Caring for Friends

Analysis

Caring for Friends is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 1978, 48 years ago. Its declared purposes cover food, agriculture and nutrition, 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 July 2023, Caring for Friends reported income of $9.8m and spending of $11.2m, spending 113% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $2.6m to $9.8m (+282%), an average of +40% a year. The sharpest change came in the year to July 2020, when income rose by 439%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Caring for Friends sits at the 94th percentile: it is larger than about 94% 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 Harry S Truman Childrens Neurological Center ($9.8m), King David Community Center of Atlanta Inc ($9.8m) and Midland Adult Services Inc ($9.8m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $125k (1.1% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $1.9m against liabilities of $542k, net assets of $1.4m. It reported 45 employees.