Friends Boarding Home of Concord Quarterly Meeting

Analysis

Friends Boarding Home of Concord Quarterly Meeting is a registered charity in United States, based in West Chester, PA. It received its IRS tax-exemption ruling in July 1942, 84 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends Boarding Home of Concord Quarterly Meeting reported income of $9.8m and spending of $7.7m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.4m to $9.8m (+53%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 21%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends Boarding Home of Concord Quarterly Meeting 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 95th percentile, and in the 94th percentile within PA. Charities of a similar size with the same main cause include Michigan Association of Intermediate School Administrators ($9.8m), Tac Industries Inc ($9.8m) and Warren Center Inc ($9.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $127k (1.7% of expenses). Other salaries and wages came to $3.3m. At year end it held assets of $28.1m against liabilities of $19.8m, net assets of $8.4m. It reported 182 employees.