Friends for Life

Analysis

Friends for Life is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in December 1989, 37 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 August 2023, Friends for Life reported income of $3.8m and spending of $3.5m, spending 93% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.7m to $3.8m (+39%), an average of +8.5% a year. The sharpest change came in the year to August 2023, when income rose by 20%. Over the whole period it spent 97% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Friends for Life sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include McCandless-Franklin Park Ambulance Authority ($3.8m), Mercy Transitional Care Services ($3.8m) and American College of Osteopathic Internists Inc ($3.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 29% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $129k (3.7% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $2.7m against liabilities of $1.5m, net assets of $1.2m. It reported 116 employees.