Civic Intelligence

Amoskeag Residences Inc

EIN 02-0366119 • 501(c)3 • Manchester, NH

Profile

To provide elderly and handicapped persons in the community with housing facilities and services specifically designed to meet their physical, social and psychological needs.

401 Cypress StreetManchester, NH 03103

n/A

Siviq Scores

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

Liabilities / Assets

86th percentile

0.33x

Higher debt load relative to assets than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

93rd percentile

0.62x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

50th percentile

1.5%

Higher net margin than 50% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

81st percentile

28%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$325,868

Down $88,809 (-21%) from 2023

Liabilities

Down

$42,678

Down $94,193 (-69%) from 2023

Net Assets

Up

$283,190

Up $5,384 (+1.9%) from 2023

Revenue

Down

$211,636

Down $9,983 (-4.5%) from 2023

Expenses

Down

$206,252

Down $12,034 (-5.5%) from 2023

Net Income

Up

$5,384

Up $2,051 (+62%) from 2023

Trend Graphs

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2012: $321,046Liabilities 2012: $184,5582012Assets 2013: $325,824Liabilities 2013: $170,279Net Assets 2013: $155,5452013Assets 2014: $329,962Liabilities 2014: $147,684Net Assets 2014: $182,2782014Assets 2015: $351,559Liabilities 2015: $134,733Net Assets 2015: $216,8262015Assets 2016: $358,870Liabilities 2016: $124,644Net Assets 2016: $234,2262016Assets 2017: $379,051Liabilities 2017: $130,763Net Assets 2017: $248,2882017Assets 2018: $389,333Liabilities 2018: $122,414Net Assets 2018: $266,9192018Assets 2019: $310,672Liabilities 2019: $94,469Net Assets 2019: $216,2032019Assets 2020: $358,386Liabilities 2020: $107,244Net Assets 2020: $251,1422020Assets 2021: $344,292Liabilities 2021: $62,871Net Assets 2021: $281,4212021Assets 2022: $324,342Liabilities 2022: $49,869Net Assets 2022: $274,4732022Assets 2023: $414,677Liabilities 2023: $136,871Net Assets 2023: $277,8062023Assets 2024: $325,868Liabilities 2024: $42,678Net Assets 2024: $283,1902024

Highlighted filing

2024

Assets$325,868
Liabilities$42,678
Net Assets$283,190

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2012: $182,812Expenses 2012: $160,149Net Income 2012: $22,6632012Revenue 2013: $189,821Expenses 2013: $170,764Net Income 2013: $19,0572013Revenue 2014: $184,851Expenses 2014: $158,118Net Income 2014: $26,7332014Revenue 2015: $197,955Expenses 2015: $163,408Net Income 2015: $34,5472015Revenue 2016: $186,918Expenses 2016: $169,517Net Income 2016: $17,4012016Revenue 2017: $186,627Expenses 2017: $172,565Net Income 2017: $14,0622017Revenue 2018: $191,663Expenses 2018: $173,032Net Income 2018: $18,6312018Revenue 2019: $203,709Expenses 2019: $254,425Net Income 2019: -$50,7162019Revenue 2020: $221,214Expenses 2020: $186,275Net Income 2020: $34,9392020Revenue 2021: $201,720Expenses 2021: $171,441Net Income 2021: $30,2792021Revenue 2022: $184,566Expenses 2022: $191,514Net Income 2022: -$6,9482022Revenue 2023: $221,619Expenses 2023: $218,286Net Income 2023: $3,3332023Revenue 2024: $211,636Expenses 2024: $206,252Net Income 2024: $5,3842024

