Seventy-Five State Street
- Assets
- $13.7m
- Revenue
- $7.3m
- Investments
- $233.1k
- Employees
- 163
- Location
- Portland, ME
- Founding
- 07/1942
- Data as of
- 12/2021
- EIN
- 01-0211791
Organization Overview
Seventy-Five State Street is located in Portland, ME. The organization was established in 1942. 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, Seventy-Five State Street employed 163 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seventy-Five State Street 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, Seventy-Five State Street generated $7.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $7.4m during the year ending 12/2021. While expenses have increased by 3.3% 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
RESIDENTIAL CARE FACILITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A RESIDENTIAL CARE (69 BEDS) AND INDEPENDENT LIVING (85 APARTMENTS) FACILITY FOR THE ELDERLY IN THE CUMBERLAND COUNTY AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Duffy Administrator | Officer | 30 | $108,784 |
Christine Bougie Past Administrator | Officer | 40 | $83,871 |
Julia Redding Vice Chair | OfficerTrustee | 4 | $0 |
Kate Guare Secretary | OfficerTrustee | 4 | $0 |
Neal Allen Chair | OfficerTrustee | 4 | $0 |
Mike Voisine Treasurer | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Triglione Construction Construction | 12/30/21 | $342,301 |
Wright-ryan Construction | 12/30/21 | $545,830 |
Avesta Housing Development Corp Management Services | 12/30/21 | $502,877 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $128,455 |
| All other contributions, gifts, grants, and similar amounts not included above | $88,424 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,879 |
| Total Program Service Revenue | $7,169,125 |
| Investment income | $110,770 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$181,603 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,315,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $215,576 |
| Compensation of current officers, directors, key employees. | $215,576 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,394,161 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $593,143 |
| Payroll taxes | $267,961 |
| Fees for services: Management | $276,296 |
| Fees for services: Legal | $1,358 |
| Fees for services: Accounting | $37,029 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,309 |
| Fees for services: Other | $108,913 |
| Advertising and promotion | $67,129 |
| Office expenses | $259,195 |
| Information technology | $34,003 |
| Royalties | $0 |
| Occupancy | $520,279 |
| Travel | $22,083 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,875 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $661,790 |
| Insurance | $61,435 |
| All other expenses | $0 |
| Total functional expenses | $7,359,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,181,337 |
| Savings and temporary cash investments | $766,259 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $433,566 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,305 |
| Net Land, buildings, and equipment | $7,046,579 |
| Investments—publicly traded securities | $3,908,381 |
| Investments—other securities | $233,055 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $131,566 |
| Total assets | $13,728,048 |
| Accounts payable and accrued expenses | $1,944,602 |
| Grants payable | $0 |
| Deferred revenue | $160,716 |
| Tax-exempt bond liabilities | $1,740,510 |
| Escrow or custodial account liability | $96,512 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,000,000 |
| Unsecured mortgages and notes payable | $1,268,748 |
| Other liabilities | $26,676 |
| Total liabilities | $6,237,764 |
| Net assets without donor restrictions | $6,299,088 |
| Net assets with donor restrictions | $1,191,196 |
| 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 | $13,728,048 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Seventy-Five State Street has recieved totaling $63,551.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $55,500 |
Eunice Frye Home Portland, ME PURPOSE: GENERAL PURPOSE GRANT TO AID ASSISTED LIVING PROGRAMS | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $51 |
Endowment Analysis
| Beg. Balance | $3,714,092 |
| Earnings | $642,783 |
| Other Expense | $92,000 |
| Ending Balance | $4,264,875 |
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 |