Old Friends Inc
Old Friends Inc. shows consistent revenue growth and zero reported officer compensation over the past decade.
EIN: 200049798 · Georgetown, KY · NTEE: D20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.1M |
| Total Expenses | $3.2M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $2.9M |
| Transparency Score | 95/100 |
Is Old Friends Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Old Friends Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Old Friends Inc
Old Friends Inc (EIN: 200049798) is a nonprofit organization based in Georgetown, KY, classified under NTEE code D20. The organization reported total revenue of $4.1M and total assets of $9.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Old Friends Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Old Friends Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.6M |
| Total Expenses | $3.2M |
| Surplus / Deficit | +$401K |
| Total Assets | $5.4M |
| Total Liabilities | $2.5M |
| Net Assets | $2.9M |
| Operating Margin | 11.0% |
| Debt-to-Asset Ratio | 45.7% |
| Months of Reserves | 20.0 months |
Financial Health Grade: A
In 2023, Old Friends Inc reported a surplus of $401K with revenue exceeding expenses, holds 20.0 months of operating reserves (strong position), has a debt-to-asset ratio of 45.7% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Old Friends Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +29.0% | +26.1% | +4.9% |
| 2022 | -4.9% | +12.2% | +1.2% |
| 2021 | +43.0% | +14.6% | +1.9% |
| 2020 | -16.1% | +8.2% | -0.3% |
| 2019 | +19.6% | -6.4% | +6.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Old Friends 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Old Friends Inc 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 $401K, with revenue exceeding expenses.
- Debt-to-asset ratio: 45.7%.
Executive Compensation Analysis
Old Friends Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is exceptional for an organization with annual revenues exceeding $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 Old Friends Inc:
- Consistent revenue growth over a decade, from $1.3M in 2014 to $3.6M in 2023.
- Zero reported officer compensation across all filings, indicating high dedication to mission.
- Healthy asset growth, increasing from $1.9M in 2014 to $5.3M in 2023.
- Expenses consistently below revenue, demonstrating sound financial management.
- Strong financial health with increasing net assets.
Frequently Asked Questions about Old Friends Inc
Is Old Friends Inc a legitimate charity?
Old Friends Inc (EIN: 200049798) is a registered tax-exempt nonprofit based in Kentucky. Our AI analysis gives it a Mission Score of 95/100. It has 13 years of IRS 990 filings on record. Total revenue: $4.1M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Old Friends Inc spend its money?
Old Friends Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Old Friends Inc tax-deductible?
Old Friends Inc is registered as a tax-exempt nonprofit (EIN: 200049798). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Old Friends Inc CEO make?
Old Friends Inc's highest-compensated officer earns $3 annually. The organization reported $4.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Old Friends Inc's spending goes to programs?
Old Friends Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Old Friends Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Old Friends Inc is above average for NTEE category D20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Old Friends Inc located?
Old Friends Inc is headquartered in Georgetown, Kentucky and files with the IRS under EIN 200049798. It is classified under NTEE code D20.
How many years of IRS 990 filings does Old Friends Inc have?
Old Friends Inc has 13 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 $4.1M in total revenue.
Is Old Friends Inc. financially stable?
Yes, Old Friends Inc. appears financially stable, demonstrating consistent revenue growth from $1.3 million in 2014 to $3.6 million in 2023, and a healthy increase in assets from $1.9 million to $5.3 million over the same period, indicating strong financial management.
How does Old Friends Inc. manage its expenses?
Old Friends Inc. consistently manages its expenses below its revenue. For example, in 2023, expenses were $3,240,372 against revenues of $3,641,088, showing a surplus that contributes to asset growth.
What is the trend in Old Friends Inc.'s assets?
Old Friends Inc. has shown a strong upward trend in assets, growing from $1,959,878 in 2014 to $5,393,517 in 2023, indicating successful accumulation of resources.
Does Old Friends Inc. pay its officers?
No, Old Friends Inc. consistently reports 0% officer compensation in all available IRS 990 filings, suggesting that officers are not compensated through salaries.
Filing History
IRS 990 filing history for Old Friends Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Old Friends Inc's revenue has grown by 218.1%, moving from $1.1M to $3.6M. Total assets increased by 188.9% over the same period, from $1.9M to $5.4M. Total functional expenses rose by 225.4%, from $996K to $3.2M. In its most recent filing year (2023), Old Friends Inc reported a surplus of $401K, with revenue exceeding expenses. The organization holds $2.5M in liabilities against $5.4M in assets (debt-to-asset ratio: 45.7%), resulting in net assets of $2.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.6M | $3.2M | $5.4M | $2.5M | — | — |
| 2022 | $2.8M | $2.6M | $5.1M | $2.6M | — | — |
| 2021 | $3.0M | $2.3M | $5.1M | $2.7M | — | View 990 |
| 2020 | $2.1M | $2.0M | $5.0M | $3.3M | — | — |
| 2019 | $2.5M | $1.8M | $5.0M | $3.4M | — | View 990 |
| 2018 | $2.1M | $2.0M | $4.7M | $3.7M | — | View 990 |
| 2017 | $1.9M | $1.7M | $4.7M | $3.8M | — | — |
| 2016 | $1.7M | $1.7M | $4.0M | $3.3M | — | View 990 |
| 2015 | $1.5M | $1.4M | $2.9M | $2.3M | — | View 990 |
| 2014 | $1.3M | $1.2M | $2.0M | $1.5M | — | View 990 |
| 2013 | $919K | $1.3M | $1.8M | $1.8M | — | View 990 |
| 2012 | $1.1M | $1.0M | $1.9M | $1.6M | — | View 990 |
| 2011 | $1.1M | $996K | $1.9M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.6M, expenses of $3.2M, and assets of $5.4M (revenue +29.0% year-over-year).
- 2022: Revenue of $2.8M, expenses of $2.6M, and assets of $5.1M (revenue -4.9% year-over-year).
- 2021: Revenue of $3.0M, expenses of $2.3M, and assets of $5.1M (revenue +43.0% year-over-year).
- 2020: Revenue of $2.1M, expenses of $2.0M, and assets of $5.0M (revenue -16.1% year-over-year).
- 2019: Revenue of $2.5M, expenses of $1.8M, and assets of $5.0M (revenue +19.6% year-over-year).
- 2018: Revenue of $2.1M, expenses of $2.0M, and assets of $4.7M (revenue +7.2% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.7M, and assets of $4.7M (revenue +11.8% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.7M, and assets of $4.0M (revenue +12.3% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.4M, and assets of $2.9M (revenue +17.2% year-over-year).
- 2014: Revenue of $1.3M, expenses of $1.2M, and assets of $2.0M (revenue +42.6% year-over-year).
- 2013: Revenue of $919K, expenses of $1.3M, and assets of $1.8M (revenue -15.5% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.0M, and assets of $1.9M (revenue -5.0% year-over-year).
- 2011: Revenue of $1.1M, expenses of $996K, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Old Friends Inc:
Data Sources and Methodology
This transparency report for Old Friends 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.