Fort Fairfield Residential Development Corporation
- Assets
- $1.2m
- Revenue
- $273.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Fairfield, ME
- Founding
- 05/1991
- Data as of
- 06/2021
- EIN
- 22-3066435
Organization Overview
Fort Fairfield Residential Development Corporation is located in Fort Fairfield, ME. The organization was established in 1991. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Fairfield 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 06/2021, Fort Fairfield Residential Development Corporation generated $273.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $229.8k during the year ending 06/2021. 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
THE ORGANIZATION EXISTS TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION EXISTS TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES
OPERATION OF A 25 UNIT LOW INCOME HOUSING PROJECT IN FORT FAIRFIELD, ME - MORNINGVIEW LLC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Bernard Director | Trustee | 1 | $0 |
Milton Ross Director | Trustee | 1 | $0 |
Cindy Thibeau Director | Trustee | 1 | $0 |
Paul Cormier Director | Trustee | 1 | $0 |
Tom Towel Director | Trustee | 1 | $0 |
David Armstrong Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $171,743 |
| Investment income | $2,281 |
| 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 | $273,061 |
| Statement of Expenses | |
|---|---|
| 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 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 | $20,013 |
| Fees for services: Legal | $1,572 |
| Fees for services: Accounting | $6,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $129 |
| Office expenses | $3,962 |
| 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 | $48,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,646 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $229,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,258 |
| Savings and temporary cash investments | $80,026 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,345 |
| 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 | $8,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,569 |
| Total assets | $1,168,617 |
| Accounts payable and accrued expenses | $4,068 |
| Grants payable | $0 |
| Deferred revenue | $6,949 |
| 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 | $770,168 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,995 |
| Total liabilities | $791,180 |
| 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 |
| Total liabilities and net assets/fund balances | $377,437 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
West Oxford Agricultural Society Fryeburg, ME | $3,979,496 | $4,490,568 |
Deerfield Fair Association Inc Deerfield, NH | $6,809,615 | $2,535,267 |
Cumberland Farmers Club Cumberland, ME | $956,896 | $1,350,925 |
Windsor Fair Farmingdale, ME | $1,008,350 | $1,471,535 |
Skowhegan State Fair Skowhegan, ME | $6,125,875 | $1,549,917 |
Hopkinton State Fair Association Contoocook, NH | $1,258,390 | $1,344,000 |
Coos & Essex Agricultural Society Lancaster, NH | $613,019 | $668,577 |
Union Fair Society Union, ME | $353,780 | $681,776 |
Sandwich Fair Assn Inc Center Sandwich, NH | $2,428,760 | $632,013 |
North Haverhill Fair Association North Haverhill, NH | $1,148,618 | $429,493 |
Northern Maine Fair Association Presque Isle, ME | $404,750 | $382,942 |
Fort Fairfield Residential Development Corporation Fort Fairfield, ME | $1,168,617 | $273,061 |