Friends of Lbs Inc

Nonprofit profile at a glance

EIN
264100821
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2010
Location
North Myrtle Beach, SC, USA
Phone
8434482019
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other
Affiliation
Judaism

Reported finances

Revenue
$2,247,635
Expenses
$2,706,818
Assets
$6,074,857
Liabilities
$3,453,531

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • YISROEL WOLOSOW (PRESIDENT)

People named in this filing

  • JOSEPH SCHILDKRAUT (DIRECTOR OF EDUCATIONAL INITIATIVES)
  • SARA GINSBURG (SECRETARY/AGENT)
  • ESTHER PARSHAN (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To raise public funds to distribute in the support of higher education opportunities for jewish youth through scholarships and charitable giving to educational institutions.

What it reported doing in 2024

To raise public funds to distribute in the support of higher education opportunities for jewish youth through scholarships and charitable giving to educational institutes.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 90% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 51
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 11th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -20.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 2.24; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 27.5% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 24.3% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 15.6% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.5% of spending went to programs
  • Governance: 6 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 24 of 26 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.