Berry Park Housing Corporation
- Assets
- $4.4m
- Revenue
- $939.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 06/1993
- Data as of
- 12/2021
- EIN
- 22-3241663
Organization Overview
Berry Park Housing Corporation is located in Portland, ME. The organization was established in 1993. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Berry Park Housing 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, Berry Park Housing Corporation generated $939.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $766.4k during the year ending 12/2021. While expenses have increased by 5.0% 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
PROVIDE LOW-INCOME HOUSING TO QUALIFIED TENANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWN AND OPERATE 50 UNIT ELDERLY APARTMENT COMPLEX IN KITTERY, MAINE.
THE ORGANIZATION SUPPORTS DEVELOPMENT OF LOW-INCOME HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Totman President | Officer | 5 | $0 |
Rebecca Hatfield VP Of Real Estate | Officer | 5 | $0 |
Eric Boucher Chief Financial Officer | Officer | 5 | $0 |
Kim Farrar VP Of Strategic Initiative | Officer | 5 | $0 |
Katy Smith VP Of Senior Living | Officer | 5 | $0 |
Janice DE Lima Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $503,614 |
| 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 | $503,614 |
| Total Program Service Revenue | $232,078 |
| Investment income | $45,247 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $158,784 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $939,723 |
| 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 | $40,200 |
| Fees for services: Legal | $2,058 |
| Fees for services: Accounting | $6,100 |
| 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 | $6,315 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $152,872 |
| Payments to affiliates | $234,676 |
| Depreciation, depletion, and amortization | $58,839 |
| Insurance | $13,554 |
| All other expenses | $23,511 |
| Total functional expenses | $766,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,476 |
| Savings and temporary cash investments | $128,585 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,851 |
| 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 | $10,763 |
| Net Land, buildings, and equipment | $1,340,235 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,625,745 |
| Total assets | $4,394,655 |
| Accounts payable and accrued expenses | $26,387 |
| Grants payable | $0 |
| Deferred revenue | $2,650 |
| 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 | $3,399,095 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $526,243 |
| Total liabilities | $3,954,375 |
| Net assets without donor restrictions | $0 |
| 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 | $440,280 |
| Total liabilities and net assets/fund balances | $4,394,655 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harbor Homes Inc Nashua, NH | $29,802,318 | $34,009,669 |
Coastal Enterprises Inc Brunswick, ME | $100,877,671 | $43,453,136 |
New Communities Inc Westbrook, ME | $21,168,953 | $23,774,102 |
Avesta Housing Development Corporation Portland, ME | $69,411,595 | $13,114,873 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Housing Benefits Manchester, NH | $19,848,686 | $2,975,053 |
Community Housing Of Maine Inc Portland, ME | $35,247,004 | $3,832,747 |
Village Square Housing Corporation Portland, ME | $5,696,859 | $2,944,780 |
Diocesan Bureau Of Housing Deering Pavilion Portland, ME | $10,086,881 | $2,452,298 |
United States Catholic Conference Portland, ME | $5,797,365 | $1,499,768 |
Rural Housing For The Elderly Manchester, NH | $3,090,190 | $1,063,291 |
Berry Park Housing Corporation Portland, ME | $4,394,655 | $939,723 |