Housing Initiatives Of New England is located in Scarborough, ME. The organization was established in 1991. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Housing Initiatives Of New England employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Initiatives Of New England 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, Housing Initiatives Of New England generated $7.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $3.6m during the year ending 12/2021. 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
LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED EIGHT (8) QUALITY LOW-INCOME ELDERLY AND FAMILY (SECTION 8) PROJECTS AND PRESERVED THEM FOR LOW-INCOME HOUSING PURPOSES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Cynthia J Milliken Taylor President | Trustee | 40 | $333,586 |
William W Walker Employee | Officer | 40 | $211,699 |
David Silk Chairperson | Trustee | 5 | $0 |
Timothy Hassett Treasurer | Trustee | 5 | $0 |
Jane O'rourke Secretary | Trustee | 5 | $0 |
Marc Poulin Vice President | Trustee | 5 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Stewart Property Management Management And Administrative | 12/30/18 | $371,741 |
Crockett Taylor And Co Consulting | 12/30/18 | $196,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $1,829,595 |
All other contributions, gifts, grants, and similar amounts not included above | $100,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,929,595 |
Total Program Service Revenue | $2,847,673 |
Investment income | $1,140,050 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,113,194 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $7,030,512 |
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. | $545,285 |
Compensation of current officers, directors, key employees. | $545,285 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $217,722 |
Pension plan accruals and contributions | $172,496 |
Other employee benefits | $120,577 |
Payroll taxes | $42,480 |
Fees for services: Management | $159,957 |
Fees for services: Legal | $5,392 |
Fees for services: Accounting | $37,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $75,000 |
Advertising and promotion | $773 |
Office expenses | $49,020 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $13,702 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $563,672 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $509,308 |
Insurance | $79,736 |
All other expenses | $319,191 |
Total functional expenses | $3,580,578 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $805,629 |
Savings and temporary cash investments | $24,500,343 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $27,961 |
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 | $31,313 |
Net Land, buildings, and equipment | $12,792,169 |
Investments—publicly traded securities | $0 |
Investments—other securities | $7,695,277 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $29,876,465 |
Total assets | $75,729,157 |
Accounts payable and accrued expenses | $218,363 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $11,096,269 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $464,967 |
Total liabilities | $11,779,599 |
Net assets without donor restrictions | $63,991,436 |
Net assets with donor restrictions | -$41,878 |
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 | $75,729,157 |
Over the last fiscal year, we have identified 1 grants that Housing Initiatives Of New England has recieved totaling $100,000.
Awarding Organization | Amount |
---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $100,000 |
Organization Name | Assets | Revenue |
---|---|---|
The Prospect-Woodward Home Keene, NH | $98,470,957 | $10,325,465 |
Group Main Stream Inc Westbrook, ME | $5,117,490 | $12,271,030 |
Scott-Farrar Home Peterborough, NH | $20,723,129 | $5,884,459 |
Housing Initiatives Of New England Scarborough, ME | $75,729,157 | $7,030,512 |
Maine Childrens Home For Little Wanderers Waterville, ME | $10,545,636 | $2,193,841 |
Sunset Home Of Waterville Waterville, ME | $4,930,472 | $1,213,305 |
Cei Housing Inc Brunswick, ME | $2,587,340 | $825,661 |
Crisis Center Of Central New Hampshire Concord, NH | $825,782 | $928,604 |
Hancock County Homes Foundation Ellsworth, ME | $1,528,547 | $695,890 |
Deborah Lincoln House Belfast, ME | $4,817,279 | $222,148 |
Courtyard Affordable Housing Corp Augusta, ME | $3,165,101 | $653,150 |
Mary A Sweeney Home Nashua, NH | $8,455,342 | $717,868 |