Bangor Childrens Home

Analysis

Bangor Childrens Home is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in August 1942, 84 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Bangor Childrens Home reported income of $923k and spending of $972k, spending 105% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $848k to $923k (+8.7%), an average of +2.1% a year. The sharpest change came in the year to August 2021, when income rose by 38%. Over the whole period it spent 109% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bangor Childrens Home sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 75th percentile within ME. Charities of a similar size with the same main cause include Coronado Foundation for the Future Inc ($923k), Library Legacy Foundation of the Toledo-Luce County Public Library ($923k) and Built Environment Plus Inc ($923k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 3.3% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $68k (7.0% of expenses). Other salaries and wages came to $597k. At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m. It reported 42 employees.