Is Westmoreland Apartments Inc Legit?

Westmoreland Apartments Inc, operating as a housing support organization (NTEE L22), demonstrates consistent financial activity, though it has reported net losses in recent years. For the 202309 period, the organization reported revenues of $135,490 against expenses of $213,477, resulting in a deficit. This trend of expenses exceeding revenue has been consistent across all provided filings, indicating a reliance on existing assets or other non-revenue funding sources to cover operational costs. Despite these operational deficits, the organization maintains substantial assets, reported at $1,899,666 in 202309, with relatively low liabilities of $15,725, suggesting a strong balance sheet. The organization's transparency is bolstered by its consistent IRS 990 filings over 14 periods, providing a clear historical financial record. A notable aspect is the consistent reporting of 0% officer compensation across all available filings, which indicates either a volunteer-led executive team or compensation being reported under other expense categories, though the former is more likely given the consistent zero reporting. This practice, if truly volunteer-based, contributes positively to its efficiency from a compensation perspective. However, the persistent operational deficits warrant closer examination to understand their long-term sustainability and funding strategy.