Friends Life
Fiscal Year
Fiscal Year Start
01/01/2023
Fiscal Year End
12/31/2023
Projected Revenue
$1,595,000.00
Projected Expenses
$1,502,500.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Friends Life Community IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenue | $1,448,053.00 | $1,283,752.00 | $1,049,683.00 |
| Total Expenses | $1,208,996.00 | $994,483.00 | $906,570.00 |
| Revenue Less Expenses | $239,057.00 | $289,269.00 | $143,113.00 |
Revenue Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $0.00 | $105,400.00 | $105,400.00 |
| Contributions, Gifts, and Grants | $790,213.00 | $600,930.00 | $516,771.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $487,067.00 | $381,257.00 | $313,364.00 |
| Investment Income, Net of Losses | $3,243.00 | $48,006.00 | $19,244.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $167,530.00 | $148,159.00 | $94,904.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Program Expense | $765,275.00 | $650,407.00 | $553,213.00 |
| Administration Expense | $233,204.00 | $178,395.00 | $204,755.00 |
| Fundraising Expense | $210,517.00 | $165,681.00 | $148,602.00 |
| Total Revenue/Total Expenses | 120% | 129% | 116% |
| Program Expense/Total Expenses | 63% | 65% | 61% |
| Fundraising Expense/Contributed Revenue | 17% | 17% | 16% |
Top Funding Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $790,213.00 | Contributions, Gifts, Grants $600,930.00 | Contributions, Gifts and Grants $516,771.00 |
| Second Highest Funding Source & Dollar Amount | Program Revenue $487,067.00 | Program Revenue $381,257.00 | Program Revenue $313,364.00 |
| Third Highest Funding Source & Dollar Amount | Fundraising Events $167,530.00 | Fundraising Events $148,159.00 | Government Grants $105,400.00 |
Assets and Liabilities
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Assets | $1,694,411.00 | $1,329,376.00 | $1,035,833.00 |
| Current Assets | $801,251.00 | $556,494.00 | $535,794.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $78,858.00 | $58,683.00 | $54,409.00 |
| Total Net Assets | $1,615,553.00 | $1,270,693.00 | $981,424.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2024
Solicitations Permit
Form 990s
| Friends Life Community 2022 990 | 2022 |
| Friends Life Community 990 | 2021 |
| Friends Life Community 2020 990 | 2020 |
| Friends Life 2019 990 | 2019 |
| Friends Life 2018 990 | 2018 |
| Friends Life 2017 990 | 2017 |
| Friends Life 2016 990 | 2016 |
| Friends Life 2015 990 | 2015 |
| Friends Life 2014 990 | 2014 |
| Friends Life 2013 990 | 2013 |
| Friends Life 2012 990 | 2012 |
| Friends Life 2011 990 | 2011 |
| Friends Life 2010 990 | 2010 |
| Friends Life 2009 990 | 2009 |
| friends life 2008 990 | 2008 |
| friends life 2007 990 | 2007 |
Audit Documents
CEO/Executive Director/Board Comments
| As an organization, our revenues and expenses have steadily climbed. In July of 2015, our Board of Directors voted to allow access to our reserve funds for program development and investment, and approved a maximum amount of funds to be invested into the program over the next three years. Our strategic goals for the next three years focuses on growing our stakeholders. This will require additional investment in personnel. We intend to grow the organization's profit to ensure that it can sustain infrastructure and provide the peace of mind to families that Friends Life Community will remain a support system for their loved ones for many years to come. |
Foundation Staff Comments
| Financial figures taken from 990. 990 prepared by Thomason Financial Resources, Inc. Comments provided by Hayley Sulfridge 6/20/23. |
