Friends of Faith Retirement Homes Inc
600 Park Lane, Waterloo, IA · IRS data through FY2026
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2026 | $26,301,801 | $31,055,500 | -$8,881,328 |
| FY2025 | $26,620,572 | $29,121,285 | -$3,007,897 |
| FY2024 | $26,167,260 | $28,508,222 | -$507,184 |
| FY2023 | $30,283,903 | $29,928,108 | $1,833,778 |
| FY2021 | $24,765,907 | $18,470,387 | $4,382,690 |
| FY2020 | $20,614,806 | $26,839,502 | -$1,912,830 |
| FY2019 | $20,029,034 | $17,917,290 | $3,652,863 |
| FY2018 | $17,854,774 | $17,109,300 | $1,541,119 |
| FY2017 | $17,172,320 | $17,327,334 | $951,919 |
| FY2016 | $16,591,465 | $17,274,830 | $1,144,444 |
| FY2015 | $16,458,686 | $18,485,489 | $1,858,661 |
| FY2014 | $16,541,083 | $16,250,815 | $3,943,496 |
| FY2013 | $16,982,638 | $14,007,248 | $3,689,599 |
| FY2012 | $13,636,696 | $14,305,627 | $714,590 |
Form 990 filings
The returns filed by Friends of Faith Retirement Homes Inc (EIN 51-0245745), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $4,438,082 | 17% |
| Program service revenue | $21,738,991 | 83% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $27,257,407 | 88% |
| Management & general | $3,639,984 | 12% |
| Fundraising | $158,109 | 1% |
What the numbers show
- Program service revenue made up 83% of total revenue in FY2026.
- Program services accounted for 88% of functional expenses, management & general 12%, and fundraising 1%.
- 88% of functional expenses went to program services in FY2026. That is higher than 52.9% of 929 Housing & Shelter organizations nationwide (too few in IA for a state comparison).
- Net assets covered about -3.4 months of expenses at the end of the reporting year. That puts it in the 16th percentile among 171 Housing & Shelter organizations in IA.
- Total revenue was higher than 98.9% of 175 Housing & Shelter organizations in IA.
- Total revenue rose from $13,636,696 in FY2012 to $26,301,801 in FY2026. Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 8 of 14 reported years (FY2012, FY2015, FY2016, FY2017, FY2020, FY2024, FY2025, FY2026).
- The highest revenue on record here is $30,283,903 in FY2023.
- Net assets declined from $714,590 to -$8,881,328 between FY2012 and FY2026.
- Contributions and grants made up 8% of revenue in FY2012 and 17% in FY2026.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
LIFECARE FOR ADULTS 62 AND OVER.
IRS status
| Ruling year | 1968 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | L220 — Housing & Shelter |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Similar organizations
- Barton Creek Senior Living Center Inc — Wdm, IA · $32,506,276
- Western Home Services Inc — Cedar Falls, IA · $41,937,127
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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