Friends of Kitov Inc

Analysis

Friends of Kitov Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 2016, 10 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Kitov Inc reported income of $322k and spending of $497k, spending 154% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $34k to $322k (+841%), an average of +207% a year. The sharpest change came in the year to December 2022, when income rose by 846%. Over the whole period it spent 103% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Friends of Kitov Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include E3 Elevating Education Everywhere Inc ($322k), Q Place ($322k) and Kollel Bais Yosef Inc ($322k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $80k against liabilities of $0, net assets of $80k.