Highlighted filing

2024

Revenue$211,636
Expenses$206,252
Net Income$5,384

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.26$0.43$2.83$2.12$2.06$0.05
2023Detailed filing. Detailed filing data is available for this year.$4.15$1.37$2.78$2.22$2.18$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.24$0.50$2.74$1.85$1.92$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.44$0.63$2.81$2.02$1.71$0.30
2020Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.58$1.07$2.51$2.21$1.86$0.35
2019Detailed filing. Detailed filing data is available for this year.$3.11$0.94$2.16$2.04$2.54$0.51
2018Detailed filing. Detailed filing data is available for this year.$3.89$1.22$2.67$1.92$1.73$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.79$1.31$2.48$1.87$1.73$0.14
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.59$1.25$2.34$1.87$1.70$0.17
2015Detailed filing. Detailed filing data is available for this year.$3.52$1.35$2.17$1.98$1.63$0.35
2014Detailed filing. Detailed filing data is available for this year.$3.30$1.48$1.82$1.85$1.58$0.27
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.26$1.70$1.56$1.90$1.71$0.19
2012Summary only. Only limited summary data is available for this year.$3.21$1.85$1.83$1.60$0.23
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 26, 2025
Return Version
2023v6.0
Gross Receipts
$211,636
Mission and Program Overview

Mission

To provide elderly and handicapped persons in the community with housing facilities and services specifically designed to meet their physical, social and psychological needs.

To provide elderly and handicapped persons in the community with housing facilities and services specifically designed to meet their physical, social, and psychological needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$184,740$194,584▲ $9,844
Cash and Non-Interest-Bearing Accounts$229,918$131,284▼ $98,634
Prepaid Expenses and Deferred Charges$19$0▼ $19
Total Assets$414,677$325,868▼ $88,809
Liabilities
Other Liabilities$102,664$22,358▼ $80,306
Mortgage Notes Payable Secured by Investment Property$29,524$15,637▼ $13,887
Accounts Payable and Accrued Expenses$4,683$4,683→ $0
Total Liabilities$136,871$42,678▼ $94,193
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$277,806$283,190▲ $5,384
Total Net Assets Fund Balance$277,806$283,190▲ $5,384
Total Liabilities and Net Assets / Fund Balance$414,677$325,868▼ $88,809

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$141,963$486,652$628,615
Equipment$45,301$155,290$200,591
Land$7,320-$7,320
Compensation and Service Providers

Employees

NameTitleOtherTotal
Timothy LarochelleBoard Member$110,112$110,112
Diane DistasoBoard Member$107,725$107,725
Dawn ThomasBoard Member$99,157$99,157
David SponenbergTreasurer/CFO (start 12/2023)$10,024$10,024

Board Members and Trustees

NameTitle
Richard CornellPresident & Chair
Jonathan RouthierVice President/COO
Steve ZarseBoard Member
Patricia CartyBoard Member/CEO
Paul MichaudTreasurer/CFO (end 11/2023)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$211,593
Investment Income
$43
Other Revenue
$0
Change in Net Assets
$5,384

Audited Revenue Reconciliation

Revenue per Audited Statements
$211,636
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$211,636
Total Revenue per Form 990
$211,636
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,252
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
Fees for Services Other$45,231$10,613-$55,844
Occupancy$32,240--$32,240
Other Expenses$30,554--$30,554
Fees for Services Management-$18,840-$18,840
Depreciation Depletion$8,915--$8,915
Office Expenses$7,830--$7,830
Insurance$5,508--$5,508
Interest$772--$772
Total Functional Expenses$176,799$29,453$0$206,252

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$206,252
Total Expenses per Audited Statements$206,252
Total Expenses per Form 990$206,252
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to affiliate$20,000
Tenant Security Deposits$2,358
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 7A

The members of the board of directors for Amoskeag Residences are elected by the board of directors of the Greater Manchester Mental Health Center, a related tax-exempt organization.

Form 990, Part VI, Section B, line 11B

The Form 990 is reviewed and approved by the Accounting Director, CFO and Finance Committee of the Board of Directors for the Mental Health Center of Greater Manchester, a related organization. A copy of the 990 is made available to the Board prior to filing.

