AI Transparency Report
Legal Aid Society Of Mid New York Inc demonstrates a consistent commitment to its mission, as evidenced by its program spending. Over the past several years, the organization has shown significant growth in both revenue and expenses, indicating an expansion of its services. For instance, revenue grew from $5,061,110 in 2014 to $10,133,402 in 2023, nearly doubling. While the organization has experienced periods where expenses slightly exceeded revenue, such as in 2023 ($10,583,409 expenses vs. $10,133,402 revenue) and 2022 ($9,219,524 expenses vs. $8,585,256 revenue), this could be indicative of strategic investments or timing differences in grant funding. The organization's assets have also seen substantial growth, particularly between 2021 ($1,575,166) and 2022 ($7,524,799), and further to $8,415,083 in 2023, suggesting improved financial capacity.
The organization's financial health appears stable, with a notable increase in assets over the last two years. However, the significant increase in liabilities, reaching $9,256,346 in 2023, which now exceeds its assets of $8,415,083, warrants closer examination. This could be due to specific funding structures or capital projects, but it does present a potential area for concern regarding long-term solvency if not managed effectively. The consistent reporting of 0% officer compensation across all filings suggests a strong focus on directing funds towards programmatic activities rather than executive salaries, which is a positive indicator of spending efficiency and transparency.
Overall, Legal Aid Society Of Mid New York Inc appears to be a financially active and growing organization. Its consistent program focus and lack of reported officer compensation are strong points. However, the recent trend of liabilities exceeding assets should be monitored to ensure sustainable financial practices.