Weve Got Friends Inc

Analysis

Weve Got Friends Inc is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in May 2020, 6 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, Weve Got Friends Inc reported income of $107k and spending of $218k, spending 203% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $264k to $107k (-59%), an average of -36% a year. The sharpest change came in the year to December 2022, when income dropped by 42%. Over the whole period it spent 90% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Weve Got Friends Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 46th percentile within NJ. Charities of a similar size with the same main cause include H E L P ($107k), American Veterans Help Corps NFP ($107k) and St Andrews Food Cupboard Inc ($107k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 91% of the total. At year end it held assets of $56k against liabilities of $1,451, net assets of $55k.