Friends Of The Libby Museum Inc
Friends Of The Libby Museum Inc: Modest Revenue, Strong Asset Growth, and Efficient Operations
EIN: 222908701 · Wolfeboro, NH · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $27K |
| Total Expenses | $24K |
| Program Spending | 80% |
| Net Assets | $521K |
| Transparency Score | 75/100 |
Is Friends Of The Libby Museum Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of The Libby Museum Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of The Libby Museum Inc
Friends Of The Libby Museum Inc (EIN: 222908701) is a nonprofit organization based in Wolfeboro, NH. The organization reported total revenue of $27K and total assets of $541K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Libby Museum Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Libby Museum Inc is a micro nonprofit that has been operating for 37 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 | $93K |
| Total Expenses | $24K |
| Surplus / Deficit | +$69K |
| Total Assets | $521K |
| Net Assets | $521K |
| Operating Margin | 74.1% |
| Months of Reserves | 260.4 months |
Financial Health Grade: A
In 2023, Friends Of The Libby Museum Inc reported a surplus of $69K with revenue exceeding expenses, holds 260.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Friends Of The Libby Museum Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -70.2% | -44.8% | +4.3% |
| 2022 | +366.8% | +412.8% | +110.2% |
| 2021 | -46.7% | +17.7% | +32.4% |
| 2020 | +28.9% | -91.0% | +191.8% |
| 2019 | +498.2% | +399.6% | +11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1989 |
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 Libby Museum Inc with a Mission Score of 75 out of 100 (Good). 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: 80%
- fundraising: 10%
According to IRS 990 filings, Friends Of The Libby Museum Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. 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 surplus of $69K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is not reported in the provided data, with compensation consistently listed as 0% of revenue across all years, suggesting a volunteer-led organization.
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 The Libby Museum Inc:
- Consistent asset growth from $45,592 in 2016 to $540,759 in 2023 demonstrates effective financial management and donor confidence.
- Low expense ratios relative to assets and revenue indicate efficient operations.
- Zero reported liabilities across all years reflect a very healthy balance sheet.
Frequently Asked Questions about Friends Of The Libby Museum Inc
Is Friends Of The Libby Museum Inc a legitimate charity?
Friends Of The Libby Museum Inc (EIN: 222908701) is a registered tax-exempt nonprofit based in New Hampshire. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $27K. No red flags identified. 3 strengths noted. Financial health grade: A.
How does Friends Of The Libby Museum Inc spend its money?
Friends Of The Libby Museum Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Friends Of The Libby Museum Inc tax-deductible?
Friends Of The Libby Museum Inc is registered as a tax-exempt nonprofit (EIN: 222908701). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Friends Of The Libby Museum Inc's spending goes to programs?
Friends Of The Libby Museum Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Friends Of The Libby Museum Inc located?
Friends Of The Libby Museum Inc is headquartered in Wolfeboro, New Hampshire and files with the IRS under EIN 222908701.
How many years of IRS 990 filings does Friends Of The Libby Museum Inc have?
Friends Of The Libby Museum 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 $27K in total revenue.
What does Friends Of The Libby Museum Inc do?
Friends Of The Libby Museum Inc is a nonprofit organization in the Unknown sector, located in Wolfeboro, New Hampshire. It is classified under NTEE code Unknown.
How much revenue does Friends Of The Libby Museum Inc have?
Friends Of The Libby Museum Inc reported total revenue of $27,009. Based on 13 IRS 990 filings on record.
What are Friends Of The Libby Museum Inc's total assets?
Friends Of The Libby Museum Inc holds total assets of $540,759 as reported in IRS 990 filings.
Where is Friends Of The Libby Museum Inc located?
Friends Of The Libby Museum Inc is based in Wolfeboro, New Hampshire.
What is Friends Of The Libby Museum Inc's EIN?
Friends Of The Libby Museum Inc's Employer Identification Number (EIN) is 222908701. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Friends Of The Libby Museum Inc?
Friends Of The Libby Museum Inc is classified under NTEE code Unknown (Unknown).
Is Friends Of The Libby Museum Inc a registered 501(c)(3)?
Friends Of The Libby Museum Inc appears in IRS records (EIN: 222908701). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Friends Of The Libby Museum Inc file IRS Form 990?
Yes, Friends Of The Libby Museum Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Friends Of The Libby Museum Inc's revenue in 2023?
In the 202312 filing period, Friends Of The Libby Museum Inc reported total revenue of $92,840, total expenses of $24,032, and net assets of $521,480.
Is Friends Of The Libby Museum Inc's revenue growing or declining?
