Home Resources Of Maine Inc
Home Resources Of Maine Inc's financial activity has collapsed, with revenue falling from millions to just over a thousand dollars in two years.
EIN: 10490620 · Augusta, ME · NTEE: P440 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $16K |
| Net Assets | $10K |
| Transparency Score | 10/100 |
Is Home Resources Of Maine Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Home Resources Of Maine Inc
Home Resources Of Maine Inc (EIN: 10490620) is a nonprofit organization based in Augusta, ME, classified under NTEE code P440. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Home Resources Of Maine Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Home Resources Of Maine Inc is a micro nonprofit that has been operating for 31 years, with 11 years of IRS 990 filings on record (2012–2022). Revenue has grown at a compound annual rate of -58.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $1K |
| Total Expenses | $16K |
| Surplus / Deficit | $-14,617 |
| Total Assets | $10K |
| Net Assets | $10K |
| Operating Margin | -1034.5% |
| Months of Reserves | 7.6 months |
Financial Health Grade: B
In 2022, Home Resources Of Maine Inc reported a deficit of $15K with expenses exceeding revenue, holds 7.6 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2012–2022), Home Resources Of Maine Inc's revenue has declined at a compound annual growth rate (CAGR) of -58.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -98.0% | -96.8% | -58.9% |
| 2021 | -98.8% | -93.2% | -94.6% |
| 2020 | -28.8% | -13.6% | -80.8% |
| 2019 | -9.2% | -6.4% | -10.6% |
| 2018 | +3.2% | +6.6% | +0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1995 |
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 Resources Of Maine Inc with a Mission Score of 10 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Home Resources Of Maine Inc allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $15K, with expenses exceeding revenue.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all available filings, suggesting either a fully volunteer-led organization or that executive compensation is not reported in this specific data field.
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 Resources Of Maine Inc's IRS 990 filings:
- Dramatic and sustained decline in revenue and assets post-2019
- Expenses consistently exceeding revenue in recent years (e.g., 2022 expenses $16,030 vs. revenue $1,413; 2021 expenses $507,375 vs. revenue $71,518)
- Current assets of only $10,196, indicating minimal operational capacity
Strengths
The following positive indicators were identified for Home Resources Of Maine Inc:
- Historically operated with significant revenue and assets for many years (2013-2019)
- Consistently reported 0% officer compensation, suggesting a lean or volunteer-driven leadership structure
Frequently Asked Questions about Home Resources Of Maine Inc
Is Home Resources Of Maine Inc a legitimate charity?
Home Resources Of Maine Inc (EIN: 10490620) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 10/100. It has 11 years of IRS 990 filings on record. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Home Resources Of Maine Inc spend its money?
Home Resources Of Maine Inc reported its financials in IRS 990 filings. 11 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Home Resources Of Maine Inc tax-deductible?
Home Resources Of Maine Inc is registered as a tax-exempt nonprofit (EIN: 10490620). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Home Resources Of Maine Inc compare to similar nonprofits?
With a transparency score of 10/100 (Very Poor), Home Resources Of Maine Inc is below average for NTEE category P440 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Home Resources Of Maine Inc located?
Home Resources Of Maine Inc is headquartered in Augusta, Maine and files with the IRS under EIN 10490620. It is classified under NTEE code P440.
How many years of IRS 990 filings does Home Resources Of Maine Inc have?
Home Resources Of Maine Inc has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
What caused the dramatic decline in revenue and expenses for Home Resources Of Maine Inc after 2019?
The provided data does not specify the reasons for the decline, but it is evident from the filings that the organization's financial activity significantly decreased after fiscal year 2019, culminating in minimal operations by 2022.
Is Home Resources Of Maine Inc still actively operating at a significant scale?
Based on the 2022 filing showing only $1,413 in revenue and $16,030 in expenses, the organization appears to be largely inactive or operating at a very minimal scale, far from its previous multi-million dollar operations.
What happened to the organization's assets, which decreased from $2.68 million in 2018 to $10,196 in 2022?
The data indicates a significant depletion of assets, but the specific reasons for this reduction (e.g., asset sales, use to cover expenses, or transfer) are not detailed in the provided financial summary.
Filing History
IRS 990 filing history for Home Resources Of Maine Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2022), Home Resources Of Maine Inc's revenue has declined by 100%, moving from $8.3M to $1K. Total assets decreased by 99.6% over the same period, from $2.4M to $10K. Total functional expenses fell by 99.8%, from $8.0M to $16K. In its most recent filing year (2022), Home Resources Of Maine Inc reported a deficit of $15K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $1K | $16K | $10K | $0 | — | — |
| 2021 | $72K | $507K | $25K | $0 | — | View 990 |
| 2020 | $5.9M | $7.4M | $461K | $0 | — | View 990 |
| 2019 | $8.3M | $8.6M | $2.4M | $422K | — | View 990 |
| 2018 | $9.2M | $9.2M | $2.7M | $434K | — | View 990 |
| 2017 | $8.9M | $8.6M | $2.7M | $431K | — | — |
| 2016 | $8.4M | $8.2M | $2.3M | $377K | — | View 990 |
| 2015 | $7.2M | $7.4M | $2.2M | $352K | — | View 990 |
| 2014 | $7.8M | $7.9M | $2.3M | $339K | — | View 990 |
| 2013 | $8.1M | $8.0M | $2.5M | $551K | — | View 990 |
| 2012 | $8.3M | $8.0M | $2.4M | $564K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $1K, expenses of $16K, and assets of $10K (revenue -98.0% year-over-year).
- 2021: Revenue of $72K, expenses of $507K, and assets of $25K (revenue -98.8% year-over-year).
- 2020: Revenue of $5.9M, expenses of $7.4M, and assets of $461K (revenue -28.8% year-over-year).
- 2019: Revenue of $8.3M, expenses of $8.6M, and assets of $2.4M (revenue -9.2% year-over-year).
- 2018: Revenue of $9.2M, expenses of $9.2M, and assets of $2.7M (revenue +3.2% year-over-year).
- 2017: Revenue of $8.9M, expenses of $8.6M, and assets of $2.7M (revenue +6.4% year-over-year).
- 2016: Revenue of $8.4M, expenses of $8.2M, and assets of $2.3M (revenue +15.3% year-over-year).
- 2015: Revenue of $7.2M, expenses of $7.4M, and assets of $2.2M (revenue -7.5% year-over-year).
- 2014: Revenue of $7.8M, expenses of $7.9M, and assets of $2.3M (revenue -3.4% year-over-year).
- 2013: Revenue of $8.1M, expenses of $8.0M, and assets of $2.5M (revenue -1.8% year-over-year).
- 2012: Revenue of $8.3M, expenses of $8.0M, and assets of $2.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Home Resources Of Maine Inc:
Data Sources and Methodology
This transparency report for Home Resources Of Maine 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.