Friends of Citrus and the Nature Coast Inc

Analysis

Friends of Citrus and the Nature Coast Inc is a registered charity in United States, based in Homosassa, FL. It received its IRS tax-exemption ruling in September 1984, 42 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 Citrus and the Nature Coast Inc reported income of $1.6m and spending of $1.6m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.6m to $1.6m (-1.2%), an average of -0.3% a year. The sharpest change came in the year to December 2021, when income rose by 2138%. Over the whole period it spent 187% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of Citrus and the Nature Coast Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Meals on Wheels of Syracuse New York Inc ($1.6m), Nittany Lion Wrestling Club ($1.6m) and Southwest Christian Academy Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $69k (4.3% of expenses). Other salaries and wages came to $527k. At year end it held assets of $3.4m against liabilities of $672k, net assets of $2.7m. It reported 15 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.