Community Furniture Bank Inc
Community Furniture Bank Inc maintains stable finances with no reported officer compensation.
EIN: 202071201 · Birmingham, AL · NTEE: P60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $601K |
| Total Expenses | $597K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $600,000. |
| Net Assets | $626K |
| Transparency Score | 90/100 |
Is Community Furniture Bank Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Community Furniture Bank Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Community Furniture Bank Inc
Community Furniture Bank Inc (EIN: 202071201) is a nonprofit organization based in Birmingham, AL, classified under NTEE code P60. The organization reported total revenue of $601K and total assets of $666K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Community Furniture Bank Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Community Furniture Bank Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $600K |
| Total Expenses | $597K |
| Surplus / Deficit | +$3K |
| Total Assets | $627K |
| Total Liabilities | $364 |
| Net Assets | $626K |
| Operating Margin | 0.5% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 12.6 months |
Financial Health Grade: A
In 2023, Community Furniture Bank Inc reported a surplus of $3K with revenue exceeding expenses, holds 12.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Community Furniture Bank Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.9% | -8.2% | -0.5% |
| 2022 | +5.5% | +24.2% | -6.1% |
| 2021 | -5.4% | +4.6% | +3.5% |
| 2020 | +22.6% | -11.2% | +35.6% |
| 2019 | -14.8% | -4.7% | -9.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Community Furniture Bank Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Community Furniture Bank Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $3K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is highly commendable for an organization of its size with annual revenues around $600,000.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Community Furniture Bank Inc:
- Consistent 0% officer compensation across all filings, indicating high dedication to mission.
- Stable financial performance with revenues generally covering expenses over the long term.
- Healthy asset base ($665,583) relative to annual revenue, showing financial stability.
- Low liabilities in most periods, demonstrating responsible financial management.
- Consistent operation for over a decade with 13 filings, indicating organizational longevity.
Frequently Asked Questions about Community Furniture Bank Inc
Is Community Furniture Bank Inc a legitimate charity?
Community Furniture Bank Inc (EIN: 202071201) is a registered tax-exempt nonprofit based in Alabama. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $601K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Community Furniture Bank Inc spend its money?
Community Furniture Bank Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Community Furniture Bank Inc tax-deductible?
Community Furniture Bank Inc is registered as a tax-exempt nonprofit (EIN: 202071201). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Community Furniture Bank Inc CEO make?
Community Furniture Bank Inc's highest-compensated officer earns $600,000. annually. The organization reported $601K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Community Furniture Bank Inc's spending goes to programs?
Community Furniture Bank Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Community Furniture Bank Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Community Furniture Bank Inc is above average for NTEE category P60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Community Furniture Bank Inc located?
Community Furniture Bank Inc is headquartered in Birmingham, Alabama and files with the IRS under EIN 202071201. It is classified under NTEE code P60.
How many years of IRS 990 filings does Community Furniture Bank Inc have?
Community Furniture Bank Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $601K in total revenue.
How does Community Furniture Bank Inc manage to operate without officer compensation?
The consistent 0% officer compensation across all filings suggests that leadership may be entirely volunteer-based or compensated through other means not classified as officer compensation on the 990, which is a significant indicator of dedication to the mission.
What is the primary source of revenue for Community Furniture Bank Inc?
While the provided data only shows total revenue, for a furniture bank, common revenue sources include donations of furniture, cash contributions, grants, and potentially sales of donated items. Further detail would require examining the full 990 forms.
Has the organization experienced significant financial fluctuations?
The organization's revenue and expenses have remained relatively stable over the past decade, generally staying within a range of $489,978 to $632,021 for revenue and $434,529 to $650,143 for expenses, indicating consistent operations.
Filing History
IRS 990 filing history for Community Furniture Bank Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Community Furniture Bank Inc's revenue has grown by 17.3%, moving from $512K to $600K. Total assets increased by 84.5% over the same period, from $340K to $627K. Total functional expenses rose by 39.8%, from $427K to $597K. In its most recent filing year (2023), Community Furniture Bank Inc reported a surplus of $3K, with revenue exceeding expenses. The organization holds $364 in liabilities against $627K in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $626K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $600K | $597K | $627K | $364 | — | — |
| 2022 | $631K | $650K | $630K | $2K | — | — |
| 2021 | $598K | $523K | $671K | $428 | — | View 990 |
| 2020 | $632K | $500K | $648K | $42K | — | — |
| 2019 | $515K | $563K | $478K | $1K | — | View 990 |
| 2018 | $605K | $591K | $525K | $416 | — | View 990 |
| 2017 | $538K | $532K | $512K | $538 | — | View 990 |
| 2016 | $559K | $518K | $506K | $296 | — | View 990 |
| 2015 | $547K | $485K | $465K | $343 | — | View 990 |
| 2014 | $490K | $435K | $411K | $7K | — | View 990 |
| 2013 | $444K | $449K | $353K | $5K | — | View 990 |
| 2012 | $463K | $444K | $359K | $5K | — | View 990 |
| 2011 | $512K | $427K | $340K | $5K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $600K, expenses of $597K, and assets of $627K (revenue -4.9% year-over-year).
- 2022: Revenue of $631K, expenses of $650K, and assets of $630K (revenue +5.5% year-over-year).
- 2021: Revenue of $598K, expenses of $523K, and assets of $671K (revenue -5.4% year-over-year).
- 2020: Revenue of $632K, expenses of $500K, and assets of $648K (revenue +22.6% year-over-year).
- 2019: Revenue of $515K, expenses of $563K, and assets of $478K (revenue -14.8% year-over-year).
- 2018: Revenue of $605K, expenses of $591K, and assets of $525K (revenue +12.4% year-over-year).
- 2017: Revenue of $538K, expenses of $532K, and assets of $512K (revenue -3.7% year-over-year).
- 2016: Revenue of $559K, expenses of $518K, and assets of $506K (revenue +2.2% year-over-year).
- 2015: Revenue of $547K, expenses of $485K, and assets of $465K (revenue +11.6% year-over-year).
- 2014: Revenue of $490K, expenses of $435K, and assets of $411K (revenue +10.5% year-over-year).
- 2013: Revenue of $444K, expenses of $449K, and assets of $353K (revenue -4.3% year-over-year).
- 2012: Revenue of $463K, expenses of $444K, and assets of $359K (revenue -9.4% year-over-year).
- 2011: Revenue of $512K, expenses of $427K, and assets of $340K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Community Furniture Bank Inc:
Data Sources and Methodology
This transparency report for Community Furniture Bank Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.