Friendship Place Inc

Analysis

Friendship Place Inc is a registered charity in United States, based in Georgetown, SC. It received its IRS tax-exemption ruling in February 2000, 26 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 December 2022, Friendship Place Inc reported income of $676k and spending of $470k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2018 to December 2022, income grew from $226k to $676k (+200%), an average of +32% a year. The sharpest change came in the year to December 2021, when income rose by 114%. Over the whole period it spent 65% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friendship Place Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 78th percentile within SC. Charities of a similar size with the same main cause include 1106 Morris Avenue Housing Development Fund Corp ($676k), Independence Housing II Inc ($676k) and Merrimack Valley Housing Partnership Inc ($676k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $67k (14% of expenses). Other salaries and wages came to $144k. At year end it held assets of $1.5m against liabilities of $368k, net assets of $1.1m. It reported 6 employees.