Furniture Friends
Furniture Friends shows strong financial growth and efficient operations with no reported officer compensation.
EIN: 10513662 · Westbrook, ME · NTEE: P20 · Updated: 2026-03-28
Is Furniture Friends Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Furniture Friends directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Furniture Friends
Furniture Friends (EIN: 10513662) is a nonprofit organization based in Westbrook, ME, classified under NTEE code P20. The organization reported total revenue of $396K and total assets of $234K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Furniture Friends's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Furniture Friends with a Mission Score of 90 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Furniture Friends allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which significantly reduces administrative overhead for an organization of its size (latest revenue $400,458).
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 Furniture Friends's IRS 990 filings:
- Lack of detailed breakdown for program, administrative, and fundraising expenses in provided data (estimated for spendingBreakdown)
Strengths
The following positive indicators were identified for Furniture Friends:
- Consistent revenue growth from $115,937 in 2014 to $400,458 in 2023.
- Healthy asset accumulation, growing from $76,545 in 2014 to $334,328 in 2023.
- 0% reported officer compensation across all filings, indicating efficient use of funds.
- Low liabilities, with only $2,864 in 2023, suggesting strong financial management.
- Positive net income in most years, contributing to financial stability and growth.
Frequently Asked Questions about Furniture Friends
Is Furniture Friends a legitimate charity?
Based on AI analysis of IRS 990 filings, Furniture Friends (EIN: 10513662) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Furniture Friends spend its money?
Furniture Friends directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Furniture Friends tax-deductible?
Furniture Friends is registered as a tax-exempt nonprofit (EIN: 10513662). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Furniture Friends a good charity?
Based on the provided data, Furniture Friends appears to be a good charity. It demonstrates strong financial growth, efficient spending with low liabilities, and a commitment to its mission as evidenced by 0% reported officer compensation.
How has Furniture Friends' revenue grown over time?
Furniture Friends has experienced significant revenue growth, increasing from $115,937 in 2014 to $400,458 in 2023, representing a nearly 245% increase over the decade.
What is Furniture Friends' approach to executive compensation?
Furniture Friends reports 0% officer compensation in all available filings, suggesting a volunteer-led executive team or a structure where leadership compensation is not categorized as officer compensation, contributing to very low administrative costs.
Filing History
IRS 990 filing history for Furniture Friends showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Furniture Friends's revenue has grown by 245.4%, moving from $116K to $400K. Total assets increased by 336.8% over the same period, from $77K to $334K. Total functional expenses rose by 534.8%, from $53K to $338K. In its most recent filing year (2023), Furniture Friends reported a surplus of $62K, with revenue exceeding expenses. The organization holds $3K in liabilities against $334K in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $331K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $400K | $338K | $334K | $3K | — | — |
| 2022 | $353K | $289K | $270K | $945 | — | View 990 |
| 2021 | $374K | $239K | $205K | $505 | — | View 990 |
| 2020 | $254K | $209K | $100K | $30K | — | View 990 |
| 2019 | $198K | $233K | $25K | $0 | — | View 990 |
| 2018 | $200K | $191K | $60K | $0 | — | View 990 |
| 2017 | $177K | $190K | $73K | $0 | — | View 990 |
| 2016 | $115K | $127K | $86K | $0 | — | View 990 |
| 2015 | $121K | $99K | $99K | $0 | — | View 990 |
| 2014 | $116K | $53K | $77K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $400K, expenses of $338K, and assets of $334K (revenue +13.4% year-over-year).
- 2022: Revenue of $353K, expenses of $289K, and assets of $270K (revenue -5.5% year-over-year).
- 2021: Revenue of $374K, expenses of $239K, and assets of $205K (revenue +47.2% year-over-year).
- 2020: Revenue of $254K, expenses of $209K, and assets of $100K (revenue +28.0% year-over-year).
- 2019: Revenue of $198K, expenses of $233K, and assets of $25K (revenue -0.7% year-over-year).
- 2018: Revenue of $200K, expenses of $191K, and assets of $60K (revenue +13.2% year-over-year).
- 2017: Revenue of $177K, expenses of $190K, and assets of $73K (revenue +53.8% year-over-year).
- 2016: Revenue of $115K, expenses of $127K, and assets of $86K (revenue -5.1% year-over-year).
- 2015: Revenue of $121K, expenses of $99K, and assets of $99K (revenue +4.4% year-over-year).
- 2014: Revenue of $116K, expenses of $53K, and assets of $77K.
Data Sources and Methodology
This transparency report for Furniture Friends 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.