Southern Maine Affordable Housing

Analysis

Southern Maine Affordable Housing is a registered charity in United States, based in Biddeford, ME. It received its IRS tax-exemption ruling in January 2015, 11 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 December 2023, Southern Maine Affordable Housing reported income of $1.5m and spending of $0, leaving 100% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $22k to $1.5m (+6677%), an average of +187% a year. The sharpest change came in the year to December 2020, when income rose by 409%. Over the whole period it spent 9.7% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southern Maine Affordable Housing sits at the 78th percentile: it is larger than about 78% 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 Lihi Cascade Senior Housingdevelopment ($1.5m), Bethany Development Corporation ($1.5m) and Haven of Grace ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $5.4m against liabilities of $3.6m, net assets of $1.9m.