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Nonprofiteer
← SOUTH PORTLAND HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by SOUTH PORTLAND HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$4,071,254
Total expenses
$2,713,257
Contributions and grants received
$78,452
Grants paid
$0
Program service revenue
$3,273,958
Investment income
$525,967
Other revenue
$192,877
Total assets, end of year
$10,409,961
Total liabilities, end of year
$2,542,759
Net assets or fund balances, end of year
$7,867,202
Program services expenses (Part IX)
$2,444,187
Management and general expenses
$269,070
Fundraising expenses
$0
Program service expenses (Part III)
$2,444,187

Program services were 90.1% 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.

  • 1e · Government grants (contributions)

    $78,452

  • 2a · Program service revenue: PASSTHROUGH PROPERTY I

    total $2,558,005 · related or exempt $2,558,005

  • 2b · Program service revenue: SERVICE INCOME

    total $294,697 · related or exempt $294,697

  • 2c · Program service revenue: LAND LEASE INCOME

    total $193,119 · related or exempt $193,119

  • 2d · Program service revenue: TENANT RENT

    total $157,568 · related or exempt $157,568

  • 2e · Program service revenue: MANAGEMENT FEE INCOME

    total $69,340 · related or exempt $69,340

  • 2f · All other program service revenue

    total $1,229 · related or exempt $1,229

  • 3 · Investment income

    total $343,713 · related or exempt $267,639 · excluded $76,074

  • 7a · Gross sales of assets other than inventory

    other assets $182,920

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

    other assets $666

  • 7c · Gain or loss

    other assets $182,254

  • 7d · Net gain or loss

    total $182,254 · related or exempt $182,254

  • 11a · Other revenue: BAD DEBT RECOVERY

    total $192,877 · related or exempt $192,877

  • 11e · Other revenue, total

    $192,877

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $228,309 · program services $228,309

  • 11a · Fees: management

    total $254,077 · program services $4,077 · management and general $250,000

  • 11b · Fees: legal

    total $36,607 · program services $36,607

  • 11c · Fees: accounting

    total $19,070 · management and general $19,070

  • 13 · Office expenses

    total $98,707 · program services $98,707

  • 14 · Information technology

    total $1,302 · program services $1,302

  • 16 · Occupancy

    total $407,780 · program services $407,780

  • 17 · Travel

    total $3,763 · program services $3,763

  • 20 · Interest

    total $121,094 · program services $121,094

  • 22 · Depreciation, depletion and amortization

    total $247,416 · program services $247,416

  • 23 · Insurance

    total $13,516 · program services $13,516

  • 24a · Other expenses: DEVELOPMENT

    total $1,278,985 · program services $1,278,985

  • 24b · Other expenses: BAD DEBT

    total $2,631 · program services $2,631

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $68,324 · end of year $56,928

  • 2 · Savings and temporary cash investments

    beginning of year $2,231,863 · end of year $2,038,845

  • 4 · Accounts receivable

    beginning of year $5,608 · end of year $459

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,519 · end of year $5,282

  • 10a · Land, buildings and equipment: cost or other basis

    $6,168,313

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,704,043

  • 10c · Land, buildings and equipment, net

    beginning of year $4,766,144 · end of year $4,464,270

  • 12 · Investments: other securities

    beginning of year $1,332,891 · end of year $2,753,912

  • 14 · Intangible assets

    beginning of year $31,133 · end of year $21,709

  • 15 · Other assets

    beginning of year $734,239 · end of year $1,068,556

  • 17 · Accounts payable and accrued expenses

    beginning of year $81,076 · end of year $385,280

  • 19 · Deferred revenue

    beginning of year $224,788 · end of year $224,788

  • 23 · Secured mortgages and notes payable

    beginning of year $2,352,907 · end of year $1,914,831

  • 25 · Other liabilities

    beginning of year $12,745 · end of year $17,860

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $6,509,205 · end of year $7,867,202

Mission and programs · 2022

Mission

LOW-INCOME HOUSING

Activities or mission (Part I)

LOW INCOME HOUSING

  • TO DEVELOP AND MANAGE PROJECTS PROVIDING LOW INCOME HOUSING TO THE ELDERLY, HANDICAPPED AND FAMILIES.

    Expenses $2,444,187 · Revenue $3,273,958

As filed on the 2022 return.

Listed in Part VII

  • Mary Jo Jakab

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Judy Carpenter

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Dr Frank Morong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Christine Dearborn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Peter Howe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin Powel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kathern Lovejoy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kathryn G Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Ghomri Rostampour

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Laurie Carr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alison Dame

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Michel Duvernay

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lisa Viola

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Farrington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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

No itemized grants to organizations on this return.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SCATTERED SITES HOUSING LLC

    AFFORDABLE HOUSING · ME · income $1,937,851 · assets $1,937,851

    Directly controlled by SOUTH PORTLAND HOUSING DEVELOPMENT CORP

  • THORNTON HEIGHTS COMMONS GP LLC

    AFFORDABLE HOUSING · ME · income -$6 · assets $11,231

    Directly controlled by SOUTH PORTLAND HOUSING DEVELOPMENT CORP

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MILL COVE HOUSING ASSOCIATES LP

    RELATED · AFFORDABLE HOUSING · ME · share of income $676,645 · share of assets $2,849,416

  • RIDGELAND SENIOR HOUSING ASSOC LP

    RELATED · AFFORDABLE HOUSING · ME · share of income $11 · share of assets $1,556

  • SOUTH PORTLAND CONGREGATE LLC

    RELATED · AFFORDABLE HOUSING · ME · share of income -$288 · share of assets $7,413

  • LANDRY CIRCLE SENIOR HOUSING 2 LP

    RELATED · AFFORDABLE HOUSING · ME

  • OAK HILL SENIOR HOUSING LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RIDGELAND MANAGEMENT COMPANY L3C

    C · AFFORDABLE HOUSING · ME · 100% owned · share of income $117,172 · share of assets $5,228,999

Provenance

Return type
form_990
Tax year
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202432279349301773

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