The Furniture Bank

Nonprofit profile at a glance

EIN
470907461
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Houston, TX, USA
Phone
7138429771
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$3,220,895
Expenses
$2,907,216
Assets
$3,610,169
Liabilities
$3,432,633

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

Leadership & pay

14 people listed

Highest reported compensation

  • OLI MOHAMMED (EXECUTIVE DI): $70,000 total reported compensation

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

Overview

Mission

The furniture bank is a charitable organization that collects and distributes furniture and home furnishings to those in need.

What it reported doing in 2024

The furniture bank is a charitable organization that collect distributes furniture and home furnishings free of charge or reduced in price for people in need that have received housing assistance through a social service agency or charity in the houston area. Services have been provided for over 24000 families since furniture bank's 1992 inception.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 95% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 94
  • Accountability: 63
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.5%; rating input score 91
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.7%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 1.24; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 5.4% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 91.5% of revenue deployed · 99.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.9M in reported program spending
  • Leadership: top reported pay $70K · 14 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.