Or perhaps they just want to build a thing for fun and not satisfy arbitrary demands for professionalism. It’s a hobby. Why would they want to create detailed reports for a board of directors?
The problem with your analysis is you are taking that budget they show and assuming it is correct and that they have not lied, and when investigating fraud a necessary component of any fraud is lying about what you've done. Forensic accountants catch people because certain practices are followed, such as double entry-accounting and regular cash flow statements.
What they have posted, is based on their say so with no supporting documentation and that document has been updated a few times, but not regularly as one would expect happens during a normal course of charity business (quarterly or annually). I've never heard of a legitimate charity that doesn't regularly have an independent auditor look over their books every few years and certify there are no inconsistencies (at a bare minimum).
All I was saying is, there are a lot of questions, and no solid information to draw any conclusions from.
They are a charity, and accept monetary donations, and many of these things are required practices for charities to combat and detect fraud.
If they wanted to run it as a hobby they don't have to accept donations or receive beneficial tax status, but then they wouldn't be making money.