Stella Maris Housing Development Corp

Analysis

Stella Maris Housing Development Corp is a registered charity in United States, based in Rockland, ME. It received its IRS tax-exemption ruling in June 1981, 45 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Stella Maris Housing Development Corp reported income of $649k and spending of $686k, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $594k to $649k (+9.2%), an average of +2.2% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Stella Maris Housing Development Corp sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within ME. Charities of a similar size with the same main cause include Christopher Homes of Arkansas Inc ($648k), Housing Opportunities of Northern Kentucky Inc ($649k) and Heritage Center of Orange Inc ($648k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. At year end it held assets of $1.4m against liabilities of $1.9m, net assets of -$460k.

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.