Friends for Michael Inc

Analysis

Friends for Michael Inc is a registered charity in United States, based in Turners Sta, KY. It received its IRS tax-exemption ruling in February 1999, 27 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 for Michael Inc reported income of $60k and spending of $54k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $38k to $60k (+59%), an average of +59% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 83% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends for Michael Inc sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 22nd percentile within KY. Charities of a similar size with the same main cause include Ananda Mela LA ($60k), Nathalie & Theodore Jones Char TR Fbo Civil Liberties Union of Ma ($60k) and MW Cares Foundation ($60k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 49% of the total. At year end it held assets of $29k against liabilities of $0, net assets of $29k.