Friends of Boston Homeless Inc

Analysis

Friends of Boston Homeless Inc is a registered charity in United States, based in Beverly, MA. It received its IRS tax-exemption ruling in April 1988, 38 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 June 2024, Friends of Boston Homeless Inc reported income of $993k and spending of $1.2m, spending 118% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.5m to $993k (-33%), an average of -9.4% a year. The sharpest change came in the year to June 2021, when income dropped by 23%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friends of Boston Homeless Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MA. Charities of a similar size with the same main cause include The Westminster Canterbury of Lynchburg Foundation Inc ($992k), Life House Recovery Homes Inc ($994k) and Olm Senior Housing Development Fund Corporation ($991k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $137k (12% of expenses). At year end it held assets of $1.2m against liabilities of $280k, net assets of $940k. It reported 2 employees.