Pleasant Street Housing Inc
Pleasant Street Housing Inc. faces persistent deficits and high liabilities despite consistent revenue, with no officer compensation reported.
EIN: 10406611 · Portland, ME · NTEE: L21Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $284K |
| Total Expenses | $395K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $157,019 |
| Net Assets | $-395,138 |
| Transparency Score | 70/100 |
Is Pleasant Street Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Pleasant Street Housing Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Pleasant Street Housing Inc
Pleasant Street Housing Inc (EIN: 10406611) is a nonprofit organization based in Portland, ME, classified under NTEE code L21Z. The organization reported total revenue of $284K and total assets of $547K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pleasant Street Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Pleasant Street Housing Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $359K |
| Total Expenses | $395K |
| Surplus / Deficit | $-36,178 |
| Total Assets | $617K |
| Total Liabilities | $1.0M |
| Net Assets | $-395,138 |
| Operating Margin | -10.1% |
| Debt-to-Asset Ratio | 164.1% |
| Months of Reserves | 18.7 months |
Financial Health Grade: C
In 2023, Pleasant Street Housing Inc reported a deficit of $36K with expenses exceeding revenue, holds 18.7 months of operating reserves (strong position), has a debt-to-asset ratio of 164.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Pleasant Street Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +40.6% | +36.1% | -7.1% |
| 2022 | +-0.0% | +18.3% | -8.6% |
| 2021 | +1.8% | +8.8% | -0.7% |
| 2020 | +3.2% | -14.4% | +0.9% |
| 2019 | +1.4% | +5.5% | -2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Pleasant Street Housing Inc 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Pleasant Street Housing Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $36K, with expenses exceeding revenue.
- Debt-to-asset ratio: 164.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly commendable for a nonprofit of its size with revenues ranging from $157,019 to $358,664.
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 Pleasant Street Housing Inc's IRS 990 filings:
- Consistent net deficits (e.g., $394,842 expenses vs. $358,664 revenue in 2023).
- Liabilities consistently exceed assets (e.g., $1,011,952 liabilities vs. $616,814 assets in 2023).
- Declining asset base over the past decade (from $865,276 in 2014 to $616,814 in 2023).
Strengths
The following positive indicators were identified for Pleasant Street Housing Inc:
- 0% officer compensation reported across all filings, indicating high efficiency in executive pay.
- Consistent operation and filing history over 13 periods, demonstrating longevity.
- Clear focus on mission with resources directed away from executive salaries.
Frequently Asked Questions about Pleasant Street Housing Inc
Is Pleasant Street Housing Inc a legitimate charity?
Pleasant Street Housing Inc (EIN: 10406611) 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: $284K. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Pleasant Street Housing Inc spend its money?
Pleasant Street Housing Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Pleasant Street Housing Inc tax-deductible?
Pleasant Street Housing Inc is registered as a tax-exempt nonprofit (EIN: 10406611). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Pleasant Street Housing Inc CEO make?
Pleasant Street Housing Inc's highest-compensated officer earns $157,019 annually. The organization reported $284K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Pleasant Street Housing Inc's spending goes to programs?
Pleasant Street Housing Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Pleasant Street Housing Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Pleasant Street Housing Inc is above average for NTEE category L21Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Pleasant Street Housing Inc located?
Pleasant Street Housing Inc is headquartered in Portland, Maine and files with the IRS under EIN 10406611. It is classified under NTEE code L21Z.
How many years of IRS 990 filings does Pleasant Street Housing Inc have?
Pleasant Street Housing Inc 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 $284K in total revenue.
Is Pleasant Street Housing Inc. financially sustainable?
The organization's financial sustainability is questionable given that expenses frequently exceed revenue (e.g., $394,842 expenses vs. $358,664 revenue in 2023) and liabilities consistently outweigh assets (e.g., $1,011,952 liabilities vs. $616,814 assets in 2023). This trend suggests potential long-term financial challenges.
How has the organization's asset base changed over time?
Pleasant Street Housing Inc.'s assets have shown a consistent decline over the past decade, from $865,276 in 2014 to $616,814 in 2023, which could indicate asset depreciation or divestment without sufficient reinvestment.
What is the trend in the organization's liabilities?
Liabilities have remained consistently high, generally exceeding $1 million, and have consistently been greater than the organization's total assets, indicating a significant debt burden relative to its holdings.
Does the organization spend efficiently on its programs?
While specific program spending ratios are not detailed, the 0% officer compensation suggests a strong commitment to directing funds towards its mission. However, the overall deficit trend implies that even with low administrative costs, total expenses are not fully covered by revenue.
Filing History
IRS 990 filing history for Pleasant Street Housing Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Pleasant Street Housing Inc's revenue has grown by 80.3%, moving from $199K to $359K. Total assets decreased by 34.8% over the same period, from $946K to $617K. Total functional expenses rose by 91.2%, from $206K to $395K. In its most recent filing year (2023), Pleasant Street Housing Inc reported a deficit of $36K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $617K in assets (debt-to-asset ratio: 164.1%), resulting in net assets of $-395,138.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $359K | $395K | $617K | $1.0M | — | — |
| 2022 | $255K | $290K | $664K | $1.0M | — | View 990 |
| 2021 | $255K | $245K | $726K | $1.1M | — | View 990 |
| 2020 | $251K | $225K | $732K | $1.0M | — | View 990 |
| 2019 | $243K | $263K | $726K | $1.0M | — | — |
| 2018 | $240K | $250K | $744K | $1.0M | — | View 990 |
| 2017 | $238K | $238K | $771K | $1.0M | — | View 990 |
| 2016 | $235K | $228K | $795K | $1.1M | — | View 990 |
| 2015 | $157K | $208K | $799K | $1.1M | — | View 990 |
| 2014 | $230K | $205K | $865K | $1.1M | — | View 990 |
| 2013 | $152K | $202K | $857K | $1.1M | — | View 990 |
| 2012 | $219K | $211K | $918K | $1.1M | — | View 990 |
| 2011 | $199K | $206K | $946K | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $359K, expenses of $395K, and assets of $617K (revenue +40.6% year-over-year).
- 2022: Revenue of $255K, expenses of $290K, and assets of $664K (revenue +-0.0% year-over-year).
- 2021: Revenue of $255K, expenses of $245K, and assets of $726K (revenue +1.8% year-over-year).
- 2020: Revenue of $251K, expenses of $225K, and assets of $732K (revenue +3.2% year-over-year).
- 2019: Revenue of $243K, expenses of $263K, and assets of $726K (revenue +1.4% year-over-year).
- 2018: Revenue of $240K, expenses of $250K, and assets of $744K (revenue +0.5% year-over-year).
- 2017: Revenue of $238K, expenses of $238K, and assets of $771K (revenue +1.3% year-over-year).
- 2016: Revenue of $235K, expenses of $228K, and assets of $795K (revenue +49.9% year-over-year).
- 2015: Revenue of $157K, expenses of $208K, and assets of $799K (revenue -31.7% year-over-year).
- 2014: Revenue of $230K, expenses of $205K, and assets of $865K (revenue +51.1% year-over-year).
- 2013: Revenue of $152K, expenses of $202K, and assets of $857K (revenue -30.7% year-over-year).
- 2012: Revenue of $219K, expenses of $211K, and assets of $918K (revenue +10.3% year-over-year).
- 2011: Revenue of $199K, expenses of $206K, and assets of $946K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Pleasant Street Housing Inc:
Data Sources and Methodology
This transparency report for Pleasant Street Housing Inc 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.