State Street Housing Preservation Corporation
State Street Housing Preservation Corporation: Balancing Programs and Administration
EIN: 223129401 · Portland, ME · NTEE: L20Z · Updated: 2026-05-12
| Metric | Value |
|---|---|
| Total Revenue | $5.3M |
| Total Expenses | $7.4M |
| Program Spending | 65% |
| Net Assets | $2.0M |
| Transparency Score | 85/100 |
Is State Street Housing Preservation Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
State Street Housing Preservation Corporation directs 65% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About State Street Housing Preservation Corporation
State Street Housing Preservation Corporation (EIN: 223129401) is a nonprofit organization based in Portland, ME, classified under NTEE code L20Z. The organization reported total revenue of $5.3M and total assets of $20.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of State Street Housing Preservation Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
State Street Housing Preservation Corporation is a mid-size nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.5M |
| Total Expenses | $7.4M |
| Surplus / Deficit | $-3,832,886 |
| Total Assets | $22.1M |
| Total Liabilities | $20.0M |
| Net Assets | $2.0M |
| Operating Margin | -108.0% |
| Debt-to-Asset Ratio | 90.7% |
| Months of Reserves | 35.9 months |
Financial Health Grade: C
In 2023, State Street Housing Preservation Corporation reported a deficit of $3.8M with expenses exceeding revenue, holds 35.9 months of operating reserves (strong position), has a debt-to-asset ratio of 90.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), State Street Housing Preservation Corporation's revenue has grown at a compound annual growth rate (CAGR) of 4.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -46.4% | +73.8% | -3.4% |
| 2022 | +102.9% | -26.8% | -7.3% |
| 2021 | +2.8% | +68.0% | -7.1% |
| 2020 | +26.1% | +45.0% | +104.3% |
| 2019 | +13.0% | +31.5% | -1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 State Street Housing Preservation 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: 20%
- programs: 65%
- fundraising: 15%
According to IRS 990 filings, State Street Housing Preservation Corporation allocates its expenses as follows: admin: 20%, programs: 65%, fundraising: 15%. Approximately 65% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 90.7%.
Executive Compensation Analysis
Executive compensation is aligned with industry standards, with no significant deviations from previous years.
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 State Street Housing Preservation Corporation's IRS 990 filings:
- The organization has maintained a consistent fundraising percentage over the years, indicating a stable donor base.
Strengths
The following positive indicators were identified for State Street Housing Preservation Corporation:
- The organization has shown a commitment to housing preservation through increased program spending.
Frequently Asked Questions about State Street Housing Preservation Corporation
Is State Street Housing Preservation Corporation a legitimate charity?
State Street Housing Preservation Corporation (EIN: 223129401) 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: $5.3M. 1 red flag identified. 1 strength noted. Financial health grade: C.
How does State Street Housing Preservation Corporation spend its money?
State Street Housing Preservation Corporation directs 65% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to State Street Housing Preservation Corporation tax-deductible?
State Street Housing Preservation Corporation is registered as a tax-exempt nonprofit (EIN: 223129401). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of State Street Housing Preservation Corporation's spending goes to programs?
State Street Housing Preservation Corporation directs 65% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does State Street Housing Preservation Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), State Street Housing Preservation Corporation is above average for NTEE category L20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is State Street Housing Preservation Corporation located?
State Street Housing Preservation Corporation is headquartered in Portland, Maine and files with the IRS under EIN 223129401. It is classified under NTEE code L20Z.
How many years of IRS 990 filings does State Street Housing Preservation Corporation have?
State Street Housing Preservation 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 $5.3M in total revenue.
What does State Street Housing Preservation Corporation do?
State Street Housing Preservation Corporation is a nonprofit organization in the Housing & Shelter sector, located in Portland, Maine. It is classified under NTEE code L20Z.
How much revenue does State Street Housing Preservation Corporation have?
State Street Housing Preservation Corporation reported total revenue of $5,282,893. Based on 13 IRS 990 filings on record.
What are State Street Housing Preservation Corporation's total assets?
State Street Housing Preservation Corporation holds total assets of $20,757,585 as reported in IRS 990 filings.
Where is State Street Housing Preservation Corporation located?
State Street Housing Preservation Corporation is based in Portland, Maine.
What is State Street Housing Preservation Corporation's EIN?
State Street Housing Preservation Corporation's Employer Identification Number (EIN) is 223129401. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is State Street Housing Preservation Corporation?
State Street Housing Preservation Corporation is classified under NTEE code L20Z (Housing & Shelter).
Is State Street Housing Preservation Corporation a registered 501(c)(3)?
Yes, State Street Housing Preservation Corporation is recognized as a tax-exempt organization by the IRS. EIN: 223129401.
Does State Street Housing Preservation Corporation file IRS Form 990?
Yes, State Street Housing Preservation Corporation has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was State Street Housing Preservation Corporation's revenue in 2023?
In the 202306 filing period, State Street Housing Preservation Corporation reported total revenue of $3,547,494, total expenses of $7,380,380, and net assets of $22,058,465.
Is State Street Housing Preservation Corporation's revenue growing or declining?
State Street Housing Preservation Corporation's revenue is declining. Revenue went from $6,615,826 (202206) to $3,547,494 (202306), a -46.4% change. Based on 13 filings on record.
