Civic Intelligence

Silver Lake Housing

EIN 23-7356023 • 501(c)4 • Bangor, ME

Profile

LOW INCOME HOUSING

4 Union Plaza Box 9Bangor, ME 04401
Siviq Scores

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

Liabilities / Assets

95th percentile

0.97x

Higher debt load relative to assets than 95% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

2.17x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Net Margin

41st percentile

2.3%

Higher net margin than 41% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

26th percentile

-3.5%

Faster asset growth than 26% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

47th percentile

4.4%

Faster revenue growth than 47% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Assets

Down

$618,545

Down $21,124 (-3.3%) from 2023

Liabilities

Down

$601,100

Down $27,432 (-4.4%) from 2023

Net Assets

Up

$17,445

Up $6,308 (+57%) from 2023

Revenue

Down

$276,864

Down $530 (-0.2%) from 2023

Expenses

Down

$270,556

Down $1,682 (-0.6%) from 2023

Net Income

Up

$6,308

Up $1,152 (+22%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0Assets 2013: $981,552Liabilities 2013: $772,895Net Assets 2013: $208,6572013Assets 2014: $929,116Liabilities 2014: $750,339Net Assets 2014: $178,7772014Assets 2015: $881,246Liabilities 2015: $722,573Net Assets 2015: $158,6732015Assets 2016: $860,992Liabilities 2016: $730,890Net Assets 2016: $130,1022016Assets 2017: $826,724Liabilities 2017: $733,882Net Assets 2017: $92,8422017Assets 2018: $803,606Liabilities 2018: $722,868Net Assets 2018: $80,7382018Assets 2019: $752,088Liabilities 2019: $703,302Net Assets 2019: $48,7862019Assets 2020: $737,901Liabilities 2020: $689,993Net Assets 2020: $47,9082020Assets 2021: $696,568Liabilities 2021: $670,510Net Assets 2021: $26,0582021Assets 2022: $664,828Liabilities 2022: $658,847Net Assets 2022: $5,9812022Assets 2023: $639,669Liabilities 2023: $628,532Net Assets 2023: $11,1372023Assets 2024: $618,545Liabilities 2024: $601,100Net Assets 2024: $17,4452024

Highlighted filing

2024

Assets$618,545
Liabilities$601,100
Net Assets$17,445

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2013: $235,304Expenses 2013: $238,968Net Income 2013: -$3,6642013Revenue 2014: $221,698Expenses 2014: $251,578Net Income 2014: -$29,8802014Revenue 2015: $221,384Expenses 2015: $241,488Net Income 2015: -$20,1042015Revenue 2016: $227,364Expenses 2016: $230,308Net Income 2016: -$2,9442016Revenue 2017: $224,963Expenses 2017: $252,253Net Income 2017: -$27,2902017Revenue 2018: $245,320Expenses 2018: $268,091Net Income 2018: -$22,7712018Revenue 2019: $240,072Expenses 2019: $272,024Net Income 2019: -$31,9522019Revenue 2020: $238,696Expenses 2020: $239,574Net Income 2020: -$8782020Revenue 2021: $234,316Expenses 2021: $256,166Net Income 2021: -$21,8502021Revenue 2022: $254,062Expenses 2022: $274,139Net Income 2022: -$20,0772022Revenue 2023: $277,394Expenses 2023: $272,238Net Income 2023: $5,1562023Revenue 2024: $276,864Expenses 2024: $270,556Net Income 2024: $6,3082024

Highlighted filing

2024

Revenue$276,864
Expenses$270,556
Net Income$6,308

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.19$6.01$0.17$2.77$2.71$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.40$6.29$0.11$2.77$2.72$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.65$6.59$0.06$2.54$2.74$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.97$6.71$0.26$2.34$2.56$0.22
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.38$6.90$0.48$2.39$2.40$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.52$7.03$0.49$2.40$2.72$0.32
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.04$7.23$0.81$2.45$2.68$0.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.27$7.34$0.93$2.25$2.52$0.27
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.61$7.31$1.30$2.27$2.30$0.03
2015Detailed filing. Detailed filing data is available for this year.$8.81$7.23$1.59$2.21$2.41$0.20
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.29$7.50$1.79$2.22$2.52$0.30
2013Detailed filing. Detailed filing data is available for this year.$9.82$7.73$2.09$2.35$2.39$0.04
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$254,062
Mission and Program Overview

