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Fort Kent Housing INC FY2022 filing

Not tax-deductible

Fort Kent, ME501(c)(4) EIN 01-0280430Revenue $489K in FY2022

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

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
12 mo
of spending, in cash
Looks good: 12.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$489K
+15% vs prior year
Spent
$549K
To programs
100%
Net assets
$2.0M
By yearFY2020–FY2024
Revenue
$489K
FY2022▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$471K
FY2021$426K
FY2022$489K
FY2023$530K
FY2024$530K
Expenses
$549K
FY2022▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$487K
FY2021$534K
FY2022$549K
FY2023$602K
FY2024$601K
Net assets
$2.0M
FY2022▼ -3%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

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% · $549K

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

5 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
$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.

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Provided by the organization

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1 program · $549K · in their own filed words · FY2022
01

To provide housing for eldery residents of fort kent, maine

$549Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$489K
Ln 12
Fees for servicesLn 2g$487K
Investment incomeLn 3$3K
Money outPt IX
$549K
Ln 25
Programscol B$549K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$557K
Total assetsLn 16$3.3M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$487K
Investment incomeLn 3$3K
Total revenueLn 12$489K
Assets in detailPt X, end of year
CashLn 1$32K
SavingsLn 2$525K
Cash and savings togetherLn 1–2$557K
Land, buildings, equipmentLn 10c$2.7M
Total assetsLn 16$3.3M
LiabilitiesLn 26$1.3M
Net assetsLn 32$2.0M
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 FY22End FY22
Cash and savingsLn 1–2$509K$557K
Land, buildings, equipmentLn 10c$2.8M$2.7M
Total assetsLn 16$3.3M$3.3M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32$2.0M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$73K$73K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$3K$3K
OccupancyLn 16$208K$208K
InterestLn 20$52K$52K
Depreciation, depletion and amortizationLn 22$146K$146K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$40K$40K
Total functional expensesLn 25$549K$549K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $530K$601K−$70K$1.8M 990 PDF
FY2023 $530K$602K−$72K$1.9M 990 PDF
FY2022 Viewing $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 R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $489,486 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $422,584$486,599
I-10 Investment incomePrior year −$4,476$2,887
I-11 Other revenuePrior year $7,650$0
I-12 Total revenuePrior year $425,758$489,486
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 $533,581$548,621
I-18 Total expensesPrior year $533,581$548,621
I-19 Revenue less expensesPrior year −$107,823−$59,135
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $489,486 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $486,599$486,599
VIII-3 Investment incomeRelated to mission $2,887$2,887
VIII-12 Total revenueRelated to mission $489,486 · Unrelated business $0 · Excluded from tax $0$489,486
Part IX · Statement of functional expenses $548,621 across 9 lines filed
IX-11a Management feesPrograms $73,166$73,166
IX-11c Accounting feesPrograms $4,395$4,395
IX-12 Advertising and promotionPrograms $1,982$1,982
IX-13 Office expensesPrograms $3,162$3,162
IX-16 OccupancyPrograms $208,304$208,304
IX-20 InterestPrograms $51,560$51,560
IX-22 Depreciation, depletion and amortizationPrograms $146,403$146,403
IX-23 InsurancePrograms $19,442$19,442
IX-24 Other expenses (24a–d)Programs $40,207$40,207
IX-25 Total functional expensesPrograms $548,621 · Management $0 · Fundraising $0$548,621
Part X · Balance sheet $3,265,818 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $8,114$31,600
X-2 Savings and temporary cash investmentsStart of year $500,603$525,407
X-4 Accounts receivableStart of year $13,085$16,383
X-9 Prepaid expenses and deferred chargesStart of year $15,227$17,950
X-10c Land, buildings and equipment, netStart of year $2,809,275$2,674,478
X-16 Total assetsStart of year $3,346,304$3,265,818
X-17 Accounts payable and accrued expenses$11,938
X-24 Unsecured notes and loans payableStart of year $1,297,934$1,262,287
X-25 Other liabilitiesStart of year $29,952$32,345
X-26 Total liabilitiesStart of year $1,327,886$1,306,570
X-32 Total net assets or fund balancesStart of year $2,018,418$1,959,248
X-33 Total liabilities and net assetsStart of year $3,346,304$3,265,818
Part XI · Reconciliation of net assets $1,959,248 net assets at year end
XI-1 Total revenue$489,486
XI-2 Total expenses$548,621
XI-3 Revenue less expenses−$59,135
XI-4 Net assets at start of year$2,018,418
XI-8 Prior period adjustments−$35
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,959,248

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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