Portland Housing Development Corporation
- Assets
- $5.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 09/1984
- Data as of
- 06/2021
- EIN
- 22-2527595
Organization Overview
Portland Housing Development Corporation is located in Portland, ME. The organization was established in 1984. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portland Housing Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2021, Portland Housing Development Corporation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $2.2m during the year ending 06/2021. While expenses have increased by 24.9% per year over the past 6 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
CONSTRUCTION OF LOW INCOME HOUSING, RENT SUPPLEMENTS AND SUPPORT SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FOR LOWER-INCOME RESIDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Sessions President/tr | OfficerTrustee | 0 | $0 |
Luisa Deprez Director | OfficerTrustee | $0 | |
Thomas Valleau Director | Trustee | $0 | |
Kristin Blum Chair | Trustee | $0 | |
Robyn Tucker Director | Trustee | $0 | |
Christian Milneil Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,492,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,492,000 |
| Total Program Service Revenue | $264,571 |
| Investment income | $505 |
| 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 | $2,757,076 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $428,246 |
| Fees for services: Legal | $1,746 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $36,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,739 |
| Travel | $230 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,857 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,689 |
| Insurance | $32,246 |
| All other expenses | $0 |
| Total functional expenses | $2,183,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $720,780 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,714 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $621,607 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,565 |
| Net Land, buildings, and equipment | $3,953,045 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,328,711 |
| Accounts payable and accrued expenses | $1,190 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $782,826 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $35,974 |
| Total liabilities | $819,990 |
| Net assets without donor restrictions | $4,508,721 |
| Net assets with donor restrictions | $0 |
| 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 | $5,328,711 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Portland Housing Development Corporation has recieved totaling $90,642.
| Awarding Organization | Amount |
|---|---|
United Way Inc Portland, ME PURPOSE: Community Investment | $90,642 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
York County Shelter Programs Inc Alfred, ME | $7,515,033 | $5,469,246 |
Our Katahdin Millinocket, ME | $1,421,809 | $1,815,951 |
Portland Housing Development Corporation Portland, ME | $5,328,711 | $2,757,076 |
Northern Aroostook Alternatives Inc Van Buren, ME | $1,275,126 | $1,273,850 |
Downtown Improvement District Inc Portland, ME | $317,810 | $1,068,998 |
Capital Regional Development Council Concord, NH | $14,984,194 | $977,983 |
Harbor House Community Service Center Southwest Harbor, ME | $2,151,335 | $1,095,406 |
Granite State Organizing Project Manchester, NH | $626,444 | $1,199,163 |
Southern Maine Finance Agency Biddeford, ME | $7,727,125 | $658,421 |
Belknap County Economic Development Council Inc Laconia, NH | $5,665,349 | $1,533,067 |
Kennebunkport Heritage Housing Trust 2 Kennebunkport, ME | $281,718 | $538,218 |
Lakes Region Association Tilton, NH | $267,945 | $618,094 |