Friends in Need Charitable Foundation Inc

Analysis

Friends in Need Charitable Foundation Inc is a registered charity in United States, based in Pomona, NY. It received its IRS tax-exemption ruling in December 2017, 9 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 in Need Charitable Foundation Inc reported income of $502k and spending of $496k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $282k to $502k (+78%), an average of +78% a year. The sharpest change came in the year to December 2023, when income rose by 78%. Over the whole period it spent 103% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends in Need Charitable Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Bottineau Ambulance Service ($502k), Historic Paradise Foundation NFP ($502k) and Snowshoe Foundation Inc ($502k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. It paid $12k in professional fundraising fees. At year end it held assets of $38k against liabilities of $0, net assets of $38k.