Friends Of Madison Library
Friends Of Madison Library maintains strong financial health with increasing assets and no liabilities, operating without executive compensation.
EIN: 20471963 · Madison, NH · NTEE: S20J · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $36K |
| Total Expenses | $9K |
| Program Spending | 90% |
| Net Assets | $72K |
| Transparency Score | 95/100 |
Is Friends Of Madison Library Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of Madison Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of Madison Library
Friends Of Madison Library (EIN: 20471963) is a nonprofit organization based in Madison, NH, classified under NTEE code S20J. The organization reported total revenue of $36K and total assets of $95K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Madison Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Madison Library is a micro nonprofit that has been operating for 31 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $18K |
| Total Expenses | $9K |
| Surplus / Deficit | +$8K |
| Total Assets | $72K |
| Net Assets | $72K |
| Operating Margin | 46.9% |
| Months of Reserves | 92.3 months |
Financial Health Grade: A
In 2023, Friends Of Madison Library reported a surplus of $8K with revenue exceeding expenses, holds 92.3 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Friends Of Madison Library's revenue has grown at a compound annual growth rate (CAGR) of 11.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +45.7% | -16.8% | +13.0% |
| 2022 | -28.9% | +80.7% | +1.4% |
| 2021 | +45.6% | +49.8% | +20.7% |
| 2020 | -7.5% | -38.9% | +16.9% |
| 2019 | +127.3% | +63.2% | +15.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Madison Library with a Mission Score of 95 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: 90%
- fundraising: 0%
According to IRS 990 filings, Friends Of Madison Library allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 surplus of $8K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization operates without paid officers, which is highly commendable for a nonprofit of its size.
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.
Strengths
The following positive indicators were identified for Friends Of Madison Library:
- Consistent asset growth, from $30,790 in 2014 to $72,177 in 2023.
- Zero liabilities reported across all filings, indicating strong financial stability.
- 0% officer compensation, demonstrating a volunteer-driven model and efficient use of funds.
- Consistent IRS 990 filing history (13 filings), indicating strong transparency.
- Positive net income in most years, contributing to asset growth.
Frequently Asked Questions about Friends Of Madison Library
Is Friends Of Madison Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of Madison Library (EIN: 20471963) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Friends Of Madison Library spend its money?
Friends Of Madison Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Of Madison Library tax-deductible?
Friends Of Madison Library is registered as a tax-exempt nonprofit (EIN: 20471963). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Friends Of Madison Library compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Friends Of Madison Library is above average for NTEE category S20J nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of Madison Library located?
Friends Of Madison Library is headquartered in Madison, New Hampshire and files with the IRS under EIN 20471963. It is classified under NTEE code S20J.
How many years of IRS 990 filings does Friends Of Madison Library have?
Friends Of Madison Library has 13 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 $36K in total revenue.
Is Friends Of Madison Library a good charity?
Based on the available data, Friends Of Madison Library appears to be a very good charity. It demonstrates strong financial health with growing assets and no liabilities, operates with 0% officer compensation, and consistently files its IRS 990s, indicating transparency and a focus on its mission.
How has the organization's financial position changed over the last decade?
The organization's assets have shown consistent growth, increasing from $30,790 in 2014 to $72,177 in 2023, while maintaining zero liabilities throughout this period. Revenue and expenses have fluctuated but generally show a positive net income.
What is the organization's approach to executive compensation?
Friends Of Madison Library reports 0% officer compensation in all available filings, indicating that its leadership is entirely volunteer-based, which is a significant strength for a nonprofit.
Filing History
IRS 990 filing history for Friends Of Madison Library showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Friends Of Madison Library's revenue has grown by 274.7%, moving from $5K to $18K. Total assets increased by 128.4% over the same period, from $32K to $72K. Total functional expenses rose by 108.3%, from $5K to $9K. In its most recent filing year (2023), Friends Of Madison Library reported a surplus of $8K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $18K | $9K | $72K | $0 | — | View 990 |
| 2022 | $12K | $11K | $64K | $0 | — | View 990 |
| 2021 | $17K | $6K | $63K | $0 | — | — |
| 2020 | $12K | $4K | $52K | $0 | — | View 990 |
| 2019 | $13K | $7K | $45K | $0 | — | — |
| 2018 | $6K | $4K | $39K | $0 | — | View 990 |
| 2017 | $5K | $5K | $37K | $0 | — | View 990 |
| 2016 | $7K | $5K | $37K | $0 | — | View 990 |
| 2015 | $11K | $7K | $35K | $0 | — | View 990 |
| 2014 | $13K | $9K | $31K | $0 | — | View 990 |
| 2013 | $8K | $13K | $27K | $0 | — | View 990 |
| 2012 | $6K | $5K | $32K | $0 | — | View 990 |
| 2011 | $5K | $5K | $32K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $18K, expenses of $9K, and assets of $72K (revenue +45.7% year-over-year).
- 2022: Revenue of $12K, expenses of $11K, and assets of $64K (revenue -28.9% year-over-year).
- 2021: Revenue of $17K, expenses of $6K, and assets of $63K (revenue +45.6% year-over-year).
- 2020: Revenue of $12K, expenses of $4K, and assets of $52K (revenue -7.5% year-over-year).
- 2019: Revenue of $13K, expenses of $7K, and assets of $45K (revenue +127.3% year-over-year).
- 2018: Revenue of $6K, expenses of $4K, and assets of $39K (revenue +4.3% year-over-year).
- 2017: Revenue of $5K, expenses of $5K, and assets of $37K (revenue -24.9% year-over-year).
- 2016: Revenue of $7K, expenses of $5K, and assets of $37K (revenue -33.4% year-over-year).
- 2015: Revenue of $11K, expenses of $7K, and assets of $35K (revenue -17.5% year-over-year).
- 2014: Revenue of $13K, expenses of $9K, and assets of $31K (revenue +62.0% year-over-year).
- 2013: Revenue of $8K, expenses of $13K, and assets of $27K (revenue +40.9% year-over-year).
- 2012: Revenue of $6K, expenses of $5K, and assets of $32K (revenue +20.1% year-over-year).
- 2011: Revenue of $5K, expenses of $5K, and assets of $32K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Madison Library:
Data Sources and Methodology
This transparency report for Friends Of Madison Library 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.