Global Friendship Ventures

Analysis

Global Friendship Ventures is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in March 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 December 2023, Global Friendship Ventures reported income of $708k and spending of $726k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $483k to $708k (+47%), an average of +10% a year. The sharpest change came in the year to December 2020, when income rose by 88%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Global Friendship Ventures sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within VA. Charities of a similar size with the same main cause include Woodlawn Preschool ($708k), Ophthalmology Foundation ($708k) and McEachern High School Athletic Booster Club Inc ($708k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 0.5% of the total. Other salaries and wages came to $205k. At year end it held assets of $3.8m against liabilities of $209k, net assets of $3.6m. It reported 6 employees.