Friends of L a C E S

Analysis

Friends of L a C E S is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in November 1997, 29 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 L a C E S reported income of $359k and spending of $242k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $526k to $359k (-32%), an average of -9.1% a year. The sharpest change came in the year to June 2021, when income dropped by 38%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of L a C E S sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within CA. Charities of a similar size with the same main cause include The George Washington Institute for Religious Freedom ($359k), Cornerstone Cougars Inc ($359k) and Nevada Water Resources Association ($359k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% of the total. At year end it held assets of $631k against liabilities of $1,976, net assets of $629k.