Libbys Friends FY2022 filing

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EIN 84-4959437 Public charity (501(c)(3)) Mountain Brook, AL NTEE E12
Form 990 (PDF)

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Revenue & expenses by yearFY2022–FY2025
Revenue
$331K
FY2022
Expenses
$175K
FY2022

Form 990 for the fiscal year ending December 2022 (IRS tax year 2022).


Helps families afford essential equipment and therapies for children with special needs. For fiscal year 2022 it reported $331K in revenue, $175K in expenses, and $192K in net assets.Pt I

Founded
2020
Type
Public charity (501(c)(3)) · Health Care
Location
Mountain Brook, AL
Website
www.libbysfriends.org
Filings
4 on file (2022–2022)
Revenue
$331KFY2022
Expenses
$175K
Net assets
$192K
People
6
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Provided by the organization

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Size
$100K–1M
What they do
Helps families afford essential equipment and therapies for children with special needs.
Leadership
Lane Hagan · Executive Dir. · $15K
Money in and out
$331K revenue, $175K expenses
Bottom line
78% program efficiency
Where the money goes · FY2022
Total revenue
$331K
Pt VIII · Ln 12
Total expenses
$175K
Pt IX · Ln 25
Net assets
$192K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $156K
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.02 Fundraising $0.20
Program efficiency
78%
of spending reaches programs
Operating runway
13.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+47%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$192K
FY2022
Total liabilities
$0
FY2022
Revenue less expensesPt I · Ln 19$156K
Total assetsPt X · Ln 16$192K
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CLibbys Friends
EINHdr · item D84-4959437
Principal addressHdr · item CMountain Brook, AL
WebsiteHdr · item Jwww.libbysfriends.org
Year of formationHdr · item L2020
State of legal domicileHdr · item MAL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHealth Care (E12)
Ruling yearIRS BMFSep 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$15,000Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022
Lane Hagan$27,000$30,000$15,000$15,000
Emily Clifford$6,000$6,000$5,000—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $137K of program spending, described in the organization's own filed words · FY2022.
01

Amounts paid on behalf of families in 2022, assisting in the medical care for families in need.

$125Kprogram expense
02

Compensation paid to executive director for work performed in reviewing and approving assistance provided to families by the organization

$7Kprogram expense
03

Grants and donations to other non-profits with similar missions to Libby's Friends

$5Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue100%$331K
Investment income$630
Total revenueLn 12$331K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.02 Fundraising $0.20
Program services78%$137K
Management & general2%$3K
Fundraising20%$35K
Total functional expensesLn 25$175K

Balance Sheet

Part X · end of year
CashLn 1$192K
Total assetsLn 16$192K
Total liabilitiesLn 26$0
Total net assetsLn 32$192K
Months of cash on handcomputed13.2

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $192K · Operating expenses/yr $175K
13.2 months
Where the money goes
Program services
Program services $137K · Total expenses $175K
78%
Management & General
Management & general $3K · Total expenses $175K
2%
Fundraising
Fundraising $35K · Total expenses $175K
20%
Cost to raise $1
Fundraising expense $35K · Solicited contributions $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $331K
0%
Government reliance
Government grants — · Total revenue $331K
—
Earned-income share
Program service revenue $331K · Total revenue $331K
100%
Investment reliance
Investment income $630 · Total revenue $331K
+0.2%
Program self-sufficiency
Program service revenue $331K · Total expenses $175K
189%
Growth & trend
Revenue growth (YoY)
This year $331K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $192K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $331K · Expenses $175K
+47%
Liabilities-to-Assets
Total liabilities — · Total assets $192K
—
Net-asset ratio
Net assets $192K · Total assets $192K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $192K
0%
People & payroll
Highest Reported Total Compensation
Individual Lane Hagan · Reported title Executive Dir. · Highest reported compensation $15K · Total expenses $175K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $15K · Total expenses $175K
9%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 78%——
Overhead ratio 2%——
Investment management fee ratio 0%——
Legal fee ratio 0.6%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$55K
Grants paid · 5 grants · $1.5M · 2022–2025
Unitemized GrantFY2025$679,992
Unitemized GrantFY2024$433,377
Birmingham AmbucsFY2024$10,000
Unitemized GrantFY2023$280,590
Unitemized GrantFY2022$124,892

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$715K revenue · ⤓ 990 PDF
FY2024$436K revenue · ⤓ 990 PDF
FY2023$426K revenue · ⤓ 990 PDF
FY2022$331K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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