The Friends Foundation

Analysis

The Friends Foundation is a registered charity in United States, based in Dripping SPGS, TX. It received its IRS tax-exemption ruling in March 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 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, The Friends Foundation reported income of $97k and spending of $102k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $89k to $97k (+9.3%), an average of +2.3% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 107% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, The Friends Foundation sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 38th percentile within TX. Charities of a similar size with the same main cause include Moshannon Housing Corporation ($97k), Independent Living Horizons Fifteen Inc ($97k) and Cathedral Terrace Inc ($97k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.0% of the total. At year end it held assets of $185k against liabilities of $0, net assets of $185k.