Friendship Foundation
- Assets
- $6.7m
- Revenue
- $1.1m
- Investments
- $222.6k
- Employees
- 2
- Location
- Roanoke, VA
- Founding
- 02/1989
- Data as of
- 06/2022
- EIN
- 54-1427948
Organization Overview
Friendship Foundation is located in Roanoke, VA. The organization was established in 1989. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Friendship Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friendship Foundation 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, Friendship Foundation generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (20.7%) each year. All expenses for the organization totaled $131.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (33.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Friendship Foundation has awarded 18 individual grants totaling $112,580. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING FRIENDS BY PROVIDING PEACE OF MIND
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION COLLECTS GRANTS & CONTRIBUTIONS TO COVER ITS COSTS AND CONTRIBUTIONS TO DISTRIBUTE TO OTHER NONPROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glen C Combs Chairman | OfficerTrustee | 3.72 | $0 |
Edwin R Feinour Director | Trustee | 2.48 | $0 |
Edgar K Baker Director | Trustee | 2.11 | $0 |
Lucian Y Grove Jr Director | Trustee | 1.86 | $0 |
Cynda A Johnson Director | Trustee | 0.62 | $0 |
Robert C Lawson Vice-Chairman | OfficerTrustee | 2.48 | $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 | $119,808 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $119,808 |
| Total Program Service Revenue | $0 |
| Investment income | $128,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$559 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,148,082 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
| Grants and other assistance to domestic individuals. | $22,621 |
| 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 | $51,033 |
| Pension plan accruals and contributions | $1,453 |
| Other employee benefits | $12,243 |
| Payroll taxes | $3,205 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,169 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25 |
| Office expenses | $312 |
| Information technology | $5,010 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,865 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $131,150 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,830,899 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,564 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,068,176 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $449,034 |
| Net Land, buildings, and equipment | $92,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $222,567 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,682,176 |
| Accounts payable and accrued expenses | $88,095 |
| 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 | $0 |
| Other liabilities | $3,644,141 |
| Total liabilities | $3,732,236 |
| Net assets without donor restrictions | $2,949,940 |
| 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 | $6,682,176 |
Grants Awarded
Over the last fiscal year, Friendship Foundation has awarded $112,580 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
FRIENDSHIP HEALTH AND REHAB CENTER INC PURPOSE: CONTRIBUTION FOR EMERGENCY ASSISTANCE FUND AND FUNDRAISING POOL | $5,000 |
YMCA OF VIRGINIA'S BLUE RIDGE PURPOSE: CONTRIBUTION FOR PARTNER IN HEALTH PROGRAM | $5,000 |
VIRGINIA TECH CARILION SCHOOL OF MEDICINE INC PURPOSE: CONTRIBUTION FOR RESEARCH COORDINATOR SUPPORT | $5,000 |
THE RESCUE MISSION OF ROANOKE PURPOSE: CONTRIBUTION FOR ENDOWMENT FUND | $10,000 |
AMERICAN HEART ASSOCIATION INC PURPOSE: CONTRIBUTION FOR GENERAL SUPPORT | $7,500 |
AMERICAN CANCER SOCIETY PURPOSE: CONTRIBUTION FOR GENERAL SUPPORT | $6,000 |