Civic Intelligence

Gardner Commons Development Corporation

990 • Fiscal year 2021 • EIN 55-0913379

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 28, 2021

Organization Profile
P O Box 2219Bangor, ME 04402-2219

(207) 947-6795

Siviq Scores

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

Liabilities / Assets

51st percentile

0.08x

Higher debt load relative to assets than 51% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

0.90x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

6th percentile

-40%

Higher net margin than 6% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

16th percentile

-3.7%

Faster asset growth than 16% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

31st percentile

-0.4%

Faster revenue growth than 31% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$3,005,831

Down $115,999 (-3.7%) from 2020

Net Assets

Down

$2,779,935

Down $100,819 (-3.5%) from 2020

Liabilities

Down

$225,896

Down $15,180 (-6.3%) from 2020

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin6th percentile

Revenue

Down

$250,418

Down $1,127 (-0.4%) from 2020

Expenses

Up

$351,237

Up $13,432 (+4.0%) from 2020

Net Income

Down

-$100,819

Down $14,559 (-17%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,129,437Liabilities 2010: $34,351Net Assets 2010: $4,095,0862010Assets 2011: $4,014,377Liabilities 2011: $35,812Net Assets 2011: $3,978,5652011Assets 2012: $3,902,266Liabilities 2012: $49,106Net Assets 2012: $3,853,1602012Assets 2013: $3,794,344Liabilities 2013: $41,050Net Assets 2013: $3,753,2942013Assets 2014: $3,694,430Liabilities 2014: $249,854Net Assets 2014: $3,444,5762014Assets 2015: $3,596,139Liabilities 2015: $259,082Net Assets 2015: $3,337,0572015Assets 2016: $3,476,497Liabilities 2016: $256,954Net Assets 2016: $3,219,5432016Assets 2017: $3,386,067Liabilities 2017: $238,223Net Assets 2017: $3,147,8442017Assets 2018: $3,301,428Liabilities 2018: $246,020Net Assets 2018: $3,055,4082018Assets 2019: $3,211,748Liabilities 2019: $244,734Net Assets 2019: $2,967,0142019Assets 2020: $3,121,830Liabilities 2020: $241,076Net Assets 2020: $2,880,7542020Assets 2021: $3,005,831Liabilities 2021: $225,896Net Assets 2021: $2,779,9352021Assets 2022: $2,927,063Liabilities 2022: $246,739Net Assets 2022: $2,680,3242022Assets 2023: $2,823,861Liabilities 2023: $233,039Net Assets 2023: $2,590,8222023Assets 2024: $2,766,724Liabilities 2024: $254,672Net Assets 2024: $2,512,0522024Assets 2025: $2,691,383Liabilities 2025: $267,534Net Assets 2025: $2,423,8492025

Highlighted filing

2021

Assets$3,005,831
Liabilities$225,896
Net Assets$2,779,935
Open 2021 Filing

Operations Trend

Revenue Growth31st percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $299,4102010Revenue 2011: $192,467Expenses 2011: $308,988Net Income 2011: -$116,5212011Expenses 2012: $314,7652012Expenses 2013: $311,2262013Revenue 2014: $212,329Expenses 2014: $321,047Net Income 2014: -$108,7182014Revenue 2015: $226,479Expenses 2015: $333,998Net Income 2015: -$107,5192015Revenue 2016: $210,873Expenses 2016: $328,387Net Income 2016: -$117,5142016Revenue 2017: $243,251Expenses 2017: $314,950Net Income 2017: -$71,6992017Revenue 2018: $240,927Expenses 2018: $333,363Net Income 2018: -$92,4362018Revenue 2019: $239,538Expenses 2019: $327,932Net Income 2019: -$88,3942019Revenue 2020: $251,545Expenses 2020: $337,805Net Income 2020: -$86,2602020Revenue 2021: $250,418Expenses 2021: $351,237Net Income 2021: -$100,8192021Revenue 2022: $254,145Expenses 2022: $353,756Net Income 2022: -$99,6112022Revenue 2023: $292,052Expenses 2023: $381,554Net Income 2023: -$89,5022023Revenue 2024: $305,849Expenses 2024: $384,619Net Income 2024: -$78,7702024Revenue 2025: $325,347Expenses 2025: $413,550Net Income 2025: -$88,2032025

Highlighted filing

2021

Revenue$250,418
Expenses$351,237
Net Income-$100,819
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 28, 2021
Return Version
2020v4.0
Gross Receipts
$250,418
Mission and Program Overview

Mission

To operate a 26 unit elderly low income housing development in bucksport, maine, which provides decent, safe and sanitary housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,939,039$2,834,422▼ $104,617
Savings and Temporary Cash Investments$133,108$160,867▲ $27,759
Prepaid Expenses and Deferred Charges$11,666$8,121▼ $3,545
Cash and Non-Interest-Bearing Accounts$37,913$2,232▼ $35,681
Accounts Receivable$104$189▲ $85
Total Assets$3,121,830$3,005,831▼ $115,999
Liabilities
Mortgage Notes Payable Secured by Investment Property$200,000$200,000→ $0
Accounts Payable and Accrued Expenses$30,810$13,639▼ $17,171
Other Liabilities$9,477$10,518▲ $1,041
Deferred Revenue$789$1,739▲ $950
Total Liabilities$241,076$225,896▼ $15,180
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,880,754$2,779,935▼ $100,819
Total Net Assets Fund Balance$2,880,754$2,779,935▼ $100,819
Total Liabilities and Net Assets / Fund Balance$3,121,830$3,005,831▼ $115,999

