Friendship Homes Inc

Analysis

Friendship Homes Inc is a registered charity in United States, based in Nashville, TN. It received its IRS tax-exemption ruling in April 2003, 23 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friendship Homes Inc reported income of $99k and spending of $111k, spending 112% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $23k to $99k (+323%), an average of +43% a year. The sharpest change came in the year to June 2021, when income rose by 117%. Over the whole period it spent 142% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Homes Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 36th percentile within TN. Charities of a similar size with the same main cause include Reaching Out to You Inc ($99k), CPNJ Livingston Residence Inc ($99k) and Peaceful Haven Inc ($99k).

At year end it held assets of $480k against liabilities of $100k, net assets of $380k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.