Kennebunkport Heritage Housing Trust 2

Nonprofit profile at a glance

EIN
841869040
IRS 990-EZ coverage
2022–2024
Forms available
Form 990 2023, Form 990-EZ 2024
Location
Kennebunkport, ME, USA
Phone
2074322541
Rating
93
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$20,385
Expenses
$49,354
Assets
$401,468
Liabilities
$0

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

Leadership & pay

17 people listed

Executive titles in this filing

  • Larissa Crockett (Executive Director and Director (non-voting))
  • Thomas McClain (President and Director)
  • Leslie Stoeffler (Vice President and Director)

People named in this filing

  • Larissa Crockett (Executive Director and Director (non-voting))
  • Thomas McClain (President and Director)
  • Leslie Stoeffler (Vice President and Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide and maintain affordable housing in Kennebunkport, Kennebunk, and Arundel.

What it reported doing in 2024

In a joint project with the Kennebunkport Heritage Housing Trust, the Kennebunkport Heritage Housing Trust 2 acquired a donation of land from the town of Kennebunkport, Maine. The organizations have started the process to build 6 affordable housing units on this approximately 5-acre parcel and plan to finish the process in 2025. The expenses incurred in 2024 were for a settlement fee and legal fees to ensure clear title to the property, municipal planning board fees, preliminary site engineering, and a construction loan origination fee.

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.6%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -142.1%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 8.13; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 161.1%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -12.6% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -71.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 18.8% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $49K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.