Friends of Young Scholars

Analysis

Friends of Young Scholars is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in January 2022, 4 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Friends of Young Scholars reported income of $285k and spending of $407k, spending 143% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income fell from $790k to $285k (-64%), an average of -40% a year. The sharpest change came in the year to June 2023, when income rose by 82%. Over the whole period it spent 56% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of Young Scholars sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within PA. Charities of a similar size with the same main cause include Walton County Christian Learning Center Inc ($285k), Teen Leadership Corps ($285k) and Ritenour Pride & Promise Foundation ($285k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.4% of the total. At year end it held assets of $5.5m against liabilities of $4.9m, net assets of $543k.