Faribo Area Senior Citizens Inc

Analysis

Faribo Area Senior Citizens Inc is a registered charity in United States, based in Faribault, MN. It received its IRS tax-exemption ruling in January 1989, 37 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Faribo Area Senior Citizens Inc reported income of $265k and spending of $326k, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $505k to $265k (-48%), an average of -15% a year. The sharpest change came in the year to December 2020, when income dropped by 40%. Over the whole period it spent 87% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Faribo Area Senior Citizens Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within MN. Charities of a similar size with the same main cause include Pawsitive Perspectives Assistance Dogs ($265k), Senior Citizens of Fulton County Inc ($265k) and All in Guatemala Inc ($265k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $59k (18% of expenses). Other salaries and wages came to $70k. At year end it held assets of $2.6m against liabilities of $104k, net assets of $2.5m. It reported 6 employees.