Phillips-Strickland House Corporation

Analysis

Phillips-Strickland House Corporation is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in July 1976, 50 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Phillips-Strickland House Corporation reported income of $2.1m and spending of $2.7m, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.9m to $2.1m (+10%), an average of +2.5% a year. Over the whole period it spent 123% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Phillips-Strickland House Corporation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within ME. Charities of a similar size with the same main cause include Salisbury Housing Committee Inc ($2.1m), Legacy25 Inc ($2.1m) and Lakewood Tenants Organization Inc ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $122k (4.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $7.1m against liabilities of $560k, net assets of $6.5m. It reported 76 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.