Is Connecticut Apartment Association Legit?

The Connecticut Apartment Association demonstrates a generally healthy financial trajectory, with recent filings showing significant growth in revenue and assets. For the period ending June 2023, the organization reported revenue of $370,468 against expenses of $273,751, resulting in a surplus that contributed to an increase in assets to $509,675. This positive trend is a notable improvement from previous years, where revenue was often closer to or below expenses. The organization's liabilities have fluctuated, with a notable $126,883 in the latest filing, which warrants monitoring but is not immediately concerning given the asset growth. Spending efficiency appears strong, particularly with the consistent reporting of 0% officer compensation across all available filings, suggesting that executive leadership is either volunteer-based or compensated through other means not categorized as officer compensation. This practice can free up more funds for programmatic activities. The consistent growth in assets, from $286,075 in 2022 to $509,675 in 2023, indicates effective financial management and accumulation of resources. The organization's NTEE code S40 (Business & Commerce Organizations) suggests its programs likely involve advocacy, education, or networking for its members. While the provided data doesn't offer a detailed breakdown of program, administrative, and fundraising expenses, the overall financial health, marked by increasing revenue and assets, along with zero reported officer compensation, points to a well-managed organization. Further transparency on specific expense categories would enhance a complete assessment of spending efficiency and program impact. However, the consistent filing of IRS 990s over 12 periods demonstrates a commitment to regulatory transparency.