Civic Intelligence

Mattawamkeag Housing Corporation

EIN 01-0353284 • 501(c)3 • Bangor, ME

Profile

To operate a low income housing complex providing decent, safe, and sanitary housing to qualified elderly residents.

4 Union Plaza Box 9Bangor, ME 04401
Siviq Scores

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

Liabilities / Assets

97th percentile

1.68x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

4.09x

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

54th percentile

6.1%

Higher net margin than 54% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

49th percentile

2.6%

Faster asset growth than 49% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

54th percentile

9.1%

Faster revenue growth than 54% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$520,970

Up $13,393 (+2.6%) from 2023

Liabilities

Up

$874,220

Up $260 (+0.0%) from 2023

Net Assets

Up

-$353,250

Up $13,133 (+3.6%) from 2023

Revenue

Up

$214,000

Up $17,794 (+9.1%) from 2023

Expenses

Down

$200,867

Down $5,142 (-2.5%) from 2023

Net Income

Up

$13,133

Up $22,936 (+234%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2010: $718,056Liabilities 2010: $880,190Net Assets 2010: -$162,1342010Assets 2011: $623,504Liabilities 2011: $819,780Net Assets 2011: -$196,2762011Assets 2012: $594,389Liabilities 2012: $826,293Net Assets 2012: -$231,9042012Assets 2013: $592,151Liabilities 2013: $838,921Net Assets 2013: -$246,7702013Assets 2014: $593,743Liabilities 2014: $838,623Net Assets 2014: -$244,8802014Assets 2015: $586,883Liabilities 2015: $844,141Net Assets 2015: -$257,2582015Assets 2016: $580,817Liabilities 2016: $847,987Net Assets 2016: -$267,1702016Assets 2017: $578,946Liabilities 2017: $854,466Net Assets 2017: -$275,5202017Assets 2018: $569,985Liabilities 2018: $862,315Net Assets 2018: -$292,3302018Assets 2019: $568,183Liabilities 2019: $868,205Net Assets 2019: -$300,0222019Assets 2020: $545,656Liabilities 2020: $869,951Net Assets 2020: -$324,2952020Assets 2021: $527,877Liabilities 2021: $866,549Net Assets 2021: -$338,6722021Assets 2022: $521,106Liabilities 2022: $877,686Net Assets 2022: -$356,5802022Assets 2023: $507,577Liabilities 2023: $873,960Net Assets 2023: -$366,3832023Assets 2024: $520,970Liabilities 2024: $874,220Net Assets 2024: -$353,2502024

Highlighted filing

2024

Assets$520,970
Liabilities$874,220
Net Assets-$353,250

Operations Trend

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

$300K$200K$100K$0-$100KExpenses 2010: $142,6762010Revenue 2011: $145,199Expenses 2011: $179,341Net Income 2011: -$34,1422011Expenses 2012: $188,2752012Revenue 2013: $150,902Expenses 2013: $165,768Net Income 2013: -$14,8662013Revenue 2014: $160,047Expenses 2014: $158,157Net Income 2014: $1,8902014Revenue 2015: $157,672Expenses 2015: $170,050Net Income 2015: -$12,3782015Revenue 2016: $156,224Expenses 2016: $166,136Net Income 2016: -$9,9122016Revenue 2017: $157,526Expenses 2017: $165,876Net Income 2017: -$8,3502017Revenue 2018: $164,131Expenses 2018: $180,941Net Income 2018: -$16,8102018Revenue 2019: $168,892Expenses 2019: $176,584Net Income 2019: -$7,6922019Revenue 2020: $160,715Expenses 2020: $184,988Net Income 2020: -$24,2732020Revenue 2021: $171,156Expenses 2021: $185,533Net Income 2021: -$14,3772021Revenue 2022: $174,828Expenses 2022: $192,736Net Income 2022: -$17,9082022Revenue 2023: $196,206Expenses 2023: $206,009Net Income 2023: -$9,8032023Revenue 2024: $214,000Expenses 2024: $200,867Net Income 2024: $13,1332024

Highlighted filing

2024

Revenue$214,000
Expenses$200,867
Net Income$13,133

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.21$8.74$3.53$2.14$2.01$0.13
2023Detailed filing. Detailed filing data is available for this year.$5.08$8.74$3.66$1.96$2.06$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.21$8.78$3.57$1.75$1.93$0.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.28$8.67$3.39$1.71$1.86$0.14
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.46$8.70$3.24$1.61$1.85$0.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.68$8.68$3.00$1.69$1.77$0.08
2018Detailed filing. Detailed filing data is available for this year.$5.70$8.62$2.92$1.64$1.81$0.17
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.79$8.54$2.76$1.58$1.66$0.08
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.81$8.48$2.67$1.56$1.66$0.10
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.87$8.44$2.57$1.58$1.70$0.12
2014Detailed filing. Detailed filing data is available for this year.$5.94$8.39$2.45$1.60$1.58$0.02
2013Detailed filing. Detailed filing data is available for this year.$5.92$8.39$2.47$1.51$1.66$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.94$8.26$2.32$1.88
2011Summary only. Only limited summary data is available for this year.$6.24$8.20$1.96$1.45$1.79$0.34
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.18$8.80$1.62$1.43
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
Aug 12, 2024
Return Version
2023v5.0
Gross Receipts
$196,206
Mission and Program Overview

