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Nonprofiteer
← AVESTA HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by AVESTA HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$13,921,623
Total expenses
$12,679,009
Contributions and grants received
$5,691,474
Grants paid
$0
Program service revenue
$7,207,147
Investment income
$1,023,002
Other revenue
$0
Total assets, end of year
$77,344,426
Total liabilities, end of year
$52,341,391
Net assets or fund balances, end of year
$25,003,035
Program services expenses (Part IX)
$12,679,009
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$12,679,009

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)

    $5,006,211

  • 1f · All other contributions, gifts and grants

    $685,263

  • 2a · Program service revenue: DEVELOPMENT OPERATIONS

    total $4,133,943 · related or exempt $4,133,943

  • 2b · Program service revenue: TENANT RENTS

    total $2,133,910 · related or exempt $2,133,910

  • 2c · Program service revenue: LAUNDRY & MISCELLANEOUS

    total $570,249 · related or exempt $570,249

  • 2d · Program service revenue: STATE REFUNDABLE CREDITS

    total $369,045 · related or exempt $369,045

  • 3 · Investment income

    total $139,915 · related or exempt $139,915

  • 7a · Gross sales of assets other than inventory

    other assets $4,599,801

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

    other assets $3,716,714

  • 7c · Gain or loss

    other assets $883,087

  • 7d · Net gain or loss

    total $883,087 · related or exempt $883,087

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $901,015 · program services $901,015

  • 7 · Other salaries and wages

    total $3,548,869 · program services $3,548,869

  • 9 · Other employee benefits

    total $692,362 · program services $692,362

  • 10 · Payroll taxes

    total $292,730 · program services $292,730

  • 11a · Fees: management

    total $314,848 · program services $314,848

  • 11b · Fees: legal

    total $74,638 · program services $74,638

  • 11c · Fees: accounting

    total $159,160 · program services $159,160

  • 12 · Advertising and promotion

    total $102,616 · program services $102,616

  • 14 · Information technology

    total $31,277 · program services $31,277

  • 17 · Travel

    total $36,438 · program services $36,438

  • 20 · Interest

    total $1,218,657 · program services $1,218,657

  • 22 · Depreciation, depletion and amortization

    total $1,117,155 · program services $1,117,155

  • 23 · Insurance

    total $150,735 · program services $150,735

  • 24a · Other expenses: UTILITIES

    total $812,389 · program services $812,389

  • 24b · Other expenses: CONTRACTED SERVICES

    total $774,868 · program services $774,868

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $636,450 · program services $636,450

  • 24d · Other expenses: ADMINISTRATIVE & MISCEL

    total $413,944 · program services $413,944

  • 24e · All other expenses

    total $1,400,858 · program services $1,400,858

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,102,743 · end of year $4,938,662

  • 2 · Savings and temporary cash investments

    beginning of year $3,019,241 · end of year $3,426,193

  • 4 · Accounts receivable

    beginning of year $539,304 · end of year $260,327

  • 9 · Prepaid expenses and deferred charges

    beginning of year $154,413 · end of year $169,718

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

    $44,933,288

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

    $19,269,889

  • 10c · Land, buildings and equipment, net

    beginning of year $22,108,435 · end of year $25,663,399

  • 15 · Other assets

    beginning of year $37,487,459 · end of year $42,886,127

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,883,237 · end of year $2,912,938

  • 19 · Deferred revenue

    beginning of year $347,427 · end of year $344,784

  • 23 · Secured mortgages and notes payable

    beginning of year $43,130,317 · end of year $47,780,087

  • 25 · Other liabilities

    beginning of year $1,118,995 · end of year $1,303,582

  • 27 · Net assets without donor restrictions

    beginning of year $22,931,619 · end of year $25,003,035

Mission and programs · 2022

Mission

DEVELOPMENT AND MAINTENANCE OF LOW INCOME HOUSING.

  • ALL EXPENSES RELATE TO DEVELOPMENT AND MAINTENANCE OF LOW INCOME ELDERLY HOUSING AND SECTION 8 EXISTING HOUSING RENTAL PROGRAMS.

    Expenses $12,679,009 · Revenue $8,230,149

As filed on the 2022 return.

