Friends Of Dresden Music Foundation
Friends Of Dresden Music Foundation shows fluctuating revenue but consistent asset base, with recent expenses exceeding income.
EIN: 10623734 · Newport, RI · NTEE: A12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $56K |
| Total Expenses | $91K |
| Program Spending | 80% |
| Net Assets | $73K |
| Transparency Score | 85/100 |
Is Friends Of Dresden Music Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of Dresden Music Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of Dresden Music Foundation
Friends Of Dresden Music Foundation (EIN: 10623734) is a nonprofit organization based in Newport, RI, classified under NTEE code A12. The organization reported total revenue of $56K and total assets of $87K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Dresden Music Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Dresden Music Foundation is a micro nonprofit that has been operating for 24 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $55K |
| Total Expenses | $91K |
| Surplus / Deficit | $-35,922 |
| Total Assets | $73K |
| Net Assets | $73K |
| Operating Margin | -65.6% |
| Months of Reserves | 9.7 months |
Financial Health Grade: B
In 2023, Friends Of Dresden Music Foundation reported a deficit of $36K with expenses exceeding revenue, holds 9.7 months of operating reserves (strong position).
Financial Trends
Over 9 years of filings (2011–2023), Friends Of Dresden Music Foundation's revenue has grown at a compound annual growth rate (CAGR) of 13.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -37.5% | +100.7% | -33.0% |
| 2022 | +59.0% | +16.9% | +63.9% |
| 2021 | +268.2% | -11.5% | +32.9% |
| 2020 | -79.7% | +32.5% | -36.5% |
| 2019 | +81.0% | -41.3% | +33.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Of Dresden Music Foundation with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Friends Of Dresden Music Foundation 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $36K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is likely volunteer-based or compensated through non-officer categories, which is highly favorable for donor confidence and efficient use of funds.
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 Of Dresden Music Foundation's IRS 990 filings:
- Expenses ($90,687 in 202312) significantly exceeded revenue ($54,765 in 202312), leading to a decrease in assets from the prior year.
Strengths
The following positive indicators were identified for Friends Of Dresden Music Foundation:
- Consistent reporting of 0% officer compensation across all filings, indicating efficient use of funds.
- Zero reported liabilities across all nine filings, demonstrating strong financial management and low debt risk.
- Maintained a healthy asset base relative to its size, with current assets at $87,170.
- Clear alignment between NTEE code (Orchestras & Classical Music) and organizational name, suggesting a focused mission.
Frequently Asked Questions about Friends Of Dresden Music Foundation
Is Friends Of Dresden Music Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of Dresden Music Foundation (EIN: 10623734) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Friends Of Dresden Music Foundation spend its money?
Friends Of Dresden Music Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Of Dresden Music Foundation tax-deductible?
Friends Of Dresden Music Foundation is registered as a tax-exempt nonprofit (EIN: 10623734). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Friends Of Dresden Music Foundation's spending goes to programs?
Friends Of Dresden Music Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of Dresden Music Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Friends Of Dresden Music Foundation is above average for NTEE category A12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of Dresden Music Foundation located?
Friends Of Dresden Music Foundation is headquartered in Newport, Rhode Island and files with the IRS under EIN 10623734. It is classified under NTEE code A12.
How many years of IRS 990 filings does Friends Of Dresden Music Foundation have?
Friends Of Dresden Music Foundation has 9 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 $56K in total revenue.
Is Friends Of Dresden Music Foundation financially stable?
The organization has maintained a healthy asset base ($87,170 currently) and zero liabilities across all filings, indicating good financial management. However, the 202312 filing shows expenses ($90,687) significantly exceeding revenue ($54,765), which could impact future stability if this trend continues.
How does the organization manage executive compensation?
All available IRS 990 filings consistently report 0% officer compensation, suggesting a volunteer-led executive team or compensation structured in a way that doesn't fall under 'officer compensation,' which is a strong positive for efficiency.
What is the trend in the organization's revenue?
Revenue has fluctuated significantly, from a low of $12,435 in 2011 to a high of $99,693 in 2015. The latest reported revenue is $55,725, which is lower than some previous years but higher than others.
Filing History
IRS 990 filing history for Friends Of Dresden Music Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Friends Of Dresden Music Foundation's revenue has grown by 340.4%, moving from $12K to $55K. Total assets increased by 71% over the same period, from $43K to $73K. Total functional expenses rose by 7911.2%, from $1K to $91K. In its most recent filing year (2023), Friends Of Dresden Music Foundation reported a deficit of $36K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $55K | $91K | $73K | $0 | — | View 990 |
| 2022 | $88K | $45K | $109K | $0 | — | View 990 |
| 2021 | $55K | $39K | $66K | $0 | — | — |
| 2020 | $15K | $44K | $50K | $0 | — | View 990 |
| 2019 | $74K | $33K | $79K | $0 | — | View 990 |
| 2016 | $41K | $56K | $59K | $0 | — | View 990 |
| 2015 | $100K | $87K | $74K | $0 | — | View 990 |
| 2014 | $34K | $22K | $61K | $0 | — | View 990 |
| 2011 | $12K | $1K | $43K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $55K, expenses of $91K, and assets of $73K (revenue -37.5% year-over-year).
- 2022: Revenue of $88K, expenses of $45K, and assets of $109K (revenue +59.0% year-over-year).
- 2021: Revenue of $55K, expenses of $39K, and assets of $66K (revenue +268.2% year-over-year).
- 2020: Revenue of $15K, expenses of $44K, and assets of $50K (revenue -79.7% year-over-year).
- 2019: Revenue of $74K, expenses of $33K, and assets of $79K (revenue +81.0% year-over-year).
- 2016: Revenue of $41K, expenses of $56K, and assets of $59K (revenue -59.2% year-over-year).
- 2015: Revenue of $100K, expenses of $87K, and assets of $74K (revenue +191.8% year-over-year).
- 2014: Revenue of $34K, expenses of $22K, and assets of $61K (revenue +174.7% year-over-year).
- 2011: Revenue of $12K, expenses of $1K, and assets of $43K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Dresden Music Foundation:
Data Sources and Methodology
This transparency report for Friends Of Dresden Music Foundation 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.