South Windham Housing Corporation
South Windham Housing Corporation consistently operates at a deficit, drawing down assets over the past decade.
EIN: 202010603 · Portland, ME · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $303K |
| Total Expenses | $358K |
| Program Spending | 90% |
| Net Assets | $2.1M |
| Transparency Score | 75/100 |
Is South Windham Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
South Windham Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About South Windham Housing Corporation
South Windham Housing Corporation (EIN: 202010603) is a nonprofit organization based in Portland, ME, classified under NTEE code L20. The organization reported total revenue of $303K and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of South Windham Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
South Windham Housing Corporation is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $292K |
| Total Expenses | $358K |
| Surplus / Deficit | $-66,392 |
| Total Assets | $2.3M |
| Total Liabilities | $251K |
| Net Assets | $2.1M |
| Operating Margin | -22.8% |
| Debt-to-Asset Ratio | 10.7% |
| Months of Reserves | 78.8 months |
Financial Health Grade: B
In 2023, South Windham Housing Corporation reported a deficit of $66K with expenses exceeding revenue, holds 78.8 months of operating reserves (strong position), has a debt-to-asset ratio of 10.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), South Windham Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +21.4% | +8.0% | -2.8% |
| 2022 | -53.6% | +6.1% | -3.1% |
| 2021 | +143.9% | +15.0% | -3.0% |
| 2020 | +5.8% | -2.0% | -2.1% |
| 2019 | -1.4% | -3.2% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 South Windham Housing Corporation with a Mission Score of 75 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, South Windham Housing Corporation 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 $66K, with expenses exceeding revenue.
- Debt-to-asset ratio: 10.7%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating a volunteer-led board or management, which significantly reduces administrative overhead and directs more funds towards its 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 South Windham Housing Corporation's IRS 990 filings:
- Consistent operational deficits (e.g., $66,392 deficit in 2023, $91,286 deficit in 2022)
- Gradual but steady decline in total assets over the past decade (from $3,074,378 in 2014 to $2,349,989 in 2023)
Strengths
The following positive indicators were identified for South Windham Housing Corporation:
- Zero reported officer compensation, indicating efficient use of funds for mission-related activities
- Strong program focus, as implied by the lack of fundraising expenses and officer compensation
- Consistent filing history (13 filings), demonstrating transparency and compliance
- Substantial asset base ($2,349,989 in 2023) providing a buffer despite operational deficits
Frequently Asked Questions about South Windham Housing Corporation
Is South Windham Housing Corporation a legitimate charity?
South Windham Housing Corporation (EIN: 202010603) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $303K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does South Windham Housing Corporation spend its money?
South Windham Housing Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to South Windham Housing Corporation tax-deductible?
South Windham Housing Corporation is registered as a tax-exempt nonprofit (EIN: 202010603). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does South Windham Housing Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), South Windham Housing Corporation is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is South Windham Housing Corporation located?
South Windham Housing Corporation is headquartered in Portland, Maine and files with the IRS under EIN 202010603. It is classified under NTEE code L20.
How many years of IRS 990 filings does South Windham Housing Corporation have?
South Windham Housing 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 $303K in total revenue.
Is South Windham Housing Corporation financially sustainable given its recurring deficits?
The organization has consistently reported expenses exceeding revenue in most recent years (e.g., $357,992 expenses vs. $291,600 revenue in 2023), leading to operational deficits. While it has a substantial asset base of $2,349,989, this has been declining over the past decade, raising concerns about long-term financial sustainability if this trend continues without new revenue streams or cost reductions.
What is the primary source of South Windham Housing Corporation's revenue?
The provided data only shows 'Revenue' without specific breakdown. Given its NTEE code L20 (Housing), it's likely a mix of rental income, grants, or other housing-related program fees, but further detail would require examining the full 990 forms.
How does the lack of officer compensation impact the organization?
The absence of officer compensation (0% reported) indicates that the organization is likely managed by volunteers or has a very lean, unpaid leadership structure. This is a significant strength as it minimizes administrative costs and ensures a higher percentage of funds can be directed towards its housing programs.
Filing History
IRS 990 filing history for South Windham Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), South Windham Housing Corporation's revenue has grown by 60.1%, moving from $182K to $292K. Total assets decreased by 27.5% over the same period, from $3.2M to $2.3M. Total functional expenses rose by 48.6%, from $241K to $358K. In its most recent filing year (2023), South Windham Housing Corporation reported a deficit of $66K, with expenses exceeding revenue. The organization holds $251K in liabilities against $2.3M in assets (debt-to-asset ratio: 10.7%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $292K | $358K | $2.3M | $251K | — | — |
| 2022 | $240K | $332K | $2.4M | $253K | — | View 990 |
| 2021 | $518K | $313K | $2.5M | $240K | — | View 990 |
| 2020 | $212K | $272K | $2.6M | $523K | — | View 990 |
| 2019 | $201K | $277K | $2.6M | $520K | — | View 990 |
| 2018 | $204K | $287K | $2.7M | $518K | — | View 990 |
| 2017 | $204K | $263K | $2.9M | $627K | — | — |
| 2016 | $196K | $256K | $2.9M | $520K | — | View 990 |
| 2015 | $186K | $253K | $3.0M | $530K | — | View 990 |
| 2014 | $183K | $246K | $3.1M | $519K | — | View 990 |
| 2013 | $185K | $240K | $3.1M | $517K | — | View 990 |
| 2012 | $184K | $234K | $3.2M | $516K | — | View 990 |
| 2011 | $182K | $241K | $3.2M | $517K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $292K, expenses of $358K, and assets of $2.3M (revenue +21.4% year-over-year).
- 2022: Revenue of $240K, expenses of $332K, and assets of $2.4M (revenue -53.6% year-over-year).
- 2021: Revenue of $518K, expenses of $313K, and assets of $2.5M (revenue +143.9% year-over-year).
- 2020: Revenue of $212K, expenses of $272K, and assets of $2.6M (revenue +5.8% year-over-year).
- 2019: Revenue of $201K, expenses of $277K, and assets of $2.6M (revenue -1.4% year-over-year).
- 2018: Revenue of $204K, expenses of $287K, and assets of $2.7M (revenue -0.3% year-over-year).
- 2017: Revenue of $204K, expenses of $263K, and assets of $2.9M (revenue +3.9% year-over-year).
- 2016: Revenue of $196K, expenses of $256K, and assets of $2.9M (revenue +5.4% year-over-year).
- 2015: Revenue of $186K, expenses of $253K, and assets of $3.0M (revenue +1.8% year-over-year).
- 2014: Revenue of $183K, expenses of $246K, and assets of $3.1M (revenue -1.0% year-over-year).
- 2013: Revenue of $185K, expenses of $240K, and assets of $3.1M (revenue +0.6% year-over-year).
- 2012: Revenue of $184K, expenses of $234K, and assets of $3.2M (revenue +0.8% year-over-year).
- 2011: Revenue of $182K, expenses of $241K, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for South Windham Housing Corporation:
Data Sources and Methodology
This transparency report for South Windham Housing 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.