Community Concepts Finance Corporation

Nonprofit profile at a glance

EIN
010540981
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lewiston, ME, USA
Phone
2077396545
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,123,448
Expenses
$1,795,923
Assets
$12,132,323
Liabilities
$7,726,491

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • James Martin (CEO - CCI)
  • Natalie Washburn (Interim President)

Highest reported compensation

  • James Martin (CEO - CCI): $259,193 total reported compensation
  • Laura Minkowsky-Gormley (CFO - CCI): $189,404 total reported compensation
  • Natalie Washburn (Interim President): $100,760 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage, stimulate and promote housing development and home ownership within Maine, targeting low income families; To provide alternative financial resources for affordable housing development and low income homeownership; To provide education, training and other services supporting the development of low income housing; And to provide education and financial resources, including loans, for business and economic development activities in urban and rural low-income areas.

What it reported doing in 2024

Housing - Creates homeowners through lending and home building and seeks development of affordable multi-family housing through various funding mechanisms. Services include lending services, credit and home ownership education. Similar services provided in the areas of small business lending and economic development.

Operating model

Revenue model
Earned-program. 61% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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.

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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.4%; rating input score 76
  • Program expense ratio: 90.3%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 15.4%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 6.76; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 76.4% of revenue deployed · 90.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $259K · 10 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $862K reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 10 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.