Friends of the Poor Inc

Analysis

Friends of the Poor Inc is a registered charity in United States, based in Circle Pines, MN. It received its IRS tax-exemption ruling in July 2014, 12 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 December 2023, Friends of the Poor Inc reported income of $510k and spending of $417k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $537k to $510k (-5.1%), an average of -1.3% a year. The sharpest change came in the year to December 2020, when income rose by 23%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of the Poor Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MN. Charities of a similar size with the same main cause include Migdal Foundation Inc ($510k), Valley Mission Inc ($510k) and Farmers for Sustainable Food ($510k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m.