Far Away Friends Inc

Analysis

Far Away Friends Inc is a registered charity in United States, based in Lakewood, CO. It received its IRS tax-exemption ruling in November 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Far Away Friends Inc reported income of $326k and spending of $339k, spending 104% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $330k to $326k (-1.0%), an average of -0.5% a year. Over the whole period it spent 101% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Far Away Friends Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within CO. Charities of a similar size with the same main cause include Chapel Vision Community Development Corporation ($326k), Native Island Business & Community Affairs Association Inc ($327k) and Rotary Foundation of Washington DC ($326k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $48k (14% of expenses). At year end it held assets of $46k against liabilities of $0, net assets of $46k. It reported 2 employees.