Civic Intelligence

Raise-Op Housing Cooperative

990 • Fiscal year 2019 • EIN 47-1739509

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 25, 2020

Organization ProfileWWW.RAISEOP.COM
145 Pierce St No 102Lewiston, ME 04240

(207) 956-0508

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.36x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

1.54x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

32nd percentile

-2.4%

Higher net margin than 32% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

59th percentile

$34,020

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 16.6% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

$879,355

No earlier filing loaded for comparison.

Net Assets

$562,922

No earlier filing loaded for comparison.

Liabilities

$316,433

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin32nd percentile

Revenue

$205,066

No earlier filing loaded for comparison.

Expenses

$209,956

No earlier filing loaded for comparison.

Net Income

-$4,890

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2019: $879,355Liabilities 2019: $316,433Net Assets 2019: $562,9222019Assets 2020: $1,188,970Liabilities 2020: $279,612Net Assets 2020: $909,3582020Assets 2021: $1,404,454Liabilities 2021: $292,632Net Assets 2021: $1,111,8222021Assets 2022: $2,075,829Liabilities 2022: $292,289Net Assets 2022: $1,783,5402022Assets 2023: $2,757,637Liabilities 2023: $339,058Net Assets 2023: $2,418,5792023Assets 2024: $2,684,580Liabilities 2024: $327,976Net Assets 2024: $2,356,6042024

Highlighted filing

2019

Assets$879,355
Liabilities$316,433
Net Assets$562,922
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2019: $205,066Expenses 2019: $209,956Net Income 2019: -$4,8902019Revenue 2020: $502,617Expenses 2020: $207,397Net Income 2020: $295,2202020Revenue 2021: $399,021Expenses 2021: $196,557Net Income 2021: $202,4642021Revenue 2022: $963,863Expenses 2022: $291,906Net Income 2022: $671,9572022Revenue 2023: $941,299Expenses 2023: $306,260Net Income 2023: $635,0392023Revenue 2024: $316,653Expenses 2024: $378,628Net Income 2024: -$61,9752024

Highlighted filing

2019

Revenue$205,066
Expenses$209,956
Net Income-$4,890
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 25, 2020
Return Version
2019v5.1
Gross Receipts
$205,066
Mission and Program Overview

Mission

The mission of the raise-op is to operate safe and affordable housing that is democratically controlled by its members on a non-profit basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$837,957$820,475▼ $17,482
Cash and Non-Interest-Bearing Accounts$34,812$33,998▼ $814
Savings and Temporary Cash Investments$19,039$24,614▲ $5,575
Accounts Receivable$983$268▼ $715
Total Assets$892,791$879,355▼ $13,436
Liabilities
Mortgage Notes Payable Secured by Investment Property$276,102$265,398▼ $10,704
Other Liabilities$1,170$23,447▲ $22,277
Unsecured Notes Loans Payable$0$14,993▲ $14,993
Accounts Payable and Accrued Expenses$567$12,595▲ $12,028
Total Liabilities$277,839$316,433▲ $38,594
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$614,952$562,922▼ $52,030
Total Net Assets Fund Balance$614,952$562,922▼ $52,030
Total Liabilities and Net Assets / Fund Balance$892,791$879,355▼ $13,436

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$665,737$113,786$779,523
Land$129,495-$129,495
Equipment$8,271$26,815$35,086
Other Land Buildings$16,972$5,810$22,782
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Craig SaddlemireCooperative ManagerFT$31,620$2,400$34,020

