Is Cardigan Mountain School Legit?

Cardigan Mountain School demonstrates a generally stable financial position with consistent revenue streams and substantial assets. Over the past decade, the organization has maintained a healthy asset base, growing from $61.5 million in 2014 to $85.1 million in 2023. While there have been fluctuations in annual revenue and expenses, the school typically operates with a surplus, as seen in 2022 where revenue of $28.6 million exceeded expenses of $21.5 million. However, the most recent filing (2023) shows expenses of $22.9 million slightly exceeding revenue of $21.9 million, indicating a minor deficit for that period. The organization's transparency is commendable, particularly regarding executive compensation. The consistent reporting of 0% for officer compensation across all available filings suggests that key officers are either uncompensated or compensated through other means not categorized as 'officer compensation' on the 990, or that the school's structure does not involve reportable officer compensation in the typical sense. This level of detail, or lack thereof, warrants further investigation to fully understand the compensation structure for its leadership. Spending efficiency appears reasonable, with expenses generally aligning with revenue. The consistent growth in assets over the long term indicates sound financial management and investment strategies. The school's ability to maintain a significant asset base while delivering its educational programs suggests a sustainable operational model, though the recent deficit in 2023 bears watching.