Civic Intelligence

Hermon Elderly Project

990 • Fiscal year 2023 • EIN 01-0367846

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 22, 2024

Organization Profile
4 Union Plaza Box 9Bangor, ME 04401

(207) 990-2099

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

96th percentile

1.47x

Higher debt load relative to assets than 96% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

98th percentile

6.88x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

10th percentile

-35%

Higher net margin than 10% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

23rd percentile

-6.5%

Faster asset growth than 23% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

41st percentile

2.2%

Faster revenue growth than 41% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$785,942

Down $54,836 (-6.5%) from 2022

Net Assets

Down

-$369,251

Down $58,997 (-19%) from 2022

Liabilities

Up

$1,155,193

Up $4,161 (+0.4%) from 2022

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin10th percentile

Revenue

Up

$167,890

Up $3,682 (+2.2%) from 2022

Expenses

Up

$226,887

Up $16,672 (+7.9%) from 2022

Net Income

Down

-$58,997

Down $12,990 (-28%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2010: $718,464Liabilities 2010: $592,580Net Assets 2010: $125,8842010Assets 2011: $723,745Liabilities 2011: $593,362Net Assets 2011: $130,3832011Assets 2012: $723,008Liabilities 2012: $599,404Net Assets 2012: $123,6042012Assets 2013: $722,056Liabilities 2013: $607,397Net Assets 2013: $114,6592013Assets 2014: $688,564Liabilities 2014: $606,077Net Assets 2014: $82,4872014Assets 2015: $661,973Liabilities 2015: $607,947Net Assets 2015: $54,0262015Assets 2016: $1,144,553Liabilities 2016: $1,122,047Net Assets 2016: $22,5062016Assets 2017: $1,087,641Liabilities 2017: $1,126,123Net Assets 2017: -$38,4822017Assets 2018: $1,033,427Liabilities 2018: $1,134,116Net Assets 2018: -$100,6892018Assets 2019: $983,903Liabilities 2019: $1,138,918Net Assets 2019: -$155,0152019Assets 2020: $935,221Liabilities 2020: $1,147,409Net Assets 2020: -$212,1882020Assets 2021: $883,615Liabilities 2021: $1,147,862Net Assets 2021: -$264,2472021Assets 2022: $840,778Liabilities 2022: $1,151,032Net Assets 2022: -$310,2542022Assets 2023: $785,942Liabilities 2023: $1,155,193Net Assets 2023: -$369,2512023Assets 2024: $750,911Liabilities 2024: $1,156,764Net Assets 2024: -$405,8532024

Highlighted filing

2023

Assets$785,942
Liabilities$1,155,193
Net Assets-$369,251
Open 2023 Filing

Operations Trend

Revenue Growth41st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KExpenses 2010: $187,9032010Expenses 2011: $186,5012011Revenue 2012: $188,756Expenses 2012: $195,535Net Income 2012: -$6,7792012Revenue 2013: $195,110Expenses 2013: $204,055Net Income 2013: -$8,9452013Revenue 2014: $135,541Expenses 2014: $155,959Net Income 2014: -$20,4182014Revenue 2015: $133,340Expenses 2015: $161,801Net Income 2015: -$28,4612015Revenue 2016: $156,093Expenses 2016: $187,613Net Income 2016: -$31,5202016Revenue 2017: $142,883Expenses 2017: $203,871Net Income 2017: -$60,9882017Revenue 2018: $143,138Expenses 2018: $205,345Net Income 2018: -$62,2072018Revenue 2019: $147,086Expenses 2019: $201,412Net Income 2019: -$54,3262019Revenue 2020: $151,490Expenses 2020: $208,663Net Income 2020: -$57,1732020Revenue 2021: $158,155Expenses 2021: $210,214Net Income 2021: -$52,0592021Revenue 2022: $164,208Expenses 2022: $210,215Net Income 2022: -$46,0072022Revenue 2023: $167,890Expenses 2023: $226,887Net Income 2023: -$58,9972023Revenue 2024: $171,162Expenses 2024: $207,764Net Income 2024: -$36,6022024

Highlighted filing

2023

Revenue$167,890
Expenses$226,887
Net Income-$58,997
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 22, 2024
Return Version
2023v5.0
Gross Receipts
$167,890
Mission and Program Overview

Mission

To provide subsidized and low cost housing units to the elderly and poor in the greater bangor, maine area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$681,597$639,927▼ $41,670
Savings and Temporary Cash Investments$135,883$126,265▼ $9,618
Prepaid Expenses and Deferred Charges$8,009$9,432▲ $1,423
Cash and Non-Interest-Bearing Accounts$13,619$8,223▼ $5,396
Intangible Assets$1,624$1,577▼ $47
Accounts Receivable$46$518▲ $472
Total Assets$840,778$785,942▼ $54,836
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,054,372$1,049,130▼ $5,242
Other Liabilities$91,983$100,027▲ $8,044
Accounts Payable and Accrued Expenses$4,677$6,036▲ $1,359
Total Liabilities$1,151,032$1,155,193▲ $4,161
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-310,254$-369,251▼ $58,997
Total Net Assets Fund Balance$-310,254$-369,251▼ $58,997
Total Liabilities and Net Assets / Fund Balance$840,778$785,942▼ $54,836