Mission

To operate a low income housing complex providing decent, safe, and sanitary housing to qualified elderly residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$414,784$396,356▼ $18,428
Savings and Temporary Cash Investments$90,545$88,296▼ $2,249
Prepaid Expenses and Deferred Charges$12,077$14,853▲ $2,776
Cash and Non-Interest-Bearing Accounts$2,384$6,880▲ $4,496
Intangible Assets$735$630▼ $105
Accounts Receivable$581$562▼ $19
Total Assets$521,106$507,577▼ $13,529
Liabilities
Mortgage Notes Payable Secured by Investment Property$760,509$756,584▼ $3,925
Other Liabilities$102,067$109,142▲ $7,075
Accounts Payable and Accrued Expenses$15,110$8,234▼ $6,876
Total Liabilities$877,686$873,960▼ $3,726
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-356,580$-366,383▼ $9,803
Total Net Assets Fund Balance$-356,580$-366,383▼ $9,803
Total Liabilities and Net Assets / Fund Balance$521,106$507,577▼ $13,529

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$377,856$1,173,641$1,551,497
Land$18,500-$18,500
Compensation and Service Providers

Board Members and Trustees

NameTitle
Russell StanleyPresident
Angela StanleyDirector
Jon PelkeyDirector
Kim PelkeySecretary
David CustVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$196,156
Investment Income
$50
Other Revenue
$0
Change in Net Assets
$-9,803

Audited Revenue Reconciliation

Revenue per Audited Statements
$196,206
Total Revenue per Audited Statements
$196,206
Total Revenue per Form 990
$196,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,009
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$102,574$720-$103,294
Interest$34,891--$34,891
Depreciation Depletion$27,455--$27,455
Fees for Services Management$16,443$5,481-$21,924
Fees for Services Accounting-$6,400-$6,400
Other Expenses$24--$24
Total Functional Expenses$193,408$12,601$0$206,009

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$206,009
Total Expenses per Audited Statements$206,009
Total Expenses per Form 990$206,009
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Expenses$97,450
Security Deposits$11,634
Prepaid Rent$58
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Russell stanley angela stanley president director spouse kim pelkey jon pelkey secretary director spouse

Form 990, Page 6, Part VI, Line 3

Management services are contracted with an outside unrelated property management company.

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 and management agent for review and approval before the return is electronically signed.

Form 990, Page 6, Part VI, Line 19

The governing documents are maintained at the management agent's office and are available upon request made to the management agent.

Filing and Contact Details

Filer

Filer Name
Mattawamkeag Housing Corporation
EIN
01-0353284
Phone
2079902099
Address
4 UNION PLAZA BOX 9, BANGOR, ME 04401

Signing Officer

Name
Russell Stanley
Title
President
Phone
2079902099
Signed
2024-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Russell Stanley
Formed
1980
Legal Domicile
Me
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Bbsc Cpas
Address
38 PARKWAY S, BREWER, ME 04412
Preparer
Michael P Jones CPA
Phone
2079418890
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Income taxes the organization is a not for profit corporation recognized by the internal revenue service under section 501(c)(3) of the code. Accordingly, no provision for income tax has been recorded in the accompanying financial statements. The organization did not have any unrelated business income for the years ended december 31, 2023 and 2022. The organization's income tax filings are subject to audit by various taxing authorities. Any interest or penalties assessed to the organization are recorded in operating expenses. For the years ended december 31, 2023 and 2022, there were no interest or penalties recorded in the accompanying financial statements.

Raw XML Appendix347 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES THE ORGANIZATION IS A NOT FOR PROFIT CORPORATION RECOGNIZED BY THE INTERNAL REVENUE SERVICE UNDER SECTION 501(C)(3) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAX HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. THE ORGANIZATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, THERE WERE NO INTEREST OR PENALTIES RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RUSSELL STANLEY ANGELA STANLEY PRESIDENT DIRECTOR SPOUSE KIM PELKEY JON PELKEY SECRETARY DIRECTOR SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT SERVICES ARE CONTRACTED WITH AN OUTSIDE UNRELATED PROPERTY MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NEW MEMBERS OF THE BOARD ARE ELECTED BY THE CURRENT BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE RETURN IS PROVIDED TO THE PRESIDENT AND MANAGEMENT AGENT FOR REVIEW AND APPROVAL BEFORE THE RETURN IS ELECTRONICALLY SIGNED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS ARE MAINTAINED AT THE MANAGEMENT AGENT'S OFFICE AND ARE AVAILABLE UPON REQUEST MADE TO THE MANAGEMENT AGENT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-366383
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0516 S CHESTER ROAD
IRS990/USAddress/CityNm0CHESTER
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004457
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RUSSELL STANLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02079902099
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MATTAWAMKEAG HOUSING CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0MATT
ReturnHeader/Filer/EIN0010353284
ReturnHeader/Filer/PhoneNum02079902099
ReturnHeader/Filer/USAddress/AddressLine1Txt04 UNION PLAZA BOX 9
ReturnHeader/Filer/USAddress/CityNm0BANGOR
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
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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/PreparationDt02024-08-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL P JONES CPA
ReturnHeader/ReturnTs02024-08-12T15:16:56-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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