Listed in Part VII

  • Tony Cipollone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Culley

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Janice De Lima

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kimberly Twitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Renee Fay-Leblanc MD

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lori Parham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Timothy Agnew

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Peter Bass

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chomba Kaluba

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Elkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrea Patstone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katherine Griffin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Raissa Kaze

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Shaw

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nathan Poore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Doug Stockbridge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Pitegoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amy Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dana Totman

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $285,690
    From this org
    $238,190
    From related orgs
    $0
    Other
    $47,500
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $238,190
    Bonus
    $0
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $20,500
    Filer's total
    $285,690

  • Kim Farrar

    VP OF STRATEGIC INITIATIVE

    Total calculated
    $157,386
    From this org
    $141,377
    From related orgs
    $0
    Other
    $16,009
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $141,377
    Bonus
    $0
    Other
    $0
    Deferred
    $16,009
    Nontaxable benefits
    $0
    Filer's total
    $157,386

  • Eric Boucher

    CHIEF FINANCIAL OFFICER

    Total calculated
    $219,194
    From this org
    $178,194
    From related orgs
    $0
    Other
    $41,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $178,194
    Bonus
    $0
    Other
    $0
    Deferred
    $20,500
    Nontaxable benefits
    $20,500
    Filer's total
    $219,194

  • Rebecca Hatfield

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $226,435
    From this org
    $185,435
    From related orgs
    $0
    Other
    $41,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $185,435
    Bonus
    $0
    Other
    $0
    Deferred
    $20,500
    Nontaxable benefits
    $20,500
    Filer's total
    $226,435

  • Katy Smith

    VP OF SENIOR LIVING

    Total calculated
    $184,819
    From this org
    $157,819
    From related orgs
    $0
    Other
    $27,000
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $157,819
    Bonus
    $0
    Other
    $0
    Deferred
    $27,000
    Nontaxable benefits
    $0
    Filer's total
    $184,819

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

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.

  • SOUTH HIGH STREET ASSOCIATES

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • YC PINES LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • YC MANCHESTER WOODS LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • YC COTTAGE ASSOCIATES LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA FORE RIVER HOUSING LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA PEARL STREET ONE LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA BRICK HILL HEIGHTS LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA STEPHEN EATON REDEVELOPMENT LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA COUSENS HOUSING DEVELOPMENT CORP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA FLORENCE HOUSE LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA MUNJOY COMMONS LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA CASCADE BROOK LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA PEARL STREET TWO LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA EMERY SCHOOL LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • RIVERSIDE HOUSING ASSOCIATES LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA OAK STREET LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA STONECREST LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA HYACINTH LP

    RELATED · AFFORDABLE HOUSING · ME · general or managing partner

  • AVESTA 409 CUMBERLAND LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA NEW MARBLEHEAD ONE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA YOUNG STREET LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA ONE MEETING PLACE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA LINCOLN GREEN LP

    RELATED · AFFORDABLE HOUSING · ME

  • PENINSULA COMMUNITY LP 2

    RELATED · AFFORDABLE HOUSING · ME

  • BAYSIDE EAST LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA GOLDEN PARK MAPLE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA ANTRIM VILLAGE LP

    RELATED · AFFORDABLE HOUSING · ME

  • PENINSULA COMMUNITY LP 3

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA WASHINGTON AVE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA BUTLER PAYSON LP

    RELATED · AFFORDABLE HOUSING · ME

  • 6 MEETING PLACE DRIVE EXETER LP

    RELATED · AFFORDABLE HOUSING · NH

  • AVESTA STEEPLE SQUARE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA MCINTYRE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA BISHOP STREET LP

    RELATED · AFFORDABLE HOUSING · ME

  • BAYSIDE ANCHOR APARTMENTS LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA BLACKSTONE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA THREE MEETING PLACE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA MEADOWS ONE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA CARLETON LP

    RELATED · AFFORDABLE HOUSING · ME

  • BARTLETT CIRCLE 2 LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA MEADOWS TWO LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA SOUTHGATE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA FOX SCHOOL LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA DEERING PLACE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA WESTBROOK STREET ONE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA 977 BRIGHTON LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA LIVERMORE TERRACE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA UNITY VILLAGE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA WESTBROOK STREET TWO LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA HILLSIDE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA VALLEY STREET LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA RIVER TURN ONE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA WILLOW SPRINGS LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA SNOW SCHOOL LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA US ROUTE ONE LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA SEAVEY STREET LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA CENTRAL AND CROWLEY LP

    RELATED · AFFORDABLE HOUSING · ME

  • AVESTA MEADOWVIEW II LP

    RELATED · AFFORDABLE HOUSING · ME

Related corporations and trusts

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

  • AVESTA CONSULTING SERVICES INC

    C · AFFORDABLE HOUSING · ME

  • PINETREE HOUSING DEVELOPMENT I LLC

    C · AFFORDABLE HOUSING · ME

  • PINECONE HOUSING CORPORATION

    C · AFFORDABLE HOUSING · ME

  • PINENEEDLE HOUSING DEVELOPMENT LLC

    C · AFFORDABLE HOUSING · ME

  • BAYSIDE ANCHOR DEVELOPMENT COMPANY LLC

    C · AFFORDABLE HOUSING · ME

  • BC 2 GP INC

    C · AFFORDABLE HOUSING · ME

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313179349301831

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