Mattawamkeag Housing Corp

Analysis

Mattawamkeag Housing Corp is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in May 1983, 43 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mattawamkeag Housing Corp reported income of $196k and spending of $206k, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $169k to $196k (+16%), an average of +3.8% a year. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mattawamkeag Housing Corp sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 46th percentile within ME. Charities of a similar size with the same main cause include Lutheran Church of South Sudan ($196k), Sugar Pine Foundation ($196k) and Residential Facilities Corp ($196k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $508k against liabilities of $874k, net assets of -$366k.

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.