Friends of Agape Inc

Analysis

Friends of Agape Inc is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in August 2013, 13 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 March 2024, Friends of Agape Inc reported income of $8.5m and spending of $8.8m, spending 103% of its income. Across the 5 years on record, from March 2020 to March 2024, income grew from $3.5m to $8.5m (+144%), an average of +25% a year. The sharpest change came in the year to March 2023, when income rose by 49%. Over the whole period it spent 83% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Friends of Agape Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CO. Charities of a similar size with the same main cause include Nextbook Inc ($8.4m), New Life Ministries ($8.5m) and Oneshare International ($8.4m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 98% and program service revenue 0.3% of the total. At year end it held assets of $6.3m against liabilities of $40k, net assets of $6.2m.