Friendship Industries Inc
- Assets
- $9.0m
- Revenue
- $4.0m
- Investments
- $187.6k
- Employees
- 59
- Location
- Harrisonburg, VA
- Founding
- 06/1972
- Data as of
- 06/2023
- EIN
- 54-6073412
Organization Overview
Friendship Industries Inc is located in Harrisonburg, VA. The organization was established in 1972. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2023, Friendship Industries Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Industries Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Friendship Industries Inc generated $4.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $3.8m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDSHIP INDUSTRIES DEVELOPS AND MAINTAINS EMPLOYMENT AND TRAINING OPPORTUNITIES FOR PERSONS WITH DISABILITIES IN INTEGRATED WORK ENVIRONMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDSHIP INDUSTRIES PROVIDED EMPLOYMENT AND TRAINING SERVICES FOR 34 PERSONS IN OUR BUSINESSES OF CONTRACT PACKAGING AND GOVERNMENT CONTRACTING. AND, THROUGH OUR TRANSPORTATION PROGRAM, WE PROVIDED A MEANS TO GET TO WORK FOR 11 EMPLOYEES THROUGHOUT THE YEAR. OUR PROGRAM SERVICES AID PERSONS WITH DISABILITIES AND THEIR FAMILIES IN HARRISONBURG AND ROCKINGHAM BY PLACING EMPLOYMENT OPPORTUNITIES WITHIN REACH FOR ALL. OUR INTEGRATED WORK ENVIRONMENT PROVIDES THE RIGHT ENVIRONMENT FOR INCREASED OPPORTUNITIES AND WAGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcy Engle Chair | OfficerTrustee | 5 | $0 |
Gary Shickel Vice Chair | OfficerTrustee | 5 | $0 |
Gary Calleo Treasurer | OfficerTrustee | 5 | $0 |
Harry Reif Secretary | OfficerTrustee | 5 | $0 |
Brian Shull Past Chair | OfficerTrustee | 5 | $0 |
Johnny Garber Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,703 |
| All other contributions, gifts, grants, and similar amounts not included above | $313,387 |
| Noncash contributions included in lines 1a–1f | $160,650 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $356,090 |
| Total Program Service Revenue | $1,936,596 |
| Investment income | $72,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $73,644 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,951,019 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $225,818 |
| Compensation of current officers, directors, key employees. | $30,427 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,192,572 |
| Pension plan accruals and contributions | $34,416 |
| Other employee benefits | $113,508 |
| Payroll taxes | $108,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,665 |
| Fees for services: Accounting | $35,243 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,952 |
| Fees for services: Other | $69,209 |
| Advertising and promotion | $1,218 |
| Office expenses | $63,617 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $241,104 |
| Travel | $52,512 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,952 |
| Interest | $80,175 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $255,636 |
| Insurance | $36,153 |
| All other expenses | $16,393 |
| Total functional expenses | $3,815,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $544 |
| Savings and temporary cash investments | $368,002 |
| Pledges and grants receivable | $116,348 |
| Accounts receivable, net | $82,699 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $217,372 |
| Prepaid expenses and deferred charges | $92,558 |
| Net Land, buildings, and equipment | $4,625,817 |
| Investments—publicly traded securities | $2,318,101 |
| Investments—other securities | $187,587 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $957,061 |
| Total assets | $8,966,089 |
| Accounts payable and accrued expenses | $192,583 |
| Grants payable | $0 |
| Deferred revenue | $54,373 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,764,016 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,010,972 |
| Net assets without donor restrictions | $5,838,770 |
| Net assets with donor restrictions | $116,347 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,966,089 |