Phillips-Strickland House Corporation
- Assets
- $8.4m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 73
- Location
- Bangor, ME
- Founding
- 07/1976
- Data as of
- 12/2021
- EIN
- 01-0342167
Organization Overview
Phillips-Strickland House Corporation is located in Bangor, ME. The organization was established in 1976. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Phillips-Strickland House Corporation employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phillips-Strickland House Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Phillips-Strickland House Corporation generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A BOARDING CARE FACILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING A 48 BED BOARDING CARE FACILITY FOR ELDERLY MEN AND WOMEN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Woodford Executive Director | Officer | 40 | $74,978 |
Sheldon Brett Executive Director | Officer | 40 | $50,332 |
Edward Youngblood Vice President | OfficerTrustee | 0.5 | $0 |
Glen Porter ESQ Treasurer | OfficerTrustee | 0.5 | $0 |
Kenneth Rozeboom President | OfficerTrustee | 0.5 | $0 |
Graceann Feher Secretary | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $332,013 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $340,703 |
| Total Program Service Revenue | $1,733,055 |
| Investment income | $39,022 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,117,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $85,087 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,310 |
| Compensation of current officers, directors, key employees. | $125,310 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,289,445 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $157,526 |
| Payroll taxes | $108,299 |
| Fees for services: Management | $6,615 |
| Fees for services: Legal | $1,127 |
| Fees for services: Accounting | $16,430 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,941 |
| Office expenses | $6,909 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,454 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,834 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $99,160 |
| Insurance | $87,176 |
| All other expenses | $88,427 |
| Total functional expenses | $2,485,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $422,555 |
| Savings and temporary cash investments | $182,226 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,159 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,341 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,822 |
| Net Land, buildings, and equipment | $1,182,412 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,521,979 |
| Total assets | $8,449,494 |
| Accounts payable and accrued expenses | $321,134 |
| Grants payable | $0 |
| Deferred revenue | $154,882 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $250,339 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $726,355 |
| Net assets without donor restrictions | $1,318,515 |
| Net assets with donor restrictions | $6,404,624 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,449,494 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phillips-Strickland House Corporation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Barbara Cassidy Foundation Biddeford, ME PURPOSE: REQUIRED DISTRIBUTION | $2,000 |
Endowment Analysis
| Beg. Balance | $4,683,692 |
| Earnings | $728,071 |
| Admin Expense | $15,097 |
| Net Contributions | $85,087 |
| Other Expense | $210,000 |
| Ending Balance | $5,271,753 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |
Huntington At Nashua Nashua, NH | $69,976,352 | $16,206,015 |
Seventy-Five State Street Portland, ME | $13,728,048 | $7,315,171 |
Jha Assisted Living Inc Portland, ME | $14,866,848 | $7,038,080 |
Baldwin Senoir Living Londonderry, NH | $22,001,012 | $0 |
Franklin Home For The Aged Association Franklin, NH | $22,009,472 | $3,298,443 |
Bangor Housing Development Corporation Bangor, ME | $11,349,927 | $2,567,289 |
Phillips-Strickland House Corporation Bangor, ME | $8,449,494 | $2,117,015 |
Maple Grove Elderly Housing Corporation Portland, ME | $8,726,293 | $2,128,968 |
Sarah Frye Home Auburn, ME | $1,615,102 | $1,421,566 |
Visions For Creative Housing Solutions Enfield, NH | $5,549,521 | $2,860,844 |
Hill Street Terrace Housing Corp Portland, ME | $5,424,435 | $1,256,101 |