Is Fast Friends Legit?

Fast Friends demonstrates consistent financial activity over the past decade, with revenues generally keeping pace with expenses. In the latest filing (202312), the organization reported revenues of $1,499,293 against expenses of $1,360,145, indicating a surplus for the year. However, a notable concern is the persistent negative net asset position, with liabilities consistently exceeding assets. For instance, in 202312, assets were $1,467,053 while liabilities stood at $1,935,515, suggesting long-term financial obligations or debt that outweigh its current holdings. This trend has been consistent across all reported periods, indicating a structural financial challenge. The organization's spending efficiency cannot be fully assessed without a detailed breakdown of program, administrative, and fundraising expenses, which is not provided in the summary data. However, the consistent reporting of 0% officer compensation across all filings suggests a commitment to minimizing executive overhead, which is a positive indicator for donor confidence. The lack of specific NTEE code information limits a direct comparison to peer organizations, but the consistent filing history and the absence of reported officer compensation contribute positively to its transparency profile. Overall, Fast Friends appears to manage its annual operations effectively, often generating a modest surplus. The primary financial challenge lies in its long-term balance sheet, characterized by liabilities exceeding assets. While annual operational efficiency seems reasonable, the underlying financial structure warrants closer examination for long-term sustainability.