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,797,613$1,322,655$4,120,268
Other Land Buildings-$148,287$148,287
Leasehold Improvements$36,809$17,639$54,448
Equipment-$24,057$24,057
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Doug DoaneBoard Chair
Nancy MinottVice Chair
Bonnie KlineDirector
David WinchesterDirector
Jessica RichardsDirector
Michelle RhodesDirector
Nancy PearsonDirector
Susan DavisDirector
Susan LessardDirector
William FosterDirector
Debbie SlanskySecretary
Michelle WingateTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$250,277
Investment Income
$141
Other Revenue
$0
Change in Net Assets
$-100,819

Audited Revenue Reconciliation

Revenue per Audited Statements
$250,418
Total Revenue per Audited Statements
$250,418
Total Revenue per Form 990
$250,418
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$351,237
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
Depreciation Depletion$104,617--$104,617
Occupancy$53,945--$53,945
Fees for Services Other$5,546$13,268-$18,814
Fees for Services Management-$16,848-$16,848
Insurance$10,523$1,881-$12,404
Other Expenses$10,804--$10,804
All Other Expenses$10,275--$10,275
Fees for Services Accounting-$5,975-$5,975
Total Functional Expenses$313,265$37,972$0$351,237

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$351,237
Total Expenses per Audited Statements$351,237
Total Expenses per Form 990$351,237
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
Tenant Security Deposit$9,062
Prepaid Rent$1,456
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Management duties are delegated to maine development associates of bangor, me.”

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

“The return is reviewed and approved by the management agent and board chair before it is electronically filed.”

Form 990, Page 6, Part VI, Line 19

“Records are available upon request of the management agent.”

Filing and Contact Details

Filer

Filer Name
Gardner Commons Development
EIN
55-0913379
Phone
2079476795
Address
P O BOX 2219, BANGOR, ME 04402-2219

Signing Officer

Name
Doug Doane
Title
Board Chair
Phone
2079476795
Signed
2021-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Doane
Formed
2006
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Bbsc Cpas
Address
38 PARKWAY SOUTH, BREWER, ME 04412-1628
Preparer
Michael P Jones CPA
Phone
2079418890
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Income taxes and accounting for uncertain tax positions the organization is a not-for-profit corporation recognized by the internal revenue service under section 501(c)(3) of the code. Accordingly, no tax liability or expense has been recorded. The organization's income tax filings are subject to audit by various taxing authorities. The organization's open audit periods are for the fiscal years ended june 30, 2018 through june 30, 2021. Any interest or penalties assessed to the organization are recorded in operating expenses. For the years ended june 30, 2021 and 2020 there were no interest or penalties recorded in the accompanying financial statements. In evaluating the organization's tax provisions and accruals, future taxable income, and the reversal of temporary differences, interpretations, and tax planning strategies are considered. Management believes their estimates are appropriate based on current facts and circumstances.”

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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01211246
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01322655
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt024057
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt017639
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PREPAID RENT
IRS990ScheduleD/RevenueSubtotalAmt0250418
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0351237
IRS990ScheduleD/TotalLiabilityAmt010518
IRS990ScheduleD/TotalRevenuePerForm990Amt0250418
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT DUTIES ARE DELEGATED TO MAINE DEVELOPMENT ASSOCIATES OF BANGOR, ME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS REVIEWED AND APPROVED BY THE MANAGEMENT AGENT AND BOARD CHAIR BEFORE IT IS ELECTRONICALLY FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RECORDS ARE AVAILABLE UPON REQUEST OF THE MANAGEMENT AGENT.
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0313265
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,005,831
Liabilities
$225,896
Net assets
$2,779,935
Revenue
$250,418
Expenses
$351,237
Net income
-$100,819
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$0.27$2.42$0.33$0.41$0.09
2024Detailed filing. Detailed filing data is available for this year.$2.77$0.25$2.51$0.31$0.38$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.82$0.23$2.59$0.29$0.38$0.09
2022Detailed filing. Detailed filing data is available for this year.$2.93$0.25$2.68$0.25$0.35$0.10
2021Detailed filing. Detailed filing data is available for this year.$3.01$0.23$2.78$0.25$0.35$0.10
2020Detailed filing. Detailed filing data is available for this year.$3.12$0.24$2.88$0.25$0.34$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.21$0.24$2.97$0.24$0.33$0.09
2018Detailed filing. Detailed filing data is available for this year.$3.30$0.25$3.06$0.24$0.33$0.09
2017Detailed filing. Detailed filing data is available for this year.$3.39$0.24$3.15$0.24$0.31$0.07
2016Detailed filing. Detailed filing data is available for this year.$3.48$0.26$3.22$0.21$0.33$0.12
2015Detailed filing. Detailed filing data is available for this year.$3.60$0.26$3.34$0.23$0.33$0.11
2014Detailed filing. Detailed filing data is available for this year.$3.69$0.25$3.44$0.21$0.32$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.79$0.04$3.75$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.90$0.05$3.85$0.31
2011Summary only. Only limited summary data is available for this year.$4.01$0.04$3.98$0.19$0.31$0.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.13$0.03$4.10$0.30