Greater Bangor Apartment Owners And Managers Association Inc

Greater Bangor Apartment Owners And Managers Association Inc. maintains stable finances with volunteer leadership and no liabilities.

EIN: 10529091 · Hermon, ME · NTEE: S41 · Updated: 2026-03-28

$44KRevenue

$134KAssets

90/100Mission Score (Excellent)

S41

About Greater Bangor Apartment Owners And Managers Association Inc

Greater Bangor Apartment Owners And Managers Association Inc (EIN: 10529091) is a nonprofit organization based in Hermon, ME, classified under NTEE code S41. The organization reported total revenue of $44K and total assets of $134K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Bangor Apartment Owners And Managers Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Greater Bangor Apartment Owners And Managers Association Inc. demonstrates consistent financial stability with assets growing from $112,024 in 2019 to $140,249 in 2023. The organization operates on a relatively small budget, with revenues consistently around $48,000-$51,000 annually. Expenses have generally been managed well, staying below or close to revenue, though 2023 saw expenses ($50,771) slightly exceed revenue ($49,673). This small deficit is not a significant concern given the overall asset base and consistent revenue streams.

The organization's financial health appears sound for its size, maintaining a healthy asset base with no reported liabilities across all five filings, indicating strong fiscal management and no reliance on debt. The consistent revenue and asset growth suggest a stable operational model. The absence of officer compensation reported in all filings is a significant indicator of volunteer leadership, which contributes to lower administrative costs and a higher proportion of funds potentially directed towards its mission.

Transparency is high given the consistent filing of IRS Form 990s and the clear financial picture presented. The lack of officer compensation is a key transparency point, showing that leadership is not drawing salaries from the organization's funds. This structure suggests a strong commitment to maximizing resources for the organization's stated purpose.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Greater Bangor Apartment Owners And Managers Association Inc with a Mission Score of 90 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, Greater Bangor Apartment Owners And Managers Association Inc 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all five years of filings, indicating that the organization's leadership is entirely volunteer-based, which significantly reduces administrative overhead for this small nonprofit.

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 Greater Bangor Apartment Owners And Managers Association Inc:

Consistent asset growth, from $112,024 in 2019 to $140,249 in 2023.
No reported liabilities across all five years of filings, indicating strong financial health.
0% officer compensation, demonstrating volunteer leadership and efficient use of funds.
Stable revenue streams, consistently around $48,000-$51,000 annually.
High program spending ratio due to minimal administrative and no fundraising costs.

Frequently Asked Questions about Greater Bangor Apartment Owners And Managers Association Inc

Is Greater Bangor Apartment Owners And Managers Association Inc. a good charity?

Based on the available financial data, the organization appears to be a well-managed and efficient nonprofit. It maintains a stable financial position with growing assets, no liabilities, and operates with volunteer leadership, which allows a high percentage of its modest budget to be directed towards its mission.

How does the organization fund its operations?

The organization primarily funds its operations through consistent annual revenues, which have ranged from $48,108 to $51,442 over the past five years. Given its NTEE code (S41 - Housing Support), these revenues likely come from membership dues, events, or related services for apartment owners and managers.

What is the trend in the organization's assets?

The organization's assets have shown a consistent upward trend, increasing from $112,024 in 2019 to $140,249 in 2023, indicating healthy financial growth and accumulation of reserves.

Filing History

IRS 990 filing history for Greater Bangor Apartment Owners And Managers Association Inc showing financial trends over 5 years of public records:

Over 5 years of IRS 990 filings (2019–2023), Greater Bangor Apartment Owners And Managers Association Inc's revenue has declined by 3.4%, moving from $51K to $50K. Total assets increased by 25.2% over the same period, from $112K to $140K. Total functional expenses rose by 18.6%, from $43K to $51K. In its most recent filing year (2023), Greater Bangor Apartment Owners And Managers Association Inc reported a deficit of $1K, with expenses exceeding revenue.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$50K	$51K	$140K	$0	—	—
2022	$49K	$39K	$141K	$0	—	View 990
2021	$48K	$43K	$131K	$0	—	View 990
2020	$51K	$37K	$126K	$0	—	View 990
2019	$51K	$43K	$112K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $50K, expenses of $51K, and assets of $140K (revenue +1.5% year-over-year).
2022: Revenue of $49K, expenses of $39K, and assets of $141K (revenue +1.7% year-over-year).
2021: Revenue of $48K, expenses of $43K, and assets of $131K (revenue -6.4% year-over-year).
2020: Revenue of $51K, expenses of $37K, and assets of $126K (revenue +-0.0% year-over-year).
2019: Revenue of $51K, expenses of $43K, and assets of $112K.

Data Sources and Methodology

This transparency report for Greater Bangor Apartment Owners And Managers Association 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.