Friends Academy
Friends Academy maintains strong asset growth and stable finances with no reported officer compensation.
EIN: 111633485 · Locust Valley, NY · NTEE: B200 · Updated: 2026-03-28
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 →
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.
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.
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
Is Friends Academy a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Academy (EIN: 111633485) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Friends Academy spend its money?
Friends Academy directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Academy tax-deductible?
Friends Academy is registered as a tax-exempt nonprofit (EIN: 111633485). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Friends Academy manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size. It suggests that executive leadership may be compensated through other categories not defined as 'officer compensation' on the 990, or that the top leadership roles are filled by volunteers. A deeper dive into their full compensation schedules would be necessary to understand this structure.
Is Friends Academy financially stable given some years with expenses exceeding revenue?
Yes, Friends Academy appears financially stable. While there are periods where expenses slightly exceed revenue (e.g., 202406 with a $2.36 million deficit), their substantial and growing asset base (from $93 million in 2015 to $125 million currently) provides a strong buffer and indicates long-term financial health. These minor deficits are likely managed through reserves or investment income.
What is the trend in Friends Academy's assets and liabilities?
Friends Academy has shown consistent asset growth, increasing from $93 million in 2015 to $125 million currently. Liabilities have fluctuated but generally remained manageable relative to assets, indicating a healthy balance sheet. For example, in 202406, liabilities were $18,235,245 against assets of $116,909,317.
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 | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $35.6M | $38.0M | $116.9M | $18.2M | — | View 990 |
| 2023 | $33.7M | $36.3M | $110.5M | $16.4M | — | View 990 |
| 2022 | $33.6M | $33.3M | $107.0M | $15.4M | — | View 990 |
| 2021 | $30.4M | $38.9M | $117.9M | $16.1M | — | View 990 |
| 2020 | $31.5M | $30.4M | $109.7M | $14.8M | — | View 990 |
| 2019 | $32.0M | $31.9M | $108.7M | $16.5M | — | View 990 |
| 2018 | $31.3M | $30.3M | $106.6M | $20.6M | — | View 990 |
| 2017 | $31.3M | $30.6M | $101.9M | $31.3M | — | View 990 |
| 2016 | $29.8M | $29.7M | $92.3M | $29.4M | — | View 990 |
| 2015 | $29.5M | $28.8M | $93.0M | $23.9M | — | View 990 |
| 2014 | $29.0M | $28.4M | $92.2M | $24.3M | — | View 990 |
| 2013 | $27.8M | $27.2M | $86.6M | $23.1M | — | View 990 |
| 2012 | $26.7M | $26.8M | $81.6M | $24.8M | — | View 990 |
| 2011 | $26.6M | $25.6M | $81.9M | $21.9M | — | View 990 |
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.
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.