Bangor Homes Non-Profit Housing Corporation

Analysis

Bangor Homes Non-Profit Housing Corporation is a registered charity in United States, based in Bay City, MI. It received its IRS tax-exemption ruling in October 1978, 48 years ago. 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, Bangor Homes Non-Profit Housing Corporation reported income of $1.8m and spending of $1.7m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.8m (+20%), an average of +4.6% a year. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bangor Homes Non-Profit Housing Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Central Georgia Technical College Foundation Inc ($1.8m), Las Madrinas ($1.8m) and Spirit of Soccer Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $300k. At year end it held assets of $4.5m against liabilities of $348k, net assets of $4.1m. It reported 11 employees.