Civic Intelligence

Portland Housing Development Corporation

990 • Fiscal year 2016 • EIN 22-2527595

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 27, 2017

Organization ProfileN/A
14 Baxter BlvdPortland, ME 04103

(207) 773-4753

Siviq Scores

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

Liabilities / Assets

57th percentile

0.13x

Higher debt load relative to assets than 57% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

68th percentile

0.38x

Higher debt load relative to revenue than 68% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Net Margin

86th percentile

39%

Higher net margin than 86% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

90th percentile

$161,194

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 17.2% of source-year revenue.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Asset Growth

82nd percentile

14%

Faster asset growth than 82% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

99th percentile

859%

Faster revenue growth than 99% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$2,851,150

Up $348,267 (+14%) from 2015

Net Assets

Up

$2,491,190

Up $365,201 (+17%) from 2015

Liabilities

Down

$359,960

Down $16,934 (-4.5%) from 2015

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin86th percentile

Revenue

Up

$939,377

Up $841,443 (+859%) from 2015

Expenses

Up

$574,176

Up $392,931 (+217%) from 2015

Net Income

Up

$365,201

Up $448,512 (+538%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

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

$30M$20M$10M$0Assets 2010: $2,371,371Liabilities 2010: $0Net Assets 2010: $2,371,3712010Assets 2011: $2,381,228Liabilities 2011: $0Net Assets 2011: $2,381,2282011Assets 2012: $2,370,998Liabilities 2012: $0Net Assets 2012: $2,370,9982012Assets 2013: $2,722,301Liabilities 2013: $408,773Net Assets 2013: $2,313,5282013Assets 2014: $2,598,271Liabilities 2014: $388,971Net Assets 2014: $2,209,3002014Assets 2015: $2,502,883Liabilities 2015: $376,894Net Assets 2015: $2,125,9892015Assets 2016: $2,851,150Liabilities 2016: $359,960Net Assets 2016: $2,491,1902016Assets 2017: $2,771,537Liabilities 2017: $343,684Net Assets 2017: $2,427,8532017Assets 2018: $2,823,792Liabilities 2018: $327,344Net Assets 2018: $2,496,4482018Assets 2019: $3,720,777Liabilities 2019: $971,412Net Assets 2019: $2,749,3652019Assets 2020: $4,896,043Liabilities 2020: $960,446Net Assets 2020: $3,935,5972020Assets 2021: $5,328,711Liabilities 2021: $819,990Net Assets 2021: $4,508,7212021Assets 2022: $11,772,178Liabilities 2022: $3,171,188Net Assets 2022: $8,600,9902022Assets 2023: $19,803,061Liabilities 2023: $4,926,852Net Assets 2023: $14,876,2092023Assets 2024: $24,238,614Liabilities 2024: $5,734,320Net Assets 2024: $18,504,2942024

Highlighted filing

2016

Assets$2,851,150
Liabilities$359,960
Net Assets$2,491,190
Open 2016 Filing

Operations Trend

Revenue Growth99th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $9,6332010Expenses 2011: $14,6682011Expenses 2012: $17,2562012Expenses 2013: $152,2082013Revenue 2014: $137,251Expenses 2014: $241,479Net Income 2014: -$104,2282014Revenue 2015: $97,934Expenses 2015: $181,245Net Income 2015: -$83,3112015Revenue 2016: $939,377Expenses 2016: $574,176Net Income 2016: $365,2012016Revenue 2017: $201,669Expenses 2017: $265,006Net Income 2017: -$63,3372017Revenue 2018: $330,021Expenses 2018: $261,426Net Income 2018: $68,5952018Revenue 2019: $752,523Expenses 2019: $499,606Net Income 2019: $252,9172019Revenue 2020: $1,659,937Expenses 2020: $473,705Net Income 2020: $1,186,2322020Revenue 2021: $2,757,076Expenses 2021: $2,183,952Net Income 2021: $573,1242021Revenue 2022: $5,230,784Expenses 2022: $1,138,515Net Income 2022: $4,092,2692022Revenue 2023: $7,402,789Expenses 2023: $1,103,868Net Income 2023: $6,298,9212023Revenue 2024: $5,566,931Expenses 2024: $1,938,846Net Income 2024: $3,628,0852024

Highlighted filing

2016

Revenue$939,377
Expenses$574,176
Net Income$365,201
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 27, 2017
Return Version
2015v3.0
Gross Receipts
$939,377
Mission and Program Overview

Mission

Construction of low income housing, rent supplements and support services

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$694,751$1,680,931▲ $986,180
Land, Buildings, and Equipment, Net$903,275$919,574▲ $16,299
Other Notes and Loans Receivable, Net$901,171$249,490▼ $651,681
Prepaid Expenses and Deferred Charges$3,686--
Accounts Receivable-$1,155-
Total Assets$2,502,883$2,851,150▲ $348,267
Liabilities
Mortgage Notes Payable Secured by Investment Property$367,087$351,894▼ $15,193
Other Liabilities$6,755$8,066▲ $1,311
Accounts Payable and Accrued Expenses$3,052--
Total Liabilities$376,894$359,960▼ $16,934
Net Assets / Fund Balance
Unrestricted Net Assets$2,125,989$2,491,190▲ $365,201
Total Net Assets Fund Balance$2,125,989$2,491,190▲ $365,201
Total Liabilities and Net Assets / Fund Balance$2,502,883$2,851,150▲ $348,267

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$759,574$92,098$851,672
Land$160,000-$160,000
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleOtherTotal
Mark AdelsonPres/treasur$161,194$161,194

