Bangor Area Homeless Shelter
Bangor Area Homeless Shelter consistently grows revenue and assets with no reported officer compensation.
EIN: 10412267 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $1.0M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $2.1M |
| Transparency Score | 88/100 |
Is Bangor Area Homeless Shelter Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bangor Area Homeless Shelter directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bangor Area Homeless Shelter
Bangor Area Homeless Shelter (EIN: 10412267) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $1.3M and total assets of $3.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bangor Area Homeless Shelter's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bangor Area Homeless Shelter is a mid-size nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.0M |
| Surplus / Deficit | +$322K |
| Total Assets | $2.6M |
| Total Liabilities | $487K |
| Net Assets | $2.1M |
| Operating Margin | 24.0% |
| Debt-to-Asset Ratio | 19.0% |
| Months of Reserves | 30.2 months |
Financial Health Grade: A
In 2023, Bangor Area Homeless Shelter reported a surplus of $322K with revenue exceeding expenses, holds 30.2 months of operating reserves (strong position), has a debt-to-asset ratio of 19.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bangor Area Homeless Shelter's revenue has grown at a compound annual growth rate (CAGR) of 6.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.9% | +4.7% | +18.0% |
| 2022 | +15.4% | +5.3% | +11.3% |
| 2021 | +3.4% | +1.8% | +23.5% |
| 2020 | +37.9% | +5.6% | +15.5% |
| 2019 | +0.8% | -0.3% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bangor Area Homeless Shelter with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Bangor Area Homeless Shelter allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $322K, with revenue exceeding expenses.
- Debt-to-asset ratio: 19.0%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation across all available periods, which is highly unusual for an organization of this size with over $1 million in annual revenue. This either indicates that executive leadership is entirely volunteer-based, or that compensation is categorized differently within the expense structure, which could obscure a complete view of executive pay.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bangor Area Homeless Shelter's IRS 990 filings:
- 0% Officer Compensation reported across all filings, which is unusual for an organization of this size and may indicate compensation is reported elsewhere, potentially obscuring transparency.
Strengths
The following positive indicators were identified for Bangor Area Homeless Shelter:
- Consistent revenue growth, from $847,215 in 2019 to $1,340,925 in 2023.
- Healthy asset growth, from $1,368,714 in 2019 to $2,565,273 in 2023, indicating strong financial stability.
- Expenses consistently below revenue, demonstrating sound financial management.
- Positive net assets growth, from $1,104,341 in 2019 to $2,077,911 in 2023, building reserves for future operations.
Frequently Asked Questions about Bangor Area Homeless Shelter
Is Bangor Area Homeless Shelter a legitimate charity?
Bangor Area Homeless Shelter (EIN: 10412267) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.3M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Bangor Area Homeless Shelter spend its money?
Bangor Area Homeless Shelter directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bangor Area Homeless Shelter tax-deductible?
Bangor Area Homeless Shelter is registered as a tax-exempt nonprofit (EIN: 10412267). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bangor Area Homeless Shelter CEO make?
Bangor Area Homeless Shelter's highest-compensated officer earns $1 annually. The organization reported $1.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Bangor Area Homeless Shelter's spending goes to programs?
Bangor Area Homeless Shelter directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Bangor Area Homeless Shelter located?
Bangor Area Homeless Shelter is headquartered in Bangor, Maine and files with the IRS under EIN 10412267.
How many years of IRS 990 filings does Bangor Area Homeless Shelter have?
Bangor Area Homeless Shelter has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.3M in total revenue.
Is Bangor Area Homeless Shelter a good charity?
Based on the provided financial data, Bangor Area Homeless Shelter appears to be a financially healthy and well-managed organization. It consistently generates more revenue than expenses, leading to asset growth, and reports no officer compensation, which is a strong positive indicator of resource allocation towards its mission.
How has the organization's financial health changed over time?
The organization's financial health has steadily improved. Revenue has grown from $847,215 in 2019 to $1,340,925 in 2023, and assets have increased from $1,368,714 to $2,565,273 in the same period, demonstrating consistent growth and stability.
What is the organization's approach to executive compensation?
The IRS 990 filings consistently show 0% officer compensation for all reported periods. This suggests either a volunteer-led executive team or that executive compensation is reported under other expense categories, which would require further investigation for clarity.
Filing History
IRS 990 filing history for Bangor Area Homeless Shelter showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bangor Area Homeless Shelter's revenue has grown by 121.8%, moving from $605K to $1.3M. Total assets increased by 109.1% over the same period, from $1.2M to $2.6M. Total functional expenses rose by 74%, from $586K to $1.0M. In its most recent filing year (2023), Bangor Area Homeless Shelter reported a surplus of $322K, with revenue exceeding expenses. The organization holds $487K in liabilities against $2.6M in assets (debt-to-asset ratio: 19.0%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.0M | $2.6M | $487K | — | View 990 |
| 2022 | $1.4M | $973K | $2.2M | $419K | — | View 990 |
| 2021 | $1.2M | $924K | $2.0M | $331K | — | — |
| 2020 | $1.2M | $907K | $1.6M | $293K | — | View 990 |
| 2019 | $847K | $860K | $1.4M | $264K | — | View 990 |
| 2018 | $840K | $862K | $1.4M | $265K | — | View 990 |
| 2017 | $840K | $840K | $1.4M | $260K | — | View 990 |
| 2016 | $820K | $934K | $1.4M | $32K | — | View 990 |
| 2015 | $769K | $703K | $1.5M | $75K | — | View 990 |
| 2014 | $729K | $718K | $1.5M | $68K | — | View 990 |
| 2013 | $661K | $640K | $1.4M | $42K | — | View 990 |
| 2012 | $667K | $602K | $1.3M | $53K | — | View 990 |
| 2011 | $605K | $586K | $1.2M | $44K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.0M, and assets of $2.6M (revenue -3.9% year-over-year).
- 2022: Revenue of $1.4M, expenses of $973K, and assets of $2.2M (revenue +15.4% year-over-year).
- 2021: Revenue of $1.2M, expenses of $924K, and assets of $2.0M (revenue +3.4% year-over-year).
- 2020: Revenue of $1.2M, expenses of $907K, and assets of $1.6M (revenue +37.9% year-over-year).
- 2019: Revenue of $847K, expenses of $860K, and assets of $1.4M (revenue +0.8% year-over-year).
- 2018: Revenue of $840K, expenses of $862K, and assets of $1.4M (revenue +0.0% year-over-year).
- 2017: Revenue of $840K, expenses of $840K, and assets of $1.4M (revenue +2.5% year-over-year).
- 2016: Revenue of $820K, expenses of $934K, and assets of $1.4M (revenue +6.6% year-over-year).
- 2015: Revenue of $769K, expenses of $703K, and assets of $1.5M (revenue +5.4% year-over-year).
- 2014: Revenue of $729K, expenses of $718K, and assets of $1.5M (revenue +10.4% year-over-year).
- 2013: Revenue of $661K, expenses of $640K, and assets of $1.4M (revenue -0.9% year-over-year).
- 2012: Revenue of $667K, expenses of $602K, and assets of $1.3M (revenue +10.3% year-over-year).
- 2011: Revenue of $605K, expenses of $586K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bangor Area Homeless Shelter:
Data Sources and Methodology
This transparency report for Bangor Area Homeless Shelter is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.