Furniture Friends

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Furniture Friends Form 990, Revenue, CEO Pay, and IRS Filing Signals

Furniture Friends is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Furniture Friends in one place.

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 →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Furniture Friends shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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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.

Organization Overview

Furniture Friends is a small nonprofit that has been operating for 28 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 14.8%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Furniture Friends reported a surplus of $62K with revenue exceeding expenses, holds 11.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).

Financial Trends

Over 10 years of filings (2014–2023), Furniture Friends's revenue has grown at a compound annual growth rate (CAGR) of 14.8%.

IRS Tax-Exempt Classification

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 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.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $62K, with revenue exceeding expenses.
• Debt-to-asset ratio: 0.9%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Furniture Friends:

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.