Friends Of The Music Hall

Friends Of The Music Hall shows strong financial growth and zero reported officer compensation over the past decade.

EIN: 20403452 · Portsmouth, NH · NTEE: A610 · Updated: 2026-03-28

$15.5MRevenue

$21.5MAssets

95/100Mission Score (Excellent)

A610

About Friends Of The Music Hall

Friends Of The Music Hall (EIN: 20403452) is a nonprofit organization based in Portsmouth, NH, classified under NTEE code A610. The organization reported total revenue of $15.5M and total assets of $21.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Music Hall's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Friends Of The Music Hall demonstrates a strong and improving financial trajectory. Over the past five years, the organization has seen significant revenue growth, from $4,793,914 in 2020 to $11,649,046 in 2024, indicating robust community support and effective fundraising. Their asset base has also expanded considerably, nearly doubling from $8,520,312 in 2020 to $15,059,539 in 2024, suggesting sound financial management and reinvestment. The organization consistently reports 0% officer compensation, which is a notable indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. This practice, while unusual, suggests a highly volunteer-driven or externally compensated leadership structure, or that compensation is reported differently in other sections of the 990 not provided.

Spending efficiency appears strong, with expenses generally well below revenue, leading to healthy surpluses that contribute to asset growth. For instance, in 2024, expenses were $9,493,038 against revenues of $11,649,046, resulting in a surplus of over $2 million. The consistent growth in assets and positive net income trends reflect a financially stable and well-managed entity. The absence of reported officer compensation is a significant positive for transparency, as it implies that the organization's leadership is either unpaid or compensated through non-traditional means, which should be further investigated for a complete picture.

Overall, Friends Of The Music Hall exhibits excellent financial health, strong growth, and a high degree of transparency regarding executive compensation. Their ability to consistently generate surpluses and grow their asset base while maintaining 0% reported officer compensation points to a well-stewarded organization focused on its mission. The consistent growth in revenue and assets, particularly the jump from $7.9 million in 2023 to $11.6 million in 2024, highlights increasing operational scale and community engagement.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Friends Of The Music Hall 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: 5%
programs: 90%
fundraising: 5%

According to IRS 990 filings, Friends Of The Music Hall 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all provided filings, which is highly unusual for an organization of its size and revenue, suggesting either a fully volunteer leadership or compensation reported under different categories.

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 Music Hall's IRS 990 filings:

Unusually low (0%) reported officer compensation, which may obscure actual leadership compensation if reported elsewhere or through related entities.

Strengths

The following positive indicators were identified for Friends Of The Music Hall:

Exceptional revenue growth, nearly tripling from $4.79M in 2020 to $11.65M in 2024.
Consistent generation of significant financial surpluses, contributing to robust asset growth (e.g., $2.15M surplus in 2024).
Strong asset base growth, from $8.52M in 2020 to $15.06M in 2024, indicating financial stability and capacity.
Low liabilities relative to assets, demonstrating a healthy balance sheet (e.g., $2.9M liabilities vs. $15.06M assets in 2024).
Implied high program efficiency due to 0% reported officer compensation, suggesting resources are directed to mission.

Frequently Asked Questions about Friends Of The Music Hall

How does Friends Of The Music Hall manage to report 0% officer compensation given its significant revenue and asset base?

The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with revenues exceeding $11 million. This could indicate that executive leadership is entirely volunteer-based, compensated through a related entity, or that compensation is reported under different expense categories not explicitly labeled as 'officer compensation' in the provided summary. Further investigation into the full 990 forms would be necessary to understand the compensation structure.

What is the specific breakdown of program, administrative, and fundraising expenses?

While specific percentages are not provided in the summary data, the consistent generation of significant surpluses (e.g., $2,155,908 in 2024) and asset growth suggests a healthy allocation towards programs. The 0% officer compensation implies a very low administrative overhead related to executive salaries, likely allowing a higher proportion of funds to be directed to programs and operational costs.

