THE BANGOR AREA HOMELESS SHELTER (EIN 010412267) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1985

Legal Domicile

Principal Officer

BOYD KRONHOLM

Phone

2079470045

Tax Period

2023-07-01 to 2024-06-30

THE BANGOR AREA HOMELESS SHELTER is a 501(c)(3) with EIN 010412267, based in BANGOR, ME. Founded in 1985, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $1,257,721 in total revenue and $1,109,409 in total expenses, with net assets of $2,269,936.

Mission

TO PROVIDE EMERGENCY FOOD AND SHELTER TO THE AREA HOMELESS

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $984,088

Program Service Revenue $46,035

Investment Income $124,873

Other Revenue $102,725

TOTAL REVENUE $1,257,721

Expense Breakdown

Grants Paid $0

Salaries & Benefits $861,273

Fundraising Expenses $31,110

Program Expenses $983,703

Other Expenses $248,136

TOTAL EXPENSES $1,109,409

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,257,721	$1,340,925	-0.1%
Expenses	$1,109,409	$1,019,021	+0.1%
Net Income	$148,312	$321,904	-0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

150

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$81,278

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOYD KRONHOLM	Executive Dir.	40.00	Director	$81,278	$0	$81,278
LYNDSEY VIOLETTE	Treasurer	1.00	Officer Director	$0	$0	$0
WILLIAM NEALEY	Vice President	1.00	Officer Director	$0	$0	$0
LARRY GEAGHAN	Director	1.00	Director	$0	$0	$0
DAN SAUNDERS	Director	1.00	Director	$0	$0	$0
MAULIAN DANA	Director	1.00	Director	$0	$0	$0
DR JIM CLARKE	Director	1.00	Director	$0	$0	$0
JR MITCHELL	Director	1.00	Director	$0	$0	$0
PETER MALIA	Director	1.00	Director	$0	$0	$0
SUSAN POLYOT	Director	1.00	Director	$0	$0	$0
MISHAEL ROMANELLI	President	1.00	Officer Director	$0	$0	$0
RENE WHITNEY	Director	1.00	Director	$0	$0	$0
JENNY GAGE	Secretary	1.00	Officer Director	$0	$0	$0
HARRIS MADSON	Director	1.00	Director	$0	$0	$0
JESSICA CHUTE	Director	1.00	Director	$0	$0	$0
BOYD KRONHOLM	EXECUTIVE DIRECTOR	40.00		$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,257,721	$1,109,409	$3,117,792	$148,312
2023	$1,340,925	$1,019,021	$2,565,273	$321,904
2022	$1,395,691	$972,878	$2,173,397	$422,813
2021	$1,208,916	$923,517	$1,953,300	$285,399
2020	$1,168,632	$907,471	$1,581,258	$261,161
2019	$847,215	$859,703	$1,368,714	$-12,488

THE BANGOR AREA HOMELESS SHELTER