Is The Friends Of The Holderness Free Library Legit?
Quick charity verification for The Friends Of The Holderness Free Library (EIN: 110043071)
Verdict: The Friends Of The Holderness Free Library appears trustworthy
88/100Mission Score
$62KRevenue
$355KAssets
1Red Flags
3Strengths
Red Flags
Significant asset decrease between 2021 and 2022 without clear explanation in summary data.
Strengths
Consistent 0% officer compensation, indicating volunteer leadership and efficient use of funds.
Generally stable financial position with assets exceeding liabilities in most periods.
Positive net income in most recent filing (2023: Revenue $29,371, Expenses $25,508).
Spending Breakdown
How The Friends Of The Holderness Free Library 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 The Friends Of The Holderness Free Library
Is The Friends Of The Holderness Free Library a legitimate charity?
Based on AI analysis of IRS 990 filings, The Friends Of The Holderness Free Library (EIN: 110043071) appears trustworthy. Mission Score: 88/100. 1 red flag identified, 3 strengths noted.
Is The Friends Of The Holderness Free Library a good charity to donate to?
The Friends Of The Holderness Free Library has a Mission Score of 88/100. Revenue: $62K. Assets: $355K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Friends Of The Holderness Free Library?
The Employer Identification Number (EIN) for The Friends Of The Holderness Free Library is 110043071. 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 The Friends Of The Holderness Free Library spend its money?
The Friends Of The Holderness Free Library allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify The Friends Of The Holderness Free Library's tax-exempt status?
You can verify The Friends Of The Holderness Free Library's tax-exempt status using EIN 110043071 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
The Friends Of The Holderness Free Library demonstrates consistent financial activity supporting its mission, with recent revenues fluctuating but generally covering expenses. In 2023, the organization reported revenues of $29,371 against expenses of $25,508, indicating a small surplus. The organization's assets have shown growth over time, reaching $354,444 in 2023, suggesting a stable financial foundation. However, there was a notable decrease in assets from $456,916 in 2021 to $317,127 in 2022, which warrants further investigation to understand the underlying reasons. The organization consistently reports 0% officer compensation, which is a positive indicator of volunteer-driven leadership and efficient use of funds for its stated purpose. The absence of significant liabilities across most years also points to sound financial management.