Friendship Apartment Village Corporation

Analysis

Friendship Apartment Village Corporation is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in February 1979, 47 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friendship Apartment Village Corporation reported income of $6.0m and spending of $5.1m, spending 85% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.8m to $6.0m (+25%), an average of +7.8% a year. Over the whole period it spent 92% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Apartment Village Corporation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Texas Inter-Faith Housing Corporati on ($6.0m), Ithaca Neighborhood Housing Services Inc ($6.0m) and Humble Design Inc ($6.0m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 89% of the total. Other salaries and wages came to $698k. At year end it held assets of $29.8m against liabilities of $17.1m, net assets of $12.7m. It reported 30 employees.