Civic Intelligence

Guilford Development Corporation

EIN 01-0282197 • 501(c)4 • Guilford, ME

Profile

To provide safe affordable housing for low to moderate income seniors or disabled people.

99 Riverbend DriveGuilford, ME 04443
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

98th percentile

1.92x

Higher debt load relative to assets than 98% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

3.50x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Net Margin

34th percentile

-0.6%

Higher net margin than 34% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Asset Growth

22nd percentile

-5.9%

Faster asset growth than 22% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

33rd percentile

-1.7%

Faster revenue growth than 33% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$571,007

Down $35,928 (-5.9%) from 2023

Liabilities

Down

$1,096,373

Down $34,152 (-3.0%) from 2023

Net Assets

Down

-$525,366

Down $1,776 (-0.3%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin34th percentile

Revenue

Down

$313,077

Down $5,551 (-1.7%) from 2023

Expenses

Down

$314,853

Down $12,331 (-3.8%) from 2023

Net Income

Up

-$1,776

Up $6,780 (+79%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth22nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.0M$0-$1.0MAssets 2011: $944,428Liabilities 2011: $1,482,035Net Assets 2011: -$537,6072011Assets 2012: $926,943Liabilities 2012: $1,459,975Net Assets 2012: -$533,0322012Assets 2013: $907,628Liabilities 2013: $1,439,227Net Assets 2013: -$531,5992013Assets 2014: $877,091Liabilities 2014: $1,416,231Net Assets 2014: -$539,1402014Assets 2015: $863,662Liabilities 2015: $1,390,976Net Assets 2015: -$527,3142015Assets 2016: $857,917Liabilities 2016: $1,361,743Net Assets 2016: -$503,8262016Assets 2017: $839,051Liabilities 2017: $1,330,359Net Assets 2017: -$491,3082017Assets 2018: $809,565Liabilities 2018: $1,297,864Net Assets 2018: -$488,2992018Assets 2019: $772,093Liabilities 2019: $1,261,479Net Assets 2019: -$489,3862019Assets 2020: $721,714Liabilities 2020: $1,234,879Net Assets 2020: -$513,1652020Assets 2021: $673,668Liabilities 2021: $1,190,903Net Assets 2021: -$517,2352021Assets 2022: $647,797Liabilities 2022: $1,162,831Net Assets 2022: -$515,0342022Assets 2023: $606,935Liabilities 2023: $1,130,525Net Assets 2023: -$523,5902023Assets 2024: $571,007Liabilities 2024: $1,096,373Net Assets 2024: -$525,3662024

Highlighted filing

2024

Assets$571,007
Liabilities$1,096,373
Net Assets-$525,366
Open 2024 Filing

Operations Trend

Revenue Growth33rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$300K$200K$100K$0-$100KExpenses 2011: $342,4542011Revenue 2012: $335,234Expenses 2012: $330,659Net Income 2012: $4,5752012Revenue 2013: $333,438Expenses 2013: $332,005Net Income 2013: $1,4332013Revenue 2014: $334,757Expenses 2014: $342,298Net Income 2014: -$7,5412014Revenue 2015: $347,749Expenses 2015: $335,923Net Income 2015: $11,8262015Revenue 2016: $342,259Expenses 2016: $318,771Net Income 2016: $23,4882016Revenue 2017: $342,354Expenses 2017: $329,836Net Income 2017: $12,5182017Revenue 2018: $345,209Expenses 2018: $342,200Net Income 2018: $3,0092018Revenue 2019: $345,789Expenses 2019: $346,876Net Income 2019: -$1,0872019Revenue 2020: $337,896Expenses 2020: $353,766Net Income 2020: -$15,8702020Revenue 2021: $333,921Expenses 2021: $337,991Net Income 2021: -$4,0702021Revenue 2022: $332,939Expenses 2022: $330,738Net Income 2022: $2,2012022Revenue 2023: $318,628Expenses 2023: $327,184Net Income 2023: -$8,5562023Revenue 2024: $313,077Expenses 2024: $314,853Net Income 2024: -$1,7762024

Highlighted filing

2024

Revenue$313,077
Expenses$314,853
Net Income-$1,776
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$571,007
Liabilities
$1,096,373
Net assets
-$525,366
Revenue
$313,077
Expenses
$314,853
Net income
-$1,776
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$1.10$0.53$0.31$0.31$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.61$1.13$0.52$0.32$0.33$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.65$1.16$0.52$0.33$0.33$0.00
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.67$1.19$0.52$0.33$0.34$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.72$1.23$0.51$0.34$0.35$0.02
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$0.77$1.26$0.49$0.35$0.35$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.81$1.30$0.49$0.35$0.34$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.84$1.33$0.49$0.34$0.33$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$1.36$0.50$0.34$0.32$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.86$1.39$0.53$0.35$0.34$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.88$1.42$0.54$0.33$0.34$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.91$1.44$0.53$0.33$0.33$0.00
2012Summary only. Only limited summary data is available for this year.$0.93$1.46$0.53$0.34$0.33$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$1.48$0.54$0.34
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 4, 2024
Return Version
2023v5.0
Gross Receipts
$318,628
Mission and Program Overview

