WELCOME TO HOUSING HOME GOODS BANK

EIN: 822050478 501(c)(3) Human Services

BANGOR, ME

Total Revenue
$397,816
Total Expenses
$5,875
Total Assets
$395,608
Net Assets
$395,608
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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
ME
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

THIS NON-PROFIT CORPORATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE PURPOSES, INCLUDING, TO PROVIDE NEW AND GENTLY USED HOUSEHOLD GOODS TO PEOPLE IN NEED FREE OF CHARGE; TO MAINTAIN A HOME GOODS BANK THAT CURRENTLY SERVES CLIENTS OF 50 HEALTH & WELFARE AGENCIES; TO SERVE INDIVIDUALS MOVING FROM SHELTER PROGRAMS TO PERMANENT HOUSING; TO SERVE PEOPLE DISPLACED BY DOMESTIC VIOLENCE, DISPLACED BY FIRE AND OTHER DISASTERS AND INDVIDUALS RE-ENTERING THE COMMUNITY FROM CORRECTIONS. THE ORGANIZATION WILL ACTIVELY SOLICIT COMMUNITY SUPPORT TO COLLECT DONATIONS OF HOUSEHOLD ITEMS AND/OR FUNDS TO PURCHASE HOUSEHOLD ITEMS TO BE RE-DISTRIBUTED TO PEOPLE IN NEED.

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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%)

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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

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
35

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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
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
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