AI Transparency Report
The Fairhaven Residents Association Inc. demonstrates a consistent financial pattern, operating with revenues generally in line with or slightly below expenses in recent years. For example, in 2023, revenue was $175,201 against expenses of $183,472, and in 2022, revenue was $168,567 against expenses of $186,823. This indicates a tight operational budget, though the organization maintains a healthy asset base, with $446,915 in assets in 2023 and $452,394 currently. The consistent reporting of zero liabilities in most recent filings (2017-2023) suggests strong financial management regarding debt. The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 13 filings available, indicating a commitment to public disclosure. The absence of officer compensation further enhances its transparency and suggests a volunteer-driven leadership structure, which is common for smaller community associations.