Portland Housing Development Corporation
Portland Housing Development Corporation: Strong Growth, High Program Spending, but Transparency Lacking
EIN: 222527595 · Portland, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $5.6M |
| Total Expenses | $1.1M |
| Program Spending | 90% |
| Net Assets | $14.9M |
| Transparency Score | 85/100 |
Is Portland Housing Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Portland Housing Development Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Portland Housing Development Corporation
Portland Housing Development Corporation (EIN: 222527595) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $5.6M and total assets of $24.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Portland Housing Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Portland Housing Development Corporation is a mid-size nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 60.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.4M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$6.3M |
| Total Assets | $19.8M |
| Total Liabilities | $4.9M |
| Net Assets | $14.9M |
| Operating Margin | 85.1% |
| Debt-to-Asset Ratio | 24.9% |
| Months of Reserves | 215.3 months |
Financial Health Grade: A
In 2023, Portland Housing Development Corporation reported a surplus of $6.3M with revenue exceeding expenses, holds 215.3 months of operating reserves (strong position), has a debt-to-asset ratio of 24.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Portland Housing Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 60.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +41.5% | -3.0% | +68.2% |
| 2022 | +89.7% | -47.9% | +120.9% |
| 2021 | +66.1% | +361.0% | +8.8% |
| 2020 | +120.6% | -5.2% | +31.6% |
| 2019 | +128.0% | +91.1% | +31.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Portland Housing Development Corporation with a Mission Score of 85 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Portland Housing Development 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 surplus of $6.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 24.9%.
Executive Compensation Analysis
Executive compensation details are not readily available in the provided data, making a comprehensive assessment impossible without further filings.
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 Portland Housing Development Corporation's IRS 990 filings:
- Lack of detailed executive compensation information in provided data.
- Limited transparency on specific program outcomes and beneficiary impact on their public platforms.
Strengths
The following positive indicators were identified for Portland Housing Development Corporation:
- Consistent revenue growth from $201,669 in 2017 to $7,402,789 in 2023, demonstrating strong fundraising and operational expansion.
- Significant asset growth from $2,771,537 in 2017 to $19,803,061 in 2023, indicating robust financial health and capacity.
- High percentage of expenses dedicated to programs (90%), suggesting efficient use of funds towards its mission.
- Low administrative and fundraising costs (5% each), indicating operational efficiency.
Frequently Asked Questions about Portland Housing Development Corporation
Is Portland Housing Development Corporation a legitimate charity?
Portland Housing Development Corporation (EIN: 222527595) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.6M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Portland Housing Development Corporation spend its money?
Portland Housing Development Corporation directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Portland Housing Development Corporation tax-deductible?
Portland Housing Development Corporation is registered as a tax-exempt nonprofit (EIN: 222527595). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Portland Housing Development Corporation's spending goes to programs?
Portland Housing Development Corporation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Portland Housing Development Corporation located?
Portland Housing Development Corporation is headquartered in Portland, Maine and files with the IRS under EIN 222527595.
How many years of IRS 990 filings does Portland Housing Development Corporation have?
Portland Housing Development 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 $5.6M in total revenue.
What does Portland Housing Development Corporation do?
Portland Housing Development Corporation is a nonprofit organization in the Unknown sector, located in Portland, Maine. It is classified under NTEE code Unknown.
How much revenue does Portland Housing Development Corporation have?
Portland Housing Development Corporation reported total revenue of $5,566,931. Based on 13 IRS 990 filings on record.
What are Portland Housing Development Corporation's total assets?
Portland Housing Development Corporation holds total assets of $24,238,614 as reported in IRS 990 filings.
Where is Portland Housing Development Corporation located?
Portland Housing Development Corporation is based in Portland, Maine.
What is Portland Housing Development Corporation's EIN?
Portland Housing Development Corporation's Employer Identification Number (EIN) is 222527595. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Portland Housing Development Corporation?
Portland Housing Development Corporation is classified under NTEE code Unknown (Unknown).
Is Portland Housing Development Corporation a registered 501(c)(3)?
Portland Housing Development Corporation appears in IRS records (EIN: 222527595). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Portland Housing Development Corporation file IRS Form 990?
Yes, Portland Housing Development Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Portland Housing Development Corporation's revenue in 2023?
In the 202306 filing period, Portland Housing Development Corporation reported total revenue of $7,402,789, total expenses of $1,103,868, and net assets of $19,803,061.
Is Portland Housing Development Corporation's revenue growing or declining?
Portland Housing Development Corporation's revenue is growing. Revenue went from $5,230,784 (202206) to $7,402,789 (202306), a +41.5% change. Based on 13 filings on record.
What is Portland Housing Development Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Portland Housing Development Corporation covers tax period 202306. It shows revenue of $7,402,789, expenses of $1,103,868, total assets of $19,803,061, and liabilities of $4,926,852.
How much does Portland Housing Development Corporation spend on programs vs administration?
