Friendship Homes Inc

Analysis

Friendship Homes Inc is a registered charity in United States, based in Morgantown, WV. It received its IRS tax-exemption ruling in June 1964, 62 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 September 2023, Friendship Homes Inc reported income of $188k and spending of $291k, spending 155% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $420k to $188k (-55%), an average of -18% a year. The sharpest change came in the year to September 2023, when income dropped by 38%. Over the whole period it spent 111% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendship Homes Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 50th percentile within WV. Charities of a similar size with the same main cause include Suzerain ($188k), Neighbors Helping Neighbors Incc ($188k) and Wayne Cares Inc ($188k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $64k. At year end it held assets of $226k against liabilities of $246k, net assets of -$21k. It reported 2 employees.