Board Members and Trustees

NameTitle
Brenda AkersPresident
Elisabeth JanesVice President
Houssein AbdiDirector
Stuart BrownDirector
Julia HarperSecretary
Shaad MasoodTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$78,059
Program Service Revenue
$126,788
Investment Income
$27
Other Revenue
$192
All Other Contributions
$78,059
Change in Net Assets
$-4,890
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$138,162
Salaries, Compensation, and Employee Benefits$71,794
Total Fundraising Expense$5,032
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$32,114$3,922$1,306$37,342
Occupancy$36,106$744$372$37,222
Current Officers, Directors, Trustees, and Key Employees$29,257$3,572$1,191$34,020
Depreciation Depletion$31,276$645$322$32,243
Other Salaries and Wages$17,862$2,181$727$20,770
Payroll Taxes$13,850$1,690$564$16,104
Insurance$7,903$965$322$9,190
Interest$8,474$175$87$8,736
Fees for Services Legal-$5,093-$5,093
All Other Expenses$2,675$327$109$3,111
Fees for Services Accounting-$1,900-$1,900
Other Employee Benefits$774$94$32$900
Travel-$472-$472
Other Expenses-$365-$365
Information Technology-$286-$286
Advertising-$194-$194
Total Functional Expenses$180,291$24,633$5,032$209,956
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$23,447
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Julia harper and craig saddlemire have a family relationship.”

Form 990, Part VI, Section A, Line 6

“All residents of the three cooperative buildings are members of raise-op.”

Form 990, Part VI, Section A, Line 7A

“The members of raise-op have the right to elect the members of the governing body. The members of the governing body are elected on an annual basis and as vacancies arise.”

Form 990, Part VI, Section A, Line 7B

“Members must approve changes to articles of incorporation and by-laws, and may dissolve the corporation.”

Form 990, Part VI, Section B, Line 11B

“The prepared form 990 is reviewed by the cooperative manager and the treasurer before the return is filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“Staff requires board members and officers to reaffirm that they have read the policy each year.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Raise-op Housing Cooperative
EIN
47-1739509
Phone
2079560508
Address
145 PIERCE ST NO 102, LEWISTON, ME 04240

Signing Officer

Name
Craig Saddlemire
Title
Cooperative Manager
Phone
2079560508
Signed
2020-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Saddlemire
Formed
2014
Legal Domicile
Me
Voting Board Members
6
Independent Board Members
6
Employees
2
Volunteers
50

Preparer

Firm
Wegner Cpas Llp
Address
2921 LANDMARK PL STE 300, MADISON, WI 53713-4236
Preparer
Bruce Mayer CPA
Phone
6082744020
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JULIA HARPER AND CRAIG SADDLEMIRE HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL RESIDENTS OF THE THREE COOPERATIVE BUILDINGS ARE MEMBERS OF RAISE-OP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBERS OF RAISE-OP HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE MEMBERS OF THE GOVERNING BODY ARE ELECTED ON AN ANNUAL BASIS AND AS VACANCIES ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBERS MUST APPROVE CHANGES TO ARTICLES OF INCORPORATION AND BY-LAWS, AND MAY DISSOLVE THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PREPARED FORM 990 IS REVIEWED BY THE COOPERATIVE MANAGER AND THE TREASURER BEFORE THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5STAFF REQUIRES BOARD MEMBERS AND OFFICERS TO REAFFIRM THAT THEY HAVE READ THE POLICY EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/WebsiteAddressTxt0HTTP://WWW.RAISEOP.COM
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ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COOPERATIVE MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum02079560508
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RAISE-OP HOUSING COOPERATIVE
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ReturnHeader/FilingSecurityInformation/IPDt02020-06-25
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ReturnHeader/FilingSecurityInformation/IPTm009:23:33
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390974031
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WEGNER CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02921 LANDMARK PL STE 300
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$879,355
Liabilities
$316,433
Net assets
$562,922
Revenue
$205,066
Expenses
$209,956
Net income
-$4,890
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.68$0.33$2.36$0.32$0.38$0.06
2023Detailed filing. Detailed filing data is available for this year.$2.76$0.34$2.42$0.94$0.31$0.64
2022Detailed filing. Detailed filing data is available for this year.$2.08$0.29$1.78$0.96$0.29$0.67
2021Detailed filing. Detailed filing data is available for this year.$1.40$0.29$1.11$0.40$0.20$0.20
2020Detailed filing. Detailed filing data is available for this year.$1.19$0.28$0.91$0.50$0.21$0.30
2019Detailed filing. Detailed filing data is available for this year.$0.88$0.32$0.56$0.21$0.21$0.00