AI Transparency Report
The Tortie Foundation exhibits a concerning financial trend, with expenses consistently exceeding revenue in recent years. For example, in 2023, expenses were $8,662 against revenue of $2,533, and in 2022, expenses were $7,157 against revenue of $2,455. This indicates a reliance on prior assets or other funding sources not reflected in annual revenue to cover operational costs. The organization's assets have also shown a steady decline from a high of $60,379 in 2014 to $35,220 in 2023, suggesting that the deficit spending is eroding its financial reserves.
Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which is not provided in the summary data. However, the consistent net loss raises questions about the sustainability of its current operational model. The absence of officer compensation across all reported periods suggests a volunteer-driven leadership, which can be a positive for efficiency, but the overall financial picture remains challenging.
Transparency appears adequate in terms of filing its IRS 990s, as evidenced by the 10 filings. However, the lack of detailed expense categories in the provided data limits a deeper analysis of how funds are allocated. The organization's small scale (latest revenue $2,533) means that even minor fluctuations can have a significant impact on its financial health.