Silver Lake Housing Corp
EIN: 237356023 · Bangor, ME
| Metric | Value |
|---|---|
| Total Revenue | $277K |
| Total Expenses | $272K |
| Net Assets | $11K |
Is Silver Lake Housing Corp Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Silver Lake Housing Corp
Silver Lake Housing Corp (EIN: 237356023) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $277K and total assets of $619K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Silver Lake Housing Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Silver Lake Housing Corp is a small nonprofit that has been operating for 49 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $277K |
| Total Expenses | $272K |
| Surplus / Deficit | +$5K |
| Total Assets | $640K |
| Total Liabilities | $629K |
| Net Assets | $11K |
| Operating Margin | 1.9% |
| Debt-to-Asset Ratio | 98.3% |
| Months of Reserves | 28.2 months |
Financial Health Grade: A
In 2023, Silver Lake Housing Corp reported a surplus of $5K with revenue exceeding expenses, holds 28.2 months of operating reserves (strong position), has a debt-to-asset ratio of 98.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Silver Lake Housing Corp's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.2% | -0.7% | -3.8% |
| 2022 | +8.4% | +7.0% | -4.6% |
| 2021 | -1.8% | +6.9% | -5.6% |
| 2020 | -0.6% | -11.9% | -1.9% |
| 2019 | -2.1% | +1.5% | -6.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1977 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Silver Lake Housing Corp has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Silver Lake Housing Corp with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5K, with revenue exceeding expenses.
- Debt-to-asset ratio: 98.3%.
Frequently Asked Questions about Silver Lake Housing Corp
Is Silver Lake Housing Corp a legitimate charity?
Silver Lake Housing Corp (EIN: 237356023) is a registered tax-exempt nonprofit based in Maine. It has 13 years of IRS 990 filings on record. Total revenue: $277K. No red flags identified. Financial health grade: A.
How does Silver Lake Housing Corp spend its money?
Silver Lake Housing Corp reported $277K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Silver Lake Housing Corp tax-deductible?
Silver Lake Housing Corp is registered as a tax-exempt nonprofit (EIN: 237356023). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Silver Lake Housing Corp located?
Silver Lake Housing Corp is headquartered in Bangor, Maine and files with the IRS under EIN 237356023.
How many years of IRS 990 filings does Silver Lake Housing Corp have?
Silver Lake 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 $277K in total revenue.
Filing History
IRS 990 filing history for Silver Lake Housing Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Silver Lake Housing Corp's revenue has grown by 18.1%, moving from $235K to $277K. Total assets decreased by 36.6% over the same period, from $1.0M to $640K. Total functional expenses rose by 25.1%, from $218K to $272K. In its most recent filing year (2023), Silver Lake Housing Corp reported a surplus of $5K, with revenue exceeding expenses. The organization holds $629K in liabilities against $640K in assets (debt-to-asset ratio: 98.3%), resulting in net assets of $11K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $277K | $272K | $640K | $629K | — | — |
| 2022 | $254K | $274K | $665K | $659K | — | View 990 |
| 2021 | $234K | $256K | $697K | $671K | — | View 990 |
| 2020 | $239K | $240K | $738K | $690K | — | — |
| 2019 | $240K | $272K | $752K | $703K | — | — |
| 2018 | $245K | $268K | $804K | $723K | — | View 990 |
| 2017 | $225K | $252K | $827K | $734K | — | View 990 |
| 2016 | $227K | $230K | $861K | $731K | — | View 990 |
| 2015 | $221K | $241K | $881K | $723K | — | View 990 |
| 2014 | $222K | $252K | $929K | $750K | — | View 990 |
| 2013 | $235K | $239K | $982K | $773K | — | View 990 |
| 2012 | $237K | $238K | $1.0M | $781K | — | View 990 |
| 2011 | $235K | $218K | $1.0M | $790K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $277K, expenses of $272K, and assets of $640K (revenue +9.2% year-over-year).
- 2022: Revenue of $254K, expenses of $274K, and assets of $665K (revenue +8.4% year-over-year).
- 2021: Revenue of $234K, expenses of $256K, and assets of $697K (revenue -1.8% year-over-year).
- 2020: Revenue of $239K, expenses of $240K, and assets of $738K (revenue -0.6% year-over-year).
- 2019: Revenue of $240K, expenses of $272K, and assets of $752K (revenue -2.1% year-over-year).
- 2018: Revenue of $245K, expenses of $268K, and assets of $804K (revenue +9.0% year-over-year).
- 2017: Revenue of $225K, expenses of $252K, and assets of $827K (revenue -1.1% year-over-year).
- 2016: Revenue of $227K, expenses of $230K, and assets of $861K (revenue +2.7% year-over-year).
- 2015: Revenue of $221K, expenses of $241K, and assets of $881K (revenue -0.1% year-over-year).
- 2014: Revenue of $222K, expenses of $252K, and assets of $929K (revenue -5.8% year-over-year).
- 2013: Revenue of $235K, expenses of $239K, and assets of $982K (revenue -0.8% year-over-year).
- 2012: Revenue of $237K, expenses of $238K, and assets of $1.0M (revenue +1.0% year-over-year).
- 2011: Revenue of $235K, expenses of $218K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Silver Lake Housing Corp:
Data Sources and Methodology
This transparency report for Silver Lake 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.