Civic Intelligence

Portland Housing Development Corporation

990 • Fiscal year 2021 • EIN 22-2527595

Jul 01, 2020 to Jun 30, 2021 • Filed on Apr 22, 2022

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

59th percentile

0.15x

Higher debt load relative to assets than 59% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

64th percentile

0.30x

Higher debt load relative to revenue than 64% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Net Margin

61st percentile

21%

Higher net margin than 61% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

71st percentile

$164,328

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Asset Growth

55th percentile

8.8%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

85th percentile

66%

Faster revenue growth than 85% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$5,328,711

Up $432,668 (+8.8%) from 2020

Net Assets

Up

$4,508,721

Up $573,124 (+15%) from 2020

Liabilities

Down

$819,990

Down $140,456 (-15%) from 2020

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin61st percentile

Revenue

Up

$2,757,076

Up $1,097,139 (+66%) from 2020

Expenses

Up

$2,183,952

Up $1,710,247 (+361%) from 2020

Net Income

Down

$573,124

Down $613,108 (-52%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2021

Assets$5,328,711
Liabilities$819,990
Net Assets$4,508,721
Open 2021 Filing

Operations Trend

Revenue Growth85th 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

2021

Revenue$2,757,076
Expenses$2,183,952
Net Income$573,124
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 22, 2022
Return Version
2020v4.0
Gross Receipts
$2,757,076
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$3,926,822$3,953,045▲ $26,223
Savings and Temporary Cash Investments$754,783$720,780▼ $34,003
Other Notes and Loans Receivable, Net$213,850$621,607▲ $407,757
Accounts Receivable$588$31,714▲ $31,126
Prepaid Expenses and Deferred Charges-$1,565-
Total Assets$4,896,043$5,328,711▲ $432,668
Liabilities
Mortgage Notes Payable Secured by Investment Property$806,863$782,826▼ $24,037
Other Liabilities$146,946$35,974▼ $110,972
Accounts Payable and Accrued Expenses$6,637$1,190▼ $5,447
Total Liabilities$960,446$819,990▼ $140,456
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,935,597$4,508,721▲ $573,124
Total Net Assets Fund Balance$3,935,597$4,508,721▲ $573,124
Total Liabilities and Net Assets / Fund Balance$4,896,043$5,328,711▲ $432,668

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,674,111$335,780$4,009,891
Land$277,844-$277,844
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleOtherTotal
Cheryl SessionsPresident/tr$164,328$164,328

Board Members and Trustees

NameTitle
Kristin BlumChair
Cheryl SessionsPresident/treasurer
Monique MutumwinkaVice Chair
Christian MilneilDirector
Luisa DeprezDirector
Robyn TuckerDirector
Shirley PetersonDirector
Thomas ValleauDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,492,000
Program Service Revenue
$264,571
Investment Income
$505
Other Revenue
$0
Change in Net Assets
$573,124
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,183,952
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$428,246--$428,246
Depreciation Depletion$70,689--$70,689
Interest$37,857--$37,857
Office Expenses$36,594--$36,594
Insurance$32,246--$32,246
Occupancy$25,739--$25,739
Fees for Services Accounting$2,000--$2,000
Fees for Services Legal$1,746--$1,746
Other Expenses$314--$314
Travel$230--$230
Total Functional Expenses$2,183,952$0$0$2,183,952
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
Due to Affiliate$18,014
Tenant Security Deposits$13,018
Deferred Revenue$4,942
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
2022-04-22
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
Michael K Ozment 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
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ReturnHeader/ReturnTs02022-05-02T13:13:24-05:00

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,328,711
Liabilities
$819,990
Net assets
$4,508,721
Revenue
$2,757,076
Expenses
$2,183,952
Net income
$573,124
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
2021Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)4 • $5M-$10M nonprofits