Good Will Home Association
Good Will Home Association maintains strong financial health with no reported officer compensation.
EIN: 10211508 · Hinckley, ME · NTEE: P730 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.3M |
| Total Expenses | $6.6M |
| Program Spending | 85% |
| Net Assets | $23.8M |
| Transparency Score | 92/100 |
Is Good Will Home Association Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Good Will Home Association directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Good Will Home Association
Good Will Home Association (EIN: 10211508) is a nonprofit organization based in Hinckley, ME, classified under NTEE code P730. The organization reported total revenue of $4.3M and total assets of $24.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Good Will Home Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Good Will Home Association is a mid-size nonprofit that has been operating for 86 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.6M |
| Total Expenses | $6.6M |
| Surplus / Deficit | +$28K |
| Total Assets | $24.8M |
| Total Liabilities | $1.0M |
| Net Assets | $23.8M |
| Operating Margin | 0.4% |
| Debt-to-Asset Ratio | 4.1% |
| Months of Reserves | 45.4 months |
Financial Health Grade: A
In 2023, Good Will Home Association reported a surplus of $28K with revenue exceeding expenses, holds 45.4 months of operating reserves (strong position), has a debt-to-asset ratio of 4.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Good Will Home Association's revenue has grown at a compound annual growth rate (CAGR) of 12.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -6.8% | -1.6% | +0.6% |
| 2022 | +21.0% | +2.7% | -8.1% |
| 2021 | -14.8% | -2.0% | +9.9% |
| 2020 | -32.5% | +3.3% | -0.5% |
| 2019 | +150.0% | +64.4% | +8.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1940 |
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 Good Will Home Association 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Good Will Home Association 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 surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.1%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is a strong positive for resource allocation.
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 Good Will Home Association:
- Consistent positive net income, indicating financial sustainability.
- Substantial and growing asset base, reaching $24.8 million in 2023.
- Zero reported officer compensation across all filings, demonstrating high resource efficiency.
- Strong asset-to-liability ratio, indicating robust financial health.
- Stable expense management despite revenue fluctuations.
Frequently Asked Questions about Good Will Home Association
Is Good Will Home Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Good Will Home Association (EIN: 10211508) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Good Will Home Association spend its money?
Good Will Home Association directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Good Will Home Association tax-deductible?
Good Will Home Association is registered as a tax-exempt nonprofit (EIN: 10211508). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Good Will Home Association's spending goes to programs?
Good Will Home Association directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Good Will Home Association compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Good Will Home Association is above average for NTEE category P730 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Good Will Home Association located?
Good Will Home Association is headquartered in Hinckley, Maine and files with the IRS under EIN 10211508. It is classified under NTEE code P730.
How many years of IRS 990 filings does Good Will Home Association have?
Good Will Home Association 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 $4.3M in total revenue.
Is Good Will Home Association a good charity?
Based on the available financial data, Good Will Home Association appears to be a very good charity. It demonstrates strong financial health, consistent positive net income, and a remarkable commitment to directing all resources to its mission by reporting 0% officer compensation.
How has the organization's revenue trended over the past five years?
Revenue has fluctuated over the past five years, from a high of $10,158,991 in 2019 to $6,591,626 in 2023, with a low of $5,842,955 in 2021. Despite fluctuations, it has consistently covered expenses.
What is the organization's asset-to-liability ratio?
In 2023, the organization had assets of $24,843,301 and liabilities of $1,030,202, resulting in a very strong asset-to-liability ratio of approximately 24:1, indicating excellent financial stability.
Filing History
IRS 990 filing history for Good Will Home Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Good Will Home Association's revenue has grown by 297.1%, moving from $1.7M to $6.6M. Total assets decreased by 7% over the same period, from $26.7M to $24.8M. Total functional expenses rose by 93%, from $3.4M to $6.6M. In its most recent filing year (2023), Good Will Home Association reported a surplus of $28K, with revenue exceeding expenses. The organization holds $1.0M in liabilities against $24.8M in assets (debt-to-asset ratio: 4.1%), resulting in net assets of $23.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.6M | $6.6M | $24.8M | $1.0M | — | View 990 |
| 2022 | $7.1M | $6.7M | $24.7M | $1.3M | — | View 990 |
| 2021 | $5.8M | $6.5M | $26.9M | $1.9M | — | View 990 |
| 2020 | $6.9M | $6.6M | $24.5M | $958K | — | View 990 |
| 2019 | $10.2M | $6.4M | $24.6M | $1.1M | — | View 990 |
| 2018 | $4.1M | $3.9M | $22.7M | $2.9M | — | View 990 |
| 2017 | $4.2M | $4.0M | $22.2M | $2.9M | — | View 990 |
| 2016 | $3.9M | $3.6M | $21.9M | $3.1M | — | View 990 |
| 2015 | $7.4M | $3.7M | $21.4M | $2.5M | — | View 990 |
| 2014 | $3.5M | $3.0M | $17.2M | $1.7M | — | View 990 |
| 2013 | $4.9M | $3.3M | $16.4M | $2.2M | — | View 990 |
| 2012 | $4.1M | $3.6M | $24.8M | $1.0M | — | View 990 |
| 2011 | $1.7M | $3.4M | $26.7M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.6M, expenses of $6.6M, and assets of $24.8M (revenue -6.8% year-over-year).
- 2022: Revenue of $7.1M, expenses of $6.7M, and assets of $24.7M (revenue +21.0% year-over-year).
- 2021: Revenue of $5.8M, expenses of $6.5M, and assets of $26.9M (revenue -14.8% year-over-year).
- 2020: Revenue of $6.9M, expenses of $6.6M, and assets of $24.5M (revenue -32.5% year-over-year).
- 2019: Revenue of $10.2M, expenses of $6.4M, and assets of $24.6M (revenue +150.0% year-over-year).
- 2018: Revenue of $4.1M, expenses of $3.9M, and assets of $22.7M (revenue -3.9% year-over-year).
- 2017: Revenue of $4.2M, expenses of $4.0M, and assets of $22.2M (revenue +8.2% year-over-year).
- 2016: Revenue of $3.9M, expenses of $3.6M, and assets of $21.9M (revenue -47.0% year-over-year).
- 2015: Revenue of $7.4M, expenses of $3.7M, and assets of $21.4M (revenue +111.0% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.0M, and assets of $17.2M (revenue -28.1% year-over-year).
- 2013: Revenue of $4.9M, expenses of $3.3M, and assets of $16.4M (revenue +19.5% year-over-year).
- 2012: Revenue of $4.1M, expenses of $3.6M, and assets of $24.8M (revenue +145.1% year-over-year).
- 2011: Revenue of $1.7M, expenses of $3.4M, and assets of $26.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Good Will Home Association:
Data Sources and Methodology
This transparency report for Good Will Home Association 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.