Housing Foundation, Disp in Orono, Maine (ME)

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Housing Foundation, Disp
Employer Identification Number (EIN)010367546
Name of OrganizationHousing Foundation
Secondary NameDisp
Address353 Main St, Orono, ME 04473-3444
ActivitiesLow and moderate income housing, Instruction and guidance on housing
SubsectionCharitable Organization, Educational Organization
Ruling Date09/1979
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,396,656
Amount of Income$639,304
Form 990 Revenue Amount$639,304
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Public Housing Facilities


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Amount of income in 2014: $639,304 (it was $451,290 in 2013)
This organization: 

 $639,304
Other organizations performing similar types of work: 

 $830,011

Assets in 2014: $3,396,656 (it was $3,228,359 in 2013)
Housing Foundation, Disp: 

 $3,396,656
Other organizations performing similar types of work: 

 $2,556,923

Expenses in 2014: $542,213
This organization: 

 $542,213
Other organizations performing similar types of work: 

 $814,088

Income to expenses ratio in 2014: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2014: 76.7%
This organization: 

 76.7%
Other organizations performing similar types of work: 

 0.2%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 109670
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return00
Did the organization file all required federal employment tax returns?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0$0
Total reportable compensation from related organizations$5,023$5,169
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
2011201220132014
Total revenue$562,116$560,233$451,290$639,304
Contributions, Gifts, Grants and Other Similar Amounts$432,503$427,178$309,052$490,571
Program Service Revenue$126,114$129,668$135,998$140,200
Lessors of Residential Buildings and Dwellings $135,998$140,200
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$895$623$1,992$4,276
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$0$0$0$0
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$2,604$2,764$4,248$4,257
Other Activities Related to Real Estate $4,248$4,257
All other revenue$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$472,968$460,010$477,510$542,213
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$7,940$4,855$5,023$5,169
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$29,041$33,548$31,958$36,831
Pension plan accruals and contributions$0$0
Other employee benefits$0$0
Payroll taxes$0$0$0$0
Fees for services (non-employees)
Management$0$0
Legal$0$0
Accounting$0$0
Lobbying$0$0
Professional fundraising services$0$0$0$0
Investment management fees$0$0
Other$0$0
Advertising and promotion$0$0
Office expenses$0$0
Information technology$0$0
Royalties$0$0
Occupancy$0$0
Travel$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$114,792$122,940
Payments to affiliates$0$0
Depreciation, depletion, and amortization$67,757$99,621
Insurance$0$0
Other expenses$90,271$96,289
Other expenses$71,355$68,288
Other expenses$47,095$45,964
Other expenses$28,382$39,168
Other expenses$20,877$27,943
Balance Sheet
2011201220132014
Total assets$710,348$768,767$3,228,359$3,396,656
Cash - non-interest-bearing$2,658,048$2,338,331
Savings and temporary cash investments$0$0
Pledges and grants receivable, net$0$0
Accounts receivable, net$363$640
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$1,859$1,980
Land, buildings, and equipment: cost or other basis$303,451$798,738
Investments - publicly traded securities$0$0
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$264,638$256,967
Other assets$0$0
Total liabilities$1,204,762$1,162,958$3,648,770$3,722,216
Accounts payable and accrued expenses$45,482$174,505
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$1,149,488$1,096,555$3,592,973$3,538,246
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$10,315$9,465
Total net assets or fund balances$-494,414$-394,191$-420,411$-325,560
Unrestricted net assets$-420,411$-325,560
Temporarily restricted net assets$0$0
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$2,062,737
Subtotal Support$2,062,737
