Friends of Parkside

Analysis

Friends of Parkside is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2023, Friends of Parkside reported income of $367k and spending of $384k, spending 105% of its income. Across the 3 years on record, from September 2021 to September 2023, income grew from $223k to $367k (+65%), an average of +28% a year. The sharpest change came in the year to September 2022, when income rose by 55%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of Parkside sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within MI. Charities of a similar size with the same main cause include Blossom Sustainable Development ($367k), Texas Association of Student Financial Aid Administrators Inc ($367k) and Teamcalifornia Economic Development Corporation ($367k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $9,757 against liabilities of $924, net assets of $8,833. It reported 12 employees.