Friends House Ministries Inc

Analysis

Friends House Ministries Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 December 2023, Friends House Ministries Inc reported income of $401k and spending of $387k, spending 96% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $738k to $401k (-46%), an average of -46% a year. The sharpest change came in the year to December 2023, when income dropped by 46%. Over the whole period it spent 60% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Friends House Ministries Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within TN. Charities of a similar size with the same main cause include Rosey Grier Giant Step Foundation ($401k), Alton Housing for the Elderly Inc ($401k) and Mhany 2012 II Housing Development Fund Corporation ($401k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Other salaries and wages came to $180k. At year end it held assets of $517k against liabilities of $9,843, net assets of $508k.