Mission

To provide safe affordable housing for low to moderate income seniors or disabled people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$413,434$412,983▼ $451
Savings and Temporary Cash Investments$222,027$179,086▼ $42,941
Prepaid Expenses and Deferred Charges$11,836$14,366▲ $2,530
Cash and Non-Interest-Bearing Accounts$500$500→ $0
Total Assets$647,797$606,935▼ $40,862
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,131,397$1,099,703▼ $31,694
Other Liabilities$26,712$26,341▼ $371
Accounts Payable and Accrued Expenses$4,722$4,481▼ $241
Total Liabilities$1,162,831$1,130,525▼ $32,306
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-515,034$-523,590▼ $8,556
Total Net Assets Fund Balance$-515,034$-523,590▼ $8,556
Total Liabilities and Net Assets / Fund Balance$647,797$606,935▼ $40,862

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$224,279$1,613,388$1,837,667
Other Land Buildings$184,524$258,140$442,664
Equipment$662$44,827$45,489
Land$3,518-$3,518
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Thomas GoulettePresident
Barbara BrackettDirector
Bradley DeaneDirector
Carol ThomasDirector
Cody SmithDirector
Frank RuksznisDirector
Monica ApplebeeDirector
Thomas DouglassDirector
Carol ReedSecretary
Linda GilbertTreasurer
David LittlefieldVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$309,509
Investment Income
$279
Other Revenue
$8,840
Change in Net Assets
$-8,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$318,628
Total Revenue per Audited Statements
$318,628
Total Revenue per Form 990
$318,628
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$257,882
Salaries, Compensation, and Employee Benefits$69,302
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$88,593--$88,593
Interest$67,147--$67,147
Other Salaries and Wages$55,862$8,241-$64,103
Depreciation Depletion$49,721--$49,721
Insurance$18,415$745-$19,160
Fees for Services Accounting-$6,450-$6,450
Payroll Taxes$4,532$667-$5,199
Office Expenses$4,418--$4,418
Advertising$308--$308
Fees for Services Legal$135--$135
Other Expenses$15$1,721-$15
Total Functional Expenses$309,360$17,824$0$327,184

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$327,184
Total Expenses per Audited Statements$327,184
Total Expenses per Form 990$327,184
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit Asset$13,247
Security Deposit$11,050
Payroll Liabilities$1,739
Accrued Interest$305
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“New members of the board are elected by the current board of directors.”

Form 990, Page 6, Part VI, Line 11B

“A copy of the return is provided to the president for review and approval before the return is electronically filed.”

Form 990, Page 6, Part VI, Line 12C

“The organization is required to report to the usda rural development any identity of interest relationships annually.”

Form 990, Page 6, Part VI, Line 15B

“The board discusses and approves the salary for the manager and caretaker.”

Form 990, Page 6, Part VI, Line 19

“Copies of the tax return and governing documents are located at the managers office on site and are availabe upon request of the manager.”

Filing and Contact Details

Filer

Filer Name
Guilford Development Corporation
EIN
01-0282197
Phone
2078764239
Address
99 RIVERBEND DRIVE, GUILFORD, ME 04443

Signing Officer

Name
Thomas Goulette
Title
President
Phone
2078764239
Signed
2024-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Goulette
Formed
1971
Legal Domicile
Me
Voting Board Members
11
Independent Board Members
11
Employees
2

Preparer

Firm
Bbsc Cpas
Address
38 PARKWAY S, BREWER, ME 04412
Preparer
Michael P Jones CPA
Phone
2079418890
Raw XML Appendix364 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NEW MEMBERS OF THE BOARD ARE ELECTED BY THE CURRENT BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE RETURN IS PROVIDED TO THE PRESIDENT FOR REVIEW AND APPROVAL BEFORE THE RETURN IS ELECTRONICALLY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS REQUIRED TO REPORT TO THE USDA RURAL DEVELOPMENT ANY IDENTITY OF INTEREST RELATIONSHIPS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD DISCUSSES AND APPROVES THE SALARY FOR THE MANAGER AND CARETAKER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPIES OF THE TAX RETURN AND GOVERNING DOCUMENTS ARE LOCATED AT THE MANAGERS OFFICE ON SITE AND ARE AVAILABE UPON REQUEST OF THE MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt039 APPLEBEE HILL RD
IRS990/USAddress/CityNm0GUILFORD
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004443
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS GOULETTE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02078764239
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GUILFORD DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0GUIL
ReturnHeader/Filer/EIN0010282197
ReturnHeader/Filer/PhoneNum02078764239
ReturnHeader/Filer/USAddress/AddressLine1Txt099 RIVERBEND DRIVE
ReturnHeader/Filer/USAddress/CityNm0GUILFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
ReturnHeader/Filer/USAddress/ZIPCd004443
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043389217
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BBSC CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt038 PARKWAY S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BREWER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0ME
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd004412
ReturnHeader/PreparerPersonGrp/PhoneNum02079418890
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL P JONES CPA
ReturnHeader/ReturnTs02024-11-04T11:22:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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