Friends of Catholic Education Inc

Analysis

Friends of Catholic Education Inc is a registered charity in United States, based in Frederick, MD. It received its IRS tax-exemption ruling in July 1991, 35 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Friends of Catholic Education Inc reported income of $203k and spending of $294k, spending 145% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $286k to $203k (-29%), an average of -6.6% a year. The sharpest change came in the year to June 2022, when income rose by 109%. Over the whole period it spent 152% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Catholic Education Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 54th percentile within MD. Charities of a similar size with the same main cause include Parent Booster USA Inc ($203k), Keith-Arthur County Food Pantry Inc ($203k) and Friends of Randolph Animal Pound Inc ($203k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 59% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $71k (24% of expenses). Other salaries and wages came to $18k. At year end it held assets of $4.2m against liabilities of $1.8m, net assets of $2.4m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.