Jordan Bay Place C/o Avesta Housing

Overview

Mission

Provide affordable housing suited to the special needs and requirements of eligible occupants as determined by the u.s. Department of hud.

What it reported doing in 2024

Development and management of a 24 unit apartment complex in raymond, Maine. The facility is suited for individuals with special needs and living requirements.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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
010531223
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Portland, ME, USA
Phone
2075537777
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 65
  • Accountability: 91
  • Sustainability: 29
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -27.9%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 3.34; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 58.9%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 3.6% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $319K in reported program spending
  • Leadership: top reported pay $446K · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 90 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

23 people listed

Highest reported compensation

  • REBECCA HATFIELD (PRESIDENT (PAST)): $445,503 total reported compensation
  • ERIC BOUCHER (INTERIM PRESIDENT AND CEO): $253,029 total reported compensation
  • KATY SMITH (VP OF SENIOR LIVING): $207,649 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.