Civic Intelligence

Portland Housing Development Corporation

990 • Fiscal year 2019 • EIN 22-2527595

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 15, 2020

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

73rd percentile

0.26x

Higher debt load relative to assets than 73% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

86th percentile

1.29x

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

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Net Margin

80th percentile

34%

Higher net margin than 80% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

90th percentile

$176,559

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 23.5% of source-year revenue.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Asset Growth

89th percentile

32%

Faster asset growth than 89% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

95th percentile

128%

Faster revenue growth than 95% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$3,720,777

Up $896,985 (+32%) from 2018

Net Assets

Up

$2,749,365

Up $252,917 (+10%) from 2018

Liabilities

Up

$971,412

Up $644,068 (+197%) from 2018

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin80th percentile

Revenue

Up

$752,523

Up $422,502 (+128%) from 2018

Expenses

Up

$499,606

Up $238,180 (+91%) from 2018

Net Income

Up

$252,917

Up $184,322 (+269%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2019

Assets$3,720,777
Liabilities$971,412
Net Assets$2,749,365
Open 2019 Filing

Operations Trend

Revenue Growth95th 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

2019

Revenue$752,523
Expenses$499,606
Net Income$252,917
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 15, 2020
Return Version
2018v3.2
Gross Receipts
$752,523
Mission and Program Overview

Mission

Construction of low income housing, rent supplements and support services

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,533,981$2,498,559▲ $964,578
Savings and Temporary Cash Investments$1,056,796$723,122▼ $333,674
Other Notes and Loans Receivable, Net$231,750$499,096▲ $267,346
Accounts Receivable$1,265--
Total Assets$2,823,792$3,720,777▲ $896,985
Liabilities
Mortgage Notes Payable Secured by Investment Property$320,358$829,663▲ $509,305
Other Liabilities$6,986$141,106▲ $134,120
Accounts Payable and Accrued Expenses-$643-
Total Liabilities$327,344$971,412▲ $644,068
Net Assets / Fund Balance
Unrestricted Net Assets$2,496,448$2,749,365▲ $252,917
Total Net Assets Fund Balance$2,496,448$2,749,365▲ $252,917
Total Liabilities and Net Assets / Fund Balance$2,823,792$3,720,777▲ $896,985

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,338,559$205,823$2,544,382
Land$160,000-$160,000
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleOtherTotal
Mark AdelsonPres/treasur$176,559$176,559

Board Members and Trustees

NameTitle
Cheryl SessionsPresident/tr
Christian MilneilDirector
Faith McleanDirector
Kristin BlumDirector
Robyn TuckerDirector
Shirley PetersonDirector
Thomas ValleauDirector
Mark AdelsonPres/treasurer
Mariar BalowVP/sec
Revenue and Support

Revenue Composition

Contributions and Grants
$500,000
Program Service Revenue
$251,463
Investment Income
$1,060
Other Revenue
$0
Change in Net Assets
$252,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$499,606
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$197,637--$197,637
Depreciation Depletion$57,787--$57,787
Interest$20,671--$20,671
Occupancy$15,862--$15,862
Insurance$10,165--$10,165
All Other Expenses$7,281--$7,281
Other Expenses$4,118--$4,118
Fees for Services Legal$3,614--$3,614
Fees for Services Accounting$2,000--$2,000
Travel$314--$314
Office Expenses$50--$50
Total Functional Expenses$499,606$0$0$499,606
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
Deferred Revenue$125,000
Contract Retentions$12,783
Tenant Security Deposits$3,323
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
Cheryl Sessions
Title
President/treasurer
Phone
2077734753
Signed
2020-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryl Sessions
Formed
1983
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Rector Reeder & Lofton Pc
Address
623 TOM BREWER ROAD, LOGANVILLE, GA 30052-4042
Preparer
Mary Beth Smith CPA
Phone
7708798411
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS PROVIDED UPON REQUEST.
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0623 TOM BREWER ROAD

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,720,777
Liabilities
$971,412
Net assets
$2,749,365
Revenue
$752,523
Expenses
$499,606
Net income
$252,917
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
2019Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)4 • $1M-$5M nonprofits