Civic Intelligence

State Street Housing Preservation Corp

EIN 22-3129401 • 501(c)3 • Portland, ME

Profile

To develop, own and manage subsidized residential housing units and related facilities for the elderly.

14 Baxter BoulevardPortland, ME 04101

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.92x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

3.60x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

23rd percentile

-5.5%

Higher net margin than 23% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

47th percentile

$177,858

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

16th percentile

-5.9%

Faster asset growth than 16% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

85th percentile

49%

Faster revenue growth than 85% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$20,757,585

Down $1,300,880 (-5.9%) from 2023

Liabilities

Down

$19,000,252

Down $1,011,625 (-5.1%) from 2023

Net Assets

Down

$1,757,333

Down $289,255 (-14%) from 2023

Revenue

Up

$5,282,893

Up $1,735,399 (+49%) from 2023

Expenses

Down

$5,572,148

Down $1,808,232 (-25%) from 2023

Net Income

Up

-$289,255

Up $3,543,631 (+92%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $12,714,593Liabilities 2010: $8,524,186Net Assets 2010: $4,190,4072010Assets 2011: $13,027,859Liabilities 2011: $8,316,285Net Assets 2011: $4,711,5742011Assets 2012: $13,420,562Liabilities 2012: $8,269,694Net Assets 2012: $5,150,8682012Assets 2013: $13,730,190Liabilities 2013: $8,067,295Net Assets 2013: $5,662,8952013Assets 2014: $13,755,333Liabilities 2014: $7,789,225Net Assets 2014: $5,966,1082014Assets 2015: $13,634,474Liabilities 2015: $7,526,848Net Assets 2015: $6,107,6262015Assets 2016: $13,007,785Liabilities 2016: $7,237,363Net Assets 2016: $5,770,4222016Assets 2017: $13,109,974Liabilities 2017: $6,933,522Net Assets 2017: $6,176,4522017Assets 2018: $13,208,001Liabilities 2018: $6,615,897Net Assets 2018: $6,592,1042018Assets 2019: $12,984,359Liabilities 2019: $6,257,152Net Assets 2019: $6,727,2072019Assets 2020: $26,524,665Liabilities 2020: $20,078,287Net Assets 2020: $6,446,3782020Assets 2021: $24,631,700Liabilities 2021: $20,724,139Net Assets 2021: $3,907,5612021Assets 2022: $22,823,112Liabilities 2022: $16,967,342Net Assets 2022: $5,855,7702022Assets 2023: $22,058,465Liabilities 2023: $20,011,877Net Assets 2023: $2,046,5882023Assets 2024: $20,757,585Liabilities 2024: $19,000,252Net Assets 2024: $1,757,3332024

Highlighted filing

2024

Assets$20,757,585
Liabilities$19,000,252
Net Assets$1,757,333

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $1,980,9272010Expenses 2011: $1,521,8892011Revenue 2012: $2,038,096Expenses 2012: $1,598,802Net Income 2012: $439,2942012Revenue 2013: $2,107,628Expenses 2013: $1,595,610Net Income 2013: $512,0182013Revenue 2014: $2,129,615Expenses 2014: $1,826,402Net Income 2014: $303,2132014Revenue 2015: $2,135,288Expenses 2015: $1,616,362Net Income 2015: $518,9262015Revenue 2016: $2,181,713Expenses 2016: $2,518,917Net Income 2016: -$337,2042016Revenue 2017: $2,163,997Expenses 2017: $1,757,967Net Income 2017: $406,0302017Revenue 2018: $2,225,278Expenses 2018: $1,809,626Net Income 2018: $415,6522018Revenue 2019: $2,515,222Expenses 2019: $2,380,119Net Income 2019: $135,1032019Revenue 2020: $3,171,461Expenses 2020: $3,452,290Net Income 2020: -$280,8292020Revenue 2021: $3,259,892Expenses 2021: $5,798,709Net Income 2021: -$2,538,8172021Revenue 2022: $6,615,826Expenses 2022: $4,246,569Net Income 2022: $2,369,2572022Revenue 2023: $3,547,494Expenses 2023: $7,380,380Net Income 2023: -$3,832,8862023Revenue 2024: $5,282,893Expenses 2024: $5,572,148Net Income 2024: -$289,2552024

Highlighted filing

2024

Revenue$5,282,893
Expenses$5,572,148
Net Income-$289,255

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$19.0$1.76$5.28$5.57$0.29
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.1$20.0$2.05$3.55$7.38$3.83
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.8$17.0$5.86$6.62$4.25$2.37
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.6$20.7$3.91$3.26$5.80$2.54
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.5$20.1$6.45$3.17$3.45$0.28
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.0$6.26$6.73$2.52$2.38$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.2$6.62$6.59$2.23$1.81$0.42
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.1$6.93$6.18$2.16$1.76$0.41
2016Detailed filing. Detailed filing data is available for this year.$13.0$7.24$5.77$2.18$2.52$0.34
2015Detailed filing. Detailed filing data is available for this year.$13.6$7.53$6.11$2.14$1.62$0.52
2014Detailed filing. Detailed filing data is available for this year.$13.8$7.79$5.97$2.13$1.83$0.30
2013Summary only. Only limited summary data is available for this year.$13.7$8.07$5.66$2.11$1.60$0.51
2012Summary only. Only limited summary data is available for this year.$13.4$8.27$5.15$2.04$1.60$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$8.32$4.71$1.52
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$8.52$4.19$1.98
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$5,282,893
Mission and Program Overview

