Home For The Aged
Home For The Aged consistently operates at a deficit, drawing down assets despite substantial reserves.
EIN: 10211512 · Portland, ME · NTEE: P750 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.9M |
| Total Expenses | $9.1M |
| Program Spending | 80% |
| Net Assets | $5.0M |
| Transparency Score | 65/100 |
Is Home For The Aged Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Home For The Aged directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Home For The Aged
Home For The Aged (EIN: 10211512) is a nonprofit organization based in Portland, ME, classified under NTEE code P750. The organization reported total revenue of $10.9M and total assets of $32.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Home For The Aged's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Home For The Aged is a large nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.4M |
| Total Expenses | $9.1M |
| Surplus / Deficit | $-717,693 |
| Total Assets | $33.2M |
| Total Liabilities | $28.1M |
| Net Assets | $5.0M |
| Operating Margin | -8.6% |
| Debt-to-Asset Ratio | 84.8% |
| Months of Reserves | 43.8 months |
Financial Health Grade: C
In 2023, Home For The Aged reported a deficit of $718K with expenses exceeding revenue, holds 43.8 months of operating reserves (strong position), has a debt-to-asset ratio of 84.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Home For The Aged's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.5% | +5.8% | -3.0% |
| 2022 | -1.9% | +2.4% | -6.3% |
| 2021 | +7.9% | +0.7% | -4.3% |
| 2020 | -4.7% | +2.2% | -2.6% |
| 2019 | -5.8% | +0.5% | -3.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1900 |
| IRS Ruling Date | 1942 |
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 Home For The Aged with a Mission Score of 65 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, Home For The Aged 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 $718K, with expenses exceeding revenue.
- Debt-to-asset ratio: 84.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting either a fully volunteer leadership or that compensation is categorized differently, which enhances transparency regarding direct officer salaries.
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 Home For The Aged's IRS 990 filings:
- Consistent operational deficits (e.g., $717,693 in 2023)
- Declining asset base over time (from $41.3M in 2017 to $32.7M currently)
- Expenses consistently exceeding revenue in recent years
Strengths
The following positive indicators were identified for Home For The Aged:
- Strong asset base relative to annual revenue ($32.7M assets vs. $10.9M latest revenue)
- Consistent reporting of 0% officer compensation, indicating transparency or volunteer leadership
- Clear mission focus (NTEE P750 - Residential Care for the Aged)
Frequently Asked Questions about Home For The Aged
Is Home For The Aged a legitimate charity?
Based on AI analysis of IRS 990 filings, Home For The Aged (EIN: 10211512) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Home For The Aged spend its money?
Home For The Aged directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Home For The Aged tax-deductible?
Home For The Aged is registered as a tax-exempt nonprofit (EIN: 10211512). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Home For The Aged's spending goes to programs?
Home For The Aged directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Home For The Aged compare to similar nonprofits?
With a transparency score of 65/100 (Good), Home For The Aged is above average for NTEE category P750 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Home For The Aged located?
Home For The Aged is headquartered in Portland, Maine and files with the IRS under EIN 10211512. It is classified under NTEE code P750.
How many years of IRS 990 filings does Home For The Aged have?
Home For The Aged 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 $10.9M in total revenue.
Is Home For The Aged a good charity?
While Home For The Aged serves a critical mission and reports 0% officer compensation, its consistent operational deficits (e.g., $717,693 in 2023) and declining asset base raise concerns about long-term financial sustainability. Its effectiveness hinges on its ability to address these deficits.
What is the trend in the organization's financial health?
The organization has shown a trend of expenses exceeding revenue in recent years (e.g., 2023, 2022, 2021), leading to operational deficits. Its assets have also declined from a high of over $41 million in 2017 to $32.7 million currently, indicating a draw on reserves.
How does Home For The Aged manage its executive compensation?
The organization consistently reports 0% officer compensation in its IRS 990 filings, suggesting that its leadership may be entirely volunteer-based or compensated through other means not classified as 'officer compensation'.
Filing History
IRS 990 filing history for Home For The Aged showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Home For The Aged's revenue has grown by 135.3%, moving from $3.6M to $8.4M. Total assets increased by 135.4% over the same period, from $14.1M to $33.2M. Total functional expenses rose by 193.1%, from $3.1M to $9.1M. In its most recent filing year (2023), Home For The Aged reported a deficit of $718K, with expenses exceeding revenue. The organization holds $28.1M in liabilities against $33.2M in assets (debt-to-asset ratio: 84.8%), resulting in net assets of $5.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.4M | $9.1M | $33.2M | $28.1M | — | View 990 |
| 2022 | $7.4M | $8.6M | $34.2M | $28.7M | — | View 990 |
| 2021 | $7.6M | $8.4M | $36.5M | $29.1M | — | View 990 |
| 2020 | $7.0M | $8.3M | $38.2M | $30.2M | — | View 990 |
| 2019 | $7.4M | $8.2M | $39.2M | $30.0M | — | View 990 |
| 2018 | $7.8M | $8.1M | $40.6M | $30.6M | — | View 990 |
| 2017 | $5.9M | $6.6M | $41.3M | $30.9M | — | View 990 |
| 2016 | $6.2M | $5.3M | $30.0M | $18.9M | — | View 990 |
| 2015 | $6.4M | $5.4M | $23.8M | $12.5M | — | View 990 |
| 2014 | $4.6M | $3.6M | $22.9M | $12.0M | — | View 990 |
| 2013 | $4.1M | $3.8M | $16.4M | $6.3M | — | View 990 |
| 2012 | $3.6M | $3.5M | $16.0M | $6.3M | — | View 990 |
| 2011 | $3.6M | $3.1M | $14.1M | $4.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.4M, expenses of $9.1M, and assets of $33.2M (revenue +12.5% year-over-year).
- 2022: Revenue of $7.4M, expenses of $8.6M, and assets of $34.2M (revenue -1.9% year-over-year).
- 2021: Revenue of $7.6M, expenses of $8.4M, and assets of $36.5M (revenue +7.9% year-over-year).
- 2020: Revenue of $7.0M, expenses of $8.3M, and assets of $38.2M (revenue -4.7% year-over-year).
- 2019: Revenue of $7.4M, expenses of $8.2M, and assets of $39.2M (revenue -5.8% year-over-year).
- 2018: Revenue of $7.8M, expenses of $8.1M, and assets of $40.6M (revenue +33.4% year-over-year).
- 2017: Revenue of $5.9M, expenses of $6.6M, and assets of $41.3M (revenue -4.8% year-over-year).
- 2016: Revenue of $6.2M, expenses of $5.3M, and assets of $30.0M (revenue -3.0% year-over-year).
- 2015: Revenue of $6.4M, expenses of $5.4M, and assets of $23.8M (revenue +38.3% year-over-year).
- 2014: Revenue of $4.6M, expenses of $3.6M, and assets of $22.9M (revenue +12.0% year-over-year).
- 2013: Revenue of $4.1M, expenses of $3.8M, and assets of $16.4M (revenue +13.6% year-over-year).
- 2012: Revenue of $3.6M, expenses of $3.5M, and assets of $16.0M (revenue +1.6% year-over-year).
- 2011: Revenue of $3.6M, expenses of $3.1M, and assets of $14.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Home For The Aged:
Data Sources and Methodology
This transparency report for Home For The Aged 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.