Friends of the Homeless Inc

Analysis

Friends of the Homeless Inc is a registered charity in United States, based in Kinston, NC. It received its IRS tax-exemption ruling in July 2019, 7 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 December 2023, Friends of the Homeless Inc reported income of $57k and spending of $120k, spending 210% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $143k to $57k (-60%), an average of -37% a year. The sharpest change came in the year to December 2022, when income rose by 196%. Over the whole period it spent 54% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friends of the Homeless Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 20th percentile within NC. Charities of a similar size with the same main cause include Kids in Motion Therapy Clinic ($57k), Cherith Ministries Inc ($57k) and Hope 4 the Heart ($57k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. Other salaries and wages came to $74k. At year end it held assets of $509k against liabilities of $1,962, net assets of $507k. It reported 7 employees.