Friendship Village Charitable TR

Analysis

Friendship Village Charitable TR is a registered charity in United States, based in Waterloo, IA. It received its IRS tax-exemption ruling in January 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2024, Friendship Village Charitable TR reported income of $4.2m and spending of $4.9m, spending 116% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $2.3m to $4.2m (+86%), an average of +17% a year. The sharpest change came in the year to March 2022, when income rose by 685%. Over the whole period it spent 149% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Village Charitable TR sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include Cabrillo Economic Development Corp ($4.2m), Archbishop Carroll Manor Inc ($4.2m) and Allentown Rescue Mission Inc ($4.2m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 54% of the total. At year end it held assets of $10.5m against liabilities of $0, net assets of $10.5m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.