Housing Initiatives of New England Corp C/o Cynthia J Milliken Taylor

Nonprofit profile at a glance

EIN
223100803
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Scarborough, ME, USA
Phone
2077748812
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Housing, Shelter N.E.C.

Official website

Reported finances

Revenue
$4,720,182
Expenses
$3,413,907
Assets
$112,736,743
Liabilities
$3,402,544

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • CYNTHIA J MILLIKEN TAYLOR (PRESIDENT)
  • WILLIAM W WALKER (VICE PRESIDENT)

Highest reported compensation

  • CYNTHIA J MILLIKEN TAYLOR (PRESIDENT): $567,541 total reported compensation
  • WILLIAM W WALKER (VICE PRESIDENT): $463,152 total reported compensation
  • KAREN A COWPERTHWAITE (EMPLOYEE): $360,830 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Low-income housing

What it reported doing in 2025

Maintained three (3) quality low-income elderly and family (section 8) projects and preserved them for low-income housing purposes.

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.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 17
  • Transparency & Controls: 65
  • Accountability: 91
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.6%; rating input score 12
  • Program expense ratio: 32%; rating input score 32
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 11th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • 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: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27.7%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 33.02; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 51.1%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: -9.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 6.2% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 11.6% of revenue deployed · 32% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $568K · 8 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 48 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 — Financial Efficiency: Mission deployment rate scored 12/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 32/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.