Is Somersworth Community Development Corporation Legit?

Somersworth Community Development Corporation demonstrates consistent financial stability with a healthy asset base and minimal liabilities. Over the past decade, the organization has shown steady growth in assets, increasing from $668,339 in 2014 to $905,067 in 2023. Revenue has generally outpaced expenses, with the most recent filing (2023) showing revenues of $37,288 against expenses of $10,162, indicating efficient operations and a surplus. The organization's liabilities have remained very low, consistently under $10,000, which is a strong indicator of financial health and responsible management. The organization's spending efficiency appears strong, as evidenced by the significant difference between revenue and expenses. With no reported officer compensation across all available filings, it suggests a volunteer-driven leadership, which can contribute to lower administrative costs. This structure likely allows a greater proportion of funds to be directed towards its community development mission. Transparency is high given the consistent filing of IRS Form 990s over 13 periods and the clear financial data provided. The absence of officer compensation is a notable point of transparency, indicating that the organization's leadership is not drawing salaries from its modest revenue. This commitment to volunteer leadership enhances public trust and demonstrates a strong dedication to its mission.