Friends For Life Corporation
- Assets
- $7.3m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 83
- Location
- Memphis, TN
- Founding
- 05/1993
- Data as of
- 06/2022
- EIN
- 62-1511959
Organization Overview
Friends For Life Corporation is located in Memphis, TN. The organization was established in 1993. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. As of 06/2022, Friends For Life Corporation employed 83 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends For Life Corporation 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 06/2022, Friends For Life Corporation generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $7.6m during the year ending 06/2022. While expenses have increased by 8.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL(CHARITABLE)SERVICES TO FAMILIES AFFECTED BY HIV/AIDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DIRECT HOUSING ASSISTANCE TO PERSONS/FAMILIES LIVING WITH HIV/AIDS. HUNDREDS OF INDIVIDUALS AND FAMILIES HAVE BENEFITED FROM THESE PROGRAMS SINCE THE ORGANIZATION'S INCEPTION.
THE ORGANIZATION DISSEMINATES "FOOD BASKETS" WEEKLY THROUGHOUT THE YEAR TO INDIVIDUALS AND FAMILIES WHO ARE AFFECTED BY HIV/AIDS. VOLUNTEERS ARE RECRUITED TO PARTICIPATE IN THIS EFFORT WHICH IS VITAL TO THE PROGRAMS SUCCESS. THIS PROGRAM HAS EVOLVED INTO A PROGRAM THAT IS VITAL TO THE COMMUNITY WHERE NUTRITIONAL NEEDS ARE A SERIOUS CONCERN. HUNDREDS OF INDIVIDUALS AND FAMILIES BENEFIT FROM THIS SUPPORT EFFORT.
MAINTAIN A STAFF OF CASE MANAGERS AND OTHER SUPPORT PERSONNEL WHO ASSESS THE NEEDS OF THE LOCAL POPULATION THAT IS AFFECTED BY HIV/AIDS. STAFF MEMBERS ALSO COORDINATE OTHER RESOURCES AND ASSIST TARGETED POPULATION WITH ENGAGING THESE RESOURCES IN ORDER TO ENHANCE AND IMPROVE THEIR QUALITY OF LIFE. HUNDREDS OF INDIVIDUALS AND FAMILIES HAVE BENEFITED FROM THIS PROGRAM.
DISSEMINATE EDUCATIONAL MATERIALS TO THE PUBLIC IN A EFFORT TO ENLIGHTEN THE MASSES ON THE DANGERS OF AIDS AND TO ACQUAINT THE PUBLIC WITH PROVEN MEASURES FOR THE PREVENTION OF HIV/AIDS. THIS EFFORT HAS THE POTENTIAL OF REACHING THOUSANDS OF PEOPLE THOUGHOUT THE MAJOR MEMPHIS, TN METROPOLITAN AREA. PROGRAMS INCLUDE BOTH PREVENTION AND EDUCATIONAL ACTIVITIES COORDINATED THOUGH A SERIES OF HIGHLY SPECIALIZED PROGRAMS SUCH AS WELLNESS UNIVERSITY, THE POSITIVE LIVING CENTER, AND OTHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Mcgee Chair | OfficerTrustee | 1 | $0 |
Kevin Spragling Chair Emeritus | OfficerTrustee | 1 | $0 |
Peter Brennen Reynolds Vice Chair | OfficerTrustee | 1 | $0 |
Mark Hickey Treasurer | OfficerTrustee | 1 | $0 |
Erskine Gillespie Secretary | OfficerTrustee | 1 | $0 |
Drshawn Hayden Medical Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,233,446 |
| All other contributions, gifts, grants, and similar amounts not included above | $467,356 |
| Noncash contributions included in lines 1a–1f | $11,300 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,700,802 |
| Total Program Service Revenue | $1,922,283 |
| Investment income | $1,316 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $49,725 |
| Net Gain/Loss on Asset Sales | $119,325 |
| Net Income from Fundraising Events | $39,538 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,061,223 |
| 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. | $341,089 |
| Compensation of current officers, directors, key employees. | $60,792 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,705,995 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $537,303 |
| Payroll taxes | $183,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $448,704 |
| Advertising and promotion | $21,064 |
| Office expenses | $177,344 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $515,380 |
| Travel | $9,669 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140,611 |
| Insurance | $0 |
| All other expenses | $85,370 |
| Total functional expenses | $7,648,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,425,775 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,869,731 |
| Accounts receivable, net | $157,009 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,355,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $491,222 |
| Total assets | $7,299,402 |
| Accounts payable and accrued expenses | $633,075 |
| 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 | $2,952,775 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,585,850 |
| Net assets without donor restrictions | $3,486,065 |
| Net assets with donor restrictions | $227,487 |
| 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 | $7,299,402 |