Community Concepts Finance Corp
- Assets
- $13.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Lewiston, ME
- Founding
- 04/2003
- Data as of
- 09/2021
- EIN
- 01-0540981
Organization Overview
Community Concepts Finance Corp is located in Lewiston, ME. The organization was established in 2003. 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. Community Concepts Finance 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 09/2021, Community Concepts Finance Corp generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.7m during the year ending 09/2021. 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 ENCOURAGE, STIMULATE AND PROMOTE HOUSING DEVELOPMENT AND HOME OWNERSHIP WITHIN MAINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING - CREATES HOMEOWNERS THROUGH LENDING AND HOME BUILDING AND SEEKS DEVELOPMENT OF AFFORDABLE MULTI-FAMILY HOUSING THROUGH VARIOUS FUNDING MECHANISMS. SERVICES INCLUDE LENDING SERVICES, CREDIT AND HOME OWNERSHIP EDUCATION. SIMILAR SERVICES PROVIDED IN THE AREAS OF SMALL BUSINESS LENDING AND ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Frautten Chair | OfficerTrustee | 2 | $0 |
Christopher Paradis Vice Chair | OfficerTrustee | 2.5 | $0 |
Lincoln Jeffers Secretary | OfficerTrustee | 3 | $0 |
Glen Holmes Past President | Officer | 40 | $0 |
Laura Gormley CFO - Cci | Officer | 10 | $0 |
Nathan Libby President | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $15,075 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $575,356 |
| All other contributions, gifts, grants, and similar amounts not included above | $233,463 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $823,894 |
| Total Program Service Revenue | $810,829 |
| Investment income | $3,040 |
| 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 | $1,637,763 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $230,795 |
| 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 | $834,143 |
| Fees for services: Legal | $7,397 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $45,964 |
| Advertising and promotion | $2,891 |
| Office expenses | $26,600 |
| Information technology | $75,265 |
| Royalties | $0 |
| Occupancy | $82,572 |
| Travel | $2,113 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $224,189 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,701,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,264,264 |
| Savings and temporary cash investments | $2,199,706 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $233,532 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,212,465 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $66,719 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $224,613 |
| Total assets | $13,201,299 |
| Accounts payable and accrued expenses | $120,458 |
| Grants payable | $0 |
| Deferred revenue | $85,557 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $21,208 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,883,289 |
| Unsecured mortgages and notes payable | $2,100,000 |
| Other liabilities | $444,899 |
| Total liabilities | $8,655,411 |
| Net assets without donor restrictions | $216,086 |
| Net assets with donor restrictions | $4,329,802 |
| 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 | $13,201,299 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Community Concepts Finance Corp has recieved totaling $17,081.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Broadband Expansion | $11,281 |
Northern Forest Center Inc Concord, NH PURPOSE: Community revitalization applications | $5,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Avesta Housing Management Corporation Portland, ME | $3,765,380 | $8,258,375 |
State Street Housing Preservation Corporation Portland, ME | $24,631,700 | $3,259,892 |
Monadnock Affordable Housing Corporation Keene, NH | $28,241,880 | $6,742,174 |
Affordable Housing Education And Development Inc Littleton, NH | $9,970,385 | $3,045,198 |
Bartlett Woods Inc Rockland, ME | $6,101,412 | $2,284,525 |
Housing Foundation Orono, ME | $3,133,048 | $2,829,758 |
Manchester Neighborhood Housing Services Inc Manchester, NH | $9,007,199 | $1,551,770 |
Laconia Area Community Land Trust Laconia, NH | $15,899,939 | $3,154,056 |
Bath Housing Development Corporation Bath, ME | $12,708,509 | $6,289,688 |
Housing Foundation Phase 1 & 2 Orono, ME | $5,226,993 | $1,967,341 |
Habitat For Humanity Of Greater Portland Inc Portland, ME | $4,759,457 | $2,582,640 |
Community Concepts Finance Corp Lewiston, ME | $13,201,299 | $1,637,763 |