Friendship Centers of Emmet County

Analysis

Friendship Centers of Emmet County is a registered charity in United States, based in Petoskey, MI. It received its IRS tax-exemption ruling in January 1970, 56 years ago. Its declared purposes cover human services, 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 September 2023, Friendship Centers of Emmet County reported income of $2.8m and spending of $2.3m, spending 85% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.0m to $2.8m (+35%), an average of +7.8% a year. The sharpest change came in the year to September 2023, when income rose by 25%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendship Centers of Emmet County sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within MI. Charities of a similar size with the same main cause include West Central Nebraska Area Agency ($2.8m), Gateway to Hope Ministries Inc ($2.8m) and The Livestock Institute of Southern New England Inc ($2.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 94% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $105k (4.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $3.4m against liabilities of $111k, net assets of $3.2m. It reported 44 employees.