Friends of Olancho

Analysis

Friends of Olancho is a registered charity in United States, based in Rutherfordton, NC. It received its IRS tax-exemption ruling in April 2004, 22 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Friends of Olancho reported income of $62k and spending of $22k, leaving 65% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $53k to $62k (+18%), an average of +18% a year. The sharpest change came in the year to June 2024, when income rose by 18%. Over the whole period it spent 62% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Friends of Olancho sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 22nd percentile within NC. Charities of a similar size with the same main cause include Open Door Fellowship ($62k), Ministerio Cristiano Shekinah ($62k) and Shekinah Glory International Fellowship Sgif ($62k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $71k against liabilities of $0, net assets of $71k.