Bath Housing Development Corporation
- Assets
- $12.7m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Bath, ME
- Founding
- 04/1994
- Data as of
- 12/2021
- EIN
- 22-2618694
Organization Overview
Bath Housing Development Corporation is located in Bath, ME. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bath Housing Development 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, Bath Housing Development Corporation generated $6.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.0% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 10.6% 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
TO FOSTER, ENCOURAGE, PARTICIPATE IN, FINANCE, OWN, OPERATE, PROMOTE AND ADVANCE THE DEVELOPMENT OF HOUSING PROJECTS AND RELATED FACILITIES AFFORDABLE BY PRIMARILY LOW INCOME PERSONS AND FAMILIES; TO PROVIDE AFFORDABLE FINANCIAL AND TECHNICAL ASSISTANCE AND SERVICES TO LOW INCOME HOMEOWNERS; TO IMPLEMENT PROGRAMS INTENDED TO ENHANCE THE GROWTH OF SOCIAL AND ECONOMIC STABILITY FOR LOW INCOME FAMILIES; AND TO PROMOTE THE COMMON GOOD AND GENERAL WELFARE OF THE INHABITANTS IN THE BATH, MAINE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT, IMPROVEMENT AND MANAGEMENT OF HOUSING FOR LOW INCOME PERSONS. BHDC OWNS 88 MULTI-FAMILY APARTMENTS WHICH IT RUNS IN ACCORDANCE WITH ITS CHARITABLE MISSION.
BHDC LEASES A COMMERCIAL OFFICE BUILDING TO BATH HOUSING AUTHORITY.
BHDC OPERATES COMFORTABLY HOME SERVING LOW-INCOME, OLDER ADULTS AND PEOPLE WITH DISABILITIES. THE PROGRAM CONDUCTS HOME MODIFICATIONS TO ALLOW PEOPLE TO THRIVE IN THEIR OWN HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debora Keller Secretary/executive Direct | OfficerTrustee | 10 | $0 |
Barbara Gaul Chair | OfficerTrustee | 1 | $0 |
Andrew Deci Vice Chair | OfficerTrustee | 1 | $0 |
Nancy Carleton Treasurer | OfficerTrustee | 1 | $0 |
John Evans Director | Trustee | 1 | $0 |
Nancy Jennings Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $620,881 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,378,771 |
| Noncash contributions included in lines 1a–1f | $4,238,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,999,652 |
| Total Program Service Revenue | $1,271,535 |
| Investment income | $5,209 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,292 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,289,688 |
| 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 | $193,926 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,343 |
| Payroll taxes | $0 |
| Fees for services: Management | $204,564 |
| Fees for services: Legal | $10,183 |
| Fees for services: Accounting | $49,579 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,859 |
| Fees for services: Other | $0 |
| Advertising and promotion | $150 |
| Office expenses | $4,854 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $866,421 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $158,669 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $233,256 |
| Insurance | $69,253 |
| All other expenses | $0 |
| Total functional expenses | $1,911,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,846 |
| Savings and temporary cash investments | $23,293 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,291 |
| 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 | $21,788 |
| Net Land, buildings, and equipment | $11,079,283 |
| Investments—publicly traded securities | $366,532 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $27,725 |
| Other assets | $902,751 |
| Total assets | $12,708,509 |
| Accounts payable and accrued expenses | $69,767 |
| Grants payable | $0 |
| Deferred revenue | $7,017 |
| 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 | $4,168,241 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $136,883 |
| Total liabilities | $4,381,908 |
| Net assets without donor restrictions | $4,071,642 |
| Net assets with donor restrictions | $4,254,959 |
| 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 | $12,708,509 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bath Housing Development Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
John T Gorman Foundation Portland, ME PURPOSE: TO SUPPORT THE COMFORTABLY HOME PROGRAM | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Avesta Housing Management Corporation Portland, ME | $3,765,380 | $8,258,375 |
State Street Housing Preservation Corporation Portland, ME | $24,631,700 | $3,259,892 |
Monadnock Affordable Housing Corporation Keene, NH | $28,241,880 | $6,742,174 |
Affordable Housing Education And Development Inc Littleton, NH | $9,970,385 | $3,045,198 |
Bartlett Woods Inc Rockland, ME | $6,101,412 | $2,284,525 |
Housing Foundation Orono, ME | $3,133,048 | $2,829,758 |
Manchester Neighborhood Housing Services Inc Manchester, NH | $9,007,199 | $1,551,770 |
Laconia Area Community Land Trust Laconia, NH | $15,899,939 | $3,154,056 |
Bath Housing Development Corporation Bath, ME | $12,708,509 | $6,289,688 |
Housing Foundation Phase 1 & 2 Orono, ME | $5,226,993 | $1,967,341 |
Habitat For Humanity Of Greater Portland Inc Portland, ME | $4,759,457 | $2,582,640 |
Community Concepts Finance Corp Lewiston, ME | $13,201,299 | $1,637,763 |