Mission

To develop, own and manage subsidized residential housing units and related facilities for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$13,068,884$9,288,844▼ $3,780,040
Land, Buildings, and Equipment, Net$3,740,188$3,643,875▼ $96,313
Cash and Non-Interest-Bearing Accounts$1,724,699$3,569,087▲ $1,844,388
Prepaid Expenses and Deferred Charges$54,136$60,386▲ $6,250
Accounts Receivable$2,238$9,299▲ $7,061
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors-$0-
Total Assets$22,058,465$20,757,585▼ $1,300,880
Other Assets Total$3,468,320$4,186,094▲ $717,774
Liabilities
Mortgage Notes Payable Secured by Investment Property$19,873,397$14,803,624▼ $5,069,773
Deferred Revenue-$3,765,131-
Accounts Payable and Accrued Expenses$67,300$223,314▲ $156,014
Other Liabilities$71,180$208,183▲ $137,003
Total Liabilities$20,011,877$19,000,252▼ $1,011,625
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,046,588$1,757,333▼ $289,255
Total Net Assets Fund Balance$2,046,588$1,757,333▼ $289,255
Total Liabilities and Net Assets / Fund Balance$22,058,465$20,757,585▼ $1,300,880

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,414,911$8,460,551$10,875,462
Other Land Buildings$612,432$349,487$961,919
Land$616,476-$616,476
Equipment$56$356,823$356,879
Other Assets Org$250,207--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brian FrostPresident
Bob DunfeyVice Chair
Christian MilnealVice Chair
Diane HermannDirector
Joan WhiteDirector
Kristin BlumDirector
Monique MutumwinkaDirector
Shirley PetersonDirector
Tim WellsDirector
Thomas ValleauDirector (thru 04/2024)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,852,232
Investment Income
$410,387
Other Revenue
$20,274
Change in Net Assets
$-289,255
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,106,690
Salaries, Compensation, and Employee Benefits$465,458
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$724,765--$724,765
Depreciation Depletion$418,171--$418,171
Other Salaries and Wages$326,665--$326,665
Occupancy$270,989--$270,989
Fees for Services Management$158,722--$158,722
Other Employee Benefits$138,793--$138,793
Insurance$102,690--$102,690
Office Expenses$47,926--$47,926
Fees for Services Accounting$27,069--$27,069
Information Technology$24,866--$24,866
Fees for Services Legal$10,670--$10,670
Other Expenses$8,288--$8,288
Travel$8,172--$8,172
All Other Expenses$5,080$0$0$5,080
Advertising$738--$738
Total Functional Expenses$5,572,148$0$0$5,572,148
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
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Port Properties$77,587
Tenant Security Deposits$66,039
Due to Pha-phdc$61,831
Security Deposit Interest$1,859
Tenant Prepaid Rents$867
Tenant Security Deposits-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B Review of form 990 by governing body

The board will review the 990 submission annually at its spring meeting.

Form 990, Part VI, Line 12C Conflict of interest policy

Disclosures are provided annually.

Form 990, Part VI, Line 19 Required documents available to the public

Documents provided upon request.

Filing and Contact Details

Filer

Filer Name
State Street Housing Preservation Corp
EIN
22-3129401
Phone
2077734753
Address
14 BAXTER BOULEVARD, PORTLAND, ME 04101

Signing Officer

Name
Brian Frost
Title
President
Phone
2077734753
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
Me
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Bdo USA
Address
ONE ERDMAN PLACE SUITE 404, MADISON, WI 53717
Preparer
Kelly Raquet
Phone
6088367500
Raw XML AppendixShowing 400 of 621 raw XML fields

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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IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0TO DEVELOP, OWN AND MANAGE SUBSIDIZED HOUSING UNITS AND RELATED FACILITIES FOR THE ELDERLY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt019873397
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt014803624
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt061773
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0300
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0300
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IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02046588
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01757333
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt0270989
IRS990/OccupancyGrp/TotalAmt0270989
IRS990/OfficeExpensesGrp/ProgramServicesAmt047926
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IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03468320
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0138793
IRS990/OtherExpensesGrp/Desc0TRANSFERS OUT (PHDC)
IRS990/OtherExpensesGrp/Desc1REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc3OTHER TENANT SERVICES
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IRS990/OtherExpensesGrp/ProgramServicesAmt1261163
IRS990/OtherExpensesGrp/ProgramServicesAmt224714
IRS990/OtherExpensesGrp/ProgramServicesAmt38288
IRS990/OtherExpensesGrp/TotalAmt03012667
IRS990/OtherExpensesGrp/TotalAmt1261163
IRS990/OtherExpensesGrp/TotalAmt224714
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11349160
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11349160
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03547494
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
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IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt0300
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04852232
IRS990/SavingsAndTempCashInvstGrp/BOYAmt013068884
IRS990/SavingsAndTempCashInvstGrp/EOYAmt09288844
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0DESCRIPTION - LAUNDRY & VENDING REVENUE, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 19457.0, COLUMN E - 26631.0, COLUMN F - 46088.0;
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part III, Line 12 Other Income
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt04852232
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt06615826
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03259892
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt03171461
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt021169900
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt046088
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearAmt00
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X

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