Friends Center for Children Inc

Analysis

Friends Center for Children Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in July 2004, 22 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Friends Center for Children Inc reported income of $5.3m and spending of $3.7m, leaving 30% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.9m to $5.3m (+172%), an average of +28% a year. The sharpest change came in the year to June 2021, when income rose by 76%. Over the whole period it spent 75% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends Center for Children Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within CT. Charities of a similar size with the same main cause include Tri-Cities Food Bank ($5.3m), Boston Center for Independent Living Inc ($5.3m) and Marie Detty Youth & Family Service Center Inc ($5.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $179k (4.9% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $10.1m against liabilities of $2.9m, net assets of $7.2m. It reported 82 employees.