Totals
- Total revenue
- $3,199,574
- Total expenses
- $2,644,251
- Contributions and grants received
- $294,409
- Grants paid
- $438
- Program service revenue
- $2,885,983
- Investment income
- $19,182
- Other revenue
- $0
- Total assets, end of year
- $17,936,911
- Total liabilities, end of year
- $14,428,064
- Net assets or fund balances, end of year
- $3,508,847
- Program services expenses (Part IX)
- $2,644,251
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,644,251
Program services were 100.0% 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)
$292,159
-
1f · All other contributions, gifts and grants
$2,250
-
2a · Program service revenue: RENTAL INCOME
total $1,748,489 · related or exempt $1,748,489
-
2b · Program service revenue: DEVELOPER FEE INCOME
total $721,474 · related or exempt $721,474
-
2c · Program service revenue: OPERATIONS INCOME
total $146,265 · related or exempt $146,265
-
2f · All other program service revenue
total $269,755 · related or exempt $269,755
-
3 · Investment income
total $19,182 · excluded $19,182
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $438 · program services $438
-
7 · Other salaries and wages
total $304,938 · program services $304,938
-
9 · Other employee benefits
total $32,587 · program services $32,587
-
11a · Fees: management
total $126,395 · program services $126,395
-
11b · Fees: legal
total $64,711 · program services $64,711
-
11c · Fees: accounting
total $55,568 · program services $55,568
-
11g · Fees: other
total $604,590 · program services $604,590
-
12 · Advertising and promotion
total $826 · program services $826
-
13 · Office expenses
total $117,451 · program services $117,451
-
14 · Information technology
total $123 · program services $123
-
16 · Occupancy
total $902,373 · program services $902,373
-
17 · Travel
total $14,888 · program services $14,888
-
20 · Interest
total $93,532 · program services $93,532
-
22 · Depreciation, depletion and amortization
total $44,450 · program services $44,450
-
23 · Insurance
total $152,606 · program services $152,606
-
24a · Other expenses: INDIRECT COSTS
total $99,443 · program services $99,443
-
24b · Other expenses: EQUIPMENT PURCHASES
total $14,060 · program services $14,060
-
24c · Other expenses: MINOR EQUIPMENT/RENOVAT
total $13,977 · program services $13,977
-
24e · All other expenses
total $1,295 · program services $1,295
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $318,682 · end of year $506,201
-
2 · Savings and temporary cash investments
beginning of year $942,349 · end of year $1,420,866
-
4 · Accounts receivable
beginning of year $1,218 · end of year $2,395,228
-
7 · Other notes and loans receivable
beginning of year $174,828 · end of year $174,827
-
9 · Prepaid expenses and deferred charges
beginning of year $32,731 · end of year $35,018
-
10a · Land, buildings and equipment: cost or other basis
$14,801,930
-
10b · Land, buildings and equipment: accumulated depreciation
$3,581,210
-
10c · Land, buildings and equipment, net
beginning of year $2,841,419 · end of year $11,220,720
-
13 · Investments: program-related
beginning of year $1,005,907 · end of year $1,399,644
-
14 · Intangible assets
beginning of year $0 · end of year $25,000
-
15 · Other assets
beginning of year $50,241 · end of year $759,407
-
17 · Accounts payable and accrued expenses
beginning of year $237,916 · end of year $966,936
-
19 · Deferred revenue
beginning of year $0 · end of year $129,731
-
23 · Secured mortgages and notes payable
beginning of year $5,095,279 · end of year $12,022,905
-
25 · Other liabilities
beginning of year $163,127 · end of year $1,308,492
-
27 · Net assets without donor restrictions
beginning of year -$128,947 · end of year $3,508,847
Mission and programs · 2023
Mission
TO PROMOTE AND PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS IN THE STATE OF MAINE.
-
LOW INCOME HOUSING.
Expenses $2,644,251 · Grants $438 · Revenue $2,885,983
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Tyler CollinsTYLER COLLINS
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Jack ClukeyJACK CLUKEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Rick HarnumRICK HARNUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Mark LeonardMARK LEONARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Catherine SullivanCATHERINE SULLIVAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Brian ThibeauBRIAN THIBEAU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Kara HayKARA HAY
CHIEF EXECUTIVE OFFICER
- Total calculated
- $285,136
- From this org
- $0
- From related orgs
- $249,207
- Other
- $35,929
- Hours/week
- 0.01 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $238,898 related
- Bonus
- $0
- Other
- $0 + $10,309 related
- Deferred
- $0 + $19,268 related
- Nontaxable benefits
- $0 + $16,661 related
- Filer's total
- $0 + $285,136 related
-
Heidi LeblancHEIDI LEBLANC
CHIEF OPERATING OFFICER
- Total calculated
- $167,786
- From this org
- $0
- From related orgs
- $165,150
- Other
- $2,636
- Hours/week
- 0.01 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $158,555 related
- Bonus
- $0
- Other
- $0 + $6,595 related
- Deferred
- $0
- Nontaxable benefits
- $0 + $2,636 related
- Filer's total
- $0 + $167,786 related
-
Denice ConaryDENICE CONARY
CHIEF FINANCIAL OFFICER
- Total calculated
- $209,560
- From this org
- $0
- From related orgs
- $183,784
- Other
- $25,776
- Hours/week
- 0.01 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $179,702 related
- Bonus
- $0
- Other
- $0 + $4,082 related
- Deferred
- $0 + $13,957 related
- Nontaxable benefits
- $0 + $11,819 related
- Filer's total
- $0 + $209,560 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)
- PART I, LINE 3
- THE ORGANIZATION'S CEO IS COMPENSATED BY THE PARENT ORGANIZATION, PENQUIS C.A.P., INC. THIS COMPENSATION IS DETERMINED THROUGH THE USE OF AN INDEPENDENT COMPENSATION SURVEY AND IS APPROVED BY THE BOARD OF DIRECTORS.
