Bangor Area Homeless Shelter

Analysis

Bangor Area Homeless Shelter is a registered charity in United States, based in Bangor, ME. It received its IRS tax-exemption ruling in November 1987, 39 years ago. 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 June 2023, Bangor Area Homeless Shelter reported income of $1.3m and spending of $1.0m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $847k to $1.3m (+58%), an average of +12% a year. The sharpest change came in the year to June 2020, when income rose by 38%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bangor Area Homeless Shelter sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within ME. Charities of a similar size with the same main cause include Lincoln Theatre Association ($1.3m), National Family Caregivers Assoc ($1.3m) and Gowanda Ambulance Service Corp ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $83k (8.1% of expenses). Other salaries and wages came to $591k. At year end it held assets of $2.6m against liabilities of $487k, net assets of $2.1m. It reported 29 employees.