South Portland Housing Development Corp

Nonprofit profile at a glance

EIN
222648277
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
South Portland, ME, USA
Phone
2077734140
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities

Reported finances

Revenue
$7,276,855
Expenses
$1,645,882
Assets
$18,900,958
Liabilities
$2,271,052

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

Leadership & pay

13 people listed

Executive titles in this filing

  • JUDY CARPENTER (VICE PRESIDENT)
  • MARY JO JAKAB (PRESIDENT)

People named in this filing

  • ALISON DAME (DIRECTOR)
  • MARK FARRINGTON (DIRECTOR)
  • MICHEL DUVERNAY (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Low-income housing

What it reported doing in 2024

To develop and manage projects providing low income housing to the elderly, handicapped and families.

Operating model

Revenue model
Other-operating. 84% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 99% 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 - 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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 41
  • Transparency & Controls: 80
  • Accountability: 88
  • Sustainability: 90
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.1%; rating input score 22
  • Program expense ratio: 87.3%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 58.6%; rating input score 59; 17th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 77.4%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 11.48; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 18.8% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 22.1% of revenue deployed · 87.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 20 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 22/100.
  • Review — Transparency & Controls: Grant itemization coverage scored 59/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.