Seventy-Five State Street

Overview

Mission

75 State Street's mission is to promote the independence, dignity, and individuality of older people of all financial abilities by offering stimulating and supportive programs and services in a gracious, urban, residential setting.

What it reported doing in 2024

All expenses relate to the provision of a continuum of care that includes Independent Living and Assisted Living for older adults in Portland, Maine. 75 State Street provides a wide variety of amenities and services tailored for residents living independently and residents needing additional assistance. 75 State Street provides a quality and safe home for older adults who wish to live in an active, vibrant, urban community. We offer an array of life enrichment activities from exercise classes to organized games. Art workshops and conversation groups inspire creativity and make connections between neighbors.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
010211791
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Portland, ME, USA
Phone
2077722675
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Official website

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 86.9%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.92; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 86.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.9M in reported program spending
  • Leadership: top reported pay $220K · 29 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $2M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 95 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

29 people listed

Highest reported compensation

  • Katy Smith (Administrator): $220,086 total reported compensation
  • Kerri Aguiar (Past Clinical Manager): $135,991 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.