Friends of Residential Treasures LA

Analysis

Friends of Residential Treasures LA is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in February 2019, 7 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of Residential Treasures LA reported income of $141k and spending of $146k, spending 104% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $80k to $141k (+75%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 91%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Friends of Residential Treasures LA sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 48th percentile within CA. Charities of a similar size with the same main cause include Global Brotherhood Foundation ($140k), Baltimore Rotary Foundation Inc ($141k) and San Diego Womans Club Foundation ($140k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $42k (29% of expenses). It paid $9,835 in professional fundraising fees. At year end it held assets of $16k against liabilities of $925, net assets of $15k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.