Friends with Benefit Charity Events Inc

Analysis

Friends with Benefit Charity Events Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in September 2018, 8 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 with Benefit Charity Events Inc reported income of $201k and spending of $260k, spending 130% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $89k to $201k (+125%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 357%. Over the whole period it spent 102% 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 with Benefit Charity Events Inc sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 52nd percentile within NC. Charities of a similar size with the same main cause include The Phoenixville Jaycees Foundation ($201k), Carmel Womans Club Inc ($201k) and Nishtar Alumni of North America - Nana ($201k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 406% and program service revenue 90% of the total. Other salaries and wages came to $43k. At year end it held assets of $13k against liabilities of $42k, net assets of -$29k. It reported 15 employees.