The Friends of King School

Analysis

The Friends of King School is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in January 2008, 18 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, The Friends of King School reported income of $14.6m and spending of $14.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $15.5m to $14.6m (-6.1%), an average of -1.6% a year. The sharpest change came in the year to June 2022, when income rose by 38%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Friends of King School sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within LA. Charities of a similar size with the same main cause include Patriot Preparatory Academy ($14.6m), Pee Dee Medical & Health Sciences Education Consortium ($14.6m) and Kings Way Christian Schools ($14.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $493k (3.5% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $4.2m against liabilities of $1.2m, net assets of $3.0m. It reported 197 employees.