Friends of Hong Kong Charities Inc

Analysis

Friends of Hong Kong Charities Inc is a registered charity in United States, based in Hong Kong. It received its IRS tax-exemption ruling in January 2003, 23 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 of Hong Kong Charities Inc reported income of $5.4m and spending of $5.4m, spending 100% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $7.5m to $5.4m (-29%), an average of -6.5% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 100% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Friends of Hong Kong Charities Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 92nd percentile. Charities of a similar size with the same main cause include Saint Grace Inc ($5.4m), Premier Health Partners ($5.4m) and New Destiny Treatment Center Inc ($5.4m).

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 $1.8m against liabilities of $1.9m, net assets of -$148k.