Is Skating Association Of Maine Legit?

The Skating Association Of Maine demonstrates consistent financial health with a positive net income in most recent years, indicating sound fiscal management. For example, in 2023, revenue was $385,760 against expenses of $374,375, resulting in a surplus. The organization has also shown steady asset growth, increasing from $95,133 in 2014 to $307,388 in 2023, suggesting responsible accumulation of resources. Their liabilities have consistently been reported as $0 across all available filings, which is a strong indicator of financial stability and low risk. Spending efficiency appears high, as evidenced by the consistent surpluses and growth in assets. Without a detailed breakdown of program, administrative, and fundraising expenses in the provided data, it's challenging to precisely quantify efficiency ratios. However, the overall financial picture suggests that the organization is managing its funds effectively to support its operations. The absence of officer compensation reported across all filings also points to a lean operational structure, potentially maximizing funds available for programs. Transparency is strong regarding executive compensation, with 0% reported officer compensation in all available filings. The consistent filing of IRS Form 990s over 13 periods also demonstrates a commitment to public disclosure. The lack of reported liabilities further enhances their transparency profile, as it indicates a clear and unencumbered financial position.