Is Woodmere Club Inc Legit?

Woodmere Club Inc. exhibits a highly unusual financial profile for a nonprofit, particularly its consistent reporting of zero assets and liabilities in its latest filing (201704) despite significant revenue of $5,239,503. This contrasts sharply with prior years where substantial assets (e.g., $9,861,051 in 201510) and liabilities were reported. The organization's revenue has been consistently in the multi-million dollar range, with the latest reported revenue at $5,298,951. The significant drop in reported expenses from $5,533,875 in 201510 to $1,699,324 in 201704, alongside the zeroing out of assets and liabilities, raises significant questions about the nature of its operations and financial reporting. Without further context or clarification, this financial presentation severely impacts transparency and makes a standard assessment of financial health challenging. The organization's spending efficiency is difficult to ascertain given the inconsistencies in asset and liability reporting. While the latest filing shows expenses significantly lower than revenue, suggesting a surplus, the overall financial picture is obscured by the dramatic changes in balance sheet reporting. The absence of reported officer compensation across all filings, despite multi-million dollar revenues, is also noteworthy and could indicate a volunteer-led structure or that compensation is reported differently. The lack of an NTEE code further hinders understanding its mission and comparing its financial performance to peers. Overall, Woodmere Club Inc.'s financial transparency is severely compromised by the inconsistent and unusual reporting of its balance sheet, particularly the sudden disappearance of all assets and liabilities in its most recent filing. This makes it challenging to confidently assess its financial health, spending efficiency, or long-term sustainability. A deeper investigation into the reasons behind these reporting changes would be necessary for a comprehensive understanding.