Freeport Housing Trust Inc
Freeport Housing Trust Inc shows consistent growth in assets and revenue with no reported officer compensation.
EIN: 10449761 · Freeport, ME · NTEE: L200 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $1.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $4.8M |
| Transparency Score | 92/100 |
Is Freeport Housing Trust Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freeport Housing Trust Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freeport Housing Trust Inc
Freeport Housing Trust Inc (EIN: 10449761) is a nonprofit organization based in Freeport, ME, classified under NTEE code L200. The organization reported total revenue of $2.0M and total assets of $10.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freeport Housing Trust Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freeport Housing Trust Inc is a mid-size nonprofit that has been operating for 36 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.4M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$211K |
| Total Assets | $8.5M |
| Total Liabilities | $3.8M |
| Net Assets | $4.8M |
| Operating Margin | 14.7% |
| Debt-to-Asset Ratio | 44.2% |
| Months of Reserves | 83.6 months |
Financial Health Grade: A
In 2023, Freeport Housing Trust Inc reported a surplus of $211K with revenue exceeding expenses, holds 83.6 months of operating reserves (strong position), has a debt-to-asset ratio of 44.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Freeport Housing Trust Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -24.2% | +8.0% | +3.0% |
| 2022 | +45.8% | +15.0% | +5.5% |
| 2021 | +86.4% | +57.2% | +69.2% |
| 2020 | -9.0% | +5.4% | +3.7% |
| 2019 | +9.6% | +-0.0% | +6.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Freeport Housing Trust Inc with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Freeport Housing Trust Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 surplus of $211K, with revenue exceeding expenses.
- Debt-to-asset ratio: 44.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is highly unusual for an organization of its size with assets exceeding $10 million. This suggests a volunteer-led executive team or that compensation is reported under other expense categories, warranting further investigation for complete transparency.
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 Freeport Housing Trust Inc's IRS 990 filings:
- Unusually low or 0% officer compensation reported, which may indicate compensation is categorized elsewhere or a highly unusual volunteer executive structure for an organization of this size.
Strengths
The following positive indicators were identified for Freeport Housing Trust Inc:
- Consistent and significant growth in assets, from $4,467,763 in 2019 to $8,521,439 in 2023.
- Positive net income (revenue exceeding expenses) in all reported periods, indicating financial sustainability.
- No reported officer compensation, suggesting a high proportion of funds may be directed to program services.
- Strong revenue growth, with revenue increasing from $696,559 in 2020 to $1,434,260 in 2023.
- Healthy asset-to-liability ratio, indicating strong financial stability.
Frequently Asked Questions about Freeport Housing Trust Inc
Is Freeport Housing Trust Inc a legitimate charity?
Freeport Housing Trust Inc (EIN: 10449761) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.0M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Freeport Housing Trust Inc spend its money?
Freeport Housing Trust Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Freeport Housing Trust Inc tax-deductible?
Freeport Housing Trust Inc is registered as a tax-exempt nonprofit (EIN: 10449761). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Freeport Housing Trust Inc CEO make?
Freeport Housing Trust Inc's highest-compensated officer earns $10 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Freeport Housing Trust Inc's spending goes to programs?
Freeport Housing Trust Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Freeport Housing Trust Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Freeport Housing Trust Inc is above average for NTEE category L200 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freeport Housing Trust Inc located?
Freeport Housing Trust Inc is headquartered in Freeport, Maine and files with the IRS under EIN 10449761. It is classified under NTEE code L200.
How many years of IRS 990 filings does Freeport Housing Trust Inc have?
Freeport Housing Trust Inc 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 $2.0M in total revenue.
Is Freeport Housing Trust Inc a good charity?
Based on the available data, Freeport Housing Trust Inc appears to be a good charity. It demonstrates strong financial health with growing assets and consistent revenue, operates with a surplus, and notably reports 0% officer compensation, suggesting a high dedication of resources to its mission.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time. Assets have nearly doubled from $4,467,763 in 2019 to $8,521,439 in 2023, and revenue has shown substantial growth, for example, from $696,559 in 2020 to $1,434,260 in 2023.
What is the significance of 0% officer compensation?
0% officer compensation is highly significant as it indicates that no salaries were paid to officers, directors, or trustees, which is rare for an organization of this scale. This suggests that leadership may be entirely volunteer-based or compensated through other means not categorized as officer compensation, potentially allowing more funds to be directed to programs.
Filing History
IRS 990 filing history for Freeport Housing Trust Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freeport Housing Trust Inc's revenue has grown by 203.9%, moving from $472K to $1.4M. Total assets increased by 138.4% over the same period, from $3.6M to $8.5M. Total functional expenses rose by 149.3%, from $491K to $1.2M. In its most recent filing year (2023), Freeport Housing Trust Inc reported a surplus of $211K, with revenue exceeding expenses. The organization holds $3.8M in liabilities against $8.5M in assets (debt-to-asset ratio: 44.2%), resulting in net assets of $4.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.4M | $1.2M | $8.5M | $3.8M | — | View 990 |
| 2022 | $1.9M | $1.1M | $8.3M | $3.8M | — | View 990 |
| 2021 | $1.3M | $985K | $7.8M | $3.9M | — | View 990 |
| 2020 | $697K | $627K | $4.6M | $1.3M | — | View 990 |
| 2019 | $766K | $594K | $4.5M | $1.4M | — | View 990 |
| 2018 | $699K | $595K | $4.2M | $1.4M | — | View 990 |
| 2017 | $649K | $559K | $4.1M | $1.4M | — | View 990 |
| 2016 | $591K | $518K | $4.0M | $1.4M | — | View 990 |
| 2015 | $930K | $670K | $3.9M | $1.4M | — | View 990 |
| 2014 | $869K | $686K | $4.5M | $2.2M | — | View 990 |
| 2013 | $939K | $639K | $4.2M | $2.2M | — | View 990 |
| 2012 | $223K | $520K | $4.0M | $2.2M | — | View 990 |
| 2011 | $472K | $491K | $3.6M | $1.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.4M, expenses of $1.2M, and assets of $8.5M (revenue -24.2% year-over-year).
- 2022: Revenue of $1.9M, expenses of $1.1M, and assets of $8.3M (revenue +45.8% year-over-year).
- 2021: Revenue of $1.3M, expenses of $985K, and assets of $7.8M (revenue +86.4% year-over-year).
- 2020: Revenue of $697K, expenses of $627K, and assets of $4.6M (revenue -9.0% year-over-year).
- 2019: Revenue of $766K, expenses of $594K, and assets of $4.5M (revenue +9.6% year-over-year).
- 2018: Revenue of $699K, expenses of $595K, and assets of $4.2M (revenue +7.7% year-over-year).
- 2017: Revenue of $649K, expenses of $559K, and assets of $4.1M (revenue +9.8% year-over-year).
- 2016: Revenue of $591K, expenses of $518K, and assets of $4.0M (revenue -36.4% year-over-year).
- 2015: Revenue of $930K, expenses of $670K, and assets of $3.9M (revenue +7.0% year-over-year).
- 2014: Revenue of $869K, expenses of $686K, and assets of $4.5M (revenue -7.4% year-over-year).
- 2013: Revenue of $939K, expenses of $639K, and assets of $4.2M (revenue +320.4% year-over-year).
- 2012: Revenue of $223K, expenses of $520K, and assets of $4.0M (revenue -52.7% year-over-year).
- 2011: Revenue of $472K, expenses of $491K, and assets of $3.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freeport Housing Trust Inc:
Data Sources and Methodology
This transparency report for Freeport Housing Trust Inc 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.