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.
-
501(C)(3) · PROMOTE AND PROVIDE AFFORDABLE HOUSING FOR ELDERLY RESIDENTS · ME
Directly controlled by PENQUIS CAP INC
-
501(C)(3) · PROVIDES SERVICES TO SEXUAL ASSAULT VICTIMS AND EDUCATION AND PREVENTION · ME
Directly controlled by PENQUIS CAP INC
-
501(C)(3) · ADMINISTER HEALTH, HOUSING AND SOCIAL SERVICE PROGRAMS · ME
-
501(C)(3) · FINANCING ACTIVITIES IN SUPPORT OF COMMUNITY DEVELOPMENT · ME
Directly controlled by PENQUIS CAP INC
-
501(C)(3) · SUPPORTED ORGANIZATION · ME
Directly controlled by PENQUIS CAP INC
-
PENQUIS MENTAL HEALTH ASSOCIATION
501(C)(3) · MAINTENANCE AND DEVELOPMENT OF SERVICES TO DEVELOPMENTALLY DISABLED · ME
Directly controlled by PENQUIS CAP INC
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.
-
GRAHAM SCHOOL SENIOR HOUSING ASSOCIATES
AFFORDABLE HOUSING · ME · income -$68,123 · assets $987,816
Directly controlled by PENQUIS DEVELOPMENT INC
-
MID-COL APARTMENTS
AFFORDABLE HOUSING · ME · income $20,020 · assets $235,145
Directly controlled by PENQUIS DEVELOPMENT INC
-
PATTERSON HILL HOUSING ASSOCIATES
AFFORDABLE HOUSING · ME · income -$37,833 · assets $1,361,319
Directly controlled by PENQUIS DEVELOPMENT INC
-
WINDWARD HOUSING ASSOCIATES
AFFORDABLE HOUSING · ME · income -$125,406 · assets $921,272
Directly controlled by PENQUIS DEVELOPMENT INC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
LAKEVIEW SENIOR HOUSING ASSOCIATES LP
RELATED · AFFORDABLE HOUSING · ME · 99% owned · share of income $138,800 · share of assets $236,014
Directly controlled by PENQUIS DEVELOPMENT INC
-
NORTHSIDE FAMILY HOUSING ASSOCIATES LP
AFFORDABLE HOUSING · ME
-
VEAZIE VILLAGE SENIOR HOUSING ASSOCIATES LP
AFFORDABLE HOUSING · ME
-
CORUNDEL COMMONS SENIOR HOUSING ASSOCIATES LP
RELATED · AFFORDABLE HOUSING · ME · 100% owned · share of income -$17,517 · share of assets $1,474,410 · general or managing partner
Directly controlled by PENQUIS DEVELOPMENT INC
-
STRAW WAY HOUSING ASSOCIATES LP
AFFORDABLE HOUSING · ME
-
LEONARD LAKE SENIOR HOUSING ASSOCIATES LP
AFFORDABLE HOUSING · ME
-
CHAMBERLAIN PLACE SENIOR HOUSING LP
AFFORDABLE HOUSING · ME
-
ERNST MANOR HOUSING ASSOCIATES LP
AFFORDABLE HOUSING · ME
-
GRANDVIEW HOUSING ASSOCIATES LP
AFFORDABLE HOUSING · ME
-
NEWTON PLACE LP
AFFORDABLE HOUSING · ME
-
PENQUIS FAMILY HOUSING ASSOCIATES LP
RELATED · AFFORDABLE HOUSING · ME · 100% owned · share of income -$17,479 · share of assets $1,604,759 · general or managing partner
Directly controlled by PENQUIS DEVELOPMENT INC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
PENQUIS HOUSING INC
C · HOUSING DEVELOPMENT, ACQUIRE FINANCING · ME · 100% owned
Directly controlled by PENQUIS CAP INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 8 August 2025
- IRS schema version
- 2023v6.0
- Source object
- 202532279349302133
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