Hill Street Terrace Housing Corp
- Assets
- $5.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 01/1978
- Data as of
- 12/2021
- EIN
- 01-0347202
Organization Overview
Hill Street Terrace Housing Corp is located in Portland, ME. The organization was established in 1978. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Hill Street Terrace Housing Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Hill Street Terrace Housing Corp generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. 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
PROVIDE LOW-INCOME HOUSING FOR THE ELDERLY AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWN AND OPERATE 24 UNIT APARTMENT COMPLEX, KNOWN AS PINEWOOD APARTMENTS, FOR LOW-INCOME TENANTS.
OWN AND OPERATE 12 UNIT APARTMENT COMPLEX, KNOWN AS HILL STREET TERRACE, FOR LOW-INCOME TENANTS.
OWN AND OPERATE 21 UNIT APARTMENT COMPLEX, KNOWN AS THIRTY BIRCH LANE, FOR LOW-INCOME TENANTS.
OWN AND OPERATE FOUR APARTMENT COMPLEXES FOR LOW-INCOME TENANTS, KNOWN AS MARY ANN MANOR, BROADWAY NORTH APARTMENTS, FOXWELL II AND WAYSIDE PINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana Totman Chief Executive Officer | Officer | 1 | $0 |
Eric Boucher Chief Financial Officer | Officer | 1 | $0 |
Katy Smith VP Of Senior Living | Officer | 1 | $0 |
Kim Farrar VP Of Strategic Initiative | Officer | 1 | $0 |
Rebecca Hatfield Senior VP Of Real Estate | Officer | 1 | $0 |
Tony Cipollone Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $793,157 |
| 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 | $793,157 |
| Total Program Service Revenue | $462,329 |
| Investment income | $615 |
| 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 | $1,256,101 |
| 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 | $85,493 |
| Fees for services: Legal | $13,866 |
| Fees for services: Accounting | $42,498 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $127 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $197,983 |
| Payments to affiliates | $43,283 |
| Depreciation, depletion, and amortization | $196,298 |
| Insurance | $27,625 |
| All other expenses | $55,480 |
| Total functional expenses | $1,284,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,126 |
| Savings and temporary cash investments | $716,850 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,052 |
| 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 | $19,586 |
| Net Land, buildings, and equipment | $4,500,313 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $83,508 |
| Total assets | $5,424,435 |
| Accounts payable and accrued expenses | $139,181 |
| Grants payable | $0 |
| Deferred revenue | $9,003 |
| 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 | $4,825,522 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,912 |
| Total liabilities | $5,029,618 |
| Net assets without donor restrictions | $0 |
| 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 | $394,817 |
| Total liabilities and net assets/fund balances | $5,424,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metro Health Foundation Of New Hampshire Inc Meredith, NH | $23,007,411 | $13,396,555 |
Huntington At Nashua Nashua, NH | $69,976,352 | $16,206,015 |
Seventy-Five State Street Portland, ME | $13,728,048 | $7,315,171 |
Jha Assisted Living Inc Portland, ME | $14,866,848 | $7,038,080 |
Baldwin Senoir Living Londonderry, NH | $22,001,012 | $0 |
Franklin Home For The Aged Association Franklin, NH | $22,009,472 | $3,298,443 |
Bangor Housing Development Corporation Bangor, ME | $11,349,927 | $2,567,289 |
Phillips-Strickland House Corporation Bangor, ME | $8,449,494 | $2,117,015 |
Maple Grove Elderly Housing Corporation Portland, ME | $8,726,293 | $2,128,968 |
Sarah Frye Home Auburn, ME | $1,615,102 | $1,421,566 |
Visions For Creative Housing Solutions Enfield, NH | $5,549,521 | $2,860,844 |
Hill Street Terrace Housing Corp Portland, ME | $5,424,435 | $1,256,101 |