BANGOR HOUSING DEVELOPMENT CORPORATION (EIN 222970652) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1987

Legal Domicile

Principal Officer

MICHAEL MYATT

Phone

2079426365

Tax Period

2023-07-01 to 2024-06-30

BANGOR HOUSING DEVELOPMENT CORPORATION, founded in 1987, is a community nonprofit that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Expenses of $3.4M left a modest 4% surplus.

Mission

THE SPECIFIC PURPOSES OF THE CORPORATION ARE TO ORGANIZE, DEVELOP, FINANCIALLY ASSIST, OR MANAGE, ON A NON-PROFIT BASIS, PROJECTS OR PROGRAMS PROVIDING LOW- AND MODERATE-INCOME RENTALS IN MAINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,508,336

Investment Income $50,470

Other Revenue $0

TOTAL REVENUE $3,558,806

Expense Breakdown

Grants Paid $0

Salaries & Benefits $417,896

Fundraising Expenses $0

Program Expenses $3,060,107

Other Expenses $2,990,556

TOTAL EXPENSES $3,408,452

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,558,806	$2,693,999	+0.3%
Expenses	$3,408,452	$3,036,759	+0.1%
Net Income	$150,354	$-342,760	-1.4%

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

N/A

Volunteers

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

$228,395

Total Directors

$228,395

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH HAYWARD	PRESIDENT	1.00	Officer Director	$0	$0	$0
RODNEY MCKAY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHAEL MYATT	SECRETARY/TREASURER	1.00	Officer Director	$59,075	$18,797	$228,395
JANE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
ROBERTA DOWNEY	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD LAFERTIE	DIRECTOR	1.00	Director	$0	$0	$0
PAUL CHAIKEN	DIRECTOR	1.00	Director	$0	$0	$0
BRENDA BROWN	DIRECTOR	1.00	Director	$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
2025	No data	No data	No data	No data
2024	$3,558,806	$3,408,452	$11,329,345	$150,354
2023	$2,693,999	$3,036,759	$18,401,431	$-342,760
2022	$2,631,454	$3,121,880	$11,209,624	$-490,426
2021	$2,567,289	$2,679,510	$11,349,927	$-112,221
2020	$2,507,970	$2,784,641	$11,644,694	$-276,671
2019	$3,592,338	$2,683,408	$11,861,799	$908,930

BANGOR HOUSING DEVELOPMENT CORPORATION