Friends of the Third World

Legal name: Friends of the Third World Inc

Nonprofit profile at a glance

EIN
237183804
IRS 990 coverage
2020–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Fort Wayne, Indiana, USA
Phone
260-422-6821
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
International Development

Official website

Reported finances

Revenue
$229,062
Expenses
$227,959
Assets
$619,239
Liabilities
$40,091

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • JAMES F GOETSCH (PRESIDENT/ADMINISTRATIVE COORDINATOR)

Highest reported compensation

  • JAMES F GOETSCH (PRESIDENT/ADMINISTRATIVE COORDINATOR): $6,000 total reported compensation
  • TERRY DORAN (DIRECTOR/PROJECT COORDINATOR): $950 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Digging at the roots of poverty since 1972

What it reported doing in 2024

Technical assistance to low income adults who produce handicrafts or food. Marketing is conducted by dedicated volunteers or thru partnerships with other nongovernmental organizations using fair trade principles (see www.fairtradefederation.org) Artisans from 50 countries as well as 10 states, manage community based micro businesses, receiving marketing and management assistance. We assist in finding markets including those in nontraditional venues such as mission festivals. Family farmers in 12 countries, as well as Native American food producers in Georgia, Minnesota, South Dakota, and Colorado receive similar assistance in reaching nontraditional markets like religious congregations & community based organizations. A total of $21659 in purchases directly assisted these low-income producers. In addition, we are able to provide unemployed adults in Indiana with skills training in retail sales, bookkeeping &computer data entry. A total of 28,281 worth of volunteer labor was donated to this project. One part-time staff person managed this project. Two locations: Third Wo0rld Shoppe of Fort Wayne, Indiana, and Third World Handarts in Sierra Vista, Arizona host volunteer chapters. During 2023 - 2024 year Global Village in Peoria closed and a loss for inventory sold at less than cost was listed as depreciation.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 68
  • Accountability: 81
  • Sustainability: 46
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.8%; rating input score 97
  • Fundraising efficiency: $146.5 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Limited
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 83.2%; rating input score 83; 49th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.5%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 29th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 26th percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 4 operating locations identified
  • Where the money goes: 100% of revenue deployed · 96.8% of spending went to programs
  • Governance: 6 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $221K in reported program spending
  • Leadership: top reported pay $6K · 7 people listed
  • Consistency: 43 of 45 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.