Board Members and Trustees

NameTitle
Faith McleanDirector
Mariar BalowDirector
Shirley PetersonDirector
Siyad AhmedDirector
Mark AdelsonPres/treasurer
Christian MilneilVP/sec
Revenue and Support

Revenue Composition

Contributions and Grants
$793,500
Program Service Revenue
$142,010
Investment Income
$267
Other Revenue
$3,600
All Other Contributions
$293,500
Change in Net Assets
$365,201

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Real Estate Residential1$293,500
Total Noncash Contributions1$293,500
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$574,176
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 Management$99,635--$99,635
Depreciation Depletion$23,981--$23,981
Occupancy$16,261--$16,261
Insurance$13,236--$13,236
Interest$12,193--$12,193
Fees for Services Accounting$5,750--$5,750
Fees for Services Legal$4,352--$4,352
Payments to Affiliates$4,000--$4,000
Advertising$436--$436
Other Expenses$403--$403
All Other Expenses$335--$335
Office Expenses$326--$326
Travel$50--$50
Total Functional Expenses$574,176$0$0$574,176
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
Tenant Security Deposits$8,066
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No

Governance Explanations

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

“The board will review the 990 submission annually at its february meeting.”

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

“Disclosures are provided annually.”

Form 990, Page 6, Part VI, Line 19

“Documents provided upon request.”

Filing and Contact Details

Filer

Filer Name
Portland Housing Development
EIN
22-2527595
Phone
2077734753
Address
14 BAXTER BLVD, PORTLAND, ME 04103

Signing Officer

Name
Mark Adelson
Title
Pres/treasurer
Phone
2077734753
Signed
2017-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Adelson
Formed
1983
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
1255 LAKES PKWY STE 375, LAWRENCEVILLE, GA 30043-8909
Preparer
Mary Beth Smith CPA
Phone
7708798411
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD WILL REVIEW THE 990 SUBMISSION ANNUALLY AT ITS FEBRUARY MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DISCLOSURES ARE PROVIDED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS PROVIDED UPON REQUEST.
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PORTLAND HOUSING AUTHORITY (PHA)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1STATE STREET HOUSING PRESERVATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2PORTLAND HOUSING SERVICE CORPORATIO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0016001034
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1223129401
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2271424622
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0ME
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1ME
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2ME
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt17
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt014 BAXTER BOULEVARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt114 BAXTER BOULEVARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt214 BAXTER BOULEVARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PORTLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1PORTLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2PORTLAND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0ME
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1ME
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2ME
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd004101
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd104101
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd204101
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0ME
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02502883
IRS990/TotalAssetsEOYAmt02851150
IRS990/TotalAssetsGrp/BOYAmt02502883
IRS990/TotalAssetsGrp/EOYAmt02851150
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0793500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0574176
IRS990/TotalFunctionalExpensesGrp/TotalAmt0574176
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0376894
IRS990/TotalLiabilitiesEOYAmt0359960
IRS990/TotalLiabilitiesGrp/BOYAmt0376894
IRS990/TotalLiabilitiesGrp/EOYAmt0359960
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02125989
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02491190
IRS990/TotalOtherCompensationAmt037129
IRS990/TotalProgramServiceExpensesAmt0574176
IRS990/TotalProgramServiceRevenueAmt0142010
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0145877
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0939377
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02502883
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02851150
IRS990/TotReportableCompRltdOrgAmt0124065
IRS990/TravelGrp/ProgramServicesAmt050
IRS990/TravelGrp/TotalAmt050
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02125989
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02491190
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt014 BAXTER BLVD
IRS990/USAddress/CityNm0PORTLAND
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004103
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK ADELSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRES/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02077734753
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PORTLAND HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PORT
ReturnHeader/Filer/EIN0222527595
ReturnHeader/Filer/PhoneNum02077734753
ReturnHeader/Filer/USAddress/AddressLine1Txt014 BAXTER BLVD
ReturnHeader/Filer/USAddress/CityNm0PORTLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
ReturnHeader/Filer/USAddress/ZIPCd004103
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263670494
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RECTOR REEDER & LOFTON PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01255 LAKES PKWY STE 375
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAWRENCEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0300438909
ReturnHeader/PreparerPersonGrp/PhoneNum07708798411
ReturnHeader/PreparerPersonGrp/PreparationDt02017-03-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY BETH SMITH CPA
ReturnHeader/ReturnTs02017-03-30T19:34:27+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,851,150
Liabilities
$359,960
Net assets
$2,491,190
Revenue
$939,377
Expenses
$574,176
Net income
$365,201
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.2$5.73$18.5$5.57$1.94$3.63
2023Summary only. Only limited summary data is available for this year.$19.8$4.93$14.9$7.40$1.10$6.30
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$3.17$8.60$5.23$1.14$4.09
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.33$0.82$4.51$2.76$2.18$0.57
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.90$0.96$3.94$1.66$0.47$1.19
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.72$0.97$2.75$0.75$0.50$0.25
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$0.33$2.50$0.33$0.26$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.77$0.34$2.43$0.20$0.27$0.06
2016Detailed filing. Detailed filing data is available for this year.$2.85$0.36$2.49$0.94$0.57$0.37
2015Detailed filing. Detailed filing data is available for this year.$2.50$0.38$2.13$0.10$0.18$0.08
2014Detailed filing. Detailed filing data is available for this year.$2.60$0.39$2.21$0.14$0.24$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.72$0.41$2.31$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$0.00$2.37$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$0.00$2.38$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$0.00$2.37$0.01