East Millinocket Housing Corp
East Millinocket Housing Corp maintains stable operations with declining assets and no executive compensation.
EIN: 10340111 · E Millinocket, ME · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $524K |
| Total Expenses | $475K |
| Program Spending | 90% |
| Net Assets | $38K |
| Transparency Score | 85/100 |
Is East Millinocket Housing Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
East Millinocket Housing Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About East Millinocket Housing Corp
East Millinocket Housing Corp (EIN: 10340111) is a nonprofit organization based in E Millinocket, ME, classified under NTEE code L21. The organization reported total revenue of $524K and total assets of $656K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of East Millinocket Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
East Millinocket Housing Corp is a small nonprofit that has been operating for 27 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $473K |
| Total Expenses | $475K |
| Surplus / Deficit | $-1,871 |
| Total Assets | $657K |
| Total Liabilities | $619K |
| Net Assets | $38K |
| Operating Margin | -0.4% |
| Debt-to-Asset Ratio | 94.2% |
| Months of Reserves | 16.6 months |
Financial Health Grade: C
In 2023, East Millinocket Housing Corp reported a deficit of $2K with expenses exceeding revenue, holds 16.6 months of operating reserves (strong position), has a debt-to-asset ratio of 94.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), East Millinocket Housing Corp's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.9% | +7.0% | -4.4% |
| 2022 | -2.9% | +3.2% | -6.5% |
| 2021 | +1.1% | +6.1% | -6.7% |
| 2020 | +3.0% | +1.6% | -0.1% |
| 2019 | +3.9% | -5.2% | -1.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 East Millinocket Housing Corp with a Mission Score of 85 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: 90%
- fundraising: 0%
According to IRS 990 filings, East Millinocket Housing Corp allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $2K, with expenses exceeding revenue.
- Debt-to-asset ratio: 94.2%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating a volunteer-led organization or one with no paid officers, which is highly efficient for a nonprofit of its size.
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 East Millinocket Housing Corp's IRS 990 filings:
- Gradual decline in total assets over the past decade (from $849,062 in 2014 to $656,989 in 2023)
Strengths
The following positive indicators were identified for East Millinocket Housing Corp:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds for mission.
- Stable revenue and expense levels over the past decade, demonstrating consistent operations.
- Liabilities have decreased significantly, improving the organization's financial leverage.
Frequently Asked Questions about East Millinocket Housing Corp
Is East Millinocket Housing Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, East Millinocket Housing Corp (EIN: 10340111) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does East Millinocket Housing Corp spend its money?
East Millinocket Housing Corp directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to East Millinocket Housing Corp tax-deductible?
East Millinocket Housing Corp is registered as a tax-exempt nonprofit (EIN: 10340111). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does East Millinocket Housing Corp compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), East Millinocket Housing Corp is above average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is East Millinocket Housing Corp located?
East Millinocket Housing Corp is headquartered in E Millinocket, Maine and files with the IRS under EIN 10340111. It is classified under NTEE code L21.
How many years of IRS 990 filings does East Millinocket Housing Corp have?
East Millinocket Housing Corp 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 $524K in total revenue.
Is East Millinocket Housing Corp financially stable?
Yes, the organization appears financially stable, consistently operating with revenues closely matching expenses (e.g., $472,668 revenue vs. $474,539 expenses in 2023) and managing its liabilities effectively, despite a gradual decline in total assets over the past decade.
How does East Millinocket Housing Corp manage executive compensation?
The organization reports 0% officer compensation in all available filings, suggesting a volunteer-based leadership or a structure where no officers receive salaries, which is a highly efficient use of funds.
What is the trend in the organization's assets and liabilities?
Assets have gradually declined from $849,062 in 2014 to $656,989 in 2023. Concurrently, liabilities have also decreased from $955,580 to $618,651 over the same period, indicating a managed reduction in its financial footprint rather than a sign of distress.
Filing History
IRS 990 filing history for East Millinocket Housing Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), East Millinocket Housing Corp's revenue has grown by 20.8%, moving from $391K to $473K. Total assets decreased by 25.9% over the same period, from $886K to $657K. Total functional expenses rose by 18.9%, from $399K to $475K. In its most recent filing year (2023), East Millinocket Housing Corp reported a deficit of $2K, with expenses exceeding revenue. The organization holds $619K in liabilities against $657K in assets (debt-to-asset ratio: 94.2%), resulting in net assets of $38K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $473K | $475K | $657K | $619K | — | — |
| 2022 | $438K | $443K | $687K | $647K | — | — |
| 2021 | $451K | $430K | $735K | $690K | — | View 990 |
| 2020 | $446K | $405K | $788K | $764K | — | — |
| 2019 | $434K | $398K | $789K | $807K | — | View 990 |
| 2018 | $417K | $420K | $802K | $855K | — | View 990 |
| 2017 | $413K | $400K | $843K | $894K | — | View 990 |
| 2016 | $415K | $384K | $859K | $923K | — | View 990 |
| 2015 | $402K | $391K | $847K | $942K | — | View 990 |
| 2014 | $393K | $415K | $849K | $956K | — | View 990 |
| 2013 | $398K | $414K | $899K | $983K | — | View 990 |
| 2012 | $405K | $388K | $880K | $1.0M | — | View 990 |
| 2011 | $391K | $399K | $886K | $1.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $473K, expenses of $475K, and assets of $657K (revenue +7.9% year-over-year).
- 2022: Revenue of $438K, expenses of $443K, and assets of $687K (revenue -2.9% year-over-year).
- 2021: Revenue of $451K, expenses of $430K, and assets of $735K (revenue +1.1% year-over-year).
- 2020: Revenue of $446K, expenses of $405K, and assets of $788K (revenue +3.0% year-over-year).
- 2019: Revenue of $434K, expenses of $398K, and assets of $789K (revenue +3.9% year-over-year).
- 2018: Revenue of $417K, expenses of $420K, and assets of $802K (revenue +1.0% year-over-year).
- 2017: Revenue of $413K, expenses of $400K, and assets of $843K (revenue -0.4% year-over-year).
- 2016: Revenue of $415K, expenses of $384K, and assets of $859K (revenue +3.0% year-over-year).
- 2015: Revenue of $402K, expenses of $391K, and assets of $847K (revenue +2.5% year-over-year).
- 2014: Revenue of $393K, expenses of $415K, and assets of $849K (revenue -1.4% year-over-year).
- 2013: Revenue of $398K, expenses of $414K, and assets of $899K (revenue -1.8% year-over-year).
- 2012: Revenue of $405K, expenses of $388K, and assets of $880K (revenue +3.7% year-over-year).
- 2011: Revenue of $391K, expenses of $399K, and assets of $886K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for East Millinocket Housing Corp:
Data Sources and Methodology
This transparency report for East Millinocket Housing Corp 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.