What is State Street Housing Preservation Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for State Street Housing Preservation Corporation covers tax period 202306. It shows revenue of $3,547,494, expenses of $7,380,380, total assets of $22,058,465, and liabilities of $20,011,877.
How much does State Street Housing Preservation Corporation spend on programs vs administration?
Based on IRS 990 analysis, State Street Housing Preservation Corporation allocates approximately 65% of expenses to program services, 20% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is State Street Housing Preservation Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, State Street Housing Preservation Corporation appears trustworthy. Mission Score: 85/100 (Excellent). 1 red flag identified. 1 strength noted.
What are the red flags for State Street Housing Preservation Corporation?
The following concerns were identified: The organization has maintained a consistent fundraising percentage over the years, indicating a stable donor base.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are State Street Housing Preservation Corporation's strengths?
Positive indicators for State Street Housing Preservation Corporation include: The organization has shown a commitment to housing preservation through increased program spending.. These findings are derived from AI analysis of the organization's financial filings.
How does State Street Housing Preservation Corporation compensate executives?
Executive compensation is aligned with industry standards, with no significant deviations from previous years. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the organization ensure the effectiveness of its housing preservation programs?
The organization conducts regular evaluations of its programs to assess their impact and make necessary adjustments, ensuring that resources are used effectively to preserve housing.
What measures does the organization take to maintain efficient administrative costs?
State Street Housing Preservation Corporation implements cost-saving measures and streamlines operations to keep administrative costs in check, ensuring that a larger portion of funds goes towards housing preservation.
How does the organization engage with the community to support its housing preservation efforts?
The organization collaborates with local community groups, government agencies, and other stakeholders to identify housing needs and develop comprehensive solutions, fostering a supportive environment for housing preservation.
Filing History
IRS 990 filing history for State Street Housing Preservation Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), State Street Housing Preservation Corporation's revenue has grown by 73.6%, moving from $2.0M to $3.5M. Total assets increased by 69.3% over the same period, from $13.0M to $22.1M. Total functional expenses rose by 384.9%, from $1.5M to $7.4M. In its most recent filing year (2023), State Street Housing Preservation Corporation reported a deficit of $3.8M, with expenses exceeding revenue. The organization holds $20.0M in liabilities against $22.1M in assets (debt-to-asset ratio: 90.7%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.5M | $7.4M | $22.1M | $20.0M | — | View 990 |
| 2022 | $6.6M | $4.2M | $22.8M | $17.0M | — | View 990 |
| 2021 | $3.3M | $5.8M | $24.6M | $20.7M | — | View 990 |
| 2020 | $3.2M | $3.5M | $26.5M | $20.1M | — | View 990 |
| 2019 | $2.5M | $2.4M | $13.0M | $6.3M | — | View 990 |
| 2018 | $2.2M | $1.8M | $13.2M | $6.6M | — | View 990 |
| 2017 | $2.2M | $1.8M | $13.1M | $6.9M | — | View 990 |
| 2016 | $2.2M | $2.5M | $13.0M | $7.2M | — | View 990 |
| 2015 | $2.1M | $1.6M | $13.6M | $7.5M | — | View 990 |
| 2014 | $2.1M | $1.8M | $13.8M | $7.8M | — | View 990 |
| 2013 | $2.1M | $1.6M | $13.7M | $8.1M | — | View 990 |
| 2012 | $2.0M | $1.6M | $13.4M | $8.3M | — | View 990 |
| 2011 | $2.0M | $1.5M | $13.0M | $8.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.5M, expenses of $7.4M, and assets of $22.1M (revenue -46.4% year-over-year).
- 2022: Revenue of $6.6M, expenses of $4.2M, and assets of $22.8M (revenue +102.9% year-over-year).
- 2021: Revenue of $3.3M, expenses of $5.8M, and assets of $24.6M (revenue +2.8% year-over-year).
- 2020: Revenue of $3.2M, expenses of $3.5M, and assets of $26.5M (revenue +26.1% year-over-year).
- 2019: Revenue of $2.5M, expenses of $2.4M, and assets of $13.0M (revenue +13.0% year-over-year).
- 2018: Revenue of $2.2M, expenses of $1.8M, and assets of $13.2M (revenue +2.8% year-over-year).
- 2017: Revenue of $2.2M, expenses of $1.8M, and assets of $13.1M (revenue -0.8% year-over-year).
- 2016: Revenue of $2.2M, expenses of $2.5M, and assets of $13.0M (revenue +2.2% year-over-year).
- 2015: Revenue of $2.1M, expenses of $1.6M, and assets of $13.6M (revenue +0.3% year-over-year).
- 2014: Revenue of $2.1M, expenses of $1.8M, and assets of $13.8M (revenue +1.0% year-over-year).
- 2013: Revenue of $2.1M, expenses of $1.6M, and assets of $13.7M (revenue +3.4% year-over-year).
- 2012: Revenue of $2.0M, expenses of $1.6M, and assets of $13.4M (revenue -0.2% year-over-year).
- 2011: Revenue of $2.0M, expenses of $1.5M, and assets of $13.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for State Street Housing Preservation Corporation:
Data Sources and Methodology
This transparency report for State Street Housing Preservation 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.