Mission

LOW INCOME HOUSING

To provide low income housing for seniors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$514,406$533,930▲ $19,524
Savings and Temporary Cash Investments$163,355$105,796▼ $57,559
Cash and Non-Interest-Bearing Accounts$8,158$13,849▲ $5,691
Prepaid Expenses and Deferred Charges$10,649$11,253▲ $604
Total Assets$696,568$664,828▼ $31,740
Liabilities
Mortgage Notes Payable Secured by Investment Property$648,181$629,047▼ $19,134
Accounts Payable and Accrued Expenses$11,105$16,017▲ $4,912
Other Liabilities$11,224$13,783▲ $2,559
Total Liabilities$670,510$658,847▼ $11,663
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$26,058$5,981▼ $20,077
Total Net Assets Fund Balance$26,058$5,981▼ $20,077
Total Liabilities and Net Assets / Fund Balance$696,568$664,828▼ $31,740

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$510,223$1,091,542$1,601,765
Land$23,707-$23,707
Compensation and Service Providers

Board Members and Trustees

NameTitle
Roger NelsonPresident
Cynthia ThibodeauDirector
Peter MealeyDirector
Jill JonesSecretary
Jeff CrowellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$253,842
Investment Income
$220
Other Revenue
$0
Change in Net Assets
$-20,077

Audited Revenue Reconciliation

Revenue per Audited Statements
$254,062
Total Revenue per Audited Statements
$254,062
Total Revenue per Form 990
$254,062
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$274,139
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
Occupancy$84,246--$84,246
Depreciation Depletion$49,908--$49,908
Interest$44,135--$44,135
Fees for Services Management$15,806$5,269-$21,075
Insurance$8,922--$8,922
All Other Expenses$5,085$2,700-$7,785
Other Expenses$7,050--$7,050
Fees for Services Accounting-$6,100-$6,100
Fees for Services Legal$616--$616
Office Expenses$268--$268
Advertising$190--$190
Total Functional Expenses$260,070$14,069$0$274,139

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$274,139
Total Expenses per Audited Statements$274,139
Total Expenses per Form 990$274,139
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
Security Deposit Reserves$12,663
Unearned Rent$1,120
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

A board of directors elects members of the governing body

Form 990, Page 6, Part VI, Line 7B

Decisions are subject to approval by all board members

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed at a bi-annual meeting of silver lake housing

Form 990, Page 6, Part VI, Line 19

Governing documents are filed at the management agent's office and are available upon requrest of the management agent.

Filing and Contact Details

Filer

Filer Name
Silver Lake Housing Corp
EIN
23-7356023
Phone
2079245504
Address
4 UNION PLAZA BOX 9, BANGOR, ME 04401

Signing Officer

Name
Roger Nelson
Title
President
Phone
2079902099
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roger Nelson
Formed
1974
Legal Domicile
Me
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Bbsc Cpas
Address
38 PARKWAY S, BREWER, ME 04412
Preparer
Michael P Jones CPA
Phone
2079418890
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Income taxes the organization is a not for profit corporation recognized by the internal revenue service under section 501(c)(4)of the code. Accordingly, no provision for income taxes has been recorded in the accompanying financial statements. The organization did not have any unrelated business income for the years ended december 31, 2022 and 2021. The organizations income tax filings are subject to audit by various taxing authorities. Any interest or penalties assessed to the organization are recorded in operating expenses. For the years ended december 31, 2022 and 2021, there were no interest or penalties recorded in the accompanying financial statements.

Raw XML Appendix322 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd0true
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES THE ORGANIZATION IS A NOT FOR PROFIT CORPORATION RECOGNIZED BY THE INTERNAL REVENUE SERVICE UNDER SECTION 501(C)(4)OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. THE ORGANIZATIONS INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THERE WERE NO INTEREST OR PENALTIES RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS ARE SUBJECT TO APPROVAL BY ALL BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED AT A BI-ANNUAL MEETING OF SILVER LAKE HOUSING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE FILED AT THE MANAGEMENT AGENT'S OFFICE AND ARE AVAILABLE UPON REQUREST OF THE MANAGEMENT AGENT.
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ROGER NELSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-31
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt038 PARKWAY S
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ReturnHeader/PreparerPersonGrp/PhoneNum02079418890
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL P JONES CPA
ReturnHeader/ReturnTs02023-11-07T09:31:55-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ROGER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NELSON
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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