Is St Andrews Housing Dev Fund Co Legit?

St Andrews Housing Dev Fund Co exhibits consistent operational patterns, with revenues generally slightly below expenses in recent years, as seen in the 202309 period where revenue was $1,652,075 against expenses of $1,733,075. This trend suggests the organization is either drawing down reserves or relying on other funding sources not fully captured in the 'revenue' line item to cover its operational costs. The organization's assets have shown a gradual decline from $7,629,157 in 2015 to $5,400,730 in 2023, while liabilities have remained substantial, often exceeding assets, indicating a leveraged financial structure. The consistent reporting of 0% officer compensation across all available filings suggests either a volunteer-led executive team or that executive compensation is not reported in a way that is easily identifiable as 'officer compensation' on the 990, which could impact transparency. Without a detailed breakdown of expenses into program, administrative, and fundraising categories, it's challenging to fully assess spending efficiency. However, the consistent operational deficit warrants closer examination to understand its long-term sustainability and funding model.