Friendships for Hope Inc

Analysis

Friendships for Hope Inc is a registered charity in United States, based in National City, CA. It received its IRS tax-exemption ruling in August 2016, 10 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, Friendships for Hope Inc reported income of $1.5m and spending of $295k, leaving 81% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $342k to $1.5m (+353%), an average of +46% a year. The sharpest change came in the year to December 2021, when income rose by 438%. Over the whole period it spent 72% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Friendships for Hope Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include 100 Women in Finance Foundation Rehana Farrell ($1.5m), Park Lawn Association Inc ($1.5m) and Joy Meadows Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $84k. At year end it held assets of $160k against liabilities of $0, net assets of $160k. It reported 3 employees.