Furniture Library Association
EIN: 237249036 · High Point, NC · NTEE: T23
| Metric | Value |
|---|---|
| Total Revenue | $987K |
| Total Expenses | $369K |
| Net Assets | $5.8M |
Is Furniture Library Association Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Furniture Library Association
Furniture Library Association (EIN: 237249036) is a nonprofit organization based in High Point, NC, classified under NTEE code T23. The organization reported total revenue of $987K and total assets of $6.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Furniture Library Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Furniture Library Association is a small nonprofit that has been operating for 11 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 11.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $306K |
| Total Expenses | $369K |
| Surplus / Deficit | $-62,641 |
| Total Assets | $5.8M |
| Total Liabilities | $17K |
| Net Assets | $5.8M |
| Operating Margin | -20.5% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 189.4 months |
Financial Health Grade: B
In 2024, Furniture Library Association reported a deficit of $63K with expenses exceeding revenue, holds 189.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 10 years of filings (2012–2024), Furniture Library Association's revenue has grown at a compound annual growth rate (CAGR) of 11.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +142.4% | +22.3% | +8.2% |
| 2023 | -87.1% | -2.8% | +4.4% |
| 2022 | +192.8% | +12.6% | -15.0% |
| 2021 | +90.7% | +3.6% | +20.5% |
| 2020 | +136.5% | +11.0% | +6.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2015 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Furniture Library Association 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 Furniture Library Association 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $63K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Frequently Asked Questions about Furniture Library Association
Is Furniture Library Association a legitimate charity?
Furniture Library Association (EIN: 237249036) is a registered tax-exempt nonprofit based in North Carolina. It has 10 years of IRS 990 filings on record. Total revenue: $987K. No red flags identified. Financial health grade: B.
How does Furniture Library Association spend its money?
Furniture Library Association reported $987K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Furniture Library Association tax-deductible?
Furniture Library Association is registered as a tax-exempt nonprofit (EIN: 237249036). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Furniture Library Association located?
Furniture Library Association is headquartered in High Point, North Carolina and files with the IRS under EIN 237249036. It is classified under NTEE code T23.
How many years of IRS 990 filings does Furniture Library Association have?
Furniture Library Association has 10 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 $987K in total revenue.
Filing History
IRS 990 filing history for Furniture Library Association showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Furniture Library Association's revenue has grown by 251.5%, moving from $87K to $306K. Total assets increased by 35.2% over the same period, from $4.3M to $5.8M. Total functional expenses rose by 149.2%, from $148K to $369K. In its most recent filing year (2024), Furniture Library Association reported a deficit of $63K, with expenses exceeding revenue. The organization holds $17K in liabilities against $5.8M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $5.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $306K | $369K | $5.8M | $17K | — | — |
| 2023 | $126K | $301K | $5.4M | $34K | — | View 990 |
| 2022 | $980K | $310K | $5.2M | $63K | — | View 990 |
| 2021 | $335K | $275K | $6.1M | $86K | — | View 990 |
| 2020 | $175K | $266K | $5.0M | $13K | — | View 990 |
| 2016 | $74K | $239K | $4.7M | $2K | — | View 990 |
| 2015 | $237K | $252K | $4.9M | $3K | — | View 990 |
| 2014 | $994K | $220K | $5.0M | $9K | — | View 990 |
| 2013 | $107K | $181K | $4.5M | $2K | — | View 990 |
| 2012 | $87K | $148K | $4.3M | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $306K, expenses of $369K, and assets of $5.8M (revenue +142.4% year-over-year).
- 2023: Revenue of $126K, expenses of $301K, and assets of $5.4M (revenue -87.1% year-over-year).
- 2022: Revenue of $980K, expenses of $310K, and assets of $5.2M (revenue +192.8% year-over-year).
- 2021: Revenue of $335K, expenses of $275K, and assets of $6.1M (revenue +90.7% year-over-year).
- 2020: Revenue of $175K, expenses of $266K, and assets of $5.0M (revenue +136.5% year-over-year).
- 2016: Revenue of $74K, expenses of $239K, and assets of $4.7M (revenue -68.7% year-over-year).
- 2015: Revenue of $237K, expenses of $252K, and assets of $4.9M (revenue -76.2% year-over-year).
- 2014: Revenue of $994K, expenses of $220K, and assets of $5.0M (revenue +829.7% year-over-year).
- 2013: Revenue of $107K, expenses of $181K, and assets of $4.5M (revenue +22.9% year-over-year).
- 2012: Revenue of $87K, expenses of $148K, and assets of $4.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Furniture Library Association:
Data Sources and Methodology
This transparency report for Furniture Library Association 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.