Maple Grove Elderly Housing Corporation

Analysis

Maple Grove Elderly Housing Corporation is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in December 1977, 49 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, Maple Grove Elderly Housing Corporation reported income of $1.1m and spending of $1.2m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $504k to $1.1m (+122%), an average of +22% a year. The sharpest change came in the year to December 2020, when income rose by 145%. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Maple Grove Elderly Housing Corporation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within ME. Charities of a similar size with the same main cause include Bethesda Corp ($1.1m), Nine Wall Street Corp ($1.1m) and Pacific Beach RHF Housing Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 66% of the total. At year end it held assets of $9.1m against liabilities of $8.8m, net assets of $285k.