Friends Of The Market Inc
Friends Of The Market Inc shows recent financial stability with growing assets and no liabilities.
EIN: 202974172 · Birmingham, AL · NTEE: K99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $121K |
| Total Expenses | $84K |
| Program Spending | 80% |
| Net Assets | $47K |
| Transparency Score | 85/100 |
Is Friends Of The Market 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 Market Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of The Market Inc
Friends Of The Market Inc (EIN: 202974172) is a nonprofit organization based in Birmingham, AL, classified under NTEE code K99. The organization reported total revenue of $121K and total assets of $64K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Market Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Market Inc is a small nonprofit that has been operating for 20 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 4.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $86K |
| Total Expenses | $84K |
| Surplus / Deficit | +$2K |
| Total Assets | $47K |
| Net Assets | $47K |
| Operating Margin | 2.3% |
| Months of Reserves | 6.7 months |
Financial Health Grade: A
In 2023, Friends Of The Market Inc reported a surplus of $2K with revenue exceeding expenses, holds 6.7 months of operating reserves (strong position).
Financial Trends
Over 5 years of filings (2019–2023), Friends Of The Market Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -27.6% | +8.0% | +4.4% |
| 2022 | -32.6% | -57.7% | +1001.9% |
| 2021 | +212.8% | +56.6% | -64.7% |
| 2020 | -20.9% | +76.6% | -84.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Market 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Friends Of The Market Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. 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 $2K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly favorable for donor confidence and resource allocation.
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 Market Inc:
- Consistent asset growth in recent years (from $4,090 in 2021 to $47,064 in 2023).
- Zero liabilities reported across all filings, indicating no debt.
- No officer compensation reported, suggesting efficient use of funds for mission-related activities.
- Recent positive net income (revenue exceeding expenses) in 2023 and 2022.
- Consistent IRS 990 filing history demonstrates transparency.
Frequently Asked Questions about Friends Of The Market Inc
Is Friends Of The Market Inc a legitimate charity?
Friends Of The Market Inc (EIN: 202974172) is a registered tax-exempt nonprofit based in Alabama. Our AI analysis gives it a Mission Score of 85/100. It has 5 years of IRS 990 filings on record. Total revenue: $121K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Friends Of The Market Inc spend its money?
Friends Of The Market Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Friends Of The Market Inc tax-deductible?
Friends Of The Market Inc is registered as a tax-exempt nonprofit (EIN: 202974172). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Friends Of The Market Inc's spending goes to programs?
Friends Of The Market Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Friends Of The Market Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Friends Of The Market Inc is above average for NTEE category K99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Friends Of The Market Inc located?
Friends Of The Market Inc is headquartered in Birmingham, Alabama and files with the IRS under EIN 202974172. It is classified under NTEE code K99.
How many years of IRS 990 filings does Friends Of The Market Inc have?
Friends Of The Market Inc has 5 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 $121K in total revenue.
Is Friends Of The Market Inc financially stable?
Yes, the organization has shown recent financial stability, with revenues exceeding expenses in 2023 ($85,802 vs. $83,804) and 2022 ($118,568 vs. $77,592), and consistent asset growth from $4,090 in 2021 to $47,064 in 2023.
Does Friends Of The Market Inc have any debt?
No, the organization has consistently reported $0 in liabilities across all five available IRS 990 filings, indicating no outstanding debt.
How transparent is Friends Of The Market Inc?
The organization appears highly transparent, consistently filing IRS 990 forms and reporting 0% officer compensation, which simplifies financial review and builds trust.
Filing History
IRS 990 filing history for Friends Of The Market Inc showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Friends Of The Market Inc's revenue has grown by 20.6%, moving from $71K to $86K. Total assets decreased by 35.1% over the same period, from $72K to $47K. Total functional expenses rose by 26.3%, from $66K to $84K. In its most recent filing year (2023), Friends Of The Market Inc reported a surplus of $2K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $86K | $84K | $47K | $0 | — | — |
| 2022 | $119K | $78K | $45K | $0 | — | View 990 |
| 2021 | $176K | $184K | $4K | $0 | — | View 990 |
| 2020 | $56K | $117K | $12K | $0 | — | — |
| 2019 | $71K | $66K | $72K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $86K, expenses of $84K, and assets of $47K (revenue -27.6% year-over-year).
- 2022: Revenue of $119K, expenses of $78K, and assets of $45K (revenue -32.6% year-over-year).
- 2021: Revenue of $176K, expenses of $184K, and assets of $4K (revenue +212.8% year-over-year).
- 2020: Revenue of $56K, expenses of $117K, and assets of $12K (revenue -20.9% year-over-year).
- 2019: Revenue of $71K, expenses of $66K, and assets of $72K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Market Inc:
Data Sources and Methodology
This transparency report for Friends Of The Market 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.