Friendship Place

Analysis

Friendship Place is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 September 2023, Friendship Place reported income of $20.7m and spending of $21.6m, spending 104% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $10.2m to $20.7m (+103%), an average of +19% a year. The sharpest change came in the year to September 2021, when income rose by 43%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Place 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 97th percentile, and in the 93rd percentile within DC. Charities of a similar size with the same main cause include Covenant Living at the Holmstad ($20.7m), Bay Area Community Services Housing Corporation ($20.8m) and Moosehaven Inc ($20.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 13% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $442k (2.0% of expenses). Other salaries and wages came to $9.2m. At year end it held assets of $10.0m against liabilities of $2.7m, net assets of $7.4m. It reported 214 employees.