Friends of Hospice of the Lakeway Area Inc

Analysis

Friends of Hospice of the Lakeway Area Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in August 1988, 38 years ago. 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 2023, Friends of Hospice of the Lakeway Area Inc reported income of $450k and spending of $300k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $197k to $450k (+128%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 60%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Hospice of the Lakeway Area Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 70th percentile within TN. Charities of a similar size with the same main cause include Ross & Evelyn Daniels Charitable TR ($450k), Boise State University Alumni Association Inc ($450k) and Johnson City Senior Citizens Center Inc ($450k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 8.5% of the total. Compensation of current officers, directors and key employees was $47k (16% of expenses). Other salaries and wages came to $105k. At year end it held assets of $780k against liabilities of $25k, net assets of $755k. It reported 12 employees.