Hill Street Terrace Housing Corp
Hill Street Terrace Housing Corp maintains stable operations with growing assets but increasing liabilities.
EIN: 10347202 · Portland, ME · NTEE: L22Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $1.6M |
| Program Spending | 80% |
| Net Assets | $-847,455 |
| Transparency Score | 75/100 |
Is Hill Street Terrace Housing Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hill Street Terrace Housing Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hill Street Terrace Housing Corp
Hill Street Terrace Housing Corp (EIN: 10347202) is a nonprofit organization based in Portland, ME, classified under NTEE code L22Z. The organization reported total revenue of $2.1M and total assets of $8.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hill Street Terrace Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hill Street Terrace Housing Corp is a mid-size nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.6M |
| Surplus / Deficit | $-284,609 |
| Total Assets | $7.2M |
| Total Liabilities | $8.0M |
| Net Assets | $-847,455 |
| Operating Margin | -21.4% |
| Debt-to-Asset Ratio | 111.8% |
| Months of Reserves | 53.1 months |
Financial Health Grade: C
In 2023, Hill Street Terrace Housing Corp reported a deficit of $285K with expenses exceeding revenue, holds 53.1 months of operating reserves (strong position), has a debt-to-asset ratio of 111.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hill Street Terrace Housing Corp's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.3% | +19.2% | +23.6% |
| 2022 | +2.7% | +5.5% | +6.8% |
| 2021 | -23.9% | -5.9% | -2.4% |
| 2020 | +16.6% | -5.6% | -15.9% |
| 2019 | +5.0% | +4.1% | +2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
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 Hill Street Terrace Housing Corp with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Hill Street Terrace Housing Corp allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $285K, with expenses exceeding revenue.
- Debt-to-asset ratio: 111.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer executive leadership or compensation levels that do not meet IRS reporting thresholds, which is a positive indicator for directing resources to programs.
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 Hill Street Terrace Housing Corp's IRS 990 filings:
- Liabilities exceeding assets in 2023 ($8,006,053 liabilities vs. $7,158,598 assets)
- Operational deficit in 2023 (Expenses $1,616,936 vs. Revenue $1,332,327)
- Negative revenue reported in 2017 ($-219,565), which is unusual and requires clarification.
Strengths
The following positive indicators were identified for Hill Street Terrace Housing Corp:
- Consistent filing of IRS 990 forms, indicating transparency.
- No reported officer compensation, suggesting efficient use of funds for mission.
- Stable revenue stream over multiple years, demonstrating consistent operational capacity.
- Assets have shown growth over recent years, from $5,792,478 in 2022 to $7,158,598 in 2023.
Frequently Asked Questions about Hill Street Terrace Housing Corp
Is Hill Street Terrace Housing Corp a legitimate charity?
Hill Street Terrace Housing Corp (EIN: 10347202) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.1M. 3 red flags identified. 4 strengths noted. Financial health grade: C.
How does Hill Street Terrace Housing Corp spend its money?
Hill Street Terrace Housing Corp directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Hill Street Terrace Housing Corp tax-deductible?
Hill Street Terrace Housing Corp is registered as a tax-exempt nonprofit (EIN: 10347202). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hill Street Terrace Housing Corp's spending goes to programs?
Hill Street Terrace Housing Corp directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hill Street Terrace Housing Corp compare to similar nonprofits?
With a transparency score of 75/100 (Good), Hill Street Terrace Housing Corp is above average for NTEE category L22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hill Street Terrace Housing Corp located?
Hill Street Terrace Housing Corp is headquartered in Portland, Maine and files with the IRS under EIN 10347202. It is classified under NTEE code L22Z.
How many years of IRS 990 filings does Hill Street Terrace Housing Corp have?
Hill Street Terrace 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 $2.1M in total revenue.
Is Hill Street Terrace Housing Corp financially stable given its increasing liabilities?
While the organization has consistent revenue and growing assets, its liabilities significantly increased to $8,006,053 in 2023, exceeding its assets of $7,158,598. This trend warrants further investigation into the nature of these liabilities to assess long-term financial stability.
What is the primary source of the organization's revenue?
The provided data does not specify the primary source of revenue, but given its NTEE code L22Z (Housing Development, Construction & Management), it likely includes rental income, government grants, or development fees.
How does the organization manage to operate without reported officer compensation?
The consistent reporting of 0% officer compensation suggests that executive leadership may be volunteer-based or that compensation falls below the IRS reporting thresholds for individual officers, indicating efficient use of funds for mission-related activities.
Filing History
IRS 990 filing history for Hill Street Terrace Housing Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hill Street Terrace Housing Corp's revenue has grown by 41.7%, moving from $940K to $1.3M. Total assets increased by 59.8% over the same period, from $4.5M to $7.2M. Total functional expenses rose by 73.3%, from $933K to $1.6M. In its most recent filing year (2023), Hill Street Terrace Housing Corp reported a deficit of $285K, with expenses exceeding revenue. The organization holds $8.0M in liabilities against $7.2M in assets (debt-to-asset ratio: 111.8%), resulting in net assets of $-847,455.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.6M | $7.2M | $8.0M | — | — |
| 2022 | $1.3M | $1.4M | $5.8M | $5.5M | — | — |
| 2021 | $1.3M | $1.3M | $5.4M | $5.0M | — | View 990 |
| 2020 | $1.7M | $1.4M | $5.6M | $5.1M | — | View 990 |
| 2019 | $1.4M | $1.4M | $6.6M | $6.5M | — | View 990 |
| 2018 | $1.3M | $1.4M | $6.4M | $6.3M | — | View 990 |
| 2017 | $-219,565 | $1.4M | $5.8M | $5.6M | — | — |
| 2016 | $1.5M | $1.4M | $7.1M | $5.3M | — | View 990 |
| 2015 | $1.5M | $1.4M | $7.1M | $5.4M | — | View 990 |
| 2014 | $1.6M | $1.5M | $7.1M | $5.5M | — | View 990 |
| 2013 | $2.7M | $1.1M | $6.7M | $5.2M | — | View 990 |
| 2012 | $951K | $966K | $4.4M | $4.5M | — | View 990 |
| 2011 | $940K | $933K | $4.5M | $4.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.6M, and assets of $7.2M (revenue +3.3% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.4M, and assets of $5.8M (revenue +2.7% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.3M, and assets of $5.4M (revenue -23.9% year-over-year).
- 2020: Revenue of $1.7M, expenses of $1.4M, and assets of $5.6M (revenue +16.6% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.4M, and assets of $6.6M (revenue +5.0% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.4M, and assets of $6.4M.
- 2017: Revenue of $-219,565, expenses of $1.4M, and assets of $5.8M (revenue -114.5% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.4M, and assets of $7.1M (revenue +1.4% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.4M, and assets of $7.1M (revenue -6.2% year-over-year).
- 2014: Revenue of $1.6M, expenses of $1.5M, and assets of $7.1M (revenue -39.8% year-over-year).
- 2013: Revenue of $2.7M, expenses of $1.1M, and assets of $6.7M (revenue +178.8% year-over-year).
- 2012: Revenue of $951K, expenses of $966K, and assets of $4.4M (revenue +1.1% year-over-year).
- 2011: Revenue of $940K, expenses of $933K, and assets of $4.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hill Street Terrace Housing Corp:
Data Sources and Methodology
This transparency report for Hill Street Terrace 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.