Is Alden Court Inc Legit?

Alden Court Inc. appears to be a financially distressed organization based on its latest available IRS 990 data. In the 2016 fiscal period, the organization reported revenue of $961,789 against expenses of $969,825, indicating a deficit. More concerning is the consistent negative net asset position across all reported periods, with liabilities significantly exceeding assets. For instance, in 2015, assets were $12,938,849 while liabilities stood at $16,120,331. The most recent filing shows zero assets and zero liabilities, which is an unusual and potentially concerning change from previous years' substantial figures, suggesting a significant restructuring or divestment that isn't fully explained by the provided data. This lack of clarity around the dramatic shift in asset reporting raises questions about financial transparency. The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, the consistent operational deficits across multiple years (e.g., $1,286,757 revenue vs. $1,320,204 expenses in 2015) suggest that the organization has struggled to cover its costs through its revenue streams. The absence of reported officer compensation across all filings could indicate either a volunteer-led executive team or that compensation is reported under other expense categories, which would impact the assessment of administrative efficiency. The overall financial health, particularly the persistent negative equity and the sudden disappearance of assets and liabilities in the latest filing, points to significant financial challenges.