Is Alleghany Highlands Economic Development Corporation Legit?
Quick charity verification for Alleghany Highlands Economic Development Corporation (EIN: 161620392)
Verdict: Alleghany Highlands Economic Development Corporation appears trustworthy
90/100Mission Score
$195KRevenue
$371KAssets
1Red Flags
4Strengths
Red Flags
Significant decline in revenue over the past five years (from $579,290 in 2020 to $239,255 in 2023).
Strengths
Consistent 0% officer compensation across all filings, indicating high efficiency and transparency.
Assets have shown consistent growth, from $194,269 in 2019 to $316,663 in 2023, demonstrating financial stability.
Liabilities remain low relative to assets, indicating sound financial management.
Expenses generally kept below revenue, leading to positive net income in most years.
AI Transparency Report
The Alleghany Highlands Economic Development Corporation (AHEDC) demonstrates a consistent operational history with 13 filings, indicating a stable presence in its community. Over the past five years, the organization's revenue has shown a declining trend, from a high of $579,290 in 2020 to $239,255 in 2023. Despite this, expenses have generally remained below revenue, allowing for asset growth from $194,269 in 2019 to $316,663 in 2023. The organization's liabilities have remained relatively low compared to its assets, suggesting sound financial management. A notable strength is the consistent reporting of 0% officer compensation across all available filings, which speaks to a high level of financial transparency and a commitment to directing funds towards the organization's mission rather than executive salaries. This practice is highly commendable for a nonprofit.