New Marblehead North Housing Corporation
New Marblehead North Housing Corporation: Stable Operations, Limited Growth
EIN: 222628311 · Portland, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $278K |
| Total Expenses | $273K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $7K |
| Transparency Score | 75/100 |
Is New Marblehead North Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Marblehead North Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Marblehead North Housing Corporation
New Marblehead North Housing Corporation (EIN: 222628311) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $278K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Marblehead North Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Marblehead North Housing Corporation is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $256K |
| Total Expenses | $273K |
| Surplus / Deficit | $-16,337 |
| Total Assets | $1.1M |
| Total Liabilities | $1.1M |
| Net Assets | $7K |
| Operating Margin | -6.4% |
| Debt-to-Asset Ratio | 99.3% |
| Months of Reserves | 49.6 months |
Financial Health Grade: C
In 2023, New Marblehead North Housing Corporation reported a deficit of $16K with expenses exceeding revenue, holds 49.6 months of operating reserves (strong position), has a debt-to-asset ratio of 99.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), New Marblehead North Housing Corporation's revenue has declined at a compound annual growth rate (CAGR) of -1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.7% | +9.0% | -3.0% |
| 2022 | +0.5% | +7.3% | -3.6% |
| 2021 | -2.6% | +21.3% | -1.0% |
| 2020 | +4.9% | +0.2% | +114.0% |
| 2019 | -0.1% | -8.9% | +1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 New Marblehead North Housing Corporation with a Mission Score of 75 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, New Marblehead North Housing Corporation 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16K, with expenses exceeding revenue.
- Debt-to-asset ratio: 99.3%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting a volunteer-led or extremely lean operational structure for leadership.
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 New Marblehead North Housing Corporation's IRS 990 filings:
- Consistent reporting of $0 executive compensation may indicate a lack of transparency regarding actual leadership costs or a fully volunteer-run model that should be clarified.
- The organization's assets have been steadily declining from $1,205,761 in 2021 to $1,106,073 in 2023, warranting further investigation into the cause.
Strengths
The following positive indicators were identified for New Marblehead North Housing Corporation:
- Stable revenue generation over several years, consistently around $230,000 - $250,000.
- Low administrative and fundraising overhead, indicating a high percentage of funds likely go directly to programs.
- Consistent operational history dating back to at least 2016.
Frequently Asked Questions about New Marblehead North Housing Corporation
Is New Marblehead North Housing Corporation a legitimate charity?
New Marblehead North Housing Corporation (EIN: 222628311) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $278K. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does New Marblehead North Housing Corporation spend its money?
New Marblehead North Housing Corporation directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New Marblehead North Housing Corporation tax-deductible?
New Marblehead North Housing Corporation is registered as a tax-exempt nonprofit (EIN: 222628311). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New Marblehead North Housing Corporation CEO make?
New Marblehead North Housing Corporation's highest-compensated officer earns $0 annually. The organization reported $278K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New Marblehead North Housing Corporation's spending goes to programs?
New Marblehead North Housing Corporation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is New Marblehead North Housing Corporation located?
New Marblehead North Housing Corporation is headquartered in Portland, Maine and files with the IRS under EIN 222628311.
How many years of IRS 990 filings does New Marblehead North Housing Corporation have?
New Marblehead North Housing Corporation 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 $278K in total revenue.
What does New Marblehead North Housing Corporation do?
New Marblehead North Housing Corporation is a nonprofit organization in the Unknown sector, located in Portland, Maine. It is classified under NTEE code Unknown.
How much revenue does New Marblehead North Housing Corporation have?
New Marblehead North Housing Corporation reported total revenue of $278,244. Based on 13 IRS 990 filings on record.
What are New Marblehead North Housing Corporation's total assets?
New Marblehead North Housing Corporation holds total assets of $1,106,073 as reported in IRS 990 filings.
Where is New Marblehead North Housing Corporation located?
New Marblehead North Housing Corporation is based in Portland, Maine.
What is New Marblehead North Housing Corporation's EIN?
New Marblehead North Housing Corporation's Employer Identification Number (EIN) is 222628311. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Marblehead North Housing Corporation?
New Marblehead North Housing Corporation is classified under NTEE code Unknown (Unknown).
Is New Marblehead North Housing Corporation a registered 501(c)(3)?
New Marblehead North Housing Corporation appears in IRS records (EIN: 222628311). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does New Marblehead North Housing Corporation file IRS Form 990?
Yes, New Marblehead North Housing Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was New Marblehead North Housing Corporation's revenue in 2023?
In the 202312 filing period, New Marblehead North Housing Corporation reported total revenue of $256,176, total expenses of $272,513, and net assets of $1,126,713.
Is New Marblehead North Housing Corporation's revenue growing or declining?
New Marblehead North Housing Corporation's revenue is growing. Revenue went from $242,298 (202212) to $256,176 (202312), a +5.7% change. Based on 13 filings on record.
What is New Marblehead North Housing Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for New Marblehead North Housing Corporation covers tax period 202312. It shows revenue of $256,176, expenses of $272,513, total assets of $1,126,713, and liabilities of $1,119,272.
