Friendship Plaza I Inc

Analysis

Friendship Plaza I Inc is a registered charity in United States, based in Marion, OH. It received its IRS tax-exemption ruling in July 1999, 27 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friendship Plaza I Inc reported income of $296k and spending of $377k, spending 127% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $248k to $296k (+19%), an average of +4.5% a year. Over the whole period it spent 121% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Plaza I Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 61st percentile within OH. Charities of a similar size with the same main cause include Partnership Housing of Southwest Alabama ($296k), Springdale Housing Phase II Inc ($296k) and Norma Locklear-Pitts Senior Community Inc ($296k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. Other salaries and wages came to $54k. At year end it held assets of $876k against liabilities of $2.4m, net assets of -$1.5m. It reported 3 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.