Mattawamkeag Housing Corp
Mattawamkeag Housing Corp consistently operates at a deficit with declining assets and high liabilities.
EIN: 10353284 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $214K |
| Total Expenses | $206K |
| Program Spending | 80% |
| Net Assets | $-366,383 |
| Transparency Score | 55/100 |
Is Mattawamkeag Housing Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mattawamkeag Housing Corp directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mattawamkeag Housing Corp
Mattawamkeag Housing Corp (EIN: 10353284) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $214K and total assets of $521K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mattawamkeag Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mattawamkeag Housing Corp is a small nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $196K |
| Total Expenses | $206K |
| Surplus / Deficit | $-9,803 |
| Total Assets | $508K |
| Total Liabilities | $874K |
| Net Assets | $-366,383 |
| Operating Margin | -5.0% |
| Debt-to-Asset Ratio | 172.2% |
| Months of Reserves | 29.6 months |
Financial Health Grade: C
In 2023, Mattawamkeag Housing Corp reported a deficit of $10K with expenses exceeding revenue, holds 29.6 months of operating reserves (strong position), has a debt-to-asset ratio of 172.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Mattawamkeag Housing Corp's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.2% | +6.9% | -2.6% |
| 2022 | +2.1% | +3.9% | -1.3% |
| 2021 | +6.5% | +0.3% | -3.3% |
| 2020 | -4.8% | +4.8% | -4.0% |
| 2019 | +2.9% | -2.4% | -0.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Mattawamkeag Housing Corp with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 80%
- fundraising: 0%
According to IRS 990 filings, Mattawamkeag Housing Corp allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. 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 $10K, with expenses exceeding revenue.
- Debt-to-asset ratio: 172.2%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no funds are allocated to officer salaries, which is a positive sign for resource allocation towards the organization's mission.
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 Mattawamkeag Housing Corp's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) across multiple years, such as $206,009 in expenses vs. $196,206 in revenue in 202312.
- Liabilities consistently exceed assets by a significant margin (e.g., $873,960 in liabilities vs. $507,577 in assets in 202312), indicating a high debt burden.
- Declining asset base over time, from $593,743 in 201412 to $507,577 in 202312, suggesting a potential erosion of financial reserves.
- Lack of detailed expense breakdown in the provided data makes it difficult to assess program efficiency and administrative overhead accurately.
Strengths
The following positive indicators were identified for Mattawamkeag Housing Corp:
- Consistent filing of IRS 990 forms over 13 periods, indicating a commitment to regulatory compliance.
- 0% officer compensation reported across all filings, suggesting that resources are not being diverted to executive salaries.
- Long operational history with consistent revenue streams, albeit often outpaced by expenses.
Frequently Asked Questions about Mattawamkeag Housing Corp
Is Mattawamkeag Housing Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Mattawamkeag Housing Corp (EIN: 10353284) some concerns. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.
How does Mattawamkeag Housing Corp spend its money?
Mattawamkeag Housing Corp directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mattawamkeag Housing Corp tax-deductible?
Mattawamkeag Housing Corp is registered as a tax-exempt nonprofit (EIN: 10353284). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Mattawamkeag Housing Corp located?
Mattawamkeag Housing Corp is headquartered in Bangor, Maine and files with the IRS under EIN 10353284.
How many years of IRS 990 filings does Mattawamkeag Housing Corp have?
Mattawamkeag 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 $214K in total revenue.
Is Mattawamkeag Housing Corp financially sustainable given its consistent operational deficits?
The organization has consistently reported expenses exceeding revenue, for example, $206,009 in expenses vs. $196,206 in revenue in 202312. This trend, coupled with declining assets and high liabilities, raises concerns about long-term financial sustainability.
What is the nature of Mattawamkeag Housing Corp's significant liabilities?
The organization consistently carries liabilities significantly higher than its assets (e.g., $873,960 in liabilities vs. $507,577 in assets in 202312). Understanding the nature of these liabilities (e.g., mortgages, program-related debt) is crucial for assessing financial risk.
How does Mattawamkeag Housing Corp cover its operational deficits?
With consistent deficits (e.g., $9,803 in 202312 and $17,908 in 202212), the organization must be drawing from reserves, receiving non-operating income, or incurring further debt to cover its expenses. The filings do not provide enough detail to determine the exact mechanism.
Filing History
IRS 990 filing history for Mattawamkeag Housing Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Mattawamkeag Housing Corp's revenue has grown by 35.1%, moving from $145K to $196K. Total assets decreased by 18.6% over the same period, from $624K to $508K. Total functional expenses rose by 14.9%, from $179K to $206K. In its most recent filing year (2023), Mattawamkeag Housing Corp reported a deficit of $10K, with expenses exceeding revenue. The organization holds $874K in liabilities against $508K in assets (debt-to-asset ratio: 172.2%), resulting in net assets of $-366,383.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $196K | $206K | $508K | $874K | — | — |
| 2022 | $175K | $193K | $521K | $878K | — | — |
| 2021 | $171K | $186K | $528K | $867K | — | View 990 |
| 2020 | $161K | $185K | $546K | $870K | — | View 990 |
| 2019 | $169K | $177K | $568K | $868K | — | View 990 |
| 2018 | $164K | $181K | $570K | $862K | — | View 990 |
| 2017 | $158K | $166K | $579K | $854K | — | View 990 |
| 2016 | $156K | $166K | $581K | $848K | — | View 990 |
| 2015 | $158K | $170K | $587K | $844K | — | View 990 |
| 2014 | $160K | $158K | $594K | $839K | — | View 990 |
| 2013 | $151K | $166K | $592K | $839K | — | View 990 |
| 2012 | $153K | $188K | $594K | $826K | — | View 990 |
| 2011 | $145K | $179K | $624K | $820K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $196K, expenses of $206K, and assets of $508K (revenue +12.2% year-over-year).
- 2022: Revenue of $175K, expenses of $193K, and assets of $521K (revenue +2.1% year-over-year).
- 2021: Revenue of $171K, expenses of $186K, and assets of $528K (revenue +6.5% year-over-year).
- 2020: Revenue of $161K, expenses of $185K, and assets of $546K (revenue -4.8% year-over-year).
- 2019: Revenue of $169K, expenses of $177K, and assets of $568K (revenue +2.9% year-over-year).
- 2018: Revenue of $164K, expenses of $181K, and assets of $570K (revenue +4.2% year-over-year).
- 2017: Revenue of $158K, expenses of $166K, and assets of $579K (revenue +0.8% year-over-year).
- 2016: Revenue of $156K, expenses of $166K, and assets of $581K (revenue -0.9% year-over-year).
- 2015: Revenue of $158K, expenses of $170K, and assets of $587K (revenue -1.5% year-over-year).
- 2014: Revenue of $160K, expenses of $158K, and assets of $594K (revenue +6.1% year-over-year).
- 2013: Revenue of $151K, expenses of $166K, and assets of $592K (revenue -1.1% year-over-year).
- 2012: Revenue of $153K, expenses of $188K, and assets of $594K (revenue +5.1% year-over-year).
- 2011: Revenue of $145K, expenses of $179K, and assets of $624K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mattawamkeag Housing Corp:
Data Sources and Methodology
This transparency report for Mattawamkeag 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.