Is Agate Housing And Services Inc Legit?

Agate Housing And Services Inc demonstrates a generally stable financial position, with revenues consistently in the range of $12 million to $20 million over the past decade. While the organization experienced a deficit in the most recent filing period (202306) with expenses exceeding revenue by approximately $1.95 million, this follows several years of strong revenue generation and asset growth. The organization's assets have grown significantly from $3.7 million in 2014 to over $17.6 million in 2023, indicating a healthy accumulation of resources. Liabilities have also increased but remain manageable relative to assets. Spending efficiency appears to be a strong point, with a significant portion of expenses directed towards program services. The absence of reported officer compensation across all filings suggests a commitment to directing funds towards its mission rather than high executive salaries, which is a positive indicator for donors. The organization's consistent filing history and detailed financial data contribute to its transparency. Overall, Agate Housing And Services Inc appears to be a financially sound organization with a strong focus on its mission, as evidenced by its program spending and lack of executive compensation. The recent deficit warrants monitoring but does not immediately suggest a systemic issue given the organization's overall financial trajectory and asset base.