AI Transparency Report
Affinity Federal Credit Union Foundation Inc. demonstrates a fluctuating financial performance over the past few years. In 2023, the organization reported revenue of $259,673 against expenses of $329,172, indicating a deficit for the year. This trend of expenses exceeding revenue was also observed in 2022, with $398,525 in revenue and $441,593 in expenses. While the foundation's assets have generally grown, reaching $734,190 in 2023, the increasing liabilities, which jumped from $0 in 2021 to $264,032 in 2023, warrant closer examination. The consistent reporting of 0% officer compensation across all available filings suggests good governance regarding executive pay, especially for a foundation of this size.
The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses from the provided data. However, the consistent operational deficits in recent years (2023 and 2022) suggest that the foundation is spending more than it is bringing in, which is not sustainable long-term. The NTEE code T30 indicates a focus on credit unions, which aligns with its name. Transparency appears to be adequate through its regular IRS 990 filings, which consistently report key financial metrics and zero officer compensation.
Overall, while the foundation maintains a healthy asset base, its recent operational deficits and growing liabilities are areas of concern that could impact its long-term financial health and ability to fulfill its mission. A deeper dive into the nature of its expenses would be beneficial to understand its spending efficiency.