How much does New Marblehead North Housing Corporation spend on programs vs administration?
Based on IRS 990 analysis, New Marblehead North Housing Corporation allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is New Marblehead North Housing Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, New Marblehead North Housing Corporation appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for New Marblehead North Housing Corporation?
The following concerns were identified: Consistent reporting of $0 executive compensation may indicate a lack of transparency regarding actual leadership costs or a fully volunteer-run model that should be clarified.. The organization's assets have been steadily declining from $1,205,761 in 2021 to $1,106,073 in 2023, warranting further investigation into the cause.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Marblehead North Housing Corporation's strengths?
Positive indicators for New Marblehead North Housing Corporation include: Stable revenue generation over several years, consistently around $230,000 - $250,000.. Low administrative and fundraising overhead, indicating a high percentage of funds likely go directly to programs.. Consistent operational history dating back to at least 2016.. These findings are derived from AI analysis of the organization's financial filings.
How does New Marblehead North Housing Corporation compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting a volunteer-led or extremely lean operational structure for leadership. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is New Marblehead North Housing Corporation?
• The organization consistently reports 0% compensation for its officers, directors, trustees, and key employees across all available filings. • Detailed program spending is not explicitly broken down in the provided data, making it difficult to assess the specific allocation within programs. • Financial statements show consistent revenue and expenses, indicating stable but not expanding operations. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent $0 executive compensation, how does the organization manage its leadership and operational oversight without incurring any reported personnel costs for key roles?
The consistent reporting of $0 for officer, director, trustee, and key employee compensation suggests either a fully volunteer-led organization at the highest levels or that these costs are absorbed and reported under other expense categories, which would require further clarification to understand the true cost of leadership.
What specific programs or services does New Marblehead North Housing Corporation provide, and how are the funds allocated within these programs, given the high program spending percentage?
While the spending breakdown indicates a high percentage for programs, the provided data does not detail the specific nature of these programs (e.g., housing development, rental assistance, maintenance). Understanding the exact services and their internal allocation would provide a clearer picture of impact.
Filing History
IRS 990 filing history for New Marblehead North Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Marblehead North Housing Corporation's revenue has declined by 20.7%, moving from $323K to $256K. Total assets increased by 27.7% over the same period, from $882K to $1.1M. Total functional expenses rose by 37.8%, from $198K to $273K. In its most recent filing year (2023), New Marblehead North Housing Corporation reported a deficit of $16K, with expenses exceeding revenue. The organization holds $1.1M in liabilities against $1.1M in assets (debt-to-asset ratio: 99.3%), resulting in net assets of $7K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $256K | $273K | $1.1M | $1.1M | — | — |
| 2022 | $242K | $250K | $1.2M | $1.1M | — | View 990 |
| 2021 | $241K | $233K | $1.2M | $1.2M | — | View 990 |
| 2020 | $247K | $192K | $1.2M | $1.2M | — | View 990 |
| 2019 | $236K | $192K | $569K | $601K | — | View 990 |
| 2018 | $236K | $211K | $559K | $635K | — | View 990 |
| 2017 | $231K | $215K | $552K | $654K | — | View 990 |
| 2016 | $229K | $202K | $564K | $682K | — | View 990 |
| 2015 | $223K | $217K | $579K | $724K | — | View 990 |
| 2014 | $218K | $243K | $602K | $753K | — | View 990 |
| 2013 | $218K | $228K | $762K | $889K | — | View 990 |
| 2012 | $215K | $413K | $868K | $984K | — | View 990 |
| 2011 | $323K | $198K | $882K | $801K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $256K, expenses of $273K, and assets of $1.1M (revenue +5.7% year-over-year).
- 2022: Revenue of $242K, expenses of $250K, and assets of $1.2M (revenue +0.5% year-over-year).
- 2021: Revenue of $241K, expenses of $233K, and assets of $1.2M (revenue -2.6% year-over-year).
- 2020: Revenue of $247K, expenses of $192K, and assets of $1.2M (revenue +4.9% year-over-year).
- 2019: Revenue of $236K, expenses of $192K, and assets of $569K (revenue -0.1% year-over-year).
- 2018: Revenue of $236K, expenses of $211K, and assets of $559K (revenue +2.3% year-over-year).
- 2017: Revenue of $231K, expenses of $215K, and assets of $552K (revenue +0.8% year-over-year).
- 2016: Revenue of $229K, expenses of $202K, and assets of $564K (revenue +2.4% year-over-year).
- 2015: Revenue of $223K, expenses of $217K, and assets of $579K (revenue +2.7% year-over-year).
- 2014: Revenue of $218K, expenses of $243K, and assets of $602K (revenue -0.3% year-over-year).
- 2013: Revenue of $218K, expenses of $228K, and assets of $762K (revenue +1.6% year-over-year).
- 2012: Revenue of $215K, expenses of $413K, and assets of $868K (revenue -33.4% year-over-year).
- 2011: Revenue of $323K, expenses of $198K, and assets of $882K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Marblehead North Housing Corporation:
Data Sources and Methodology
This transparency report for New Marblehead North Housing Corporation 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.