Friendship Homes Inc
- Assets
- $287.2k
- Revenue
- $263.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Morgantown, WV
- Founding
- 06/1964
- Data as of
- 09/2021
- EIN
- 55-6023566
Organization Overview
Friendship Homes Inc is located in Morgantown, WV. The organization was established in 1964. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 09/2021, Friendship Homes Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Homes 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 09/2021, Friendship Homes Inc generated $263.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $294.1k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDSHIP HOMES OPERATES A 49 UNIT NON-PROFIT APARTMENT COMPLEX FOR INDEPENDENT SENIORS OF MODERATE MEANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDSHIP HOMES, INC. OPERATES A 49 UNIT APARTMENT COMPLEX FOR ELDERLY AND/OR DISABLED INDIVIDUALS. ALL EXPENSES ARE ATTRIBUTED TO THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Alexander Vice Preside | OfficerTrustee | $0 | |
Joyce Troshak Treasurer | OfficerTrustee | 40 | $0 |
Jacques Williams President | OfficerTrustee | $0 | |
Pam Yagle Secretary | OfficerTrustee | $0 | |
Robert Joseph Director | Trustee | $0 | |
Karl Yagle Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $261,847 |
| Investment income | $886 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $308 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $263,041 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $81,047 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,705 |
| Fees for services: Management | $11,712 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $116,274 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,300 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,163 |
| Insurance | $24,350 |
| All other expenses | $0 |
| Total functional expenses | $294,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,994 |
| Savings and temporary cash investments | $152,846 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,319 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,535 |
| Prepaid expenses and deferred charges | $3,476 |
| Net Land, buildings, and equipment | $125,050 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $287,220 |
| Accounts payable and accrued expenses | $18,672 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $38,389 |
| Other liabilities | $215,572 |
| Total liabilities | $272,633 |
| Net assets without donor restrictions | $14,587 |
| Net assets with donor restrictions | $0 |
| 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 | $287,220 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Church Homes Inc Marion, OH | $230,951,491 | $117,776,158 |
Goodwin House Incorporated Alexandria, VA | $441,770,291 | $109,508,883 |
Menorah Park Center For Senior Living Beachwood, OH | $96,877,128 | $72,312,185 |
Spiritrust Lutheran York, PA | $151,346,375 | $71,838,005 |
Otterbein Homes Lebanon, OH | $197,247,651 | $73,479,652 |
Humangood Pennsylvania Lafayette Hill, PA | $322,351,436 | $66,729,303 |
Westminster-Canterbury Corporation Richmond, VA | $326,286,753 | $77,739,552 |
Virginia United Methodist Homes Inc Glen Allen, VA | $253,887,875 | $70,234,834 |
Albright Care Services Frederick, MD | $96,340,327 | $64,491,895 |
Westminster-Canterbury On Chesapeake Bay Virginia Beach, VA | $226,856,514 | $70,077,492 |
Menno-Haven Inc Chambersburg, PA | $224,712,119 | $60,604,024 |
Kendal-Crosslands Communities Kennett Square, PA | $254,475,918 | $64,274,930 |