Best Friends Foundation

Analysis

Best Friends Foundation is a registered charity in United States, based in Chevy Chase, MD. It received its IRS tax-exemption ruling in January 1994, 32 years ago. Its declared purposes cover education, which this site groups under education and training. 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 July 2020, Best Friends Foundation reported income of $538k and spending of $450k, spending 84% of its income. Across the 2 years on record, from July 2019 to July 2020, income grew from $454k to $538k (+18%), an average of +18% a year. The sharpest change came in the year to July 2020, when income rose by 18%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Best Friends Foundation sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Anne E Fowler Foudation Inc ($538k), Princeton Project 55 Inc ($538k) and Living and Learning Education Nonprofit Corporation ($537k).

On its Form 990 for the period ending July 2020, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $150k (33% of expenses). At year end it held assets of $150k against liabilities of $22k, net assets of $128k. It reported 1 employees.