Friends Center City Riverfront

Analysis

Friends Center City Riverfront is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 2014, 12 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 June 2023, Friends Center City Riverfront reported income of $193k and spending of $253k, spending 131% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $209k to $193k (-7.3%), an average of -1.9% a year. The sharpest change came in the year to June 2021, when income dropped by 19%. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friends Center City Riverfront sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within PA. Charities of a similar size with the same main cause include Highbridge-Tpt Housing Developmentfund Corporation ($193k), Baptist Home of South Jersey ($193k) and Ingraham Housing Corporation Inc ($193k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 76% of the total. At year end it held assets of $1.0m against liabilities of $1.4m, net assets of -$341k.

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.