Emc Affordable Housing Preservation
- Assets
- $3.5m
- Revenue
- $797.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Westbrook, ME
- Founding
- 03/2001
- Data as of
- 06/2024
- EIN
- 01-0538683
Organization Overview
Emc Affordable Housing Preservation is located in Westbrook, ME. The organization was established in 2001. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Emc Affordable Housing Preservation 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 06/2024, Emc Affordable Housing Preservation generated $797.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $738.4k during the year ending 06/2024. While expenses have increased by 4.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A 44 UNIT AND A 10 UNIT APARTMENT COMPLEX FOR LOW INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Harrison President | Trustee | 5 | $0 |
Kurt Shangraw Treasurer | Trustee | 5 | $0 |
Coleman Walsh Member | Trustee | 5 | $0 |
Dave Macdonald Secretary | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $53,058 |
| 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 | $53,058 |
| Total Program Service Revenue | $736,162 |
| Investment income | $7,812 |
| 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 | $797,032 |
| 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 | $1,500 |
| Payroll taxes | $0 |
| Fees for services: Management | $122,039 |
| Fees for services: Legal | $2,750 |
| Fees for services: Accounting | $3,341 |
| 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 | $3,612 |
| 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 | $121,729 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $102,482 |
| Insurance | $30,899 |
| All other expenses | $7,240 |
| Total functional expenses | $738,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,097 |
| Savings and temporary cash investments | $187,229 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,480 |
| 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 | $6,714 |
| Net Land, buildings, and equipment | $3,176,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,307 |
| Total assets | $3,516,916 |
| Accounts payable and accrued expenses | $20,172 |
| Grants payable | $0 |
| Deferred revenue | $4,553 |
| 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 | $3,308,043 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,327 |
| Total liabilities | $3,380,095 |
| 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 | $136,821 |
| Total liabilities and net assets/fund balances | $3,516,916 |