Famicos Foundation Inc

Analysis

Famicos Foundation Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in July 1970, 56 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, Famicos Foundation Inc reported income of $8.9m and spending of $11.5m, spending 129% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.4m to $8.9m (+39%), an average of +8.6% a year. The sharpest change came in the year to December 2020, when income rose by 70%. Over the whole period it spent 96% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Famicos Foundation Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within OH. Charities of a similar size with the same main cause include Alternatives for Girls ($8.8m), Western Home Services Inc ($8.9m) and Ring House Corporation ($8.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $409k (3.6% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $53.6m against liabilities of $21.3m, net assets of $32.3m. It reported 78 employees.