WELCOME TO HOUSING HOME GOODS BANK

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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

2017

Legal Domicile

Principal Officer

CHRISTOPHER OLSEN

Phone

2077451287

Tax Period

2021-01-01 to 2021-12-31

WELCOME TO HOUSING HOME GOODS BANK, founded in 2017, is a small nonprofit in the Human Services sector that reported $398K in total revenue in fiscal year 2021. Revenue surged 8854% from the prior year, signaling strong growth momentum. The organization ran a surplus of $392K, a strong 99% operating margin.

Mission

WELCOME TO HOUSING IS A HOUSEHOLD GOODS BANK AND SERVES PEOPLE IN NEED IN THE BANGOR REGION. OUR GOAL IS TO HELP INDIVIDUALS, INCLUDING VETERANS AND FAMILIES SUCCEED AS THEY TRANSITION FROM AREA SHELTERS TO PERMANENT HOUSING BY PROVIDING BASIC HOUSEHOLD ITEMS DONATED THROUGH THE LOCAL COMMUNITY. WE ALSO HELP PEOPLE DISPLACED BY FIRE AND DOMESTIC VIOLENCE.

Program Service Accomplishments

Program 1

Expenses: $5,875

TO SOLICIT COMMUNITY SUPPORT TO COLLECT DONATIONS OF HOUSEHOLD ITEMS AND/OR FUNDS TO PURCHASE HOUSEHOLD ITEMS TO BE REDISTRIBUTED TO PEOPLE IN NEED FREE OF CHARGE. THE SERVED INDIVIDUALS INCLUDE...

TO SOLICIT COMMUNITY SUPPORT TO COLLECT DONATIONS OF HOUSEHOLD ITEMS AND/OR FUNDS TO PURCHASE HOUSEHOLD ITEMS TO BE REDISTRIBUTED TO PEOPLE IN NEED FREE OF CHARGE. THE SERVED INDIVIDUALS INCLUDE VETERANS AND FAMILIES MOVING FROM SHELTER PROGRAMS TO PERMANENT HOUSING; PEOPLE DISPLACED BY DOMESTIC VIOLENCE; DISPLACED BY FIRE OR ANY OTHER DISASTER AND PEOPLE RE- ENTERING THE COMMUNITY FORM CORRECTIONS.

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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 (2021)

Revenue Breakdown

Contributions & Grants $397,816

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $397,816

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,875

Other Expenses $5,875

TOTAL EXPENSES $5,875

Year-over-Year Comparison

	2021	2020	Change
Revenue	$397,816	$4,443	+88.5%
Expenses	$5,875	$3,260	+0.8%
Net Income	$391,941	$1,183	+330.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER OLSEN	PRESIDENT	20.00	Officer Director	$0	$0	$0
GAIL MCNERNEY	VICE PRESIDE	20.00	Officer Director	$0	$0	$0
MELONY STOCKLEY	SECRETARY	1.00	Officer Director	$0	$0	$0
ROBIN PINKHAM	TREASURER	N/A	Officer Director	$0	$0	$0
JAN DOUCETTE	ADVISORY BOA	N/A	Director	$0	$0	$0
DAVID SAMUELIAN	ADVISORY BOA	N/A	Director	$0	$0	$0
KEVIN MOONEY	ADVISORY BOA	N/A	Director	$0	$0	$0
RONDA SAVAGE	ADVISORY BOA	N/A	Director	$0	$0	$0
ANDREW CROCE	ADVISORY BOA	N/A	Director	$0	$0	$0
DAVID PATRICK	ADVISORY BOA	N/A	Director	$0	$0	$0
CELINA FELLOWS	ADVISORY BOA	N/A	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
2021	$397,816	$5,875	$395,608	$391,941