Friends Of The City Of Raleigh Museum
EIN: 582069400 · Raleigh, NC · NTEE: A540
Is Friends Of The City Of Raleigh Museum 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 The City Of Raleigh Museum
Friends Of The City Of Raleigh Museum (EIN: 582069400) is a nonprofit organization based in Raleigh, NC, classified under NTEE code A540. The organization reported total revenue of $643K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The City Of Raleigh Museum's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The City Of Raleigh Museum is a small nonprofit that has been operating for 33 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $193K |
| Total Expenses | $133K |
| Surplus / Deficit | +$60K |
| Total Assets | $579K |
| Total Liabilities | $3K |
| Net Assets | $576K |
| Operating Margin | 31.1% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 52.3 months |
Financial Health Grade: A
In 2023, Friends Of The City Of Raleigh Museum reported a surplus of $60K with revenue exceeding expenses, holds 52.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Friends Of The City Of Raleigh Museum's revenue has declined at a compound annual growth rate (CAGR) of -3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +37.5% | -1.3% | +11.8% |
| 2022 | +10.8% | -8.4% | -1.0% |
| 2021 | -7.9% | +1.5% | -1.7% |
| 2020 | -6.3% | -19.8% | -1.3% |
| 2019 | -17.6% | -0.5% | -6.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1993 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Friends Of The City Of Raleigh Museum 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 The City Of Raleigh Museum 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 $60K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.5%.
Frequently Asked Questions about Friends Of The City Of Raleigh Museum
Is Friends Of The City Of Raleigh Museum a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of The City Of Raleigh Museum (EIN: 582069400) insufficient data. 0 red flags identified, 0 strengths noted.
How does Friends Of The City Of Raleigh Museum spend its money?
Detailed spending breakdown data is not yet available for Friends Of The City Of Raleigh Museum. Check back for updated IRS 990 analysis.
Are donations to Friends Of The City Of Raleigh Museum tax-deductible?
Friends Of The City Of Raleigh Museum is registered as a tax-exempt nonprofit (EIN: 582069400). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Friends Of The City Of Raleigh Museum showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Friends Of The City Of Raleigh Museum's revenue has declined by 31.5%, moving from $282K to $193K. Total assets decreased by 18.6% over the same period, from $712K to $579K. Total functional expenses fell by 46.7%, from $250K to $133K. In its most recent filing year (2023), Friends Of The City Of Raleigh Museum reported a surplus of $60K, with revenue exceeding expenses. The organization holds $3K in liabilities against $579K in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $576K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $193K | $133K | $579K | $3K | — | View 990 |
| 2022 | $140K | $135K | $518K | $2K | — | View 990 |
| 2021 | $127K | $147K | $524K | $13K | — | View 990 |
| 2020 | $138K | $145K | $533K | $2K | — | View 990 |
| 2019 | $147K | $181K | $540K | $1K | — | View 990 |
| 2018 | $178K | $182K | $576K | $3K | — | View 990 |
| 2017 | $124K | $176K | $626K | $50K | — | View 990 |
| 2016 | $163K | $176K | $636K | $8K | — | View 990 |
| 2015 | $119K | $134K | $643K | $3K | — | View 990 |
| 2014 | $176K | $180K | $660K | $5K | — | View 990 |
| 2013 | $127K | $148K | $668K | $9K | — | View 990 |
| 2012 | $249K | $278K | $683K | $3K | — | View 990 |
| 2011 | $282K | $250K | $712K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $193K, expenses of $133K, and assets of $579K (revenue +37.5% year-over-year).
- 2022: Revenue of $140K, expenses of $135K, and assets of $518K (revenue +10.8% year-over-year).
- 2021: Revenue of $127K, expenses of $147K, and assets of $524K (revenue -7.9% year-over-year).
- 2020: Revenue of $138K, expenses of $145K, and assets of $533K (revenue -6.3% year-over-year).
- 2019: Revenue of $147K, expenses of $181K, and assets of $540K (revenue -17.6% year-over-year).
- 2018: Revenue of $178K, expenses of $182K, and assets of $576K (revenue +43.8% year-over-year).
- 2017: Revenue of $124K, expenses of $176K, and assets of $626K (revenue -23.9% year-over-year).
- 2016: Revenue of $163K, expenses of $176K, and assets of $636K (revenue +36.4% year-over-year).
- 2015: Revenue of $119K, expenses of $134K, and assets of $643K (revenue -32.2% year-over-year).
- 2014: Revenue of $176K, expenses of $180K, and assets of $660K (revenue +38.3% year-over-year).
- 2013: Revenue of $127K, expenses of $148K, and assets of $668K (revenue -48.8% year-over-year).
- 2012: Revenue of $249K, expenses of $278K, and assets of $683K (revenue -11.7% year-over-year).
- 2011: Revenue of $282K, expenses of $250K, and assets of $712K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The City Of Raleigh Museum:
Data Sources and Methodology
This transparency report for Friends Of The City Of Raleigh Museum 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.