Is Saco Valley Fire Association Legit?

The Saco Valley Fire Association demonstrates consistent financial stability and growth over the past decade, with assets steadily increasing from $197,531 in 2014 to $310,624 in 2023. The organization consistently operates with zero liabilities, indicating a very healthy balance sheet and responsible financial management. Revenue has shown significant fluctuations, peaking at $147,818 in 2022 and then decreasing to $145,733 in 2023, but generally trending upwards from $62,313 in 2014. The association's expenses have remained well within its revenue, with a notable surplus in most years, contributing to asset growth. For instance, in 2023, expenses were $137,907 against revenues of $145,733, resulting in a surplus. Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to provide a precise efficiency ratio. However, the consistent accumulation of assets and the absence of liabilities suggest that funds are being managed effectively to support the organization's mission. The lack of reported officer compensation further implies that resources are directed towards operational needs rather than executive salaries, which is a positive indicator for a volunteer-driven or small organization. The organization's financial health appears robust, with a strong capacity to sustain its operations. Transparency is generally good given the availability of 10 years of 990 filings. The consistent reporting of zero officer compensation is a key transparency point. However, the absence of an NTEE code and detailed expense breakdowns within the provided data limits a deeper analysis of program-specific spending efficiency. Further details on how expenses are categorized (e.g., direct program costs vs. overhead) would enhance the assessment of its spending efficiency and overall transparency.