Avesta Housing Development Corporation

Organization Overview

Avesta Housing Development Corporation is located in Portland, ME. The organization was established in 1976. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2019, Avesta Housing Development Corporation employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 12/2019, Avesta Housing Development Corporation generated $8.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $9.5m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

DEVELOPMENT AND MAINTENANCE OF LOW INCOME HOUSING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ALL EXPENSES RELATE TO DEVELOPMENT AND MAINTENANCE OF LOW INCOME ELDERLY HOUSING AND SECTION 8 EXISTING HOUSING RENTAL PROGRAMS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Kaplan Thompson Architects
Architectural
$311,502
Cws Architects
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$253,655
Curtis Thaxter Llc
Legal
$183,239
Heb Engineers
Engineering
$130,020
Clark Insurance
Insurance
$100,668
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,110,934
All other contributions, gifts, grants, and similar amounts not included above$1,019,669
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$4,130,603
Total Program Service Revenue$5,097,852
Investment income $159,469
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$646,162
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,741,762

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Avesta Housing Development Corporation has recieved totaling $80,000.

Awarding OrganizationAmount
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: GENERAL SUPPORT

$20,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: GENERAL SUPPORT

$20,000
Sam L Cohen Foundation

Portland, ME

PURPOSE: HOMELESS TO HOUSING COLLABORATION

$15,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: GENERAL SUPPORT

$10,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: GENERAL SUPPORT

$10,000
W R Berkley Corporation Charitable Foundation

Wilmington, DE

PURPOSE: BUILDING HOMES FOR OUR COMMUNITIES PROGRAM

$5,000
View Grant Recipient Profile

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