Furnish For Good Inc

Nonprofit profile at a glance

EIN
842758965
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
7044456838
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Support

Reported finances

Revenue
$1,013,558
Expenses
$942,038
Assets
$815,654
Liabilities
$6,580

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

Leadership & pay

15 people listed

Executive titles in this filing

  • Maggie Morton (Executive Director)

Highest reported compensation

  • Maggie Morton (Executive Director): $126,567 total reported compensation

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

Overview

Mission

To connect furniture and household goods to individuals and families transitioning out of homelessness, poverty and other dire circumstances through the effective re-use of quality furniture and household donations.

What it reported doing in 2024

Provided furniture and household goods to 516 adults and 381 children during the fiscal year. Furnish for Good connects well-loved home furnishings to underserved communities through an experience of empowerment. Rather than simply donating the items, Furnish for Good curates and showcases them so that recipients receive more than home furnishings they receive self-respect and dignity.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 94
  • Accountability: 61
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.4%; rating input score 89
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: $20.49 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 20th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.1%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 38.7% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 26.9% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 25.3% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 89.4% of revenue deployed · 96% of spending went to programs
  • Governance: 12 of 14 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $904K in reported program spending
  • Leadership: top reported pay $127K · 15 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 59/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.