Housing Foundation
Housing Foundation maintains operational surpluses with no officer compensation, despite long-term asset decline and high liabilities.
EIN: 10421229 · Orono, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $409K |
| Total Expenses | $344K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $300k |
| Net Assets | $-265,384 |
| Transparency Score | 85/100 |
Is Housing Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Housing Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Housing Foundation
Housing Foundation (EIN: 10421229) is a nonprofit organization based in Orono, ME. The organization reported total revenue of $409K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Housing Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Housing Foundation is a small nonprofit that has been operating for 47 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 1.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $368K |
| Total Expenses | $344K |
| Surplus / Deficit | +$24K |
| Total Assets | $1.3M |
| Total Liabilities | $1.6M |
| Net Assets | $-265,384 |
| Operating Margin | 6.6% |
| Debt-to-Asset Ratio | 119.8% |
| Months of Reserves | 46.9 months |
Financial Health Grade: A
In 2024, Housing Foundation reported a surplus of $24K with revenue exceeding expenses, holds 46.9 months of operating reserves (strong position), has a debt-to-asset ratio of 119.8% (high leverage).
Financial Trends
Over 13 years of filings (2012–2024), Housing Foundation's revenue has grown at a compound annual growth rate (CAGR) of 1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +9.2% | -6.2% | -1.4% |
| 2023 | +1.0% | +11.7% | -4.6% |
| 2022 | +2.3% | -0.5% | -2.3% |
| 2021 | -9.7% | -1.7% | -2.7% |
| 2020 | +8.7% | +4.2% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1979 |
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 Housing Foundation with a Mission Score of 85 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Housing Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $24K, with revenue exceeding expenses.
- Debt-to-asset ratio: 119.8%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer roles, which is highly efficient for an organization of its size with revenues around $300k-$400k annually.
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 Housing Foundation's IRS 990 filings:
- Liabilities consistently exceed assets, indicating potential long-term financial risk or specific asset-liability structure.
- Consistent decline in total assets over the past decade without clear explanation.
- NTEE code is unknown, limiting understanding of the organization's specific charitable focus.
Strengths
The following positive indicators were identified for Housing Foundation:
- Consistent operational surpluses in most recent years (e.g., $24,364 surplus in 2024).
- 0% officer compensation reported across all filings, indicating high efficiency in leadership costs.
- Consistent filing of IRS 990s over 13 periods, demonstrating regulatory compliance and transparency.
- Stable revenue generation over the past decade, generally in the $300k-$400k range.
Frequently Asked Questions about Housing Foundation
Is Housing Foundation a legitimate charity?
Housing Foundation (EIN: 10421229) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $409K. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Housing Foundation spend its money?
Housing Foundation directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Housing Foundation tax-deductible?
Housing Foundation is registered as a tax-exempt nonprofit (EIN: 10421229). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Housing Foundation CEO make?
Housing Foundation's highest-compensated officer earns $300k annually. The organization reported $409K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Housing Foundation's spending goes to programs?
Housing Foundation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Housing Foundation located?
Housing Foundation is headquartered in Orono, Maine and files with the IRS under EIN 10421229.
How many years of IRS 990 filings does Housing Foundation have?
Housing Foundation 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 $409K in total revenue.
What is the nature of the Housing Foundation's liabilities, which consistently exceed its assets?
The provided data shows liabilities consistently exceeding assets (e.g., $1,608,055 liabilities vs. $1,342,671 assets in 2024). Understanding the composition of these liabilities (e.g., mortgages, program-related debt, deferred revenue) is crucial for a complete financial picture.
What specific programs does the Housing Foundation operate to achieve its mission?
Without an NTEE code or program expense breakdown, the specific activities and impact of the Housing Foundation's programs are unclear. Further detail on program offerings would enhance understanding of its mission fulfillment.
Why have the organization's assets been steadily declining over the past decade?
Assets have decreased from $1,619,303 in 2015 to $1,342,671 in 2024. Investigating the reasons for this decline, such as depreciation, asset sales, or investment performance, is important for long-term sustainability assessment.
How does the Housing Foundation manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation is unusual for an organization of this size. Clarification on how leadership is structured and compensated (e.g., all volunteer board, staff compensated as non-officers) would provide valuable insight into its operational model.
Filing History
IRS 990 filing history for Housing Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Housing Foundation's revenue has grown by 12.5%, moving from $327K to $368K. Total assets increased by 34.2% over the same period, from $1.0M to $1.3M. Total functional expenses rose by 8.3%, from $317K to $344K. In its most recent filing year (2024), Housing Foundation reported a surplus of $24K, with revenue exceeding expenses. The organization holds $1.6M in liabilities against $1.3M in assets (debt-to-asset ratio: 119.8%), resulting in net assets of $-265,384.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $368K | $344K | $1.3M | $1.6M | — | — |
| 2023 | $337K | $366K | $1.4M | $1.7M | — | — |
| 2022 | $333K | $328K | $1.4M | $1.7M | — | View 990 |
| 2021 | $326K | $329K | $1.5M | $1.7M | — | View 990 |
| 2020 | $361K | $335K | $1.5M | $1.8M | — | View 990 |
| 2019 | $332K | $322K | $1.5M | $1.8M | — | View 990 |
| 2018 | $319K | $309K | $1.5M | $1.8M | — | View 990 |
| 2017 | $308K | $319K | $1.6M | $1.9M | — | View 990 |
| 2016 | $332K | $308K | $1.6M | $1.9M | — | View 990 |
| 2015 | $287K | $323K | $1.6M | $1.9M | — | View 990 |
| 2014 | $328K | $304K | $1.7M | $2.0M | — | View 990 |
| 2013 | $329K | $308K | $1.7M | $2.0M | — | View 990 |
| 2012 | $327K | $317K | $1.0M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $368K, expenses of $344K, and assets of $1.3M (revenue +9.2% year-over-year).
- 2023: Revenue of $337K, expenses of $366K, and assets of $1.4M (revenue +1.0% year-over-year).
- 2022: Revenue of $333K, expenses of $328K, and assets of $1.4M (revenue +2.3% year-over-year).
- 2021: Revenue of $326K, expenses of $329K, and assets of $1.5M (revenue -9.7% year-over-year).
- 2020: Revenue of $361K, expenses of $335K, and assets of $1.5M (revenue +8.7% year-over-year).
- 2019: Revenue of $332K, expenses of $322K, and assets of $1.5M (revenue +4.2% year-over-year).
- 2018: Revenue of $319K, expenses of $309K, and assets of $1.5M (revenue +3.3% year-over-year).
- 2017: Revenue of $308K, expenses of $319K, and assets of $1.6M (revenue -7.0% year-over-year).
- 2016: Revenue of $332K, expenses of $308K, and assets of $1.6M (revenue +15.5% year-over-year).
- 2015: Revenue of $287K, expenses of $323K, and assets of $1.6M (revenue -12.5% year-over-year).
- 2014: Revenue of $328K, expenses of $304K, and assets of $1.7M (revenue -0.2% year-over-year).
- 2013: Revenue of $329K, expenses of $308K, and assets of $1.7M (revenue +0.6% year-over-year).
- 2012: Revenue of $327K, expenses of $317K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Housing Foundation:
Data Sources and Methodology
This transparency report for Housing Foundation 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.