Norridgewock Housing Corp
Norridgewock Housing Corp maintains stable operations with volunteer leadership and declining assets.
EIN: 10346779 · Norridgewock, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $253K |
| Total Expenses | $239K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $200,000. |
| Net Assets | $316K |
| Transparency Score | 90/100 |
Is Norridgewock Housing Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Norridgewock Housing Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Norridgewock Housing Corp
Norridgewock Housing Corp (EIN: 10346779) is a nonprofit organization based in Norridgewock, ME. The organization reported total revenue of $253K and total assets of $424K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Norridgewock Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Norridgewock Housing Corp is a small nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $229K |
| Total Expenses | $239K |
| Surplus / Deficit | $-9,851 |
| Total Assets | $423K |
| Total Liabilities | $107K |
| Net Assets | $316K |
| Operating Margin | -4.3% |
| Debt-to-Asset Ratio | 25.3% |
| Months of Reserves | 21.2 months |
Financial Health Grade: B
In 2023, Norridgewock Housing Corp reported a deficit of $10K with expenses exceeding revenue, holds 21.2 months of operating reserves (strong position), has a debt-to-asset ratio of 25.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Norridgewock Housing Corp's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.2% | +8.2% | -4.2% |
| 2022 | +2.7% | +21.6% | -4.6% |
| 2021 | -6.7% | -8.0% | -0.9% |
| 2020 | +6.3% | -14.0% | -2.0% |
| 2019 | +9.1% | +17.5% | -7.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1978 |
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 Norridgewock Housing Corp with a Mission Score of 90 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Norridgewock Housing Corp allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $10K, with expenses exceeding revenue.
- Debt-to-asset ratio: 25.3%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is likely run by volunteers, which is highly commendable for a nonprofit of its size with annual revenues around $200,000.
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 Norridgewock Housing Corp's IRS 990 filings:
- Gradual decline in total assets over the past several years (from $545,244 in 2017 to $422,629 in 2023).
Strengths
The following positive indicators were identified for Norridgewock Housing Corp:
- Consistent 0% officer compensation, indicating volunteer leadership and efficient use of funds.
- Long history of IRS 990 filings (13 filings), demonstrating transparency.
- Stable revenue generation over the past decade, supporting ongoing operations.
- Reduction in liabilities over time, improving financial stability.
Frequently Asked Questions about Norridgewock Housing Corp
Is Norridgewock Housing Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Norridgewock Housing Corp (EIN: 10346779) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Norridgewock Housing Corp spend its money?
Norridgewock Housing Corp directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Norridgewock Housing Corp tax-deductible?
Norridgewock Housing Corp is registered as a tax-exempt nonprofit (EIN: 10346779). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Norridgewock Housing Corp CEO make?
Norridgewock Housing Corp's highest-compensated officer earns $200,000. annually. The organization reported $253K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Norridgewock Housing Corp located?
Norridgewock Housing Corp is headquartered in Norridgewock, Maine and files with the IRS under EIN 10346779.
How many years of IRS 990 filings does Norridgewock Housing Corp have?
Norridgewock 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 $253K in total revenue.
Is Norridgewock Housing Corp a good charity?
Based on the available financial data, Norridgewock Housing Corp appears to be a well-managed organization. Its consistent reporting of 0% officer compensation suggests a strong commitment to its mission and efficient use of funds, making it a potentially good charity.
How has Norridgewock Housing Corp's financial health changed over time?
Over the past decade, Norridgewock Housing Corp has maintained relatively stable revenue and expenses. Its assets have gradually decreased from $545,244 in 2017 to $422,629 in 2023, while liabilities have also been reduced from $195,877 to $106,796, indicating a controlled financial position.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation, indicating that its leadership is likely volunteer-based, which is a significant strength in terms of directing resources to its mission.
Filing History
IRS 990 filing history for Norridgewock Housing Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Norridgewock Housing Corp's revenue has grown by 28.8%, moving from $178K to $229K. Total assets decreased by 21.6% over the same period, from $539K to $423K. Total functional expenses rose by 43.5%, from $167K to $239K. In its most recent filing year (2023), Norridgewock Housing Corp reported a deficit of $10K, with expenses exceeding revenue. The organization holds $107K in liabilities against $423K in assets (debt-to-asset ratio: 25.3%), resulting in net assets of $316K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $229K | $239K | $423K | $107K | — | — |
| 2022 | $204K | $221K | $441K | $116K | — | View 990 |
| 2021 | $199K | $182K | $463K | $120K | — | View 990 |
| 2020 | $213K | $197K | $467K | $142K | — | — |
| 2019 | $201K | $230K | $477K | $168K | — | View 990 |
| 2018 | $184K | $195K | $517K | $179K | — | View 990 |
| 2017 | $191K | $168K | $545K | $196K | — | View 990 |
| 2016 | $190K | $164K | $537K | $211K | — | View 990 |
| 2015 | $191K | $156K | $529K | $227K | — | View 990 |
| 2014 | $171K | $176K | $508K | $241K | — | View 990 |
| 2013 | $175K | $160K | $535K | $263K | — | View 990 |
| 2012 | $176K | $168K | $534K | $277K | — | View 990 |
| 2011 | $178K | $167K | $539K | $291K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $229K, expenses of $239K, and assets of $423K (revenue +12.2% year-over-year).
- 2022: Revenue of $204K, expenses of $221K, and assets of $441K (revenue +2.7% year-over-year).
- 2021: Revenue of $199K, expenses of $182K, and assets of $463K (revenue -6.7% year-over-year).
- 2020: Revenue of $213K, expenses of $197K, and assets of $467K (revenue +6.3% year-over-year).
- 2019: Revenue of $201K, expenses of $230K, and assets of $477K (revenue +9.1% year-over-year).
- 2018: Revenue of $184K, expenses of $195K, and assets of $517K (revenue -3.7% year-over-year).
- 2017: Revenue of $191K, expenses of $168K, and assets of $545K (revenue +0.8% year-over-year).
- 2016: Revenue of $190K, expenses of $164K, and assets of $537K (revenue -0.5% year-over-year).
- 2015: Revenue of $191K, expenses of $156K, and assets of $529K (revenue +11.6% year-over-year).
- 2014: Revenue of $171K, expenses of $176K, and assets of $508K (revenue -2.5% year-over-year).
- 2013: Revenue of $175K, expenses of $160K, and assets of $535K (revenue -0.7% year-over-year).
- 2012: Revenue of $176K, expenses of $168K, and assets of $534K (revenue -0.8% year-over-year).
- 2011: Revenue of $178K, expenses of $167K, and assets of $539K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Norridgewock Housing Corp:
Data Sources and Methodology
This transparency report for Norridgewock 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.