Totals
- Total revenue
- $2,024,988
- Total expenses
- $1,264,524
- Contributions and grants received
- $0
- Grants paid
- $16,500
- Program service revenue
- $1,870,474
- Investment income
- $154,514
- Other revenue
- $0
- Total assets, end of year
- $10,417,290
- Total liabilities, end of year
- $3,945,067
- Net assets or fund balances, end of year
- $6,472,223
- Program services expenses (Part IX)
- $1,165,997
- Management and general expenses
- $98,527
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,165,997
Program services were 92.2% 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: TENANT RENT
total $1,228,450 · related or exempt $1,228,450
-
2b · Program service revenue: FLOWTHROUGH PAYMENTS -
total $366,920 · related or exempt $366,920
-
2c · Program service revenue: ENERGY EFFICIENCY REBA
total $152,908 · related or exempt $152,908
-
2d · Program service revenue: SOLAR ENERGY TAX CREDI
total $89,950 · related or exempt $89,950
-
2e · Program service revenue: LAUNDRY/MISCELLANEOUS
total $29,460 · related or exempt $29,460
-
2f · All other program service revenue
total $2,786 · related or exempt $2,786
-
3 · Investment income
total $129,551 · related or exempt $129,551
-
7a · Gross sales of assets other than inventory
securities $24,963
-
7b · Less cost or other basis and sales expenses
securities $0
-
7c · Gain or loss
securities $24,963
-
7d · Net gain or loss
total $24,963 · related or exempt $24,963
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $16,500 · program services $16,500
-
5 · Compensation of officers, directors and key employees
total $86,189 · program services $86,189
-
10 · Payroll taxes
total $6,814 · program services $6,814
-
11a · Fees: management
total $142,373 · program services $68,873 · management and general $73,500
-
11c · Fees: accounting
total $25,027 · management and general $25,027
-
12 · Advertising and promotion
total $883 · program services $883
-
20 · Interest
total $97,924 · program services $97,924
-
22 · Depreciation, depletion and amortization
total $283,234 · program services $283,234
-
23 · Insurance
total $73,108 · program services $73,108
-
24a · Other expenses: UTILITIES
total $136,417 · program services $136,417
-
24b · Other expenses: CONTRACTUAL SERVICES
total $129,151 · program services $129,151
-
24c · Other expenses: MAINTENANCE & REPAIRS
total $96,682 · program services $96,682
-
24d · Other expenses: PROPERTY TAXES
total $72,654 · program services $72,654
-
24e · All other expenses
total $97,568 · program services $97,568
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $4,092,850 · end of year $4,977,389
-
4 · Accounts receivable
beginning of year $54,942 · end of year $150,470
-
7 · Other notes and loans receivable
beginning of year $500,000 · end of year $500,000
-
9 · Prepaid expenses and deferred charges
beginning of year $3,953 · end of year $3,348
-
10a · Land, buildings and equipment: cost or other basis
$7,821,699
-
10b · Land, buildings and equipment: accumulated depreciation
$3,812,521
-
10c · Land, buildings and equipment, net
beginning of year $4,278,187 · end of year $4,009,178
-
13 · Investments: program-related
beginning of year $71,116 · end of year $71,116
-
15 · Other assets
beginning of year $721,288 · end of year $705,789
-
17 · Accounts payable and accrued expenses
beginning of year $118,812 · end of year $58,169
-
23 · Secured mortgages and notes payable
beginning of year $3,843,295 · end of year $3,801,173
-
25 · Other liabilities
beginning of year $83,792 · end of year $85,725
-
27 · Net assets without donor restrictions
beginning of year $5,676,437 · end of year $6,472,223
Mission and programs · 2024
Mission
PROVIDE LOW-INCOME HOUSING.
-
OPERATION OF A 30 UNIT LOW-INCOME HOUSING PROJECT KNOWN AS VARNEY SQUARE.
Expenses $1,165,997 · Grants $16,500 · Revenue $2,024,988
-
OPERATION OF A 30 UNIT LOW-INCOME HOUSING PROJECT KNOWN AS VILLAGE VIEW.
-
OPERATION OF AN 18 UNIT LOW-INCOME HOUSING PROJECT KNOWN AS MAPLEWOOD TERRACE.
-
DEVELOPMENT AND MANAGEMENT OF VARIOUS LOW-INCOME HOUSING PROJECTS.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
CHRIS RONEY
PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
BRIDGET DORNBACH
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
THOMAS WHELAN
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
THOMAS H KELLEY
SECRETARY & CLERK
- Total calculated
- $0
- Hours/week
- 2
-
DR JEFFREY STENZEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
AMY CARTMELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DREW WING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MARY ATALA LESSARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SUZANNE NORTON
ASSISTANT VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
ELIZABETH CARLTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
LINCOLN JEFFERS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CHELSEA BELANGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MATT PETERS
EXECUTIVE DIRECTOR
- Total calculated
- $64,611
- From this org
- $64,611
- From related orgs
- $0
- Other
- $0
- Hours/week
- 30
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.
Grants on this return
-
$15,000
SCHOLARSHIP FUND
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.
-
501(C)(3) · ELDERLY HOUSING · ME
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
RELATED · AFFORDABLE HOUSING · ME · general or managing partner
-
RELATED · AFFORDABLE HOUSING · ME · general or managing partner
-
RELATED · AFFORDABLE HOUSING · ME · general or managing partner
-
RELATED · AFFORDABLE HOUSING · ME · general or managing partner
-
RELATED · AFFORDABLE HOUSING · ME · general or managing partner
-
RELATED · AFFORDABLE HOUSING · ME · general or managing partner
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C · AFFORDABLE HOUSING · ME · 100% owned
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 18 December 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533529349301653
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