Elderfriends a Foundation for Older Adults

Analysis

Elderfriends a Foundation for Older Adults is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in June 2001, 25 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Elderfriends a Foundation for Older Adults reported income of $125k and spending of $1,545, leaving 99% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income fell from $223k to $125k (-44%), an average of -25% a year. The sharpest change came in the year to June 2022, when income dropped by 36%. Over the whole period it spent 23% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Elderfriends a Foundation for Older Adults sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 40th percentile within AZ. Charities of a similar size with the same main cause include Fairway Foundation Inc ($125k), Lufkin Isd Education Foundation ($125k) and Josh Neuman Foundation Inc ($125k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $469k against liabilities of $0, net assets of $469k.