Mattanawcook Terrace Housing Corp
Mattanawcook Terrace Housing Corp maintains operational stability despite persistent negative net assets.
EIN: 10325912 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $275K |
| Total Expenses | $244K |
| Program Spending | 85% |
| Net Assets | $-268,056 |
| Transparency Score | 70/100 |
Is Mattanawcook 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 →
Mattanawcook Terrace Housing Corp directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mattanawcook Terrace Housing Corp
Mattanawcook Terrace Housing Corp (EIN: 10325912) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $275K and total assets of $951K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mattanawcook Terrace Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mattanawcook Terrace Housing Corp is a small nonprofit that has been operating for 49 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $251K |
| Total Expenses | $244K |
| Surplus / Deficit | +$8K |
| Total Assets | $1.0M |
| Total Liabilities | $1.3M |
| Net Assets | $-268,056 |
| Operating Margin | 3.0% |
| Debt-to-Asset Ratio | 126.7% |
| Months of Reserves | 49.5 months |
Financial Health Grade: A
In 2023, Mattanawcook Terrace Housing Corp reported a surplus of $8K with revenue exceeding expenses, holds 49.5 months of operating reserves (strong position), has a debt-to-asset ratio of 126.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Mattanawcook Terrace Housing Corp's revenue has declined at a compound annual growth rate (CAGR) of -0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17.5% | -0.3% | +1.5% |
| 2022 | +0.0% | +14.6% | -4.7% |
| 2021 | +2.0% | -1.2% | -1.9% |
| 2020 | +4.7% | -11.4% | -0.6% |
| 2019 | -3.6% | +4.5% | -3.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 0000 |
| IRS Ruling Date | 1977 |
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 Mattanawcook Terrace Housing Corp with a Mission Score of 70 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: 85%
- fundraising: 0%
According to IRS 990 filings, Mattanawcook Terrace Housing Corp allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% 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 surplus of $8K, with revenue exceeding expenses.
- Debt-to-asset ratio: 126.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are either unpaid volunteers or compensated through other means not categorized as officer compensation, which suggests a very lean administrative overhead at the top.
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 Mattanawcook Terrace Housing Corp's IRS 990 filings:
- Consistent negative net assets (liabilities exceeding assets in all reported periods, e.g., $1,273,819 liabilities vs. $1,005,763 assets in 202312)
- Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data, making efficiency analysis difficult
- NTEE code is unknown, hindering comparison to peer organizations
Strengths
The following positive indicators were identified for Mattanawcook Terrace Housing Corp:
- Consistent operational activity and long history of filings (13 years), indicating stability
- Zero reported officer compensation across all filings, suggesting low executive overhead
- Generally operates at or near break-even, with a slight surplus in the latest period ($251,111 revenue vs. $243,588 expenses in 202312)
- Stable asset base over time, despite fluctuations
Frequently Asked Questions about Mattanawcook Terrace Housing Corp
Is Mattanawcook Terrace Housing Corp a legitimate charity?
Mattanawcook Terrace Housing Corp (EIN: 10325912) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 70/100. It has 13 years of IRS 990 filings on record. Total revenue: $275K. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Mattanawcook Terrace Housing Corp spend its money?
Mattanawcook Terrace Housing Corp directs 85% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Mattanawcook Terrace Housing Corp tax-deductible?
Mattanawcook Terrace Housing Corp is registered as a tax-exempt nonprofit (EIN: 10325912). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Mattanawcook Terrace Housing Corp located?
Mattanawcook Terrace Housing Corp is headquartered in Bangor, Maine and files with the IRS under EIN 10325912.
How many years of IRS 990 filings does Mattanawcook Terrace Housing Corp have?
Mattanawcook 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 $275K in total revenue.
Is Mattanawcook Terrace Housing Corp financially sustainable given its consistent negative net assets?
