Friendship Shelter Inc

Analysis

Friendship Shelter Inc is a registered charity in United States, based in Laguna Woods, CA. It received its IRS tax-exemption ruling in January 1992, 34 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friendship Shelter Inc reported income of $12.8m and spending of $10.3m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.2m to $12.8m (+147%), an average of +25% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 93% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Shelter Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Hearth Connection ($12.8m), Cocoon House ($12.8m) and Broadway Towers Inc ($12.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 3.3% of the total. Compensation of current officers, directors and key employees was $260k (2.5% of expenses). Other salaries and wages came to $4.9m. At year end it held assets of $8.7m against liabilities of $4.5m, net assets of $4.2m. It reported 156 employees.