Friars Club Inc

Analysis

Friars Club Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in March 1946, 80 years ago. 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 2023, Friars Club Inc reported income of $608k and spending of $873k, spending 144% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $608k (-43%), an average of -13% a year. The sharpest change came in the year to June 2020, when income dropped by 50%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friars Club Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 74th percentile within OH. Charities of a similar size with the same main cause include Big Step Inc ($608k), Life Center of the Suncoast Inc ($608k) and National Shrine of Saint Frances Xavier Cabrini Inc ($608k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $114k (13% of expenses). Other salaries and wages came to $192k. At year end it held assets of $1.8m against liabilities of $41k, net assets of $1.7m. It reported 6 employees.

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.