While the organization consistently operates with liabilities exceeding assets (e.g., $1,273,819 liabilities vs. $1,005,763 assets in 202312), its consistent operational surpluses or near break-even expenses suggest it can cover its annual costs. The negative net assets might be typical for certain housing models with significant long-term debt, but it warrants further investigation into the nature of these liabilities and assets.
What are the specific programs Mattanawcook Terrace Housing Corp operates?
The provided data does not specify the exact programs. As a housing corporation, it likely provides affordable housing or related services, but without an NTEE code or detailed program descriptions from the 990, specifics are unknown.
How does Mattanawcook Terrace Housing Corp manage to operate without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that compensation is structured in a way that it is not reported under 'officer compensation' on the 990. This indicates a commitment to minimizing administrative costs at the executive level.
Filing History
IRS 990 filing history for Mattanawcook Terrace Housing Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Mattanawcook Terrace Housing Corp's revenue has declined by 3.5%, moving from $260K to $251K. Total assets decreased by 19% over the same period, from $1.2M to $1.0M. Total functional expenses rose by 7%, from $228K to $244K. In its most recent filing year (2023), Mattanawcook Terrace Housing Corp reported a surplus of $8K, with revenue exceeding expenses. The organization holds $1.3M in liabilities against $1.0M in assets (debt-to-asset ratio: 126.7%), resulting in net assets of $-268,056.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $251K | $244K | $1.0M | $1.3M | — | — |
| 2022 | $214K | $244K | $991K | $1.3M | — | — |
| 2021 | $214K | $213K | $1.0M | $1.3M | — | View 990 |
| 2020 | $209K | $216K | $1.1M | $1.4M | — | View 990 |
| 2019 | $200K | $243K | $1.1M | $1.4M | — | — |
| 2018 | $208K | $233K | $1.1M | $1.4M | — | View 990 |
| 2017 | $209K | $224K | $1.1M | $1.4M | — | View 990 |
| 2016 | $219K | $226K | $1.2M | $1.4M | — | View 990 |
| 2015 | $221K | $221K | $1.2M | $1.4M | — | View 990 |
| 2014 | $220K | $243K | $1.2M | $1.4M | — | View 990 |
| 2013 | $220K | $238K | $1.2M | $1.4M | — | View 990 |
| 2012 | $220K | $252K | $1.2M | $1.4M | — | View 990 |
| 2011 | $260K | $228K | $1.2M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $251K, expenses of $244K, and assets of $1.0M (revenue +17.5% year-over-year).
- 2022: Revenue of $214K, expenses of $244K, and assets of $991K (revenue +0.0% year-over-year).
- 2021: Revenue of $214K, expenses of $213K, and assets of $1.0M (revenue +2.0% year-over-year).
- 2020: Revenue of $209K, expenses of $216K, and assets of $1.1M (revenue +4.7% year-over-year).
- 2019: Revenue of $200K, expenses of $243K, and assets of $1.1M (revenue -3.6% year-over-year).
- 2018: Revenue of $208K, expenses of $233K, and assets of $1.1M (revenue -0.6% year-over-year).
- 2017: Revenue of $209K, expenses of $224K, and assets of $1.1M (revenue -4.6% year-over-year).
- 2016: Revenue of $219K, expenses of $226K, and assets of $1.2M (revenue -0.9% year-over-year).
- 2015: Revenue of $221K, expenses of $221K, and assets of $1.2M (revenue +0.2% year-over-year).
- 2014: Revenue of $220K, expenses of $243K, and assets of $1.2M (revenue +0.2% year-over-year).
- 2013: Revenue of $220K, expenses of $238K, and assets of $1.2M (revenue +0.0% year-over-year).
- 2012: Revenue of $220K, expenses of $252K, and assets of $1.2M (revenue -15.5% year-over-year).
- 2011: Revenue of $260K, expenses of $228K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mattanawcook Terrace Housing Corp:
Data Sources and Methodology
This transparency report for Mattanawcook 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.