Wardwell Commons Elderly Housing Inc
Wardwell Commons Elderly Housing Inc. consistently operates at a deficit with no executive compensation.
EIN: 10508663 · Saco, ME · NTEE: Z99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $127K |
| Total Expenses | $136K |
| Program Spending | 90% |
| Net Assets | $-392,592 |
| Transparency Score | 75/100 |
Is Wardwell Commons Elderly Housing Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wardwell Commons Elderly Housing Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wardwell Commons Elderly Housing Inc
Wardwell Commons Elderly Housing Inc (EIN: 10508663) is a nonprofit organization based in Saco, ME, classified under NTEE code Z99. The organization reported total revenue of $127K and total assets of $520K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wardwell Commons Elderly Housing Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wardwell Commons Elderly Housing Inc is a small nonprofit that has been operating for 29 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $130K |
| Total Expenses | $136K |
| Surplus / Deficit | $-5,864 |
| Total Assets | $545K |
| Total Liabilities | $938K |
| Net Assets | $-392,592 |
| Operating Margin | -4.5% |
| Debt-to-Asset Ratio | 172.0% |
| Months of Reserves | 48.3 months |
Financial Health Grade: C
In 2023, Wardwell Commons Elderly Housing Inc reported a deficit of $6K with expenses exceeding revenue, holds 48.3 months of operating reserves (strong position), has a debt-to-asset ratio of 172.0% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Wardwell Commons Elderly Housing Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +26.9% | +4.6% | -1.3% |
| 2022 | -1.7% | +10.1% | -4.4% |
| 2021 | +1.6% | -2.6% | -2.3% |
| 2020 | +4.5% | +8.5% | -2.9% |
| 2019 | -5.3% | -11.6% | -2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
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 Wardwell Commons Elderly Housing Inc 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, Wardwell Commons Elderly Housing Inc 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 $6K, with expenses exceeding revenue.
- Debt-to-asset ratio: 172.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable 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 Wardwell Commons Elderly Housing Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue in 9 of 10 periods)
- Liabilities consistently exceed assets (e.g., $937,885 liabilities vs. $545,293 assets in 2023)
Strengths
The following positive indicators were identified for Wardwell Commons Elderly Housing Inc:
- No executive compensation reported, indicating volunteer leadership and efficient use of funds
- Consistent focus on its mission of elderly housing as implied by NTEE code and stable operations over many years
Frequently Asked Questions about Wardwell Commons Elderly Housing Inc
Is Wardwell Commons Elderly Housing Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wardwell Commons Elderly Housing Inc (EIN: 10508663) some concerns. Mission Score: 75/100. 2 red flags identified, 2 strengths noted.
How does Wardwell Commons Elderly Housing Inc spend its money?
Wardwell Commons Elderly Housing Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Wardwell Commons Elderly Housing Inc tax-deductible?
Wardwell Commons Elderly Housing Inc is registered as a tax-exempt nonprofit (EIN: 10508663). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Wardwell Commons Elderly Housing Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Wardwell Commons Elderly Housing Inc is above average for NTEE category Z99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Wardwell Commons Elderly Housing Inc located?
Wardwell Commons Elderly Housing Inc is headquartered in Saco, Maine and files with the IRS under EIN 10508663. It is classified under NTEE code Z99.
How many years of IRS 990 filings does Wardwell Commons Elderly Housing Inc have?
Wardwell Commons Elderly Housing Inc 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 $127K in total revenue.
Is Wardwell Commons Elderly Housing Inc. financially sustainable given its consistent operating deficits?
The organization has consistently reported expenses exceeding revenue for most of the past decade (e.g., $135,542 expenses vs. $129,678 revenue in 2023). While its assets provide a buffer, this trend raises questions about long-term financial sustainability without increased revenue or reduced expenses.
What is the nature of the organization's liabilities, which consistently exceed its assets?
The filings show liabilities consistently higher than assets (e.g., $937,885 liabilities vs. $545,293 assets in 2023). Understanding the composition of these liabilities (e.g., mortgages, bonds, program-related investments) is crucial to assess financial risk.
How does Wardwell Commons Elderly Housing Inc. cover its operating deficits?
With consistent deficits, the organization must be drawing down reserves, receiving non-operating income not reflected in 'revenue,' or increasing its liabilities. Further detail on funding sources beyond reported revenue would clarify this.
Filing History
IRS 990 filing history for Wardwell Commons Elderly Housing Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Wardwell Commons Elderly Housing Inc's revenue has grown by 30.6%, moving from $99K to $130K. Total assets decreased by 21% over the same period, from $690K to $545K. Total functional expenses rose by 36%, from $100K to $136K. In its most recent filing year (2023), Wardwell Commons Elderly Housing Inc reported a deficit of $6K, with expenses exceeding revenue. The organization holds $938K in liabilities against $545K in assets (debt-to-asset ratio: 172.0%), resulting in net assets of $-392,592.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $130K | $136K | $545K | $938K | — | View 990 |
| 2022 | $102K | $130K | $552K | $939K | — | View 990 |
| 2021 | $104K | $118K | $578K | $937K | — | View 990 |
| 2020 | $102K | $121K | $591K | $937K | — | View 990 |
| 2019 | $98K | $111K | $609K | $937K | — | View 990 |
| 2018 | $103K | $126K | $622K | $936K | — | View 990 |
| 2017 | $101K | $136K | $662K | $954K | — | View 990 |
| 2016 | $103K | $102K | $680K | $936K | — | View 990 |
| 2015 | $101K | $105K | $678K | $936K | — | View 990 |
| 2014 | $102K | $104K | $681K | $935K | — | View 990 |
| 2013 | $101K | $107K | $683K | $935K | — | View 990 |
| 2012 | $99K | $100K | $690K | $937K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $130K, expenses of $136K, and assets of $545K (revenue +26.9% year-over-year).
- 2022: Revenue of $102K, expenses of $130K, and assets of $552K (revenue -1.7% year-over-year).
- 2021: Revenue of $104K, expenses of $118K, and assets of $578K (revenue +1.6% year-over-year).
- 2020: Revenue of $102K, expenses of $121K, and assets of $591K (revenue +4.5% year-over-year).
- 2019: Revenue of $98K, expenses of $111K, and assets of $609K (revenue -5.3% year-over-year).
- 2018: Revenue of $103K, expenses of $126K, and assets of $622K (revenue +2.5% year-over-year).
- 2017: Revenue of $101K, expenses of $136K, and assets of $662K (revenue -2.3% year-over-year).
- 2016: Revenue of $103K, expenses of $102K, and assets of $680K (revenue +2.0% year-over-year).
- 2015: Revenue of $101K, expenses of $105K, and assets of $678K (revenue -0.4% year-over-year).
- 2014: Revenue of $102K, expenses of $104K, and assets of $681K (revenue +0.7% year-over-year).
- 2013: Revenue of $101K, expenses of $107K, and assets of $683K (revenue +1.8% year-over-year).
- 2012: Revenue of $99K, expenses of $100K, and assets of $690K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wardwell Commons Elderly Housing Inc:
Data Sources and Methodology
This transparency report for Wardwell Commons Elderly Housing Inc 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.