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Fort Kent Housing INC

Not tax-deductible

Fort Kent, ME501(c)(4)EIN 01-0280430Revenue $530K in FY2024

On file with the IRSPo Box 466, 04743-0466 · Fort Kent, METax-exempt since Feb 1968

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To provide Housing for elderly residents of Fort Kent

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $65K a year · 13% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$530K
+0.1% vs prior year
Spent
$601K
To programs
100%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$530K
FY2024+0.1%
Tap a bar for its year
Revenue by fiscal year
FY2020$471K
FY2021$426K
FY2022$489K
FY2023$530K
FY2024$530K
Expenses
$601K
FY2024-0.2%
Tap a bar for its year
Expenses by fiscal year
FY2020$487K
FY2021$534K
FY2022$549K
FY2023$602K
FY2024$601K
Net assets
$1.8M
FY2024▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.1M
FY2021$2.0M
FY2022$2.0M
FY2023$1.9M
FY2024$1.8M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1968.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $601K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ellery Labbe
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Fort Kent Housing INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides housing for elderly residents in Fort Kent.

Provided by the organization

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1 program · $601K · in their own filed words · FY2024
01

To provide housing for eldery residents of fort kent, maine

$601Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$530K
Ln 12
Fees for servicesLn 2g$519K
Investment incomeLn 3$11K
Money outPt IX
$601K
Ln 25
Programscol B$601K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$517K
Total assetsLn 16$3.0M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$519K
Investment incomeLn 3$11K
Total revenueLn 12$530K
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$502K
Cash and savings togetherLn 1–2$517K
Land, buildings, equipmentLn 10c$2.5M
Total assetsLn 16$3.0M
LiabilitiesLn 26$1.2M
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$563K$517K
Land, buildings, equipmentLn 10c$2.6M$2.5M
Total assetsLn 16$3.2M$3.0M
LiabilitiesLn 26$1.3M$1.2M
Net assetsLn 32$1.9M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$46K$46K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$51K$51K
OccupancyLn 16$229K$229K
InterestLn 20$47K$47K
Depreciation, depletion and amortizationLn 22$140K$140K
InsuranceLn 23$28K$28K
Other expenses (24a–d)Ln 24$47K$47K
Total functional expensesLn 25$601K$601K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $530K$601K−$70K$1.8M 990 PDF
FY2023 $530K$602K−$72K$1.9M 990 PDF
FY2022 $489K$549K−$59K$2.0M 990 PDF
FY2021 $426K$534K−$108K$2.0M 990 PDF
FY2020 $471K$487K−$16K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $530,133 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $516,963$519,368
I-10 Investment incomePrior year $12,583$10,765
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $529,546$530,133
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $601,829$600,628
I-18 Total expensesPrior year $601,829$600,628
I-19 Revenue less expensesPrior year −$72,283−$70,495
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $530,133 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $519,368$519,368
VIII-3 Investment incomeRelated to mission $10,765$10,765
VIII-12 Total revenueRelated to mission $530,133 · Unrelated business $0 · Excluded from tax $0$530,133
Part IX · Statement of functional expenses $600,628 across 9 lines filed
IX-11a Management feesPrograms $45,898$45,898
IX-11c Accounting feesPrograms $9,935$9,935
IX-12 Advertising and promotionPrograms $2,513$2,513
IX-13 Office expensesPrograms $51,208$51,208
IX-16 OccupancyPrograms $228,989$228,989
IX-20 InterestPrograms $47,271$47,271
IX-22 Depreciation, depletion and amortizationPrograms $140,301$140,301
IX-23 InsurancePrograms $27,500$27,500
IX-24 Other expenses (24a–d)Programs $47,013$47,013
IX-25 Total functional expensesPrograms $600,628 · Management $0 · Fundraising $0$600,628
Part X · Balance sheet $3,032,484 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $36,239$15,042
X-2 Savings and temporary cash investmentsStart of year $527,168$502,339
X-4 Accounts receivableStart of year $17,826$17,171
X-9 Prepaid expenses and deferred chargesStart of year $21,112$24,928
X-10c Land, buildings and equipment, netStart of year $2,553,989$2,473,004
X-16 Total assetsStart of year $3,156,334$3,032,484
X-24 Unsecured notes and loans payableStart of year $1,224,105$1,183,174
X-25 Other liabilitiesStart of year $32,422$32,840
X-26 Total liabilitiesStart of year $1,269,369$1,216,014
X-32 Total net assets or fund balancesStart of year $1,886,965$1,816,470
X-33 Total liabilities and net assetsStart of year $3,156,334$3,032,484
Part XI · Reconciliation of net assets $1,816,470 net assets at year end
XI-1 Total revenue$530,133
XI-2 Total expenses$600,628
XI-3 Revenue less expenses−$70,495
XI-4 Net assets at start of year$1,886,965
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,816,470

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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