Is Ogunguit Chamber Of Commerce Legit?

The Ogunquit Chamber of Commerce demonstrates a generally stable financial position, with assets showing significant growth over the past few years, nearly tripling from $547,925 in 2019 to $1,443,093 in 2023. Revenue has fluctuated, with a notable spike to $980,197 in 2023, which is significantly higher than previous years' average of around $300,000-$400,000. This spike, coupled with expenses of $365,866 in the same year, indicates a substantial surplus for 2023, contributing to asset growth. The organization consistently reports 0% officer compensation, which is a strong indicator of transparency and a focus on mission-related spending rather than executive enrichment. While specific program spending percentages are not detailed in the provided data, the consistent reporting of expenses relative to revenue suggests operational stability. The significant increase in liabilities in 2022 and 2023 (from $114,768 in 2019 to $365,560 in 2022 and $296,258 in 2023) warrants further investigation to understand their nature and impact on long-term financial health. Overall, the Chamber appears to be financially healthy, especially with the strong 2023 performance. The consistent lack of officer compensation enhances its transparency profile. However, understanding the nature of the increased liabilities would provide a more complete picture of its financial commitments.