St Albans Housing Corporation
St Albans Housing Corporation maintains consistent revenue but carries significant liabilities exceeding assets.
EIN: 10345239 · Bangor, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $147K |
| Total Expenses | $171K |
| Program Spending | 90% |
| Net Assets | $-206,559 |
| Transparency Score | 75/100 |
Is St Albans Housing Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
St Albans Housing Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About St Albans Housing Corporation
St Albans Housing Corporation (EIN: 10345239) is a nonprofit organization based in Bangor, ME. The organization reported total revenue of $147K and total assets of $881K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Albans Housing Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
St Albans Housing Corporation is a small nonprofit that has been operating for 50 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $150K |
| Total Expenses | $171K |
| Surplus / Deficit | $-21,897 |
| Total Assets | $903K |
| Total Liabilities | $1.1M |
| Net Assets | $-206,559 |
| Operating Margin | -14.6% |
| Debt-to-Asset Ratio | 122.9% |
| Months of Reserves | 63.2 months |
Financial Health Grade: C
In 2023, St Albans Housing Corporation reported a deficit of $22K with expenses exceeding revenue, holds 63.2 months of operating reserves (strong position), has a debt-to-asset ratio of 122.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), St Albans Housing Corporation's revenue has grown at a compound annual growth rate (CAGR) of 0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.0% | +5.5% | -1.1% |
| 2022 | +11.1% | +11.5% | -1.2% |
| 2021 | -6.0% | +11.1% | -2.1% |
| 2020 | -8.5% | -17.2% | +282.3% |
| 2019 | -5.0% | +0.2% | -5.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1976 |
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 St Albans 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, St Albans 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 $22K, with expenses exceeding revenue.
- Debt-to-asset ratio: 122.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly favorable for a nonprofit of its size.
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 St Albans Housing Corporation's IRS 990 filings:
- Liabilities consistently exceed assets in recent years (e.g., 2023: Assets=$903,400, Liabilities=$1,109,959), indicating a highly leveraged financial position.
- Significant and unexplained jump in liabilities and assets between 2019 and 2020, from $397,727 to $1,088,139 for liabilities and $246,870 to $943,740 for assets, without clear context in the provided data.
Strengths
The following positive indicators were identified for St Albans Housing Corporation:
- Consistent revenue generation over the past decade, averaging around $140,000-$150,000 annually.
- 0% officer compensation reported across all filings, indicating highly efficient use of funds for its mission.
- Stable expense levels, generally in line with or slightly above revenue, suggesting consistent operational activity.
Frequently Asked Questions about St Albans Housing Corporation
Is St Albans Housing Corporation a legitimate charity?
St Albans Housing Corporation (EIN: 10345239) 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: $147K. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does St Albans Housing Corporation spend its money?
St Albans Housing Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to St Albans Housing Corporation tax-deductible?
St Albans Housing Corporation is registered as a tax-exempt nonprofit (EIN: 10345239). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is St Albans Housing Corporation located?
St Albans Housing Corporation is headquartered in Bangor, Maine and files with the IRS under EIN 10345239.
How many years of IRS 990 filings does St Albans Housing Corporation have?
St Albans 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 $147K in total revenue.
Why did St Albans Housing Corporation's liabilities increase so dramatically between 2019 and 2020?
Between 2019 and 2020, liabilities surged from $397,727 to $1,088,139. This significant increase, alongside a corresponding rise in assets, suggests a major financial event, possibly related to property acquisition or refinancing, which would require reviewing the full 990 forms for specific details.
Is the organization's financial structure sustainable given that liabilities exceed assets?
In recent years (2020-2023), liabilities have consistently exceeded assets (e.g., 2023: Assets=$903,400, Liabilities=$1,109,959). While not uncommon for housing corporations with significant property holdings and associated mortgages, it indicates a leveraged financial position that requires careful monitoring and understanding of the nature of these liabilities.
How does St Albans Housing Corporation fund its operations without officer compensation?
The consistent reporting of 0% officer compensation suggests that executive functions may be performed by volunteers, board members, or through contracted services that are not classified as officer compensation, allowing more funds to be directed towards program services.
Filing History
IRS 990 filing history for St Albans Housing Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), St Albans Housing Corporation's revenue has grown by 1.3%, moving from $148K to $150K. Total assets increased by 232.5% over the same period, from $272K to $903K. Total functional expenses rose by 23.1%, from $139K to $171K. In its most recent filing year (2023), St Albans Housing Corporation reported a deficit of $22K, with expenses exceeding revenue. The organization holds $1.1M in liabilities against $903K in assets (debt-to-asset ratio: 122.9%), resulting in net assets of $-206,559.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $150K | $171K | $903K | $1.1M | — | — |
| 2022 | $141K | $163K | $913K | $1.1M | — | View 990 |
| 2021 | $127K | $146K | $924K | $1.1M | — | View 990 |
| 2020 | $135K | $131K | $944K | $1.1M | — | View 990 |
| 2019 | $148K | $159K | $247K | $398K | — | View 990 |
| 2018 | $155K | $158K | $261K | $401K | — | View 990 |
| 2017 | $148K | $130K | $271K | $408K | — | View 990 |
| 2016 | $153K | $132K | $266K | $421K | — | View 990 |
| 2015 | $142K | $140K | $259K | $436K | — | View 990 |
| 2014 | $146K | $137K | $269K | $448K | — | View 990 |
| 2013 | $146K | $135K | $273K | $461K | — | View 990 |
| 2012 | $144K | $137K | $270K | $469K | — | View 990 |
| 2011 | $148K | $139K | $272K | $478K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $150K, expenses of $171K, and assets of $903K (revenue +6.0% year-over-year).
- 2022: Revenue of $141K, expenses of $163K, and assets of $913K (revenue +11.1% year-over-year).
- 2021: Revenue of $127K, expenses of $146K, and assets of $924K (revenue -6.0% year-over-year).
- 2020: Revenue of $135K, expenses of $131K, and assets of $944K (revenue -8.5% year-over-year).
- 2019: Revenue of $148K, expenses of $159K, and assets of $247K (revenue -5.0% year-over-year).
- 2018: Revenue of $155K, expenses of $158K, and assets of $261K (revenue +5.0% year-over-year).
- 2017: Revenue of $148K, expenses of $130K, and assets of $271K (revenue -3.5% year-over-year).
- 2016: Revenue of $153K, expenses of $132K, and assets of $266K (revenue +8.0% year-over-year).
- 2015: Revenue of $142K, expenses of $140K, and assets of $259K (revenue -2.7% year-over-year).
- 2014: Revenue of $146K, expenses of $137K, and assets of $269K (revenue +0.0% year-over-year).
- 2013: Revenue of $146K, expenses of $135K, and assets of $273K (revenue +1.0% year-over-year).
- 2012: Revenue of $144K, expenses of $137K, and assets of $270K (revenue -2.1% year-over-year).
- 2011: Revenue of $148K, expenses of $139K, and assets of $272K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for St Albans Housing Corporation:
Data Sources and Methodology
This transparency report for St Albans 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.