Form 990 for tax year 2024
Filed by STATE STREET HOUSING PRESERVATION CORPORATION.
Totals
- Total revenue
- $5,416,162
- Total expenses
- $3,416,408
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $4,128,933
- Investment income
- $1,261,068
- Other revenue
- $26,161
- Total assets, end of year
- $21,412,503
- Total liabilities, end of year
- $18,194,103
- Net assets or fund balances, end of year
- $3,218,400
- Program services expenses (Part IX)
- $3,356,034
- Management and general expenses
- $60,374
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,356,034
Program services were 98.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: RENTAL INCOME - TENANT
total $3,772,049 · related or exempt $3,772,049
-
2b · Program service revenue: MISCELLANEOUS REVENUE - TENANT
total $356,884 · related or exempt $356,884
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,233,221 · excluded $1,233,221
-
6a · Gross rents
real property $300
-
6c · Rental income or loss
real property $300 · personal property $0
-
6d · Net rental income or loss
total $300 · excluded $300
-
7a · Gross sales of assets other than inventory
other assets $27,847
-
7c · Gain or loss
securities $0 · other assets $27,847
-
7d · Net gain or loss
total $27,847 · related or exempt $0 · unrelated business $0 · excluded $27,847
-
11a · Other revenue: LAUNDRY & VENDING REVENUE
total $18,361 · excluded $18,361
-
11b · Other revenue: INSURANCE CLAIM
total $7,500 · excluded $7,500
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$25,861
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $363,383 · program services $363,383
-
9 · Other employee benefits
total $123,933 · program services $123,933
-
10 · Payroll taxes
total $25,603 · program services $25,603
-
11a · Fees: management
total $186,597 · program services $186,597
-
11b · Fees: legal
total $16,780 · management and general $16,780
-
11c · Fees: accounting
total $43,594 · management and general $43,594
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $436,059 · program services $436,059
-
17 · Travel
total $3,074 · program services $3,074
-
20 · Interest
total $1,150,930 · program services $1,150,930
-
22 · Depreciation, depletion and amortization
total $419,411 · program services $419,411
-
23 · Insurance
total $133,588 · program services $133,588
-
24a · Other expenses: REPAIRS & MAINTENANCE
total $476,937 · program services $476,937
-
24b · Other expenses: PROTECTIVE SERVICES
total $18,769 · program services $18,769
-
24c · Other expenses: TENANT SERVICES
total $15,318 · program services $15,318
-
24d · Other expenses: OTHER GENERAL EXPENSES
total $2,432 · program services $2,432
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,569,087 · end of year $3,381,552
-
2 · Savings and temporary cash investments
beginning of year $9,288,844 · end of year $10,616,807
-
4 · Accounts receivable
beginning of year $9,299 · end of year $4,648
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $60,386 · end of year $37,093
-
10a · Land, buildings and equipment: cost or other basis
$13,070,309
-
10b · Land, buildings and equipment: accumulated depreciation
$9,580,594
-
10c · Land, buildings and equipment, net
beginning of year $3,643,875 · end of year $3,489,715
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $4,186,094 · end of year $3,882,688
-
17 · Accounts payable and accrued expenses
beginning of year $223,314 · end of year $54,436
-
19 · Deferred revenue
beginning of year $3,765,131 · end of year $0
-
22 · Loans and payables to officers and key people
end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $14,803,624 · end of year $17,907,175
-
25 · Other liabilities
beginning of year $208,183 · end of year $232,492
-
27 · Net assets without donor restrictions
beginning of year $1,757,333 · end of year $3,218,400
Mission and programs · 2024
Mission
TO DEVELOP, OWN AND MANAGE SUBSIDIZED HOUSING UNITS AND RELATED FACILITIES FOR THE ELDERLY.
Activities or mission (Part I)
TO DEVELOP, OWN AND MANAGE SUBSIDIZED RESIDENTIAL HOUSING UNITS AND RELATED FACILITIES FOR THE ELDERLY.
-
PROVIDE SUBSIDIZED HOUSING FOR THE ELDERLY.
Expenses $3,356,034 · Revenue $4,128,933
As filed on the 2024 return.
Listed in Part VII
-
CHRISTIAN MILNEAL
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
DIANE HERMANN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
JOAN WHITE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
KRISTIN BLUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
MONIQUE MUTUMWINKA
CHAIR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
SHIRLEY PETERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
TIM WELLS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.2 related
-
BRIAN FROST
PRESIDENT
- Total calculated
- $201,282
- From this org
- $0
- From related orgs
- $172,734
- Other
- $28,548
- Hours/week
- 0.1 + 39.9 related
Schedule J breakdown matched by us
- Base
- $0 + $135,834 related
- Bonus
- $0 + $6,400 related
- Other
- $0 + $30,500 related
- Deferred
- $0 + $17,247 related
- Nontaxable benefits
- $0 + $11,301 related
- Filer's total
- $0 + $201,282 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
- PORTLAND HOUSING AUTHORITY, A RELATED ORGANIZATION OF STATE STREET HOUSING PRESERVATION CORP, USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE ORGANIZATION'S PRESIDENT: - WRITTEN EMPLOYMENT CONTRACT
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
PORTLAND HOUSING AUTHORITY (PHA)
501(a) · HOUSING · ME
Directly controlled by NA
-
PORTLAND HOUSING DEVELOPMENT CORP
501(c)(4) · HOUSING · ME
Directly controlled by PORTLAND HOUSING AUTHORITY
-
PORTLAND HOUSING SERVICE CORPORATION
501(c)(3) · HOUSING · ME
Directly controlled by PORTLAND HOUSING AUTHORITY
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 15 May 2026
- IRS schema version
- 2024v5.1
- Source object
- 202611359349305416
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