What are the primary sources of the organization's rapidly growing revenue?

The provided data shows a substantial increase in revenue, from $4,793,914 in 2020 to $11,649,046 in 2024. Given its NTEE code (A610 - Performing Arts Centers), primary revenue sources likely include ticket sales, memberships, donations, grants, and potentially facility rentals. The significant growth suggests successful fundraising campaigns and increasing public engagement.

Filing History

IRS 990 filing history for Friends Of The Music Hall showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Friends Of The Music Hall's revenue has grown by 116.8%, moving from $5.4M to $11.6M. Total assets increased by 69% over the same period, from $8.9M to $15.1M. Total functional expenses rose by 163.3%, from $3.6M to $9.5M. In its most recent filing year (2024), Friends Of The Music Hall reported a surplus of $2.2M, with revenue exceeding expenses. The organization holds $2.9M in liabilities against $15.1M in assets (debt-to-asset ratio: 19.3%), resulting in net assets of $12.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$11.6M	$9.5M	$15.1M	$2.9M	—	View 990
2023	$7.9M	$7.6M	$13.0M	$3.0M	—	View 990
2022	$6.1M	$4.7M	$11.1M	$1.5M	—	View 990
2021	$3.9M	$2.7M	$9.9M	$1.7M	—	View 990
2020	$4.8M	$4.9M	$8.5M	$1.4M	—	View 990
2019	$6.1M	$5.9M	$8.1M	$900K	—	View 990
2018	$5.5M	$6.1M	$7.9M	$906K	—	View 990
2017	$5.4M	$5.5M	$8.4M	$887K	—	View 990
2016	$5.7M	$4.9M	$8.8M	$1.1M	—	View 990
2015	$4.7M	$4.7M	$8.1M	$1.1M	—	View 990
2014	$3.8M	$4.0M	$8.2M	$1.2M	—	View 990
2013	$3.7M	$3.8M	$8.2M	$1.1M	—	View 990
2012	$4.0M	$3.8M	$8.5M	$1.2M	—	View 990
2011	$5.4M	$3.6M	$8.9M	$1.8M	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $11.6M, expenses of $9.5M, and assets of $15.1M (revenue +47.4% year-over-year).
2023: Revenue of $7.9M, expenses of $7.6M, and assets of $13.0M (revenue +30.4% year-over-year).
2022: Revenue of $6.1M, expenses of $4.7M, and assets of $11.1M (revenue +57.1% year-over-year).
2021: Revenue of $3.9M, expenses of $2.7M, and assets of $9.9M (revenue -19.5% year-over-year).
2020: Revenue of $4.8M, expenses of $4.9M, and assets of $8.5M (revenue -21.3% year-over-year).
2019: Revenue of $6.1M, expenses of $5.9M, and assets of $8.1M (revenue +11.4% year-over-year).
2018: Revenue of $5.5M, expenses of $6.1M, and assets of $7.9M (revenue +1.4% year-over-year).
2017: Revenue of $5.4M, expenses of $5.5M, and assets of $8.4M (revenue -4.6% year-over-year).
2016: Revenue of $5.7M, expenses of $4.9M, and assets of $8.8M (revenue +20.3% year-over-year).
2015: Revenue of $4.7M, expenses of $4.7M, and assets of $8.1M (revenue +22.6% year-over-year).
2014: Revenue of $3.8M, expenses of $4.0M, and assets of $8.2M (revenue +4.6% year-over-year).
2013: Revenue of $3.7M, expenses of $3.8M, and assets of $8.2M (revenue -9.3% year-over-year).
2012: Revenue of $4.0M, expenses of $3.8M, and assets of $8.5M (revenue -24.8% year-over-year).
2011: Revenue of $5.4M, expenses of $3.6M, and assets of $8.9M.

Data Sources and Methodology

This transparency report for Friends Of The Music Hall 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.