Based on IRS 990 analysis, Portland Housing Development Corporation allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Portland Housing Development Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Portland Housing Development Corporation appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 4 strengths noted.
What are the red flags for Portland Housing Development Corporation?
The following concerns were identified: Lack of detailed executive compensation information in provided data.. Limited transparency on specific program outcomes and beneficiary impact on their public platforms.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Portland Housing Development Corporation's strengths?
Positive indicators for Portland Housing Development Corporation include: Consistent revenue growth from $201,669 in 2017 to $7,402,789 in 2023, demonstrating strong fundraising and operational expansion.. Significant asset growth from $2,771,537 in 2017 to $19,803,061 in 2023, indicating robust financial health and capacity.. High percentage of expenses dedicated to programs (90%), suggesting efficient use of funds towards its mission.. Low administrative and fundraising costs (5% each), indicating operational efficiency.. These findings are derived from AI analysis of the organization's financial filings.
How does Portland Housing Development Corporation compensate executives?
Executive compensation details are not readily available in the provided data, making a comprehensive assessment impossible without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial increase in assets and revenue, what specific strategies has Portland Housing Development Corporation employed to scale its operations so effectively?
The provided data shows a dramatic increase in assets from $2.77M in 2017 to $19.80M in 2023, alongside revenue growth from $201K to $7.40M. This suggests successful capital campaigns, potentially through grants, government funding, or strategic partnerships, enabling significant expansion of housing development projects.
How does the organization ensure that its rapid growth in assets and revenue directly translates into increased housing units or services for the Portland community?
While the financial data indicates strong growth, the absence of detailed program impact metrics on their public platforms makes it difficult to directly correlate financial expansion with specific increases in housing units or services. Further investigation into their annual reports or program evaluations would be necessary.
Filing History
IRS 990 filing history for Portland Housing Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Portland Housing Development Corporation's revenue has grown by 30084.7%, moving from $25K to $7.4M. Total assets increased by 731.6% over the same period, from $2.4M to $19.8M. Total functional expenses rose by 7425.7%, from $15K to $1.1M. In its most recent filing year (2023), Portland Housing Development Corporation reported a surplus of $6.3M, with revenue exceeding expenses. The organization holds $4.9M in liabilities against $19.8M in assets (debt-to-asset ratio: 24.9%), resulting in net assets of $14.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.4M | $1.1M | $19.8M | $4.9M | — | View 990 |
| 2022 | $5.2M | $1.1M | $11.8M | $3.2M | — | View 990 |
| 2021 | $2.8M | $2.2M | $5.3M | $820K | — | View 990 |
| 2020 | $1.7M | $474K | $4.9M | $960K | — | — |
| 2019 | $753K | $500K | $3.7M | $971K | — | View 990 |
| 2018 | $330K | $261K | $2.8M | $327K | — | View 990 |
| 2017 | $202K | $265K | $2.8M | $344K | — | View 990 |
| 2016 | $939K | $574K | $2.9M | $360K | — | View 990 |
| 2015 | $98K | $181K | $2.5M | $377K | — | View 990 |
| 2014 | $137K | $241K | $2.6M | $389K | — | View 990 |
| 2013 | $95K | $152K | $2.7M | $409K | — | View 990 |
| 2012 | $7K | $17K | $2.4M | $0 | — | View 990 |
| 2011 | $25K | $15K | $2.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.4M, expenses of $1.1M, and assets of $19.8M (revenue +41.5% year-over-year).
- 2022: Revenue of $5.2M, expenses of $1.1M, and assets of $11.8M (revenue +89.7% year-over-year).
- 2021: Revenue of $2.8M, expenses of $2.2M, and assets of $5.3M (revenue +66.1% year-over-year).
- 2020: Revenue of $1.7M, expenses of $474K, and assets of $4.9M (revenue +120.6% year-over-year).
- 2019: Revenue of $753K, expenses of $500K, and assets of $3.7M (revenue +128.0% year-over-year).
- 2018: Revenue of $330K, expenses of $261K, and assets of $2.8M (revenue +63.6% year-over-year).
- 2017: Revenue of $202K, expenses of $265K, and assets of $2.8M (revenue -78.5% year-over-year).
- 2016: Revenue of $939K, expenses of $574K, and assets of $2.9M (revenue +859.2% year-over-year).
- 2015: Revenue of $98K, expenses of $181K, and assets of $2.5M (revenue -28.6% year-over-year).
- 2014: Revenue of $137K, expenses of $241K, and assets of $2.6M (revenue +44.9% year-over-year).
- 2013: Revenue of $95K, expenses of $152K, and assets of $2.7M (revenue +1248.4% year-over-year).
- 2012: Revenue of $7K, expenses of $17K, and assets of $2.4M (revenue -71.4% year-over-year).
- 2011: Revenue of $25K, expenses of $15K, and assets of $2.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Portland Housing Development Corporation:
Data Sources and Methodology
This transparency report for Portland Housing Development 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.