French American Museum Exchange Inc
French American Museum Exchange Inc reports consistent revenue but recent operating deficits, maintaining 0% officer compensation.
EIN: 204343950 · Essex, CT · NTEE: A20 · Updated: 2026-03-28
Is French American Museum Exchange Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
French American Museum Exchange Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About French American Museum Exchange Inc
French American Museum Exchange Inc (EIN: 204343950) is a nonprofit organization based in Essex, CT, classified under NTEE code A20. The organization reported total revenue of $403K and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of French American Museum Exchange Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates French American Museum Exchange Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, French American Museum Exchange Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is highly unusual for an organization with over $400,000 in annual revenue.
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.
Red Flags
The following concerns were identified during AI analysis of French American Museum Exchange Inc's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., $91,481 in 2023, $60,288 in 2022)
- Increasing liabilities, reaching $325,796 in 2023, which is a significant increase from previous years (e.g., $9,323 in 2019)
- Unusually high and consistent 0% officer compensation for an organization with over $400,000 in annual revenue, which may warrant further inquiry into how leadership is supported or compensated.
Strengths
The following positive indicators were identified for French American Museum Exchange Inc:
- Consistent reporting of 0% officer compensation, indicating a potentially volunteer-driven leadership or highly efficient use of funds.
- Steady growth in assets over the long term, demonstrating financial stability and resource accumulation.
- Long filing history (13 filings), suggesting consistent operation and compliance.
Frequently Asked Questions about French American Museum Exchange Inc
Is French American Museum Exchange Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, French American Museum Exchange Inc (EIN: 204343950) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does French American Museum Exchange Inc spend its money?
French American Museum Exchange Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to French American Museum Exchange Inc tax-deductible?
French American Museum Exchange Inc is registered as a tax-exempt nonprofit (EIN: 204343950). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is French American Museum Exchange Inc a good charity?
FAME exhibits strengths in its consistent mission focus and 0% officer compensation, suggesting a strong commitment to its cause. However, recent operating deficits and increasing liabilities warrant closer examination of its financial management and sustainability.
Why are expenses exceeding revenue in recent years?
In 2023, expenses were $565,800 against revenues of $474,319, resulting in a deficit of $91,481. Similarly, in 2022, expenses of $483,780 exceeded revenues of $423,492 by $60,288. The filings do not provide detailed explanations for these deficits, but they indicate that the organization is spending more than it is bringing in through its operations.
What is the trend in the organization's assets?
FAME's assets have generally grown over the past decade, from $1,496,140 in 2014 to a peak of $2,291,707 in 2021, before slightly decreasing to $2,084,403 in 2023. This indicates a healthy accumulation of resources over time, despite recent operational deficits.
How does the 0% officer compensation impact the organization?
The consistent 0% officer compensation suggests that the organization's top leadership is not drawing a salary from the organization, which can be viewed positively by donors as it implies more funds are directed towards the mission. However, it also raises questions about the sustainability of such a model for an organization of this size and the potential for hidden compensation or reliance on external support.
Filing History
IRS 990 filing history for French American Museum Exchange Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), French American Museum Exchange Inc's revenue has grown by 82%, moving from $261K to $474K. Total assets increased by 50.8% over the same period, from $1.4M to $2.1M. Total functional expenses fell by 16.8%, from $680K to $566K. In its most recent filing year (2023), French American Museum Exchange Inc reported a deficit of $91K, with expenses exceeding revenue. The organization holds $326K in liabilities against $2.1M in assets (debt-to-asset ratio: 15.6%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $474K | $566K | $2.1M | $326K | — | — |
| 2022 | $423K | $484K | $1.9M | $312K | — | View 990 |
| 2021 | $519K | $342K | $2.3M | $258K | — | View 990 |
| 2020 | $386K | $335K | $2.0M | $253K | — | — |
| 2019 | $412K | $401K | $1.8M | $9K | — | View 990 |
| 2018 | $348K | $357K | $1.6M | $16K | — | View 990 |
| 2017 | $371K | $254K | $1.7M | $38K | — | View 990 |
| 2016 | $243K | $269K | $1.5M | $11K | — | View 990 |
| 2015 | $207K | $241K | $1.4M | $13K | — | View 990 |
| 2014 | $221K | $239K | $1.5M | $20K | — | View 990 |
| 2013 | $242K | $591K | $1.5M | $11K | — | View 990 |
| 2012 | $898K | $579K | $1.9M | $16K | — | View 990 |
| 2011 | $261K | $680K | $1.4M | $32K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $474K, expenses of $566K, and assets of $2.1M (revenue +12.0% year-over-year).
- 2022: Revenue of $423K, expenses of $484K, and assets of $1.9M (revenue -18.4% year-over-year).
- 2021: Revenue of $519K, expenses of $342K, and assets of $2.3M (revenue +34.5% year-over-year).
- 2020: Revenue of $386K, expenses of $335K, and assets of $2.0M (revenue -6.3% year-over-year).
- 2019: Revenue of $412K, expenses of $401K, and assets of $1.8M (revenue +18.5% year-over-year).
- 2018: Revenue of $348K, expenses of $357K, and assets of $1.6M (revenue -6.3% year-over-year).
- 2017: Revenue of $371K, expenses of $254K, and assets of $1.7M (revenue +52.8% year-over-year).
- 2016: Revenue of $243K, expenses of $269K, and assets of $1.5M (revenue +17.1% year-over-year).
- 2015: Revenue of $207K, expenses of $241K, and assets of $1.4M (revenue -6.0% year-over-year).
- 2014: Revenue of $221K, expenses of $239K, and assets of $1.5M (revenue -8.9% year-over-year).
- 2013: Revenue of $242K, expenses of $591K, and assets of $1.5M (revenue -73.0% year-over-year).
- 2012: Revenue of $898K, expenses of $579K, and assets of $1.9M (revenue +244.7% year-over-year).
- 2011: Revenue of $261K, expenses of $680K, and assets of $1.4M.
Data Sources and Methodology
This transparency report for French American Museum Exchange 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.