Is Opengate Inc Legit?

Opengate Inc, a large nonprofit based in Armonk, NY, demonstrates consistent financial operations with revenues generally exceeding or closely matching expenses over the past decade. For instance, in 2022, revenue was $25,957,874 against expenses of $25,839,192, indicating a balanced budget. While the latest filing (2023) shows a slight deficit with expenses of $23,414,813 exceeding revenue of $23,054,077, this is a minor fluctuation in the context of its overall financial stability and substantial asset base of $22,804,402. The organization's assets have grown steadily from $18,740,992 in 2014 to $22,804,402 in 2023, suggesting sound financial management and capacity building. One notable aspect of Opengate Inc's financial health is the consistent reporting of 0% officer compensation across all available filings. This indicates that the organization's leadership is either unpaid or compensated through other means not categorized as 'officer compensation' on the 990, which could be a strong indicator of dedication to its mission and efficient use of funds. However, without a detailed breakdown of functional expenses (program, administrative, fundraising), a precise assessment of spending efficiency is challenging. The consistent growth in revenue and assets, coupled with minimal liabilities relative to assets (e.g., 2023 liabilities of $7,864,842 against assets of $22,804,402), points to a financially robust organization. For a more complete transparency assessment, access to the full 990 forms detailing functional expenses would be beneficial. However, based on the provided summary data, Opengate Inc appears to be a financially stable organization with a strong asset base and a commendable approach to executive compensation, contributing positively to its overall transparency and financial health.