Island Falls Housing Corp

Island Falls Housing Corp maintains stable operations with no executive compensation, showing consistent revenue growth and reduced liabilities.

EIN: 10365386 · Caribou, ME · Updated: 2026-03-28

$332KRevenue

$459KAssets

92/100Mission Score (Excellent)

About Island Falls Housing Corp

Island Falls Housing Corp (EIN: 10365386) is a nonprofit organization based in Caribou, ME. The organization reported total revenue of $332K and total assets of $459K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Island Falls Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Island Falls Housing Corp appears to be a stable, albeit small, nonprofit focused on housing. Over the past decade, its revenue has shown a gradual increase, from $232,225 in 2014 to $332,558 in 2023, indicating a consistent operational capacity. Expenses have generally tracked revenue, with the organization operating at a slight surplus in most recent years, such as 2023 where revenue exceeded expenses by over $61,000. This suggests sound financial management and an ability to cover its operational costs.

The organization's assets have seen a gradual decline over the past decade, from $605,090 in 2014 to $486,624 in 2023, while liabilities have also decreased significantly, from $381,673 to $181,244 over the same period. This reduction in liabilities is a positive indicator of financial health. The consistent reporting of 0% officer compensation across all filings demonstrates a commitment to directing funds towards its mission rather than executive salaries, enhancing its transparency and public trust.

Given the consistent financial reporting and the absence of officer compensation, Island Falls Housing Corp demonstrates a high degree of transparency. Its financial health appears stable, with a consistent revenue stream and controlled expenses. The organization's focus on its mission is further supported by the lack of executive compensation, suggesting efficient use of resources.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Island Falls Housing Corp with a Mission Score of 92 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: 7%
programs: 90%
fundraising: 3%

According to IRS 990 filings, Island Falls Housing Corp allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Island Falls Housing Corp consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly commendable for an organization of its size.

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 Island Falls Housing Corp:

Consistent 0% officer compensation, indicating strong mission focus.
Stable and growing revenue stream, from $232,225 in 2014 to $332,558 in 2023.
Significant reduction in liabilities, from $381,673 in 2014 to $181,244 in 2023.
Generally operates with a surplus, as seen in 2023 with revenue exceeding expenses by over $61,000.
High transparency due to consistent and clear financial reporting.

Frequently Asked Questions about Island Falls Housing Corp

Is Island Falls Housing Corp a good charity?

Based on the available data, Island Falls Housing Corp appears to be a good charity. It consistently reports 0% officer compensation, indicating that all funds are directed towards its mission. Its financial health is stable, with consistent revenue and decreasing liabilities.

How has Island Falls Housing Corp's revenue trended over the last decade?

Island Falls Housing Corp's revenue has shown a positive trend over the last decade, increasing from $232,225 in 2014 to $332,558 in 2023, indicating growth and stability.

What is the organization's approach to executive compensation?

The organization has a highly commendable approach to executive compensation, consistently reporting 0% officer compensation in all its IRS 990 filings, meaning no funds are used for executive salaries.

Are the organization's assets growing or shrinking?

The organization's assets have shown a gradual decline over the last decade, from $605,090 in 2014 to $486,624 in 2023. However, liabilities have also significantly decreased, which is a positive sign.

How does Island Falls Housing Corp manage its liabilities?

Island Falls Housing Corp has significantly reduced its liabilities over the past decade, from $381,673 in 2014 to $181,244 in 2023, indicating strong financial management and a healthier balance sheet.

Filing History

IRS 990 filing history for Island Falls Housing Corp showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Island Falls Housing Corp's revenue has grown by 39%, moving from $239K to $333K. Total assets decreased by 25.6% over the same period, from $654K to $487K. Total functional expenses rose by 18.8%, from $228K to $271K. In its most recent filing year (2023), Island Falls Housing Corp reported a surplus of $62K, with revenue exceeding expenses. The organization holds $181K in liabilities against $487K in assets (debt-to-asset ratio: 37.2%), resulting in net assets of $305K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$333K	$271K	$487K	$181K	—	—
2022	$290K	$308K	$454K	$210K	—	View 990
2021	$257K	$253K	$493K	$232K	—	—
2020	$251K	$237K	$506K	$249K	—	—
2019	$238K	$239K	$512K	$269K	—	View 990
2018	$239K	$247K	$535K	$291K	—	View 990
2017	$242K	$222K	$568K	$315K	—	View 990
2016	$251K	$230K	$566K	$333K	—	View 990
2015	$232K	$243K	$568K	$355K	—	View 990
2014	$232K	$252K	$605K	$382K	—	View 990
2013	$235K	$221K	$642K	$398K	—	View 990
2012	$237K	$224K	$647K	$417K	—	View 990
2011	$239K	$228K	$654K	$436K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $333K, expenses of $271K, and assets of $487K (revenue +14.6% year-over-year).
2022: Revenue of $290K, expenses of $308K, and assets of $454K (revenue +13.1% year-over-year).
2021: Revenue of $257K, expenses of $253K, and assets of $493K (revenue +2.3% year-over-year).
2020: Revenue of $251K, expenses of $237K, and assets of $506K (revenue +5.5% year-over-year).
2019: Revenue of $238K, expenses of $239K, and assets of $512K (revenue -0.4% year-over-year).
2018: Revenue of $239K, expenses of $247K, and assets of $535K (revenue -1.4% year-over-year).
2017: Revenue of $242K, expenses of $222K, and assets of $568K (revenue -3.4% year-over-year).
2016: Revenue of $251K, expenses of $230K, and assets of $566K (revenue +8.0% year-over-year).
2015: Revenue of $232K, expenses of $243K, and assets of $568K (revenue +0.0% year-over-year).
2014: Revenue of $232K, expenses of $252K, and assets of $605K (revenue -1.0% year-over-year).
2013: Revenue of $235K, expenses of $221K, and assets of $642K (revenue -1.1% year-over-year).
2012: Revenue of $237K, expenses of $224K, and assets of $647K (revenue -0.9% year-over-year).
2011: Revenue of $239K, expenses of $228K, and assets of $654K.

Data Sources and Methodology

This transparency report for Island Falls 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.