Friendship Knot Quilters Guild Inc

Analysis

Friendship Knot Quilters Guild Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in March 2010, 16 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friendship Knot Quilters Guild Inc reported income of $63k and spending of $45k, leaving 28% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $28k to $63k (+122%), an average of +122% a year. The sharpest change came in the year to December 2023, when income rose by 122%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friendship Knot Quilters Guild Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 28th percentile within FL. Charities of a similar size with the same main cause include National Society of the Daughters of the American Revolution ($63k), Danish Heritage Preservation Society of Danevang Inc ($63k) and Brethren Heritage Center ($63k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 1.3% and program service revenue 88% of the total. At year end it held assets of $79k against liabilities of $0, net assets of $79k.