Bradford Housing Corporation
Bradford Housing Corporation consistently operates with modest revenue, no executive compensation, and recurring operational deficits.
EIN: 10332278 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $206K |
| Total Expenses | $225K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $-141,904 |
| Transparency Score | 75/100 |
Is Bradford Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bradford Housing Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bradford Housing Corporation
Bradford Housing Corporation (EIN: 10332278) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $206K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bradford Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bradford Housing Corporation is a small nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $196K |
| Total Expenses | $225K |
| Surplus / Deficit | $-28,083 |
| Total Assets | $1.2M |
| Total Liabilities | $1.3M |
| Net Assets | $-141,904 |
| Operating Margin | -14.3% |
| Debt-to-Asset Ratio | 111.9% |
| Months of Reserves | 63.8 months |
Financial Health Grade: C
In 2023, Bradford Housing Corporation reported a deficit of $28K with expenses exceeding revenue, holds 63.8 months of operating reserves (strong position), has a debt-to-asset ratio of 111.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bradford Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 0.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.8% | -6.3% | -2.0% |
| 2022 | -0.7% | +9.7% | -3.8% |
| 2021 | -1.2% | +16.1% | +2.1% |
| 2020 | -5.3% | -6.1% | +56.6% |
| 2019 | +2.8% | -2.1% | +2.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1978 |
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 Bradford Housing Corporation with a Mission Score of 75 out of 100 (Good). 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, Bradford Housing Corporation 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 deficit of $28K, with expenses exceeding revenue.
- Debt-to-asset ratio: 111.9%.
Executive Compensation Analysis
Executive compensation has been consistently reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization. This is highly unusual for an organization with over $1 million in assets and suggests a volunteer-led or externally funded leadership structure, which is a strong positive for directing funds to its mission.
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 Bradford Housing Corporation's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) in recent years, impacting net assets.
- Liabilities consistently exceed assets, indicating a potentially high debt burden or specific financial structure that needs further investigation.
- NTEE code is unknown, which limits understanding of its specific programmatic focus and peer comparisons.
Strengths
The following positive indicators were identified for Bradford Housing Corporation:
- Zero reported officer compensation across all filings, indicating strong commitment to mission-focused spending.
- Consistent revenue generation around $200,000 annually over many years, showing stable funding streams.
- Long history of IRS 990 filings (13 filings), demonstrating consistent transparency and compliance.
Frequently Asked Questions about Bradford Housing Corporation
Is Bradford Housing Corporation a legitimate charity?
Bradford Housing Corporation (EIN: 10332278) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $206K. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Bradford Housing Corporation spend its money?
Bradford Housing Corporation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bradford Housing Corporation tax-deductible?
Bradford Housing Corporation is registered as a tax-exempt nonprofit (EIN: 10332278). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bradford Housing Corporation CEO make?
Bradford Housing Corporation's highest-compensated officer earns $1 annually. The organization reported $206K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Bradford Housing Corporation's spending goes to programs?
Bradford Housing Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Bradford Housing Corporation located?
Bradford Housing Corporation is headquartered in Bangor, Maine and files with the IRS under EIN 10332278.
How many years of IRS 990 filings does Bradford Housing Corporation have?
Bradford Housing Corporation 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 $206K in total revenue.
Is Bradford Housing Corporation financially sustainable given its recurring operational deficits?
The organization has consistently reported expenses exceeding revenue in most recent years (e.g., 2023, 2022, 2021), leading to a gradual decline in net assets. While assets remain over $1 million, this trend suggests a need to either increase revenue or reduce expenses to ensure long-term financial sustainability.
What is the nature of the organization's liabilities, which consistently exceed its assets?
The filings show liabilities consistently higher than assets (e.g., $1,335,737 liabilities vs. $1,193,833 assets in 2023). Understanding the composition of these liabilities (e.g., mortgages, program-related investments, or other debt) is crucial to assessing the organization's financial risk and long-term solvency.
How does Bradford Housing Corporation manage to operate without any reported officer compensation?
The consistent 0% officer compensation across all filings is highly unusual for an organization of this size. This suggests that leadership roles may be entirely volunteer-based or compensated through other entities, which is a significant positive for resource allocation but warrants understanding of the operational model.
Filing History
IRS 990 filing history for Bradford Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bradford Housing Corporation's revenue has grown by 10.5%, moving from $178K to $196K. Total assets increased by 37.2% over the same period, from $870K to $1.2M. Total functional expenses rose by 18%, from $190K to $225K. In its most recent filing year (2023), Bradford Housing Corporation reported a deficit of $28K, with expenses exceeding revenue. The organization holds $1.3M in liabilities against $1.2M in assets (debt-to-asset ratio: 111.9%), resulting in net assets of $-141,904.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $196K | $225K | $1.2M | $1.3M | — | — |
| 2022 | $189K | $240K | $1.2M | $1.3M | — | View 990 |
| 2021 | $191K | $218K | $1.3M | $1.3M | — | View 990 |
| 2020 | $193K | $188K | $1.2M | $1.3M | — | View 990 |
| 2019 | $204K | $201K | $792K | $832K | — | View 990 |
| 2018 | $198K | $205K | $771K | $814K | — | View 990 |
| 2017 | $195K | $204K | $788K | $825K | — | View 990 |
| 2016 | $199K | $191K | $804K | $832K | — | View 990 |
| 2015 | $197K | $199K | $801K | $838K | — | View 990 |
| 2014 | $187K | $205K | $815K | $849K | — | View 990 |
| 2013 | $185K | $199K | $833K | $850K | — | View 990 |
| 2012 | $186K | $193K | $851K | $854K | — | View 990 |
| 2011 | $178K | $190K | $870K | $865K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $196K, expenses of $225K, and assets of $1.2M (revenue +3.8% year-over-year).
- 2022: Revenue of $189K, expenses of $240K, and assets of $1.2M (revenue -0.7% year-over-year).
- 2021: Revenue of $191K, expenses of $218K, and assets of $1.3M (revenue -1.2% year-over-year).
- 2020: Revenue of $193K, expenses of $188K, and assets of $1.2M (revenue -5.3% year-over-year).
- 2019: Revenue of $204K, expenses of $201K, and assets of $792K (revenue +2.8% year-over-year).
- 2018: Revenue of $198K, expenses of $205K, and assets of $771K (revenue +1.6% year-over-year).
- 2017: Revenue of $195K, expenses of $204K, and assets of $788K (revenue -2.3% year-over-year).
- 2016: Revenue of $199K, expenses of $191K, and assets of $804K (revenue +1.3% year-over-year).
- 2015: Revenue of $197K, expenses of $199K, and assets of $801K (revenue +5.5% year-over-year).
- 2014: Revenue of $187K, expenses of $205K, and assets of $815K (revenue +0.8% year-over-year).
- 2013: Revenue of $185K, expenses of $199K, and assets of $833K (revenue -0.3% year-over-year).
- 2012: Revenue of $186K, expenses of $193K, and assets of $851K (revenue +4.4% year-over-year).
- 2011: Revenue of $178K, expenses of $190K, and assets of $870K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bradford Housing Corporation:
Data Sources and Methodology
This transparency report for Bradford Housing Corporation 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.