Friends Of The Libby Museum Inc's revenue is declining. Revenue went from $311,581 (202212) to $92,840 (202312), a -70.2% change. Based on 13 filings on record.
What is Friends Of The Libby Museum Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Friends Of The Libby Museum Inc covers tax period 202312. It shows revenue of $92,840, expenses of $24,032, total assets of $521,480, and liabilities of N/A.
How much does Friends Of The Libby Museum Inc spend on programs vs administration?
Based on IRS 990 analysis, Friends Of The Libby Museum Inc allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Friends Of The Libby Museum Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Friends Of The Libby Museum Inc appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 3 strengths noted.
What are Friends Of The Libby Museum Inc's strengths?
Positive indicators for Friends Of The Libby Museum Inc include: Consistent asset growth from $45,592 in 2016 to $540,759 in 2023 demonstrates effective financial management and donor confidence.. Low expense ratios relative to assets and revenue indicate efficient operations.. Zero reported liabilities across all years reflect a very healthy balance sheet.. These findings are derived from AI analysis of the organization's financial filings.
How does Friends Of The Libby Museum Inc compensate executives?
Executive compensation is not reported in the provided data, with compensation consistently listed as 0% of revenue across all years, suggesting a volunteer-led organization. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the organization sustain operations and achieve asset growth without reported compensation expenses?
The consistent reporting of 0% compensation suggests a highly volunteer-dependent model or that compensation is covered by a separate entity or specific grants not reflected in the general expense reporting. This allows a larger portion of revenue to be allocated to programs or asset building.
What is the primary driver of the significant asset increase from $237,947 in 2021 to $540,759 in 2023, given fluctuating revenue?
The substantial asset growth, despite varying revenue, indicates significant non-revenue contributions such as large donations, bequests, or investment gains. For example, in 2022, revenue was $311,581, while assets grew by over $260,000, suggesting substantial capital contributions beyond annual operating income.
Filing History
IRS 990 filing history for Friends Of The Libby Museum Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Friends Of The Libby Museum Inc's revenue has grown by 273.3%, moving from $25K to $93K. Total assets increased by 1374.4% over the same period, from $35K to $521K. Total functional expenses rose by 57.8%, from $15K to $24K. In its most recent filing year (2023), Friends Of The Libby Museum Inc reported a surplus of $69K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $93K | $24K | $521K | $0 | — | — |
| 2022 | $312K | $44K | $500K | $0 | — | — |
| 2021 | $67K | $8K | $238K | $0 | — | — |
| 2020 | $125K | $7K | $180K | $0 | — | — |
| 2019 | $97K | $80K | $62K | $0 | — | View 990 |
| 2018 | $16K | $16K | $55K | $8K | — | View 990 |
| 2017 | $16K | $14K | $47K | $0 | — | View 990 |
| 2016 | $18K | $10K | $46K | $0 | — | View 990 |
| 2015 | $17K | $26K | $38K | $0 | — | View 990 |
| 2014 | $33K | $20K | $47K | $0 | — | View 990 |
| 2013 | $15K | $14K | $34K | $0 | — | View 990 |
| 2012 | $20K | $22K | $33K | $0 | — | View 990 |
| 2011 | $25K | $15K | $35K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $93K, expenses of $24K, and assets of $521K (revenue -70.2% year-over-year).
- 2022: Revenue of $312K, expenses of $44K, and assets of $500K (revenue +366.8% year-over-year).
- 2021: Revenue of $67K, expenses of $8K, and assets of $238K (revenue -46.7% year-over-year).
- 2020: Revenue of $125K, expenses of $7K, and assets of $180K (revenue +28.9% year-over-year).
- 2019: Revenue of $97K, expenses of $80K, and assets of $62K (revenue +498.2% year-over-year).
- 2018: Revenue of $16K, expenses of $16K, and assets of $55K (revenue +2.3% year-over-year).
- 2017: Revenue of $16K, expenses of $14K, and assets of $47K (revenue -10.0% year-over-year).
- 2016: Revenue of $18K, expenses of $10K, and assets of $46K (revenue +4.8% year-over-year).
- 2015: Revenue of $17K, expenses of $26K, and assets of $38K (revenue -48.4% year-over-year).
- 2014: Revenue of $33K, expenses of $20K, and assets of $47K (revenue +113.5% year-over-year).
- 2013: Revenue of $15K, expenses of $14K, and assets of $34K (revenue -22.0% year-over-year).
- 2012: Revenue of $20K, expenses of $22K, and assets of $33K (revenue -21.1% year-over-year).
- 2011: Revenue of $25K, expenses of $15K, and assets of $35K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Libby Museum Inc:
Data Sources and Methodology
This transparency report for Friends Of The Libby Museum 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.