Friends of the Underline Inc

Analysis

Friends of the Underline Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in August 2014, 12 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 September 2023, Friends of the Underline Inc reported income of $2.7m and spending of $1.9m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to September 2023, income grew from $2.2m to $2.7m (+20%), an average of +4.8% a year. The sharpest change came in the year to September 2021, when income rose by 195%. Over the whole period it spent 44% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of the Underline Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within FL. Charities of a similar size with the same main cause include Good Work Institute Inc ($2.7m), Denver Indian Center Inc ($2.7m) and Starfish Project Incorporated ($2.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $302k (16% of expenses). Other salaries and wages came to $301k. At year end it held assets of $9.0m against liabilities of $278k, net assets of $8.8m. It reported 19 employees.