Freeport Housing Trust Inc

Analysis

Freeport Housing Trust Inc is a registered charity in United States, based in Freeport, ME. It received its IRS tax-exemption ruling in July 1990, 36 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 September 2023, Freeport Housing Trust Inc reported income of $1.4m and spending of $1.2m, spending 85% of its income. Across the 4 years on record, from September 2020 to September 2023, income grew from $697k to $1.4m (+106%), an average of +27% a year. The sharpest change came in the year to September 2021, when income rose by 86%. Over the whole period it spent 75% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Freeport Housing Trust Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within ME. Charities of a similar size with the same main cause include Massachusetts Chapter of the Natl Assoc of Housing & Redevelopment O ($1.4m), Louisville Housing Opportunities and Microenterprise Comm Dev Loan ($1.4m) and Flagstaff Housing Corporation ($1.4m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 93% of the total. Compensation of current officers, directors and key employees was $89k (7.2% of expenses). At year end it held assets of $8.5m against liabilities of $3.8m, net assets of $4.8m.