The sharpest change came in the year to December 2022, when income rose by 411%. Over the whole period it spent 48% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friendship Foundation Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 34th percentile within NY. Charities of a similar size with the same main cause include Ezra-Uganda Assistance ($92k), Lincolnway Special Recreation Foundation ($92k) and Victory for Veterans Inc ($92k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 59% of the total. At year end it held assets of $273k against liabilities of $7,597, net assets of $265k.