Friends & Co

EIN: 410986200 501(c)(3) Human Services

St Paul, MN

Total Revenue
$662,611
Total Expenses
$1,076,268
Total Assets
$6,570,645
Net Assets
$6,331,531
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
MN
Principal Officer
Carolyn Trevis
Phone
6127460753
Tax Period
2024-07-01 to 2025-06-30

Friends & Co, founded in 1972, is a small nonprofit in the Human Services sector that reported $663K in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Expenses of $1.1M exceeded revenue, resulting in a 62% operating deficit.

Mission

Friends & Co. is a nonprofit, volunteer-based organization whose mission is to relieve isolation and loneliness among older adults while promoting independence and well-being. Friends & Co. identifies isolated older adults and creates the opportunity for life-affirming connections and companionship that support healthy aging.

Program Service Accomplishments

Program 1
Expenses: $835,266

Visiting Companions Pairs older adults with background-checked, trained volunteers for meaningful, in-person visits--typically one to two times per month. Participants decide together on visit...

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Visiting Companions Pairs older adults with background-checked, trained volunteers for meaningful, in-person visits--typically one to two times per month. Participants decide together on visit frequency, timing, and location. Phone Companions - Connects older adults with a background-checked volunteer for regular one-on-one phone conversations. Older adult and volunteer members collaborate to establish their preferred calling schedules, with most pairs chatting weekly. Coffee Talk A drop-in phone line offering older adults the opportunity to connect with caring volunteers for friendly, one-on-one conversations. When appropriate, Friends & Co provides information about more direct services and other social engagement opportunities. Cards Connect Engages volunteers and corporate partners across the United States to create handmade cards, which are sent quarterlyincluding fall, winter, spring, and Valentines Day. Lets Do Lunch Caf Provides a welcoming, affirming space for LGBTQ+ older adults to gather twice monthly for a no-cost lunch and social connection in Saint Paul and Minneapolis. Participants do not need to register or RSVPthey simply attend and enjoy community, conversation, meals, and guest speakers selected by an advisory committee of participants. Lets Do Coffee An extension of Lets Do Lunch, this program offers LGBTQ+ older adults additional opportunitiesfour times each monthto connect over coffee and conversation at no cost. Gatherings are held in partnership with the Queermunity Center in South Minneapolis, The Pillars of Minneapolis near the University of Minnesota, and Family Means in Stillwater. Caf y Conversaciones & Momentos Compartidos These in-person gatherings foster friendship and community for Spanish-speaking older adults. Caf y Conversaciones, offered in partnership with DARTS, in Dakota County, provides twice-monthly social activities for Spanish-speaking older adults in the East Metro. Conceived by participants in Friends & Cos Community Conversations, the program offers a welcoming environment with enriching activities and culturally specific snacks. Mementos Compartidos offers a similar experience for older adults in South Minneapolis, in partnership with Centre Tyrone Guzman.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $464,769
Program Service Revenue $0
Investment Income $197,319
Other Revenue $523
TOTAL REVENUE $662,611

Expense Breakdown

Grants Paid $0
Salaries & Benefits $712,297
Fundraising Expenses $174,637
Program Expenses $835,266
Other Expenses $363,971
TOTAL EXPENSES $1,076,268

Year-over-Year Comparison

2024 2023 Change
Revenue $662,611 $707,677 -0.1%
Expenses $1,076,268 $1,051,130 +0.0%
Net Income $-413,657 $-343,453 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
8
Independent Members
7
Employees
12
Volunteers
764

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$119,174
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
James Falvey Executive Dir. 40.00
Officer
$115,649 $3,525 $119,174
Hailey Bailey President 1.00
Officer Director
$0 $0 $0
Dominic Korbel Vice President 1.00
Officer Director
$0 $0 $0
Heather Britt MPH PhD Secretary 1.00
Officer Director
$0 $0 $0
Larry Fasching Treasurer 1.00
Officer Director
$0 $0 $0
Cristina Cauble Director 1.00
Director
$0 $0 $0
Norm Morris Director 1.00
Director
$0 $0 $0
Danielle Salisbury Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $662,611 $1,076,268 $6,570,645 $-413,657
2023 $560,872 $956,791 $6,597,805 $-395,919
2022 $5,888,849 $990,737 $6,636,949 $4,898,112
2021 $1,281,145 $899,761 $1,878,658 $381,384
2020 $707,409 $728,454 $1,425,654 $-21,045
2019 $775,545 $723,067 $1,333,908 $52,478
2018 $842,864 $678,514 $1,271,183 $164,350
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