Gifts, grants, contributions, and membership fees received$2,062,737
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$2,085,964
Public Support$2,062,737
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$6,727
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$16,500
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Avesta Housing Development Corporation307 Cumberland Ave, Portland, ME 04101-4920ME1976-11$13,637,362
2Park-Danforth777 Stevens Avenue, Portland, ME 04103-2675ME1986-09$8,180,077
3Village Square Housing Corporation307 Cumberland Ave, Portland, ME 04101-4920ME1993-06$2,250,907
4Housing Foundation Phase 1 & 2353 Main St, Orono, ME 04473-3444ME1969-11$1,800,794
5St Marks Towers IncOne Towers Plaza, Brunswick, GA 31520-4461GA1979-12$1,569,853
6Noble Housing Corporation307 Cumberland Ave, Portland, ME 04101-4920ME1993-12$144,233
7Woodstock Manor Housing Development Fund Corporation755 Palisade Avenue, Yonkers, NY 10703-1800NY1985-01$8,184,759
8Tg 110 Inc8610 N New Braunfels Ave Ste 500, San Antonio, TX 78217-6397TX2002-11$3,238,697
9Progressive Baptist Church Housing Foundation Inc, T E Brown Apartments3601 South Wells, Chicago, IL 60609-1867IL1979-08$1,957,825
10St George Tower Ltd2160 E Maple Rd, Troy, MI 48083-4400MI1979-02$1,701,039
11Sebco Housing Development Fund, Ian Resnick - Controller885 Bruckner Blvd, Bronx, NY 10459-5201NY1983-11$1,427,261
12Saratoga County Rural Preservation Company IncCompany Inc 1214 Saratoga Rd Rt 50, Ballston Spa, NY 12020NY1983-08$1,310,983
13Rio Concho Manor Inc401 Rio Concho Drive, San Angelo, TX 76903-5505TX1988-10$1,251,522
14Two Hundred Seventy-Two To Two Hundred Eighty Linwood Avenue Inc276 Linwood Ave, Buffalo, NY 14209-1838NY1976-02$1,111,823
15South Atlantic Housing Of Brevard IncPO BOX 450049, Atlanta, GA 31145-0049GA1984-11$1,071,764
16St Justins Plaza Inc120 Boggs Ave, Pittsburgh, PA 15211-2059PA1978-08$1,061,209
17Thomas Campbell Apartments Inc, Nba Thomas Campbell850 Beech St, Washington, PA 15301-6542PA1951-07$905,912
18Tanner Gardens11260 N Tatum Blvd Ste 149, Phoenix, AZ 85028-2308AZ1981-01$864,018
19Housing Foundation, Disp353 Main St, Orono, ME 04473-3444ME1979-09$639,304
20Marsh Island CorporationPO BOX 404, Old Town, ME 04468-0404ME1998-12$53,114
Number of organizations performing similar types of work
Alaska2
Alabama6
Arkansas3
Arizona12
California98
Colorado15
Connecticut8
District of Columbia5
Delaware2
Florida33
Georgia20
Hawaii13
Iowa10
Idaho3
Illinois33
Indiana7
Kansas4
Kentucky4
Louisiana12
Massachusetts22
Maryland8
Maine7
Michigan22
Minnesota19
Missouri16
Mississippi5
Montana3
North Carolina12
North Dakota2
Nebraska3
New Hampshire1
New Jersey23
New Mexico6
Nevada1
New York76
Ohio46
Oklahoma2
Oregon9
Pennsylvania46
Rhode Island4
South Carolina4
South Dakota4
Tennessee10
Texas36
Utah1
Virginia26
Vermont5
Washington11
Wisconsin12
West Virginia1
Wyoming1
International3
Total737
All affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
CentralHousing Foundation Phase 1 & 2353 Main St, Orono, ME 04473-3444ME1969-11$1,800,794
SubordinateHousing Foundation, Group Return353 Main St, Orono, ME 04473-3444ME1979-09$2,206,537
SubordinateHousing Foundation, Disp353 Main St, Orono, ME 04473-3444ME1979-09$639,304
SubordinateHousing Foundation, Hampden353 Main St, Orono, ME 04473-3444ME1979-09$328,340
SubordinateHousing Foundation, Newburgh Seniors Housing Corp353 Main St, Orono, ME 04473-3444ME1979-09$247,292
SubordinateHousing Foundation, Georginas House353 Main St, Orono, ME 04473-3444ME1969-11$54,873
SubordinateHousing Foundation, 289 Ohio Street353 Main St, Orono, ME 04473-3444ME1979-09$41,849
SubordinateHousing Foundation, Fern 38 Street353 Main St, Orono, ME 04473-3444ME1979-09$16,057
SubordinateHousing Foundation, Chdo353 Main St, Orono, ME 04473-3444ME1979-09$0
SubordinateHousing Foundation, Management & Development Ii353 Main St, Orono, ME 04473-3444ME1969-11$0
SubordinateHousing Foundation, Phase Iii353 Main St, Orono, ME 04473-3444ME1979-09$0
SubordinateHousing Foundation, Quick Fix Inc353 Main St, Orono, ME 04473-3444ME1979-09$0
Number of affiliated organizations
Maine12
Total12

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