Friends Of The Ihes Inc
Friends Of The Ihes Inc experiences massive revenue growth and asset accumulation with minimal reported expenses and no officer compensation in 2023.
EIN: 134065148 · New York, NY · NTEE: B12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.2M |
| Total Expenses | $369K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $13 |
| Net Assets | $18.1M |
| Transparency Score | 85/100 |
Is Friends Of The Ihes Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of The Ihes Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of The Ihes Inc
Friends Of The Ihes Inc (EIN: 134065148) is a nonprofit organization based in New York, NY, classified under NTEE code B12. The organization reported total revenue of $4.2M and total assets of $22.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Ihes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Ihes Inc is a mid-size nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 48.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $13.4M |
| Total Expenses | $369K |
| Surplus / Deficit | +$13.1M |
| Total Assets | $18.2M |
| Total Liabilities | $68K |
| Net Assets | $18.1M |
| Operating Margin | 97.3% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 591.6 months |
Financial Health Grade: A
In 2023, Friends Of The Ihes Inc reported a surplus of $13.1M with revenue exceeding expenses, holds 591.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Friends Of The Ihes Inc's revenue has grown at a compound annual growth rate (CAGR) of 48.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +249.3% | +15.8% | +287.1% |
| 2022 | +345.1% | -16.3% | +298.1% |
| 2021 | +279.4% | +7.8% | +78.0% |
| 2020 | -70.9% | -24.1% | -17.5% |
| 2019 | +13.6% | -22.9% | +69.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 The Ihes Inc 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Friends Of The Ihes Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 $13.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is highly unusual for an organization with revenues reaching over $13 million and suggests either a volunteer-led executive team or compensation is covered by another entity, which would require further investigation for full transparency.
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 The Ihes Inc's IRS 990 filings:
- Extremely low expense-to-revenue ratio in 2023 ($368,712 expenses vs. $13,445,983 revenue) raises questions about the direct utilization of funds.
- Consistent 0% officer compensation for an organization with multi-million dollar revenues is unusual and may indicate indirect compensation or a highly unique operational model.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for Friends Of The Ihes Inc:
- Significant revenue growth, particularly in 2023 ($13,445,983), demonstrating strong fundraising capabilities.
- Substantial asset accumulation, reaching $18,177,506 in 2023, indicating strong financial health and stability.
- Very low liabilities relative to assets, suggesting a healthy balance sheet.
- Consistent reporting of 0% officer compensation, indicating a commitment to minimizing executive overhead.
Frequently Asked Questions about Friends Of The Ihes Inc
Is Friends Of The Ihes Inc a legitimate charity?
Friends Of The Ihes Inc (EIN: 134065148) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $4.2M. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Friends Of The Ihes Inc spend its money?
Friends Of The Ihes Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Friends Of The Ihes Inc tax-deductible?
Friends Of The Ihes Inc is registered as a tax-exempt nonprofit (EIN: 134065148). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Friends Of The Ihes Inc CEO make?
Friends Of The Ihes Inc's highest-compensated officer earns $13 annually. The organization reported $4.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Friends Of The Ihes Inc's spending goes to programs?
Friends Of The Ihes Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of The Ihes Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Friends Of The Ihes Inc is above average for NTEE category B12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of The Ihes Inc located?
Friends Of The Ihes Inc is headquartered in New York, New York and files with the IRS under EIN 134065148. It is classified under NTEE code B12.
How many years of IRS 990 filings does Friends Of The Ihes Inc have?
Friends Of The Ihes Inc 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 $4.2M in total revenue.
How does Friends Of The Ihes Inc manage to operate with 0% officer compensation, especially with such high revenue?
The consistent reporting of 0% officer compensation across all filings, even with revenues exceeding $13 million in 2023, suggests that executive leadership may be entirely volunteer-based or compensated through an affiliated entity. This practice, while potentially efficient, warrants further inquiry for complete financial transparency.
What specific programs does Friends Of The Ihes Inc fund with its substantial revenue?
The provided data indicates significant revenue and asset growth, but lacks specific details on the programs funded. Given the NTEE code B12 (Higher Education Institutions), it's likely related to supporting an institution of higher education, but without a program expense breakdown, the exact nature of the impact is unclear.
Why were expenses so low ($368,712) compared to revenue ($13,445,983) in 2023?
The extremely low expense-to-revenue ratio in 2023 suggests that a significant portion of the revenue was either accumulated as assets or passed through to another entity without being recorded as direct expenses of Friends Of The Ihes Inc. This could indicate a pass-through foundation model or substantial endowment building.
Filing History
IRS 990 filing history for Friends Of The Ihes Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Friends Of The Ihes Inc's revenue has grown by 11555.9%, moving from $115K to $13.4M. Total assets increased by 20409.7% over the same period, from $89K to $18.2M. Total functional expenses rose by 536.3%, from $58K to $369K. In its most recent filing year (2023), Friends Of The Ihes Inc reported a surplus of $13.1M, with revenue exceeding expenses. The organization holds $68K in liabilities against $18.2M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $18.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $13.4M | $369K | $18.2M | $68K | — | — |
| 2022 | $3.8M | $318K | $4.7M | $22K | — | View 990 |
| 2021 | $865K | $381K | $1.2M | $37K | — | View 990 |
| 2020 | $228K | $353K | $663K | $4K | — | View 990 |
| 2019 | $783K | $465K | $803K | $20K | — | View 990 |
| 2018 | $690K | $603K | $473K | $1K | — | View 990 |
| 2017 | $399K | $103K | $389K | $4K | — | View 990 |
| 2016 | $88K | $167K | $98K | $8K | — | View 990 |
| 2015 | $313K | $357K | $177K | $9K | — | View 990 |
| 2014 | $454K | $374K | $224K | $11K | — | View 990 |
| 2013 | $456K | $364K | $150K | $17K | — | View 990 |
| 2012 | $263K | $308K | $67K | $27K | — | View 990 |
| 2011 | $115K | $58K | $89K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13.4M, expenses of $369K, and assets of $18.2M (revenue +249.3% year-over-year).
- 2022: Revenue of $3.8M, expenses of $318K, and assets of $4.7M (revenue +345.1% year-over-year).
- 2021: Revenue of $865K, expenses of $381K, and assets of $1.2M (revenue +279.4% year-over-year).
- 2020: Revenue of $228K, expenses of $353K, and assets of $663K (revenue -70.9% year-over-year).
- 2019: Revenue of $783K, expenses of $465K, and assets of $803K (revenue +13.6% year-over-year).
- 2018: Revenue of $690K, expenses of $603K, and assets of $473K (revenue +73.0% year-over-year).
- 2017: Revenue of $399K, expenses of $103K, and assets of $389K (revenue +353.7% year-over-year).
- 2016: Revenue of $88K, expenses of $167K, and assets of $98K (revenue -71.9% year-over-year).
- 2015: Revenue of $313K, expenses of $357K, and assets of $177K (revenue -31.2% year-over-year).
- 2014: Revenue of $454K, expenses of $374K, and assets of $224K (revenue -0.4% year-over-year).
- 2013: Revenue of $456K, expenses of $364K, and assets of $150K (revenue +73.2% year-over-year).
- 2012: Revenue of $263K, expenses of $308K, and assets of $67K (revenue +128.2% year-over-year).
- 2011: Revenue of $115K, expenses of $58K, and assets of $89K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Ihes Inc:
Data Sources and Methodology
This transparency report for Friends Of The Ihes 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.