Corinth Housing Corporation

Nonprofit profile at a glance

EIN
010332353
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Stetson, ME, USA
Phone
2072962106
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$281,351
Expenses
$259,667
Assets
$610,592
Liabilities
$55,151

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DAVID DUNFEE (PRESIDENT)
  • MIKE LIBBY (VICE PRESIDENT)

Highest reported compensation

  • CHARLES MARTIN (MANAGEMENT COMPANY): $40,898 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Low-income housing

What it reported doing in 2025

Provided low-income housing for the elderly, 24 units

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.1%; rating input score 79
  • Program expense ratio: 85.8%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.7%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 2.35; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 15.8%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 44th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 79.1% of revenue deployed · 85.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $223K in reported program spending
  • Leadership: top reported pay $41K · 10 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 7 of 8 not reported.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.