St Albans Housing Corporation
- Assets
- $924.0k
- Revenue
- $127.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Bangor, ME
- Founding
- 11/1976
- Data as of
- 12/2021
- EIN
- 01-0345239
Organization Overview
St Albans Housing Corporation is located in Bangor, ME. The organization was established in 1976. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Albans Housing Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, St Albans Housing Corporation generated $127.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $145.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAFE, CLEAN AND DECENT HOUSING TO LOW INCOME ELDERLY PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ST. ALBANS HOUSING CORPORATION IS A LOW-INCOME HOUSING PROJECT WITH 16 UNITS. THESE UNITS ARE SUBSIDIZED BY RURAL DEVELOPMENT BASED ON TENANT INCOME LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Bridge President | OfficerTrustee | 1 | $0 |
Allen Fisher Vice Preside | OfficerTrustee | 1 | $0 |
Jim Thorne Treasurer | OfficerTrustee | 1 | $0 |
Michael Wiers Secretary | OfficerTrustee | 1 | $0 |
Brian Bowman Director | Trustee | 1 | $0 |
Tiffany Dodge Director | Trustee | 1 | $0 |
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 | $125,478 |
| Investment income | $399 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $127,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $12,702 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,516 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,607 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,676 |
| Insurance | $10,979 |
| All other expenses | $13,323 |
| Total functional expenses | $145,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,620 |
| Savings and temporary cash investments | $68,199 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,968 |
| Net Land, buildings, and equipment | $833,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $923,977 |
| Accounts payable and accrued expenses | $4,805 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,047,958 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,410 |
| Total liabilities | $1,087,173 |
| Net assets without donor restrictions | -$163,196 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $923,977 |
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|---|---|---|
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Mattanawcook Terrace Housing Corp Bangor, ME | $1,039,438 | $213,603 |
Norridgewock Housing Corp Norridgewock, ME | $462,590 | $198,951 |
Easton Housing Corporation Easton, ME | $246,896 | $0 |