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Friends & Co

EIN 41-0986200 · Saint Paul, MN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood73 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$662,611
Spending
$1.1 million
Spent on programs
78%
Reserves
61.5 months of spending
Largest source of income
donations and private grants, 70%
Employees
12
Volunteers
764
Highest pay
$119,174, executive dir.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 73 out of 100. Higher than 48% of charities in its peer group (human services, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 61.5 months of spending.

  • Debt

    20 of 20

    It owes 4% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 62% of income.

  • Income trend

    10 of 15

    Income fell 6% on the year before.

  • Spending floor

    8 of 15

    78% of spending went to programs and raising each dollar of donations cost 38 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 94% of charities in its peer group (human services, $250k to $1m).

  • Independent board

    25 of 25

    7 of 8 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $835,266 spent. 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.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2010.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.