AI Transparency Report
Washington County Residences demonstrates consistent financial operations, with revenues steadily increasing over the past decade, from $184,067 in 2015 to $225,837 in 2024. The organization consistently operates with a surplus, as seen in the 2024 period where revenue of $225,837 exceeded expenses of $197,252. This indicates sound financial management and an ability to cover its operational costs.
However, a significant concern is the organization's high liabilities relative to its assets. In 2024, liabilities stood at $478,132 against assets of $266,952, indicating a negative net asset position. This trend has been consistent over the years, with liabilities consistently exceeding assets. While the organization has no reported officer compensation, which speaks to a volunteer-driven leadership, the overall financial structure with substantial liabilities warrants closer examination regarding long-term sustainability and funding sources.
Regarding transparency, the consistent filing of IRS Form 990s over 13 periods is a positive indicator. The absence of officer compensation also suggests a commitment to directing funds towards the mission rather than executive salaries. However, without a detailed breakdown of expenses beyond total revenue and expenses, it's challenging to fully assess spending efficiency across programs, administration, and fundraising.