Friendship Homes Inc
EIN: 556023566 · Morgantown, WV · NTEE: P75Z
| Metric | Value |
|---|---|
| Total Revenue | $2.3M |
| Total Expenses | $291K |
| Net Assets | $-20,554 |
Is Friendship Homes Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Friendship Homes Inc
Friendship Homes Inc (EIN: 556023566) is a nonprofit organization based in Morgantown, WV, classified under NTEE code P75Z. The organization reported total revenue of $2.3M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friendship Homes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friendship Homes Inc is a mid-size nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $188K |
| Total Expenses | $291K |
| Surplus / Deficit | $-102,686 |
| Total Assets | $226K |
| Total Liabilities | $246K |
| Net Assets | $-20,554 |
| Operating Margin | -54.5% |
| Debt-to-Asset Ratio | 109.1% |
| Months of Reserves | 9.3 months |
Financial Health Grade: C
In 2023, Friendship Homes Inc reported a deficit of $103K with expenses exceeding revenue, holds 9.3 months of operating reserves (strong position), has a debt-to-asset ratio of 109.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Friendship Homes Inc's revenue has declined at a compound annual growth rate (CAGR) of -9.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -38.2% | +1.8% | -21.3% |
| 2022 | +15.8% | -2.8% | +-0.0% |
| 2021 | -33.0% | -33.6% | -14.4% |
| 2020 | -6.4% | +3.9% | -16.2% |
| 2019 | +18.9% | +23.7% | -13.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1964 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Friendship Homes Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Friendship Homes Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $103K, with expenses exceeding revenue.
- Debt-to-asset ratio: 109.1%.
Frequently Asked Questions about Friendship Homes Inc
Is Friendship Homes Inc a legitimate charity?
Friendship Homes Inc (EIN: 556023566) is a registered tax-exempt nonprofit based in West Virginia. It has 13 years of IRS 990 filings on record. Total revenue: $2.3M. No red flags identified. Financial health grade: C.
How does Friendship Homes Inc spend its money?
Friendship Homes Inc reported $2.3M in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Friendship Homes Inc tax-deductible?
Friendship Homes Inc is registered as a tax-exempt nonprofit (EIN: 556023566). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Friendship Homes Inc located?
Friendship Homes Inc is headquartered in Morgantown, West Virginia and files with the IRS under EIN 556023566. It is classified under NTEE code P75Z.
How many years of IRS 990 filings does Friendship Homes Inc have?
Friendship Homes Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.3M in total revenue.
Filing History
IRS 990 filing history for Friendship Homes Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Friendship Homes Inc's revenue has declined by 68.6%, moving from $600K to $188K. Total assets decreased by 68.4% over the same period, from $714K to $226K. Total functional expenses fell by 12.2%, from $332K to $291K. In its most recent filing year (2023), Friendship Homes Inc reported a deficit of $103K, with expenses exceeding revenue. The organization holds $246K in liabilities against $226K in assets (debt-to-asset ratio: 109.1%), resulting in net assets of $-20,554.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $188K | $291K | $226K | $246K | — | — |
| 2022 | $305K | $286K | $287K | $238K | — | View 990 |
| 2021 | $263K | $294K | $287K | $273K | — | View 990 |
| 2020 | $393K | $443K | $336K | $304K | — | — |
| 2019 | $420K | $427K | $400K | $319K | — | View 990 |
| 2018 | $353K | $345K | $461K | $372K | — | View 990 |
| 2017 | $345K | $359K | $458K | $377K | — | View 990 |
| 2016 | $364K | $385K | $517K | $422K | — | View 990 |
| 2015 | $354K | $362K | $570K | $454K | — | View 990 |
| 2014 | $324K | $376K | $597K | $474K | — | View 990 |
| 2013 | $338K | $370K | $648K | $473K | — | View 990 |
| 2012 | $404K | $359K | $700K | $492K | — | View 990 |
| 2011 | $600K | $332K | $714K | $552K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $188K, expenses of $291K, and assets of $226K (revenue -38.2% year-over-year).
- 2022: Revenue of $305K, expenses of $286K, and assets of $287K (revenue +15.8% year-over-year).
- 2021: Revenue of $263K, expenses of $294K, and assets of $287K (revenue -33.0% year-over-year).
- 2020: Revenue of $393K, expenses of $443K, and assets of $336K (revenue -6.4% year-over-year).
- 2019: Revenue of $420K, expenses of $427K, and assets of $400K (revenue +18.9% year-over-year).
- 2018: Revenue of $353K, expenses of $345K, and assets of $461K (revenue +2.3% year-over-year).
- 2017: Revenue of $345K, expenses of $359K, and assets of $458K (revenue -5.3% year-over-year).
- 2016: Revenue of $364K, expenses of $385K, and assets of $517K (revenue +2.7% year-over-year).
- 2015: Revenue of $354K, expenses of $362K, and assets of $570K (revenue +9.5% year-over-year).
- 2014: Revenue of $324K, expenses of $376K, and assets of $597K (revenue -4.2% year-over-year).
- 2013: Revenue of $338K, expenses of $370K, and assets of $648K (revenue -16.4% year-over-year).
- 2012: Revenue of $404K, expenses of $359K, and assets of $700K (revenue -32.6% year-over-year).
- 2011: Revenue of $600K, expenses of $332K, and assets of $714K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friendship Homes Inc:
Data Sources and Methodology
This transparency report for Friendship Homes Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.