Friends Publishing Corporation

Analysis

Friends Publishing Corporation is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in November 1955, 71 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2023, Friends Publishing Corporation reported income of $1.3m and spending of $1.3m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $912k to $1.3m (+38%), an average of +8.3% a year. The sharpest change came in the year to June 2020, when income rose by 95%. Over the whole period it spent 86% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Friends Publishing Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include Catalyst Missions Group Inc ($1.3m), Gospel Operation International for Chinese Christians ($1.3m) and Fellowship of the Sword Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $146k (11% of expenses). Other salaries and wages came to $440k. It paid $46k in professional fundraising fees. At year end it held assets of $3.8m against liabilities of $74k, net assets of $3.8m. It reported 11 employees.