Quick charity verification for Friend Memorial Public Library Inc (EIN: 10224532)
Verdict: Friend Memorial Public Library Inc appears trustworthy
90/100Mission Score
$1.7MRevenue
$4.7MAssets
0Red Flags
4Strengths
No red flags identified.
Strengths
Consistent asset growth, from $1.87M in 2014 to $3.24M in 2023.
Zero officer compensation reported across all filings, indicating strong financial stewardship.
Low liabilities relative to assets, suggesting sound financial management.
Expenses generally well-controlled and often significantly lower than revenue, indicating efficiency.
Spending Breakdown
How Friend Memorial Public Library Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Friend Memorial Public Library Inc
Is Friend Memorial Public Library Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Friend Memorial Public Library Inc (EIN: 10224532) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
Is Friend Memorial Public Library Inc a good charity to donate to?
Friend Memorial Public Library Inc has a Mission Score of 90/100. Revenue: $1.7M. Assets: $4.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Friend Memorial Public Library Inc?
The Employer Identification Number (EIN) for Friend Memorial Public Library Inc is 10224532. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Friend Memorial Public Library Inc spend its money?
Friend Memorial Public Library Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Friend Memorial Public Library Inc's tax-exempt status?
You can verify Friend Memorial Public Library Inc's tax-exempt status using EIN 10224532 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Friend Memorial Public Library Inc demonstrates a generally healthy financial position with consistent asset growth over the past decade, reaching $3,244,735 in 2023. The organization's revenue has fluctuated significantly, with a notable peak of $433,136 in 2023 and $453,111 in 2015, indicating reliance on varied funding sources or successful fundraising campaigns in certain years. Expenses have remained relatively stable and low compared to revenue in most years, suggesting efficient operations. The organization consistently reports 0% officer compensation, which is a strong indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. The low liabilities across all reported periods also point to sound financial management.