Is Kendal On Hudson Legit?

Kendal On Hudson demonstrates consistent financial growth, with revenue increasing from $27.7 million in 2014 to over $40 million in 2023. The organization consistently operates with expenses closely aligned to revenue, indicating a stable operational model. For instance, in 2023, revenue was $40,214,794 against expenses of $36,019,286, resulting in a surplus. However, a notable aspect is the consistent reporting of liabilities exceeding assets across all available filings, such as $203,365,187 in liabilities versus $199,846,702 in assets in 2023. This suggests a reliance on long-term debt or other obligations, which warrants closer examination to understand the nature of these liabilities and their impact on long-term financial stability. The organization's NTEE code E91 indicates it is a continuing care retirement community, which often involves significant capital investments and long-term resident contracts that can influence asset and liability reporting. The absence of reported officer compensation across all filings is unusual for an organization of this size and revenue, potentially indicating that executive compensation is reported under other expense categories or that the officers are compensated by a related entity, which could impact transparency regarding leadership costs. Further detail on the allocation of expenses (programs, administration, fundraising) is needed for a complete assessment of spending efficiency, as the provided data only gives total expenses.