Rangeley Housing Development Corporation
Rangeley Housing Development Corporation maintains operational stability but faces long-term asset decline and high liabilities.
EIN: 10369255 · Augusta, ME · NTEE: L21Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $406K |
| Total Expenses | $407K |
| Program Spending | 80% |
| Net Assets | $-593,600 |
| Transparency Score | 70/100 |
Is Rangeley 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 →
Rangeley Housing Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rangeley Housing Development Corporation
Rangeley Housing Development Corporation (EIN: 10369255) is a nonprofit organization based in Augusta, ME, classified under NTEE code L21Z. The organization reported total revenue of $406K and total assets of $556K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rangeley Housing Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rangeley Housing Development Corporation is a small nonprofit that has been operating for 46 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $415K |
| Total Expenses | $407K |
| Surplus / Deficit | +$7K |
| Total Assets | $611K |
| Total Liabilities | $1.2M |
| Net Assets | $-593,600 |
| Operating Margin | 1.8% |
| Debt-to-Asset Ratio | 197.2% |
| Months of Reserves | 18.0 months |
Financial Health Grade: A
In 2023, Rangeley Housing Development Corporation reported a surplus of $7K with revenue exceeding expenses, holds 18.0 months of operating reserves (strong position), has a debt-to-asset ratio of 197.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Rangeley Housing Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.6% | -1.5% | -3.2% |
| 2022 | +7.6% | +13.4% | -7.2% |
| 2021 | +5.0% | -10.7% | -9.4% |
| 2020 | -4.1% | +3.3% | -5.6% |
| 2019 | -6.0% | +5.7% | -9.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1980 |
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 Rangeley Housing Development Corporation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Rangeley Housing Development Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. 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 surplus of $7K, with revenue exceeding expenses.
- Debt-to-asset ratio: 197.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation from the organization. This is a strong positive for minimizing administrative costs and maximizing resources for the 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 Rangeley Housing Development Corporation's IRS 990 filings:
- Consistent decline in total assets over the past decade (from $1,014,737 in 201403 to $610,877 in 202303).
- Liabilities consistently exceed total assets, indicating a potentially high debt burden or reliance on external financing (e.g., $1,204,477 liabilities vs. $610,877 assets in 202303).
Strengths
The following positive indicators were identified for Rangeley Housing Development Corporation:
- Consistent operational revenue generation that generally covers annual expenses (e.g., $414,751 revenue vs. $407,275 expenses in 202303).
- Zero officer compensation reported across all filings, indicating efficient use of funds in this area.
- Consistent filing of IRS Form 990s over 12 periods, demonstrating good financial transparency.
Frequently Asked Questions about Rangeley Housing Development Corporation
Is Rangeley Housing Development Corporation a legitimate charity?
Rangeley Housing Development Corporation (EIN: 10369255) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 70/100. It has 12 years of IRS 990 filings on record. Total revenue: $406K. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Rangeley Housing Development Corporation spend its money?
Rangeley Housing Development Corporation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Rangeley Housing Development Corporation tax-deductible?
Rangeley Housing Development Corporation is registered as a tax-exempt nonprofit (EIN: 10369255). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rangeley Housing Development Corporation's spending goes to programs?
Rangeley Housing Development Corporation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Rangeley Housing Development Corporation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Rangeley Housing Development Corporation 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 Rangeley Housing Development Corporation located?
Rangeley Housing Development Corporation is headquartered in Augusta, Maine and files with the IRS under EIN 10369255. It is classified under NTEE code L21Z.
How many years of IRS 990 filings does Rangeley Housing Development Corporation have?
Rangeley Housing Development Corporation has 12 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 $406K in total revenue.
Is Rangeley Housing Development Corporation financially sustainable long-term given declining assets and high liabilities?
While the organization consistently covers its annual expenses with revenues (e.g., $414,751 revenue vs. $407,275 expenses in 202303), the trend of declining assets (from $1,014,737 in 201403 to $610,877 in 202303) coupled with liabilities often exceeding assets (e.g., $1,204,477 liabilities in 202303) suggests potential long-term sustainability challenges that warrant further investigation into the nature of these liabilities and asset depreciation.
What is the nature of the high liabilities consistently reported?
The filings consistently show liabilities significantly higher than assets (e.g., $1,204,477 liabilities vs. $610,877 assets in 202303). Understanding if these are long-term mortgages on housing properties, program-related debt, or other obligations is crucial for a complete financial picture. This information is not detailed in the provided summary.
How does the organization manage its assets given the consistent decline?
Assets have decreased by approximately 40% over the past decade ($1,014,737 in 201403 to $610,877 in 202303). This trend could be due to depreciation of housing properties, sale of assets, or other factors. A deeper dive into the asset management strategy would be beneficial.
Filing History
IRS 990 filing history for Rangeley Housing Development Corporation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Rangeley Housing Development Corporation's revenue has grown by 20.9%, moving from $343K to $415K. Total assets decreased by 42.9% over the same period, from $1.1M to $611K. Total functional expenses rose by 12.4%, from $362K to $407K. In its most recent filing year (2023), Rangeley Housing Development Corporation reported a surplus of $7K, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $611K in assets (debt-to-asset ratio: 197.2%), resulting in net assets of $-593,600.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $415K | $407K | $611K | $1.2M | — | View 990 |
| 2022 | $378K | $414K | $631K | $1.2M | — | View 990 |
| 2021 | $352K | $365K | $680K | $1.2M | — | View 990 |
| 2020 | $335K | $408K | $751K | $1.3M | — | View 990 |
| 2019 | $349K | $395K | $796K | $1.3M | — | View 990 |
| 2018 | $372K | $374K | $878K | $1.3M | — | View 990 |
| 2017 | $357K | $395K | $877K | $1.3M | — | View 990 |
| 2016 | $377K | $362K | $964K | $1.4M | — | View 990 |
| 2015 | $336K | $369K | $967K | $1.4M | — | View 990 |
| 2014 | $394K | $387K | $1.0M | $1.4M | — | View 990 |
| 2013 | $361K | $401K | $1.0M | $1.4M | — | View 990 |
| 2012 | $343K | $362K | $1.1M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $415K, expenses of $407K, and assets of $611K (revenue +9.6% year-over-year).
- 2022: Revenue of $378K, expenses of $414K, and assets of $631K (revenue +7.6% year-over-year).
- 2021: Revenue of $352K, expenses of $365K, and assets of $680K (revenue +5.0% year-over-year).
- 2020: Revenue of $335K, expenses of $408K, and assets of $751K (revenue -4.1% year-over-year).
- 2019: Revenue of $349K, expenses of $395K, and assets of $796K (revenue -6.0% year-over-year).
- 2018: Revenue of $372K, expenses of $374K, and assets of $878K (revenue +4.1% year-over-year).
- 2017: Revenue of $357K, expenses of $395K, and assets of $877K (revenue -5.4% year-over-year).
- 2016: Revenue of $377K, expenses of $362K, and assets of $964K (revenue +12.2% year-over-year).
- 2015: Revenue of $336K, expenses of $369K, and assets of $967K (revenue -14.5% year-over-year).
- 2014: Revenue of $394K, expenses of $387K, and assets of $1.0M (revenue +9.1% year-over-year).
- 2013: Revenue of $361K, expenses of $401K, and assets of $1.0M (revenue +5.2% year-over-year).
- 2012: Revenue of $343K, expenses of $362K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rangeley Housing Development Corporation:
Data Sources and Methodology
This transparency report for Rangeley 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.