Is Agena Legit?

Agena demonstrates a highly variable financial performance over the past decade, with revenues fluctuating significantly year-to-year. For instance, revenue jumped from $338,883 in 2018 to $10,771,624 in 2019, and then to $21,904,761 in 2021, before a sharp drop to $277,638 in 2022 and a rebound to $19,123,586 in 2023. This volatility makes consistent financial planning and assessment challenging. Despite these fluctuations, the organization has consistently grown its assets, reaching $122,571,577 in the latest period, indicating strong asset accumulation. Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, a notable observation is the extremely low reported expenses in several periods relative to revenue, such as $20,991 in expenses against $2,667,800 in revenue in 2015, or $26,243 in expenses against $19,123,586 in revenue in 2023. This suggests that a significant portion of revenue is not being spent on operational activities in the same fiscal year, potentially being held as assets or invested. The NTEE code P11 (Housing Development, Construction & Management) suggests capital-intensive activities, which might explain the asset growth and lower operational expenses relative to revenue. Transparency regarding executive compensation is high, as the organization consistently reports 0% officer compensation across all available filings. This indicates that no compensation is paid to officers, or it is not reported in a way that is captured by this metric. Further investigation into the nature of their operations and how expenses are categorized would be beneficial to fully understand their spending efficiency and program delivery given the NTEE code.