Auburn Residential Development Corporation
- Assets
- $7.3m
- Revenue
- $217.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Auburn, ME
- Founding
- 04/1989
- Data as of
- 03/2024
- EIN
- 01-0439009
Organization Overview
Auburn Residential Development Corporation is located in Auburn, ME. The organization was established in 1989. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Auburn Residential Development Corporation 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 03/2024, Auburn Residential Development Corporation generated $217.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $123.8k during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FOR LOW-INCOME, ELDERLY, DISABLED PERSONS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL PROGRAM - PROVIDE SUBSIDIZED HOUSING TO LOW-INCOME TENANTS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Thurston Vice President | Trustee | 1 | $0 |
Arthur Wing President | Trustee | 1 | $0 |
Martin Szydlowski Secretary/treasurer | Trustee | 1 | $0 |
Nicholas Gagnon Director | Trustee | 1 | $0 |
Jennifer Kimble Director | Trustee | 1 | $0 |
Ron Spofford 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 | $106,093 |
| Investment income | $115,397 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $217,038 |
| 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 | $10,199 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,020 |
| 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 | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,122 |
| Insurance | $8,667 |
| All other expenses | $1,016 |
| Total functional expenses | $123,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,042,166 |
| Savings and temporary cash investments | $573,678 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,068 |
| 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 | $2,381 |
| Net Land, buildings, and equipment | $292,361 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,374,131 |
| Total assets | $7,293,785 |
| Accounts payable and accrued expenses | $8,450 |
| Grants payable | $0 |
| Deferred revenue | $10 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,130 |
| Total liabilities | $18,590 |
| Net assets without donor restrictions | $7,275,195 |
| 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 | $7,293,785 |