Friends Of The Narragansett Library
EIN: 50486091 · Narragansett, RI · NTEE: P20
| Metric | Value |
|---|---|
| Total Revenue | $310K |
| Total Expenses | $471K |
| Net Assets | $69K |
Is Friends Of The Narragansett Library 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 Narragansett Library
Friends Of The Narragansett Library (EIN: 50486091) is a nonprofit organization based in Narragansett, RI, classified under NTEE code P20. The organization reported total revenue of $310K and total assets of $220K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of The Narragansett Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of The Narragansett Library is a small nonprofit that has been operating for 12 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of 28.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $500K |
| Total Expenses | $471K |
| Surplus / Deficit | +$30K |
| Total Assets | $69K |
| Net Assets | $69K |
| Operating Margin | 5.9% |
| Months of Reserves | 1.8 months |
Financial Health Grade: A
In 2023, Friends Of The Narragansett Library reported a surplus of $30K with revenue exceeding expenses, holds 1.8 months of operating reserves (limited).
Financial Trends
Over 4 years of filings (2020–2023), Friends Of The Narragansett Library's revenue has grown at a compound annual growth rate (CAGR) of 28.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -27.0% | -63.7% | +74.9% |
| 2022 | +85.4% | +14012.3% | -93.9% |
| 2021 | +56.7% | -17.1% | +124.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Friends Of The Narragansett Library 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 Narragansett Library 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 $30K, with revenue exceeding expenses.
Frequently Asked Questions about Friends Of The Narragansett Library
Is Friends Of The Narragansett Library a legitimate charity?
Friends Of The Narragansett Library (EIN: 50486091) is a registered tax-exempt nonprofit based in Rhode Island. It has 4 years of IRS 990 filings on record. Total revenue: $310K. No red flags identified. Financial health grade: A.
How does Friends Of The Narragansett Library spend its money?
Friends Of The Narragansett Library reported $310K in total revenue in IRS 990 filings. 4 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Friends Of The Narragansett Library tax-deductible?
Friends Of The Narragansett Library is registered as a tax-exempt nonprofit (EIN: 50486091). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Friends Of The Narragansett Library located?
Friends Of The Narragansett Library is headquartered in Narragansett, Rhode Island and files with the IRS under EIN 50486091. It is classified under NTEE code P20.
How many years of IRS 990 filings does Friends Of The Narragansett Library have?
Friends Of The Narragansett Library has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $310K in total revenue.
Filing History
IRS 990 filing history for Friends Of The Narragansett Library showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Friends Of The Narragansett Library's revenue has grown by 112.1%, moving from $236K to $500K. Total assets decreased by 76.2% over the same period, from $289K to $69K. Total functional expenses rose by 4152.1%, from $11K to $471K. In its most recent filing year (2023), Friends Of The Narragansett Library reported a surplus of $30K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $500K | $471K | $69K | $0 | — | — |
| 2022 | $685K | $1.3M | $39K | $0 | — | — |
| 2021 | $370K | $9K | $650K | $0 | — | View 990 |
| 2020 | $236K | $11K | $289K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $500K, expenses of $471K, and assets of $69K (revenue -27.0% year-over-year).
- 2022: Revenue of $685K, expenses of $1.3M, and assets of $39K (revenue +85.4% year-over-year).
- 2021: Revenue of $370K, expenses of $9K, and assets of $650K (revenue +56.7% year-over-year).
- 2020: Revenue of $236K, expenses of $11K, and assets of $289K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of The Narragansett Library:
Data Sources and Methodology
This transparency report for Friends Of The Narragansett Library 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.