Is Binghamton Broome County Y M C A Legit?

The Binghamton Broome County Y M C A has experienced fluctuating financial health over the past decade. While revenue has generally been in the $3-4 million range, the organization has frequently reported expenses exceeding revenue, leading to net losses in several years, including $534,531 in 2023 and $638,910 in 2022. This consistent deficit spending raises concerns about long-term sustainability, despite a strong asset base relative to liabilities in some periods. 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 suggest that current revenue streams are not adequately covering operational costs. The organization's transparency regarding executive compensation is high, with 0% reported for officer compensation across all available filings, which is unusual for an organization of this size and may indicate that key leadership roles are compensated through other means or that the reporting structure is unique. Overall, while the organization maintains a significant asset base, the pattern of spending more than it earns is a critical area for improvement. A deeper dive into expense categories would be necessary to fully evaluate spending efficiency and program impact. The lack of reported officer compensation is a notable point regarding transparency, requiring further investigation to understand the full compensation structure for leadership.