Civic Intelligence

Portland Housing Development Corporation

990 • Fiscal year 2017 • EIN 22-2527595

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 28, 2018

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

58th percentile

0.12x

Higher debt load relative to assets than 58% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

87th percentile

1.70x

Higher debt load relative to revenue than 87% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Net Margin

8th percentile

-31%

Higher net margin than 8% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

90th percentile

$167,994

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 83.3% of source-year revenue.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2017

Asset Growth

24th percentile

-2.8%

Faster asset growth than 24% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

2nd percentile

-79%

Faster revenue growth than 2% of similar nonprofits.

2017 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$2,771,537

Down $79,613 (-2.8%) from 2016

Net Assets

Down

$2,427,853

Down $63,337 (-2.5%) from 2016

Liabilities

Down

$343,684

Down $16,276 (-4.5%) from 2016

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin8th percentile

Revenue

Down

$201,669

Down $737,708 (-79%) from 2016

Expenses

Down

$265,006

Down $309,170 (-54%) from 2016

Net Income

Down

-$63,337

Down $428,538 (-117%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth24th 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

2017

Assets$2,771,537
Liabilities$343,684
Net Assets$2,427,853
Open 2017 Filing

Operations Trend

Revenue Growth2nd 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

2017

Revenue$201,669
Expenses$265,006
Net Income-$63,337
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 28, 2018
Return Version
2016v3.1
Gross Receipts
$201,669
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$1,680,931$1,442,826▼ $238,105
Land, Buildings, and Equipment, Net$919,574$1,096,881▲ $177,307
Other Notes and Loans Receivable, Net$249,490$231,750▼ $17,740
Accounts Receivable$1,155$80▼ $1,075
Total Assets$2,851,150$2,771,537▼ $79,613
Liabilities
Mortgage Notes Payable Secured by Investment Property$351,894$336,147▼ $15,747
Other Liabilities$8,066$7,537▼ $529
Total Liabilities$359,960$343,684▼ $16,276
Net Assets / Fund Balance
Unrestricted Net Assets$2,491,190$2,427,853▼ $63,337
Total Net Assets Fund Balance$2,491,190$2,427,853▼ $63,337
Total Liabilities and Net Assets / Fund Balance$2,851,150$2,771,537▼ $79,613

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$936,881$120,067$1,056,948
Land$160,000-$160,000
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleOtherTotal
Mark AdelsonPres/treasur$167,994$167,994

Board Members and Trustees

NameTitle
Christian MilneilDirector
Evan CarrollDirector
Mariar BalowDirector
Siyad AhmedDirector
Thomas ValleauDirector
Mark AdelsonPres/treasurer
Shirley PetersonVP/sec
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$200,104
Investment Income
$1,565
Other Revenue
$0
Change in Net Assets
$-63,337
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$265,006
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$112,910--$112,910
Depreciation Depletion$27,969--$27,969
Occupancy$20,526--$20,526
Interest$11,639--$11,639
Insurance$8,086--$8,086
Fees for Services Accounting$5,750--$5,750
Payments to Affiliates$4,913--$4,913
Advertising$2,437--$2,437
Fees for Services Legal$1,802--$1,802
Other Expenses$1,742--$1,742
All Other Expenses$899--$899
Office Expenses$319--$319
Travel$17--$17
Total Functional Expenses$265,006$0$0$265,006
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$7,180
Deferred Revenue$345
Accrued Expenses$12
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
2018-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Adelson
Formed
1983
Voting Board Members
7
Independent Board Members
7
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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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/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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IRS990/TotalLiabilitiesBOYAmt0359960
IRS990/TotalLiabilitiesEOYAmt0343684
IRS990/TotalLiabilitiesGrp/BOYAmt0359960
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IRS990/TotalOtherCompensationAmt039818
IRS990/TotalProgramServiceExpensesAmt0265006
IRS990/TotalProgramServiceRevenueAmt0200104
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0201669
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02771537
IRS990/TotReportableCompRltdOrgAmt0128176
IRS990/TravelGrp/ProgramServicesAmt017
IRS990/TravelGrp/TotalAmt017
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/BusinessOfficerGrp/PersonNm0MARK ADELSON
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ReturnHeader/BusinessOfficerGrp/PhoneNum02077734753
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PORTLAND HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0PORT
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ReturnHeader/Filer/PhoneNum02077734753
ReturnHeader/Filer/USAddress/AddressLine1Txt014 BAXTER BLVD
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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/PreparationDt02018-03-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY BETH SMITH CPA
ReturnHeader/ReturnTs02018-03-02T14:02:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,771,537
Liabilities
$343,684
Net assets
$2,427,853
Revenue
$201,669
Expenses
$265,006
Net income
-$63,337
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
2017Detailed filing. Detailed filing data is available for this year.$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