Friends of Lubavitch Inc

Analysis

Friends of Lubavitch Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in September 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Friends of Lubavitch Inc reported income of $660k and spending of $432k, leaving 35% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $372k to $660k (+77%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 67%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Lubavitch Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within LA. Charities of a similar size with the same main cause include Charter School of Morgan Hill Foundation ($660k), Yeshiva Building Fund Inc ($660k) and New Harvest Christian Schools ($660k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $36k (8.3% of expenses). At year end it held assets of $4.1m against liabilities of $1.4m, net assets of $2.7m. It reported 2 employees.