Friends Academy

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Friends Academy Form 990, Revenue, CEO Pay, and IRS Filing Signals

Friends Academy is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Friends Academy in one place.

Is Friends Academy Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Friends Academy shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Friends Academy directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Friends Academy

Friends Academy (EIN: 111633485) is a nonprofit organization based in Locust Valley, NY, classified under NTEE code B200. The organization reported total revenue of $40.1M and total assets of $125.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Friends Academy is a large nonprofit that has been operating for 92 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.3%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2024, Friends Academy reported a deficit of $2.4M with expenses exceeding revenue, holds 36.9 months of operating reserves (strong position), has a debt-to-asset ratio of 15.6% (very low leverage).

Financial Trends

Over 14 years of filings (2011–2024), Friends Academy's revenue has grown at a compound annual growth rate (CAGR) of 2.3%.

IRS Tax-Exempt Classification

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 Friends Academy 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, Friends Academy 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 (2024)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $2.4M, with expenses exceeding revenue.
• Debt-to-asset ratio: 15.6%.

Executive Compensation Analysis

Friends Academy consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization with annual revenues exceeding $30 million. This suggests either a unique compensation structure where executives are not classified as 'officers' for reporting purposes, or a significant reliance on volunteer leadership at the highest levels, indicating a strong commitment to mission-focused spending.

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 Friends Academy's IRS 990 filings:

• Unclear executive compensation structure given 0% reported officer compensation for an organization of this size.

Strengths

The following positive indicators were identified for Friends Academy:

• Consistent asset growth over the past decade, indicating strong financial management.
• Substantial and growing asset base ($125,122,795) provides financial stability.
• Consistent reporting of 0% officer compensation, suggesting a strong commitment to mission-focused spending or unique compensation practices.
• Generally stable revenue and expense management over the long term.

Frequently Asked Questions about Friends Academy

Filing History

IRS 990 filing history for Friends Academy showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Friends Academy's revenue has grown by 34.1%, moving from $26.6M to $35.6M. Total assets increased by 42.7% over the same period, from $81.9M to $116.9M. Total functional expenses rose by 48.5%, from $25.6M to $38.0M. In its most recent filing year (2024), Friends Academy reported a deficit of $2.4M, with expenses exceeding revenue. The organization holds $18.2M in liabilities against $116.9M in assets (debt-to-asset ratio: 15.6%), resulting in net assets of $98.7M.

Year-by-Year Financial Summary

• 2024: Revenue of $35.6M, expenses of $38.0M, and assets of $116.9M (revenue +5.7% year-over-year).
• 2023: Revenue of $33.7M, expenses of $36.3M, and assets of $110.5M (revenue +0.2% year-over-year).
• 2022: Revenue of $33.6M, expenses of $33.3M, and assets of $107.0M (revenue +10.6% year-over-year).
• 2021: Revenue of $30.4M, expenses of $38.9M, and assets of $117.9M (revenue -3.4% year-over-year).
• 2020: Revenue of $31.5M, expenses of $30.4M, and assets of $109.7M (revenue -1.6% year-over-year).
• 2019: Revenue of $32.0M, expenses of $31.9M, and assets of $108.7M (revenue +2.1% year-over-year).
• 2018: Revenue of $31.3M, expenses of $30.3M, and assets of $106.6M (revenue +0.1% year-over-year).
• 2017: Revenue of $31.3M, expenses of $30.6M, and assets of $101.9M (revenue +4.8% year-over-year).
• 2016: Revenue of $29.8M, expenses of $29.7M, and assets of $92.3M (revenue +1.1% year-over-year).
• 2015: Revenue of $29.5M, expenses of $28.8M, and assets of $93.0M (revenue +1.8% year-over-year).
• 2014: Revenue of $29.0M, expenses of $28.4M, and assets of $92.2M (revenue +4.3% year-over-year).
• 2013: Revenue of $27.8M, expenses of $27.2M, and assets of $86.6M (revenue +4.1% year-over-year).
• 2012: Revenue of $26.7M, expenses of $26.8M, and assets of $81.6M (revenue +0.5% year-over-year).
• 2011: Revenue of $26.6M, expenses of $25.6M, and assets of $81.9M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Friends Academy:

Data Sources and Methodology

This transparency report for Friends Academy 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.