Is Thea Bowman House Inc Legit?

Thea Bowman House Inc. demonstrates a generally healthy financial trajectory, with consistent revenue growth over the past several years, culminating in $2,961,320 in the 2023 period. The organization has also shown a strong ability to manage expenses, with the 2023 expenses of $2,106,987 being significantly lower than revenue, leading to a substantial surplus. This surplus has contributed to a notable increase in assets, growing from $483,594 in 2014 to $1,964,799 in 2023, indicating sound financial management and accumulation of resources. The organization's spending efficiency appears robust, particularly given the consistent surpluses in recent years. With no reported officer compensation across all available filings, this suggests a strong focus on directing resources towards its mission rather than executive salaries. The low liabilities relative to assets, such as $80,437 in liabilities against $1,964,799 in assets in 2023, further underscore financial stability and responsible fiscal practices. The consistent filing of IRS 990 forms over 13 periods indicates a commitment to transparency. While specific program spending percentages are not provided in the raw data, the absence of officer compensation and the consistent surpluses suggest that a significant portion of funds is likely allocated to programmatic activities. The growth in assets also provides a buffer for future operations and program expansion. Overall, Thea Bowman House Inc. appears to be a financially stable and efficiently managed nonprofit.