Is Norfolk Education Foundation Legit?

The Norfolk Education Foundation demonstrates a generally stable financial position with consistent revenue streams over the past several years, averaging around $200,000 annually. In the most recent filing (201706), the organization reported revenue of $233,182 against expenses of $138,538, resulting in a surplus that contributed to an increase in assets to $422,163. This indicates sound financial management for that period. The organization consistently reports 0% officer compensation, which is a strong indicator of volunteer leadership and efficient use of funds for its mission. While specific program spending details are not provided in the summary data, the absence of officer compensation suggests a high potential for program efficiency. However, a deeper look at historical data reveals periods where expenses exceeded revenue, such as in 201606 ($257,513 expenses vs. $183,186 revenue) and 201506 ($284,899 expenses vs. $249,403 revenue). These deficits, while not catastrophic given the asset base, suggest that financial performance can fluctuate. The organization's liabilities have remained relatively low, peaking at $21,044 in 201406 and dropping to $1,008 in 201706, indicating good management of debt. The consistent asset base, hovering around $300,000-$400,000, provides a buffer against operational fluctuations. Overall, the Norfolk Education Foundation appears to be a financially stable organization with a strong commitment to volunteer leadership, as evidenced by zero officer compensation. While there have been periods of deficit spending, the most recent filing shows a healthy surplus and growing assets. Transparency is high regarding executive compensation, but a more detailed breakdown of program, administrative, and fundraising expenses would further enhance understanding of spending efficiency.