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$592,427$1,265,080$1,857,507
Land$47,500-$47,500
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Danny CliffPresident
Jeff ByersDirector
John SnyerDirector
Ruth PlourdeDirector
Sharon NickersonDirector
Steven ClarkDirector
Tim SchoppeDirector
Dale PorterSecretary
Kristine SelleckVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$165,367
Investment Income
$79
Other Revenue
$2,444
Change in Net Assets
$-58,997

Audited Revenue Reconciliation

Revenue per Audited Statements
$167,890
Total Revenue per Audited Statements
$167,890
Total Revenue per Form 990
$167,890
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$226,887
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$88,082$675-$88,757
Depreciation Depletion$53,599--$53,599
Interest$33,125--$33,125
Fees for Services Management$17,220$5,740-$22,960
Other Expenses$11,000--$11,000
Insurance$10,491--$10,491
Fees for Services Accounting-$6,400-$6,400
Office Expenses$555--$555
Total Functional Expenses$214,072$12,815$0$226,887

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$226,887
Total Expenses per Audited Statements$226,887
Total Expenses per Form 990$226,887
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 Interest Expense$83,880
Security Deposit Reserve$10,378
Accrued Property Taxes$5,500
Unearned Rent$269
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 3

“Management duties are performed by an outside unrelated property management company.”

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

“A copy of the return is given to the president and management agent for review and signature before being electronically filed.”

Form 990, Page 6, Part VI, Line 19

“Available upon request from management.”

Filing and Contact Details

Filer

Filer Name
Hermon Elderly Project
EIN
01-0367846
Phone
2079902099
Address
4 UNION PLAZA BOX 9, BANGOR, ME 04401
Doing Business As
Boulier Place Apartments

Signing Officer

Name
Danny Cliff
Title
President
Phone
2079902099
Signed
2024-09-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danny Cliff
Formed
1983
Legal Domicile
Me
Voting Board Members
9
Independent Board Members
9
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 Appendix374 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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0148166
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SECURITY DEPOSIT RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED PROPERTY TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3UNEARNED RENT
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0226887
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IRS990ScheduleD/TotalRevenuePerForm990Amt0167890
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0167890
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT DUTIES ARE PERFORMED BY AN OUTSIDE UNRELATED PROPERTY MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE RETURN IS GIVEN TO THE PRESIDENT AND MANAGEMENT AGENT FOR REVIEW AND SIGNATURE BEFORE BEING ELECTRONICALLY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST FROM MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt0785942
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012815
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0214072
IRS990/TotalFunctionalExpensesGrp/TotalAmt0226887
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt01155193
IRS990/TotalLiabilitiesGrp/BOYAmt01151032
IRS990/TotalLiabilitiesGrp/EOYAmt01155193
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-369251
IRS990/TotalProgramServiceExpensesAmt0214072
IRS990/TotalProgramServiceRevenueAmt0165367
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0797 BLACK STREAM ROAD
IRS990/USAddress/CityNm0BANGOR
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004401
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DANNY CLIFF
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02079902099
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HERMON ELDERLY PROJECT
ReturnHeader/Filer/BusinessNameControlTxt0HERM
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ReturnHeader/Filer/PhoneNum02079902099
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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/PreparationDt02024-09-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL P JONES CPA
ReturnHeader/ReturnTs02024-09-23T09:13:41-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$785,942
Liabilities
$1,155,193
Net assets
-$369,251
Revenue
$167,890
Expenses
$226,887
Net income
-$58,997
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.75$1.16$0.41$0.17$0.21$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.79$1.16$0.37$0.17$0.23$0.06
2022Detailed filing. Detailed filing data is available for this year.$0.84$1.15$0.31$0.16$0.21$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.88$1.15$0.26$0.16$0.21$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.94$1.15$0.21$0.15$0.21$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.98$1.14$0.16$0.15$0.20$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.03$1.13$0.10$0.14$0.21$0.06
2017Detailed filing. Detailed filing data is available for this year.$1.09$1.13$0.04$0.14$0.20$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.14$1.12$0.02$0.16$0.19$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.66$0.61$0.05$0.13$0.16$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.69$0.61$0.08$0.14$0.16$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.72$0.61$0.11$0.20$0.20$0.01
2012Summary only. Only limited summary data is available for this year.$0.72$0.60$0.12$0.19$0.20$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.59$0.13$0.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.59$0.13$0.19