Avesta Housing Management Corporation is located in Portland, ME. The organization was established in 2019. 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. As of 12/2021, Avesta Housing Management Corporation employed 132 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avesta Housing Management 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 12/2021, Avesta Housing Management Corporation generated $8.3m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $8.3m during the year ending 12/2021. While expenses have increased by 7.9% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MANAGEMENT OF LOW INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL EXPENSES RELATE TO MANAGEMENT OF LOW INCOME ELDERLY HOUSING AND SECTION 8 EXISTING HOUSING RENTAL PROGRAMS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dana Totman Chief Executive Officer | Officer | 1 | $0 |
Kim Farrar VP Of Strategic Initiative | Officer | 1 | $0 |
Eric Boucher Chief Financial Officer | Officer | 1 | $0 |
Rebecca Hatfield Senior VP Of Real Estate | Officer | 1 | $0 |
Katy Smith VP Of Senior Living | Officer | 1 | $0 |
Tony Cipollone Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $6,300 |
All other contributions, gifts, grants, and similar amounts not included above | $83,350 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $89,650 |
Total Program Service Revenue | $8,168,725 |
Investment income | $0 |
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 | $8,258,375 |
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 | $4,757,888 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $1,029,672 |
Payroll taxes | $347,173 |
Fees for services: Management | $0 |
Fees for services: Legal | $18,090 |
Fees for services: Accounting | $6,800 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $83,681 |
Advertising and promotion | $545 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $186,724 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $40,022 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $107,466 |
Insurance | $35,772 |
All other expenses | $56,047 |
Total functional expenses | $8,295,246 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $435,689 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $6,449 |
Prepaid expenses and deferred charges | $40,318 |
Net Land, buildings, and equipment | $2,060,307 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,222,616 |
Total assets | $3,765,380 |
Accounts payable and accrued expenses | $496,159 |
Grants payable | $0 |
Deferred revenue | $1,211 |
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 | $1,118,057 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $766,884 |
Total liabilities | $2,382,311 |
Net assets without donor restrictions | $1,358,096 |
Net assets with donor restrictions | $24,973 |
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 | $3,765,380 |
Over the last fiscal year, we have identified 1 grants that Avesta Housing Management Corporation has recieved totaling $5,000.
Awarding Organization | Amount |
---|---|
Biddeford And Mechanics Savings Charitable Foundation Auburn, ME PURPOSE: GENERAL PURPOSE | $5,000 |
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 |