October Corporation

Organization Overview

October Corporation is located in Portland, ME. The organization was established in 1999. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. October Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.

For the year ending 12/2021, October Corporation generated -$1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.1%) each year.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO HOLD TITLE TO REAL ESTATE ON BEHALF OF LIBRA FOUNDATION; RECEIVE ALL NET RENTAL INCOME AND DISTRIBUTE IT TO LIBRA FOUNDATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION RECEIVED NET RENTAL INCOME FROM PROPERTIES HELD FOR THE LIBRA FOUNDATION.


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Board, Officers & Key Employees

Name (title)Compensation
Craig N Denekas
President, Director
$12,000
Pendred E Noyce
Director
$12,000
Owen W Wells
Director
$12,000
William J Ryan
Director
$12,000
Jere G Michelson
Vice-President
$0
Erik K Hayward
Executive Vice-President
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Doten's Construction
Construction
$522,366
Seabreeze Property Services
Snow Plowing
$200,060
Country Pride Cleaning
Cleaning
$170,068
Lm Electrical Inc
Electrical Contractor
$106,920
Glidden Roofing Corp
Roofing Contractor
$107,444
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $315
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$1,849,294
Net Gain/Loss on Asset Sales $451,226
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue -$1,397,753

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