Friends Of Literacy Inc
EIN: 581984690 · Knoxville, TN · NTEE: B92Z
| Metric | Value |
|---|---|
| Total Revenue | $247K |
| Total Expenses | $264K |
| Net Assets | $184K |
Is Friends Of Literacy Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Friends Of Literacy Inc
Friends Of Literacy Inc (EIN: 581984690) is a nonprofit organization based in Knoxville, TN, classified under NTEE code B92Z. The organization reported total revenue of $247K and total assets of $144K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Literacy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Literacy Inc is a small nonprofit that has been operating for 34 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $293K |
| Total Expenses | $264K |
| Surplus / Deficit | +$29K |
| Total Assets | $222K |
| Total Liabilities | $38K |
| Net Assets | $184K |
| Operating Margin | 10.0% |
| Debt-to-Asset Ratio | 17.1% |
| Months of Reserves | 10.1 months |
Financial Health Grade: A
In 2023, Friends Of Literacy Inc reported a surplus of $29K with revenue exceeding expenses, holds 10.1 months of operating reserves (strong position), has a debt-to-asset ratio of 17.1% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), Friends Of Literacy Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.0% | +6.0% | +4.6% |
| 2022 | -8.8% | +15.3% | -0.5% |
| 2021 | -11.3% | -14.1% | +26.7% |
| 2020 | +305.7% | +94.6% | +52.4% |
| 2019 | -72.8% | -46.8% | -37.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Friends Of Literacy Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Friends Of Literacy Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $29K, with revenue exceeding expenses.
- Debt-to-asset ratio: 17.1%.
Frequently Asked Questions about Friends Of Literacy Inc
Is Friends Of Literacy Inc a legitimate charity?
Friends Of Literacy Inc (EIN: 581984690) is a registered tax-exempt nonprofit based in Tennessee. It has 14 years of IRS 990 filings on record. Total revenue: $247K. No red flags identified. Financial health grade: A.
How does Friends Of Literacy Inc spend its money?
Friends Of Literacy Inc reported $247K in total revenue in IRS 990 filings. 14 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Friends Of Literacy Inc tax-deductible?
Friends Of Literacy Inc is registered as a tax-exempt nonprofit (EIN: 581984690). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Friends Of Literacy Inc located?
Friends Of Literacy Inc is headquartered in Knoxville, Tennessee and files with the IRS under EIN 581984690. It is classified under NTEE code B92Z.
How many years of IRS 990 filings does Friends Of Literacy Inc have?
Friends Of Literacy Inc has 14 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 $247K in total revenue.
Filing History
IRS 990 filing history for Friends Of Literacy Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Friends Of Literacy Inc's revenue has grown by 70.4%, moving from $172K to $293K. Total assets increased by 28.9% over the same period, from $172K to $222K. Total functional expenses rose by 64.2%, from $161K to $264K. In its most recent filing year (2023), Friends Of Literacy Inc reported a surplus of $29K, with revenue exceeding expenses. The organization holds $38K in liabilities against $222K in assets (debt-to-asset ratio: 17.1%), resulting in net assets of $184K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $293K | $264K | $222K | $38K | — | — |
| 2022 | $241K | $249K | $212K | $53K | — | View 990 |
| 2021 | $264K | $216K | $213K | $44K | — | View 990 |
| 2020 | $297K | $252K | $168K | $47K | — | — |
| 2019 | $73K | $129K | $110K | $35K | — | View 990 |
| 2019 | $269K | $243K | $176K | $46K | — | View 990 |
| 2018 | $332K | $343K | $168K | $64K | — | View 990 |
| 2017 | $272K | $296K | $215K | $100K | — | View 990 |
| 2016 | $286K | $274K | $223K | $85K | — | View 990 |
| 2015 | $218K | $245K | $216K | $90K | — | View 990 |
| 2014 | $245K | $249K | $208K | $54K | — | View 990 |
| 2013 | $210K | $203K | $220K | $62K | — | View 990 |
| 2012 | $198K | $175K | $173K | $22K | — | View 990 |
| 2011 | $172K | $161K | $172K | $44K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $293K, expenses of $264K, and assets of $222K (revenue +22.0% year-over-year).
- 2022: Revenue of $241K, expenses of $249K, and assets of $212K (revenue -8.8% year-over-year).
- 2021: Revenue of $264K, expenses of $216K, and assets of $213K (revenue -11.3% year-over-year).
- 2020: Revenue of $297K, expenses of $252K, and assets of $168K (revenue +305.7% year-over-year).
- 2019: Revenue of $73K, expenses of $129K, and assets of $110K (revenue -72.8% year-over-year).
- 2019: Revenue of $269K, expenses of $243K, and assets of $176K (revenue -18.8% year-over-year).
- 2018: Revenue of $332K, expenses of $343K, and assets of $168K (revenue +21.8% year-over-year).
- 2017: Revenue of $272K, expenses of $296K, and assets of $215K (revenue -4.8% year-over-year).
- 2016: Revenue of $286K, expenses of $274K, and assets of $223K (revenue +31.5% year-over-year).
- 2015: Revenue of $218K, expenses of $245K, and assets of $216K (revenue -11.0% year-over-year).
- 2014: Revenue of $245K, expenses of $249K, and assets of $208K (revenue +16.4% year-over-year).
- 2013: Revenue of $210K, expenses of $203K, and assets of $220K (revenue +5.9% year-over-year).
- 2012: Revenue of $198K, expenses of $175K, and assets of $173K (revenue +15.2% year-over-year).
- 2011: Revenue of $172K, expenses of $161K, and assets of $172K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Literacy Inc:
Data Sources and Methodology
This transparency report for Friends Of Literacy 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.