Civic Intelligence

Vinalhaven Housing Initiative

EIN 92-1202640 • 501(c)3 • Vinalhaven, ME

Profile

The Vinalhaven Housing Initiative is devoted to creating year-round affordable and sustainable housing for residents workers and elders so that our island community may continue to thrive.

PO Box 261Vinalhaven, ME 04863

www.vinalhavenhousing.org

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

97th percentile

92%

Higher net margin than 97% of similar nonprofits.

501(c)3 • <$500k 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

Score unavailable

No value available

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

Source year 2024

Revenue Growth

Score unavailable

No value available

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

Source year 2024

Balance Sheet
Liabilities / Assets59th percentile

Assets

$445,100

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Net Assets

$445,100

No earlier filing loaded for comparison.

Operations
Liabilities / Revenue61st percentileNet Margin97th percentile

Revenue

$467,573

No earlier filing loaded for comparison.

Expenses

$35,259

No earlier filing loaded for comparison.

Net Income

$432,314

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

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

$600K$400K$200K$0Assets 2024: $445,100Liabilities 2024: $0Net Assets 2024: $445,1002024

Highlighted filing

2024

Assets$445,100
Liabilities$0
Net Assets$445,100
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0Revenue 2024: $467,573Expenses 2024: $35,259Net Income 2024: $432,3142024

Highlighted filing

2024

Revenue$467,573
Expenses$35,259
Net Income$432,314
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$445,100
Liabilities
$0
Net assets
$445,100
Revenue
$467,573
Expenses
$35,259
Net income
$432,314
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.45$0.00$4.45$4.68$0.35$4.32
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 7, 2025
Return Version
2024v5.1
Gross Receipts
$472,795
Mission and Program Overview

Mission

The Vinalhaven Housing Initiative is devoted to creating year-round affordable and sustainable housing for residents workers and elders so that our island community may continue to thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$340,273▲ $340,273
Cash and Non-Interest-Bearing Accounts$12,786$96,827▲ $84,041
Savings and Temporary Cash Investments$0$8,000▲ $8,000
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$12,786$445,100▲ $432,314
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,786$445,100▲ $432,314
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$12,786$445,100▲ $432,314
Total Liabilities and Net Assets / Fund Balance$12,786$445,100▲ $432,314

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$191,466$2,946$194,412
Land$148,807-$148,807
Other Land Buildings$0$0$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Elin ElisofonPresident
Kathi YoungVice President
Beth NewboldDirector
Brent GroceDirector
Darline BeckmanDirector
Eric DavisDirector
John MyerDirector
Kristin AlleyDirector
Hooper BrooksSecretary
Duncan UrquhartTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$467,614
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-41
All Other Contributions
$129,270
Change in Net Assets
$432,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$35,259
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$0$0$0$19,771
Insurance$0$0$0$8,069
Advertising$0$0$0$3,361
Office Expenses$0$0$0$2,127
Fees for Services Legal$0$0$0$1,931
Total Functional Expenses$0$0$0$35,259
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

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

Governance Explanations

Part VI, Line 11A

“Form 990 was emailed to all board members prior to filing.”

Part VI, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Vinalhaven Housing Initiative
EIN
92-1202640
Phone
2075421243
Address
PO Box 261, Vinalhaven, ME 04863

Signing Officer

Name
Duncan Urquhart
Title
Treasurer
Phone
2075421243
Signed
2025-11-07

Organization Details

Principal Officer
Elin Elisofon
Formed
2023
Legal Domicile
Me
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10
Supplemental Narrative

Additional Explanations

Part III, line 2

“Purchased 2-unit home for workforce housing”

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