Civic Intelligence

Portland Housing Development Corporation

990 • Fiscal year 2020 • EIN 22-2527595

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 01, 2021

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

68th percentile

0.20x

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

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

75th percentile

0.58x

Higher debt load relative to revenue than 75% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Net Margin

94th percentile

71%

Higher net margin than 94% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

91st percentile

$180,216

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 10.9% of source-year revenue.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Asset Growth

86th percentile

32%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

93rd percentile

121%

Faster revenue growth than 93% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$4,896,043

Up $1,175,266 (+32%) from 2019

Net Assets

Up

$3,935,597

Up $1,186,232 (+43%) from 2019

Liabilities

Down

$960,446

Down $10,966 (-1.1%) from 2019

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin94th percentile

Revenue

Up

$1,659,937

Up $907,414 (+121%) from 2019

Expenses

Down

$473,705

Down $25,901 (-5.2%) from 2019

Net Income

Up

$1,186,232

Up $933,315 (+369%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth86th 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

2020

Assets$4,896,043
Liabilities$960,446
Net Assets$3,935,597
Open 2020 Filing

Operations Trend

Revenue Growth93rd 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

2020

Revenue$1,659,937
Expenses$473,705
Net Income$1,186,232
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 1, 2021
Return Version
2019v5.0
Gross Receipts
$1,659,937
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$2,498,559$3,926,822▲ $1,428,263
Savings and Temporary Cash Investments$723,122$754,783▲ $31,661
Other Notes and Loans Receivable, Net$499,096$213,850▼ $285,246
Accounts Receivable-$588-
Total Assets$3,720,777$4,896,043▲ $1,175,266
Liabilities
Mortgage Notes Payable Secured by Investment Property$829,663$806,863▼ $22,800
Other Liabilities$141,106$146,946▲ $5,840
Accounts Payable and Accrued Expenses$643$6,637▲ $5,994
Total Liabilities$971,412$960,446▼ $10,966
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,749,365$3,935,597▲ $1,186,232
Total Net Assets Fund Balance$2,749,365$3,935,597▲ $1,186,232
Total Liabilities and Net Assets / Fund Balance$3,720,777$4,896,043▲ $1,175,266

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,648,978$263,796$3,912,774
Land$277,844-$277,844
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleOtherTotal
Mark AdelsonPres/treasur$180,216$180,216
Cheryl SessionsPresident/tr$127,228$127,228

Board Members and Trustees

NameTitle
Christian MilneilDirector
Kristin BlumDirector
Monique MutumwinkaDirector
Robyn TuckerDirector
Shirley PetersonDirector
Thomas ValleauDirector
Mark AdelsonPres/treasurer
Mariar BalowVP/sec
Revenue and Support

Revenue Composition

Contributions and Grants
$1,517,016
Program Service Revenue
$142,018
Investment Income
$903
Other Revenue
$0
Change in Net Assets
$1,186,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$473,705
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$261,674--$261,674
Depreciation Depletion$59,267--$59,267
Interest$39,094--$39,094
Occupancy$20,929--$20,929
Insurance$14,718--$14,718
All Other Expenses$3,976--$3,976
Fees for Services Legal$3,879--$3,879
Other Expenses$3,681--$3,681
Fees for Services Accounting$2,000--$2,000
Office Expenses$1,370--$1,370
Travel$162--$162
Total Functional Expenses$473,705$0$0$473,705
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$125,477
Due to Affiliate$14,703
Tenant Security Deposits$6,766
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
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
2021-04-01
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/ExplanationTxt0THE BOARD WILL REVIEW THE 990 SUBMISSION ANNUALLY AT ITS FEBRUARY MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DISCLOSURES ARE PROVIDED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,896,043
Liabilities
$960,446
Net assets
$3,935,597
Revenue
$1,659,937
Expenses
$473,705
Net income
$1,186,232
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
2020Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)4 • $1M-$5M nonprofits