Millinocket Housing Corp is located in Millinocket, ME. The organization was established in 1975. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2019, Millinocket Housing Corp employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Millinocket Housing 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 12/2019, Millinocket Housing Corp generated $644.2k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $783.5k during the year ending 12/2019. While expenses have increased by 2.9% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW COST HOUSING FOR THE NEEDY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MILLINOCKET HOUSING COPRORATION PROVIDES RURAL DEVELOPMENT SUBSIDIZED HOUSING (80 UNITS) TO SENIOR CITIZENS AND HANDICAPPED INDVIDUALS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joseph Clark Site Manager | Officer | 40 | $53,853 |
Rosalie Wentworth Vice President | OfficerTrustee | 0 | $0 |
Arnold Hopkins President | OfficerTrustee | 0 | $0 |
Sandra Willard Secretary/tres | OfficerTrustee | 0 | $0 |
Michael Crowley Director | Trustee | 0 | $0 |
Louise Pelletier Director | Trustee | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $337,523 |
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 | $337,523 |
Total Program Service Revenue | $306,423 |
Investment income | $243 |
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 | $644,189 |
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. | $53,853 |
Compensation of current officers, directors, key employees. | $53,853 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $123,161 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $13,539 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $7,760 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $123 |
Office expenses | $2,483 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $143,403 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $127,017 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $102,885 |
Insurance | $36,638 |
All other expenses | $3,441 |
Total functional expenses | $783,530 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $5,034 |
Savings and temporary cash investments | $363,917 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $2,997 |
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 | $10,463 |
Net Land, buildings, and equipment | $1,136,618 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,519,029 |
Accounts payable and accrued expenses | $402,498 |
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 | $2,020,440 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $26,955 |
Total liabilities | $2,449,893 |
Net assets without donor restrictions | -$930,864 |
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 | $0 |
Total liabilities and net assets/fund balances | $1,519,029 |
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