Form 990, Part VI, Section B, line 12C

The parties involved in any potential conflicts of interest are required to sign conflict acknowledgement forms. The Board is advised on any situation that may yield a conflict of interest, and votes to approve of the appropriate course of action. Conflict notices are posted in the Foundation Newspaper for public acknowledgement. Any potential conflicts are shared with the Attorney General as required.

Form 990, Part VI, Section B, line 15

The review of the compensation package for the Organization's CEO is conducted by its affiliate, the Mental Health Center of Greater Manchester (the Center). The Center conducts surveys of other mental health and rehabilitation clinics and centers in New Hampshire to determine how officer-compensation is handled by similar organizations. In addition, consultants specializing in human resources review and compare the pay scale offered at the Mental Health Center of Greater Manchester for its appropriateness. With this information in-hand, the Board Members and senior leadership staff evaluate CEO and executive performance, and the H.R. Committee of the Board reviews and submits a compensation proposal to the full Board of Directors. Finally, the entire Board will evaluate and vote on the proposal to determine executive compensation.

Form 990, Part VI, Section C, line 19

Governing documents are made available to the public upon request.

Form 990, Part VII:

Patricia Carty, Paul Michaud, Jonathan Routhier, Richard Cornell, Diane Distaso, Timothy Larochelle, Dawn Thomas, and Steve Zarse are all compensated by a related organization, the Mental Health Center of Greater Manchester. These individuals are compensated for their services rendered to the Center in their respective roles and positions of leadership and employment, which are as follows: Patricia Carty - President & CEO Paul Michaud - Chief Financial Officer Jonathan Routhier - Chief Operation Officer Richard Cornell - VP for Community Relations Diane Distaso - Clinical Coordinator Timothy Larochelle - Residential Supervisor Dawn Thomas - Coordinator of Community Wellness Services Steve Zarse - VP for Technology & Facilities

Filing and Contact Details

Filer

Filer Name
Amoskeag Residences Inc
EIN
02-0366119
Phone
6036684111
Address
401 Cypress Street, Manchester, NH 03103

Signing Officer

Name
Jonathan Routhier
Title
CFO
Phone
6036684111
Signed
2025-03-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Michaud
Formed
1979
Legal Domicile
Nh
Voting Board Members
8
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Baker Newman & Noyes
Address
PO Box 507, Portland, ME 04112
Preparer
Connor Smart
Phone
2078792100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Third party payroll and labor costs: Program service expenses 45,231. Management and general expenses 10,613. Fundraising expenses 0. Total expenses 55,844.

Form 990, Part XII, Line 2C:

The audit process has not changed from the previous year.

Financial Statement Notes

Part X, Line 2:

The Organization is a not-for-profit entitiy as described in Section 501(c)(3) of the Internal Revenue Code, and is exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. The Organization believes that it has appropriate support for the income tax positions taken and to be taken, and that its accruals for tax liabilities are adequate for all open tax years based on an assessment of many factors including experience and interpretations of tax laws applied to the facts of each matter. Management evaluated the Organization's tax positions and concluded the Organization has maintained its tax-exempt status, does not have any significant unrelated business income, has taken no significant uncertain tax positions that require disclosure in the accompanying consolidated financial statements and has no material liability for unrecognized tax benefits.

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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt023
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01040755
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0155290
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0200591
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt07320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02358
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Deposits
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is a not-for-profit entitiy as described in Section 501(c)(3) of the Internal Revenue Code, and is exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. The Organization believes that it has appropriate support for the income tax positions taken and to be taken, and that its accruals for tax liabilities are adequate for all open tax years based on an assessment of many factors including experience and interpretations of tax laws applied to the facts of each matter. Management evaluated the Organization's tax positions and concluded the Organization has maintained its tax-exempt status, does not have any significant unrelated business income, has taken no significant uncertain tax positions that require disclosure in the accompanying consolidated financial statements and has no material liability for unrecognized tax benefits.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt30
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt40
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt40
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Patricia Carty
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Paul Michaud
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2Jonathan Routhier
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3Richard Cornell
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4Steve Zarse
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Board Member/CEO

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