Friends Apartment Homes Inc

Analysis

Friends Apartment Homes Inc is a registered charity in United States, based in Plainfield, IN. It received its IRS tax-exemption ruling in January 2020, 6 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 (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 Apartment Homes Inc reported income of $207k and spending of $171k, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $145k to $207k (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2023, when income rose by 40%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friends Apartment Homes Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within IN. Charities of a similar size with the same main cause include Hillside Apartments Phase II Inc ($207k), Demarest Farms 2 Inc ($207k) and CPNJ Plainfield Residence II Inc ($207k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 77% of the total. Compensation of current officers, directors and key employees was $11k (6.4% of expenses). At year end it held assets of $1.4m against liabilities of $0, net assets of $1.4m. It reported 1 employees.