Skip to content
Nonprofiteer
← BOWDOIN APARTMENTS CORP

Form 990 for tax year 2023

Filed by BOWDOIN APARTMENTS CORP.

Totals

Total revenue
$906,766
Total expenses
$829,753
Contributions and grants received
$0
Grants paid
$646,000
Program service revenue
$148,646
Investment income
$758,120
Other revenue
$0
Total assets, end of year
$12,951,436
Total liabilities, end of year
$125,000
Net assets or fund balances, end of year
$12,826,436
Program services expenses (Part IX)
$716,551
Management and general expenses
$113,202
Fundraising expenses
$0
Program service expenses (Part III)
$716,551

Program services were 86.4% 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: INTEREST EARNED ON LOANS

    total $148,146 · related or exempt $148,146

  • 2b · Program service revenue: LOAN ORIGINATION FEES

    total $500 · related or exempt $500

  • 3 · Investment income

    total $266,294 · excluded $266,294

  • 7a · Gross sales of assets other than inventory

    securities $3,590,501

  • 7b · Less cost or other basis and sales expenses

    securities $3,098,675

  • 7c · Gain or loss

    securities $491,826

  • 7d · Net gain or loss

    total $491,826 · excluded $491,826

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $646,000 · program services $646,000

  • 5 · Compensation of officers, directors and key employees

    total $11,500 · program services $5,750 · management and general $5,750

  • 7 · Other salaries and wages

    total $6,000 · management and general $6,000

  • 10 · Payroll taxes

    total $491 · management and general $491

  • 11c · Fees: accounting

    total $5,835 · management and general $5,835

  • 11f · Fees: investment management

    total $75,633 · management and general $75,633

  • 11g · Fees: other

    total $7,250 · program services $2,250 · management and general $5,000

  • 14 · Information technology

    total $3,593 · program services $1,650 · management and general $1,943

  • 17 · Travel

    total $4,836 · program services $2,418 · management and general $2,418

  • 19 · Conferences, conventions and meetings

    total $15,034 · program services $7,517 · management and general $7,517

  • 20 · Interest

    total $50,846 · program services $50,846

  • 23 · Insurance

    total $2,235 · management and general $2,235

  • 24a · Other expenses: BANK FEES

    total $300 · program services $120 · management and general $180

  • 24b · Other expenses: FOREIGN TAXES ON INVEST

    total $181 · management and general $181

  • 24c · Other expenses: STATE FILING FEES

    total $19 · management and general $19

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $123,329 · end of year $59,014

  • 2 · Savings and temporary cash investments

    beginning of year $279,877 · end of year $434,799

  • 11 · Investments: publicly traded securities

    beginning of year $10,199,099 · end of year $11,474,876

  • 13 · Investments: program-related

    beginning of year $1,040,000 · end of year $675,000

  • 15 · Other assets

    beginning of year $299,129 · end of year $307,747

  • 23 · Secured mortgages and notes payable

    beginning of year $940,000 · end of year $125,000

  • 27 · Net assets without donor restrictions

    beginning of year $11,001,434 · end of year $12,826,436

Mission and programs · 2023

Mission

TO SUPPORT AFFORDABLE HOUSING THROUGH BELOW MARKET RATE LOANS AND GRANTS AND FACILITATE TECHNICAL ASSISTANCE THROUGH THE DUE DILIGENCE PROCESS TO 501(C) ORGANIZATIONS.

  • THE PROGRAM SERVICE ACTIVITY IS THE SUPPORT OF AFFORDABLE RESIDENTIAL HOUSING IN TERMS OF BELOW MARKET RATE LOANS, GRANTS, AND COUNSELING. THE ORGANIZATION'S LOAN PORTFOLIO BALANCE AT SEPTEMBER 30, 2024 WAS $675,000. THE ORGANIZATION ALSO MADE 24 GRANTS TO OTHER 501(C)(3) ORGANIZATIONS THAT HAVE SIMILAR PROGRAMS.

    Expenses $716,551 · Grants $646,000 · Revenue $148,646

As filed on the 2023 return.

Listed in Part VII

  • James C Miller

    PRESIDENT/DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John R Daly Jr

    TREASURER/DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Nigel A Moffett

    CLERK/DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Leonard Gruenfeld

    DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Raymond O Anderson

    DIRECTOR

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenric A Prescott

    DIRECTOR

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
6 August 2025
IRS schema version
2023v6.0
Source object
202532189349301808

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.