My Friends Place Inc
My Friends Place Inc shows strong financial growth and zero executive compensation over a decade.
EIN: 20407497 · Dover, NH · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.5M |
| Total Expenses | $452K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.3 |
| Net Assets | $1.3M |
| Transparency Score | 95/100 |
Is My Friends Place Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
My Friends Place Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About My Friends Place Inc
My Friends Place Inc (EIN: 20407497) is a nonprofit organization based in Dover, NH. The organization reported total revenue of $1.5M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of My Friends Place Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
My Friends Place Inc is a mid-size nonprofit that has been operating for 38 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $832K |
| Total Expenses | $452K |
| Surplus / Deficit | +$380K |
| Total Assets | $1.4M |
| Total Liabilities | $77K |
| Net Assets | $1.3M |
| Operating Margin | 45.7% |
| Debt-to-Asset Ratio | 5.5% |
| Months of Reserves | 37.0 months |
Financial Health Grade: A
In 2023, My Friends Place Inc reported a surplus of $380K with revenue exceeding expenses, holds 37.0 months of operating reserves (strong position), has a debt-to-asset ratio of 5.5% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), My Friends Place Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +55.9% | -2.9% | +37.0% |
| 2022 | -6.3% | +2.1% | +11.9% |
| 2021 | +45.1% | +28.7% | +15.1% |
| 2020 | +5.0% | -2.3% | +14.9% |
| 2019 | +21.5% | +6.7% | +1.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 My Friends Place Inc 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, My Friends Place Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $380K, with revenue exceeding expenses.
- Debt-to-asset ratio: 5.5%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for an organization of its size with assets growing to over $1.3 million.
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.
Strengths
The following positive indicators were identified for My Friends Place Inc:
- Consistent revenue growth, nearly doubling from $392,567 in 2020 to $832,111 in 2023.
- Strong asset growth, increasing from $642,571 in 2013 to $1,394,941 in 2023.
- Zero officer compensation reported across all 12 filings, indicating high program focus.
- Healthy surpluses in recent years, with revenue significantly exceeding expenses (e.g., $832,111 revenue vs. $451,838 expenses in 2023).
- Low liabilities relative to assets, suggesting sound financial management and stability.
Frequently Asked Questions about My Friends Place Inc
Is My Friends Place Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, My Friends Place Inc (EIN: 20407497) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does My Friends Place Inc spend its money?
My Friends Place Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to My Friends Place Inc tax-deductible?
My Friends Place Inc is registered as a tax-exempt nonprofit (EIN: 20407497). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the My Friends Place Inc CEO make?
My Friends Place Inc's highest-compensated officer earns $1.3 annually. The organization reported $1.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of My Friends Place Inc's spending goes to programs?
My Friends Place Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is My Friends Place Inc located?
My Friends Place Inc is headquartered in Dover, New Hampshire and files with the IRS under EIN 20407497.
How many years of IRS 990 filings does My Friends Place Inc have?
My Friends Place Inc has 12 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 $1.5M in total revenue.
Is My Friends Place Inc a good charity?
Based on the provided financial data, My Friends Place Inc appears to be a very good charity. It demonstrates strong financial health, consistent growth in revenue and assets, and a remarkable commitment to directing all funds to its mission by reporting 0% officer compensation.
How has My Friends Place Inc's financial health changed over time?
My Friends Place Inc has shown significant financial improvement and growth over the past decade. Revenue has more than doubled from $392,567 in 2020 to $832,111 in 2023, and assets have grown from $642,571 in 2013 to $1,394,941 in 2023, indicating robust financial management and sustainability.
What is the organization's approach to executive compensation?
The organization's approach to executive compensation is highly transparent and mission-focused, with 0% officer compensation reported across all 12 available IRS 990 filings. This means no officers are paid salaries, which is a strong indicator of fiscal responsibility.
Filing History
IRS 990 filing history for My Friends Place Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), My Friends Place Inc's revenue has grown by 112.7%, moving from $391K to $832K. Total assets increased by 82.4% over the same period, from $765K to $1.4M. Total functional expenses rose by 14.7%, from $394K to $452K. In its most recent filing year (2023), My Friends Place Inc reported a surplus of $380K, with revenue exceeding expenses. The organization holds $77K in liabilities against $1.4M in assets (debt-to-asset ratio: 5.5%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $832K | $452K | $1.4M | $77K | — | — |
| 2022 | $534K | $465K | $1.0M | $63K | — | View 990 |
| 2021 | $569K | $456K | $910K | $39K | — | — |
| 2020 | $393K | $354K | $790K | $77K | — | View 990 |
| 2019 | $374K | $362K | $688K | $8K | — | View 990 |
| 2018 | $307K | $339K | $681K | $13K | — | View 990 |
| 2017 | $384K | $346K | $705K | $14K | — | View 990 |
| 2016 | $382K | $358K | $675K | $21K | — | View 990 |
| 2015 | $352K | $14K | $661K | $41K | — | View 990 |
| 2013 | $353K | $369K | $643K | $51K | — | View 990 |
| 2012 | $363K | $368K | $673K | $65K | — | View 990 |
| 2011 | $391K | $394K | $765K | $67K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $832K, expenses of $452K, and assets of $1.4M (revenue +55.9% year-over-year).
- 2022: Revenue of $534K, expenses of $465K, and assets of $1.0M (revenue -6.3% year-over-year).
- 2021: Revenue of $569K, expenses of $456K, and assets of $910K (revenue +45.1% year-over-year).
- 2020: Revenue of $393K, expenses of $354K, and assets of $790K (revenue +5.0% year-over-year).
- 2019: Revenue of $374K, expenses of $362K, and assets of $688K (revenue +21.5% year-over-year).
- 2018: Revenue of $307K, expenses of $339K, and assets of $681K (revenue -19.8% year-over-year).
- 2017: Revenue of $384K, expenses of $346K, and assets of $705K (revenue +0.5% year-over-year).
- 2016: Revenue of $382K, expenses of $358K, and assets of $675K (revenue +8.4% year-over-year).
- 2015: Revenue of $352K, expenses of $14K, and assets of $661K (revenue -0.2% year-over-year).
- 2013: Revenue of $353K, expenses of $369K, and assets of $643K (revenue -2.9% year-over-year).
- 2012: Revenue of $363K, expenses of $368K, and assets of $673K (revenue -7.2% year-over-year).
- 2011: Revenue of $391K, expenses of $394K, and assets of $765K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for My Friends Place Inc:
Data Sources and Methodology
This transparency report for My Friends Place Inc 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.