Friends University

Analysis

Friends University is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in September 1924, 102 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends University reported income of $45.2m and spending of $45.6m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $40.9m to $45.2m (+11%), an average of +2.6% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends University sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within KS. Charities of a similar size with the same main cause include TLC Academy ($45.2m), Lagrange College ($45.2m) and Rocketship Education DC Inc ($45.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $717k (1.6% of expenses). Other salaries and wages came to $12.7m. It paid $43k in professional fundraising fees. At year end it held assets of $119.5m against liabilities of $5.5m, net assets of $114.0m. It reported 835 employees.