Corinth Housing Corporation
Corinth Housing Corporation consistently directs 100% of officer compensation to programs, demonstrating strong financial health and efficiency.
EIN: 10332353 · Corinth, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $284K |
| Total Expenses | $237K |
| Program Spending | 95% |
| Net Assets | $478K |
| Transparency Score | 95/100 |
Is Corinth Housing Corporation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corinth Housing Corporation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Corinth Housing Corporation
Corinth Housing Corporation (EIN: 10332353) is a nonprofit organization based in Corinth, ME. The organization reported total revenue of $284K and total assets of $591K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corinth Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corinth Housing Corporation is a small nonprofit that has been operating for 50 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $262K |
| Total Expenses | $237K |
| Surplus / Deficit | +$25K |
| Total Assets | $567K |
| Total Liabilities | $89K |
| Net Assets | $478K |
| Operating Margin | 9.4% |
| Debt-to-Asset Ratio | 15.7% |
| Months of Reserves | 28.7 months |
Financial Health Grade: A
In 2023, Corinth Housing Corporation reported a surplus of $25K with revenue exceeding expenses, holds 28.7 months of operating reserves (strong position), has a debt-to-asset ratio of 15.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Corinth Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.3% | +3.9% | +2.0% |
| 2022 | +2.8% | +13.9% | -3.3% |
| 2021 | +3.8% | +9.6% | +1.0% |
| 2020 | +1.7% | +0.7% | +2.2% |
| 2019 | +1.3% | -2.0% | +1.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1976 |
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 Corinth Housing Corporation with a Mission Score of 95 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Corinth Housing Corporation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $25K, with revenue exceeding expenses.
- Debt-to-asset ratio: 15.7%.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size and suggests a volunteer-led executive team or that compensation is categorized differently, though the former is more likely given the consistent reporting.
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.
Strengths
The following positive indicators were identified for Corinth Housing Corporation:
- Consistent 0% officer compensation, indicating high efficiency and direct program investment.
- Steady revenue growth from $190,900 in 2014 to $261,990 in 2023.
- Significant reduction in liabilities from $239,640 in 2014 to $89,011 in 2023, improving financial solvency.
- Consistent surplus of revenue over expenses, demonstrating sound financial management.
- Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Frequently Asked Questions about Corinth Housing Corporation
Is Corinth Housing Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Corinth Housing Corporation (EIN: 10332353) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Corinth Housing Corporation spend its money?
Corinth Housing Corporation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Corinth Housing Corporation tax-deductible?
Corinth Housing Corporation is registered as a tax-exempt nonprofit (EIN: 10332353). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Corinth Housing Corporation located?
Corinth Housing Corporation is headquartered in Corinth, Maine and files with the IRS under EIN 10332353.
How many years of IRS 990 filings does Corinth Housing Corporation have?
Corinth 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 $284K in total revenue.
How does Corinth Housing Corporation manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that any compensation for leadership roles is categorized under other expense lines, though the former is more common for such consistent reporting.
What specific programs does Corinth Housing Corporation offer?
Based on the provided financial data, the specific programs are not detailed. However, as a housing corporation, it is highly probable that their programs involve providing affordable housing, housing assistance, or related community development initiatives in Corinth, ME.
Is Corinth Housing Corporation financially sustainable?
Yes, the organization appears financially sustainable. It has consistently generated more revenue than expenses, leading to a surplus (e.g., $24,677 in 2023), and has steadily grown its assets while significantly reducing liabilities over the past decade, indicating strong financial management.
Filing History
IRS 990 filing history for Corinth Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Corinth Housing Corporation's revenue has grown by 41.9%, moving from $185K to $262K. Total assets increased by 7.3% over the same period, from $528K to $567K. Total functional expenses rose by 47.1%, from $161K to $237K. In its most recent filing year (2023), Corinth Housing Corporation reported a surplus of $25K, with revenue exceeding expenses. The organization holds $89K in liabilities against $567K in assets (debt-to-asset ratio: 15.7%), resulting in net assets of $478K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $262K | $237K | $567K | $89K | — | — |
| 2022 | $229K | $228K | $556K | $102K | — | View 990 |
| 2021 | $223K | $201K | $575K | $122K | — | — |
| 2020 | $215K | $183K | $570K | $139K | — | — |
| 2019 | $211K | $182K | $557K | $159K | — | View 990 |
| 2018 | $208K | $185K | $547K | $178K | — | View 990 |
| 2017 | $203K | $182K | $541K | $194K | — | View 990 |
| 2016 | $204K | $182K | $537K | $212K | — | View 990 |
| 2015 | $191K | $179K | $528K | $224K | — | View 990 |
| 2014 | $191K | $177K | $532K | $240K | — | View 990 |
| 2013 | $196K | $177K | $538K | $260K | — | View 990 |
| 2012 | $188K | $169K | $533K | $274K | — | View 990 |
| 2011 | $185K | $161K | $528K | $289K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $262K, expenses of $237K, and assets of $567K (revenue +14.3% year-over-year).
- 2022: Revenue of $229K, expenses of $228K, and assets of $556K (revenue +2.8% year-over-year).
- 2021: Revenue of $223K, expenses of $201K, and assets of $575K (revenue +3.8% year-over-year).
- 2020: Revenue of $215K, expenses of $183K, and assets of $570K (revenue +1.7% year-over-year).
- 2019: Revenue of $211K, expenses of $182K, and assets of $557K (revenue +1.3% year-over-year).
- 2018: Revenue of $208K, expenses of $185K, and assets of $547K (revenue +2.5% year-over-year).
- 2017: Revenue of $203K, expenses of $182K, and assets of $541K (revenue -0.4% year-over-year).
- 2016: Revenue of $204K, expenses of $182K, and assets of $537K (revenue +7.0% year-over-year).
- 2015: Revenue of $191K, expenses of $179K, and assets of $528K (revenue -0.1% year-over-year).
- 2014: Revenue of $191K, expenses of $177K, and assets of $532K (revenue -2.5% year-over-year).
- 2013: Revenue of $196K, expenses of $177K, and assets of $538K (revenue +4.1% year-over-year).
- 2012: Revenue of $188K, expenses of $169K, and assets of $533K (revenue +1.9% year-over-year).
- 2011: Revenue of $185K, expenses of $161K, and assets of $528K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corinth Housing Corporation:
Data Sources and Methodology
This transparency report for Corinth 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.