Freeport Senior Housing Inc
Freeport Senior Housing Inc. maintains stable finances with volunteer leadership and consistent surpluses.
EIN: 10492876 · Freeport, ME · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $793K |
| Total Expenses | $711K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $700,000 |
| Net Assets | $952K |
| Transparency Score | 92/100 |
Is Freeport Senior Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Freeport Senior Housing Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Freeport Senior Housing Inc
Freeport Senior Housing Inc (EIN: 10492876) is a nonprofit organization based in Freeport, ME, classified under NTEE code L20. The organization reported total revenue of $793K and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Freeport Senior Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Freeport Senior Housing Inc is a small nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $716K |
| Total Expenses | $711K |
| Surplus / Deficit | +$5K |
| Total Assets | $2.2M |
| Total Liabilities | $1.2M |
| Net Assets | $952K |
| Operating Margin | 0.7% |
| Debt-to-Asset Ratio | 56.2% |
| Months of Reserves | 36.6 months |
Financial Health Grade: A
In 2023, Freeport Senior Housing Inc reported a surplus of $5K with revenue exceeding expenses, holds 36.6 months of operating reserves (strong position), has a debt-to-asset ratio of 56.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Freeport Senior Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.5% | +3.3% | -2.6% |
| 2022 | +6.6% | +8.6% | -2.9% |
| 2021 | +9.1% | +20.6% | -2.3% |
| 2020 | +0.9% | -18.9% | -2.8% |
| 2019 | +1.9% | +10.6% | +3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Senior Housing 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Freeport Senior Housing Inc allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. 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 $5K, with revenue exceeding expenses.
- Debt-to-asset ratio: 56.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization is likely run by volunteer leadership, which is highly commendable for an organization with over $700,000 in annual revenue.
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 Senior Housing Inc's IRS 990 filings:
- Gradual decline in total assets from $2,417,866 in 2019 to $2,171,079 in 2023, warrants monitoring.
Strengths
The following positive indicators were identified for Freeport Senior Housing Inc:
- Consistent revenue exceeding expenses, indicating financial stability (e.g., 2023: Revenue $716,228, Expenses $711,136).
- 0% officer compensation reported across all filings, demonstrating highly efficient use of funds and volunteer leadership.
- Long history of IRS 990 filings (13 periods), indicating strong commitment to transparency and compliance.
- Significant growth in revenue over the past decade, from $319,542 in 2014 to $716,228 in 2023.
- Liabilities have decreased alongside assets, suggesting responsible financial management (e.g., Liabilities from $1,558,764 in 2019 to $1,219,471 in 2023).
Frequently Asked Questions about Freeport Senior Housing Inc
Is Freeport Senior Housing Inc a legitimate charity?
Freeport Senior Housing Inc (EIN: 10492876) 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: $793K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Freeport Senior Housing Inc spend its money?
Freeport Senior Housing Inc directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Freeport Senior Housing Inc tax-deductible?
Freeport Senior Housing Inc is registered as a tax-exempt nonprofit (EIN: 10492876). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Freeport Senior Housing Inc CEO make?
Freeport Senior Housing Inc's highest-compensated officer earns $700,000 annually. The organization reported $793K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Freeport Senior Housing Inc's spending goes to programs?
Freeport Senior Housing Inc directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Freeport Senior Housing Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Freeport Senior Housing Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Freeport Senior Housing Inc located?
Freeport Senior Housing Inc is headquartered in Freeport, Maine and files with the IRS under EIN 10492876. It is classified under NTEE code L20.
How many years of IRS 990 filings does Freeport Senior Housing Inc have?
Freeport Senior Housing 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 $793K in total revenue.
Is Freeport Senior Housing Inc. a good charity?
Based on the available financial data, Freeport Senior Housing Inc. appears to be a well-managed and efficient charity. It consistently generates surpluses, has no reported officer compensation, and maintains a stable asset base, all of which are positive indicators.
How has the organization's financial health changed over time?
The organization has shown consistent revenue growth from $319,542 in 2014 to $716,228 in 2023. While assets have slightly decreased from a peak of $2,417,866 in 2019 to $2,171,079 in 2023, liabilities have also decreased, suggesting a managed financial position. Overall, it has maintained a healthy financial status.
What is the significance of 0% officer compensation?
0% officer compensation is a significant strength, indicating that the organization's leadership is likely volunteer-based. This means more of the organization's revenue can be directed towards its programmatic mission rather than executive salaries, enhancing its spending efficiency.
Filing History
IRS 990 filing history for Freeport Senior Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Freeport Senior Housing Inc's revenue has grown by 205.4%, moving from $234K to $716K. Total assets increased by 89% over the same period, from $1.1M to $2.2M. Total functional expenses rose by 217.9%, from $224K to $711K. In its most recent filing year (2023), Freeport Senior Housing Inc reported a surplus of $5K, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $2.2M in assets (debt-to-asset ratio: 56.2%), resulting in net assets of $952K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $716K | $711K | $2.2M | $1.2M | — | View 990 |
| 2022 | $692K | $689K | $2.2M | $1.3M | — | View 990 |
| 2021 | $649K | $634K | $2.3M | $1.4M | — | View 990 |
| 2020 | $595K | $526K | $2.3M | $1.4M | — | View 990 |
| 2019 | $590K | $649K | $2.4M | $1.6M | — | View 990 |
| 2018 | $579K | $586K | $2.3M | $1.4M | — | View 990 |
| 2017 | $539K | $503K | $2.4M | $1.5M | — | View 990 |
| 2016 | $354K | $352K | $1.6M | $751K | — | View 990 |
| 2015 | $323K | $350K | $1.7M | $777K | — | View 990 |
| 2014 | $320K | $343K | $1.7M | $803K | — | View 990 |
| 2013 | $310K | $362K | $1.8M | $856K | — | View 990 |
| 2012 | $308K | $220K | $1.9M | $911K | — | View 990 |
| 2011 | $234K | $224K | $1.1M | $246K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $716K, expenses of $711K, and assets of $2.2M (revenue +3.5% year-over-year).
- 2022: Revenue of $692K, expenses of $689K, and assets of $2.2M (revenue +6.6% year-over-year).
- 2021: Revenue of $649K, expenses of $634K, and assets of $2.3M (revenue +9.1% year-over-year).
- 2020: Revenue of $595K, expenses of $526K, and assets of $2.3M (revenue +0.9% year-over-year).
- 2019: Revenue of $590K, expenses of $649K, and assets of $2.4M (revenue +1.9% year-over-year).
- 2018: Revenue of $579K, expenses of $586K, and assets of $2.3M (revenue +7.5% year-over-year).
- 2017: Revenue of $539K, expenses of $503K, and assets of $2.4M (revenue +52.0% year-over-year).
- 2016: Revenue of $354K, expenses of $352K, and assets of $1.6M (revenue +9.7% year-over-year).
- 2015: Revenue of $323K, expenses of $350K, and assets of $1.7M (revenue +1.0% year-over-year).
- 2014: Revenue of $320K, expenses of $343K, and assets of $1.7M (revenue +2.9% year-over-year).
- 2013: Revenue of $310K, expenses of $362K, and assets of $1.8M (revenue +1.0% year-over-year).
- 2012: Revenue of $308K, expenses of $220K, and assets of $1.9M (revenue +31.2% year-over-year).
- 2011: Revenue of $234K, expenses of $224K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Freeport Senior Housing Inc:
Data Sources and Methodology
This transparency report for Freeport Senior Housing 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.