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Glenburn Housing Corp

Not tax-deductible

Bangor, ME501(c)(4)EIN 01-0358743Revenue $263K in FY2024

On file with the IRS4 Union Plz Ste 9, 04401-4881 · Bangor, METax-exempt since Jun 1979

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To provide decent, safe and sanitary low-cost Housing to the elderly and handicapped.

95¢ 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 $44K a year · 23% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
169% of total assets
Concern: liabilities are 169% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$263K
+37% vs prior year
Spent
$269K
To programs
95%
Net assets
−$531K
By yearFY2020–FY2024
Revenue
$263K
FY2024▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$170K
FY2021$172K
FY2022$186K
FY2023$192K
FY2024$263K
Expenses
$269K
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$224K
FY2021$218K
FY2022$246K
FY2023$246K
FY2024$269K
Net assets
−$531K
FY2024▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020−$364K
FY2021−$410K
FY2022−$471K
FY2023−$524K
FY2024−$531K

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 Jun 1979.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $255K Management & general 5% · $14K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Dan Dauphinee
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Adine Frost
Director
$0Pt VII · Sec A
Rick Moore
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Rudnicki
Director
$0Pt VII · Sec A
Eric Strout
President
$0Pt VII · Sec A
See Glenburn Housing Corp 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds affordable, safe homes for seniors and people with disabilities.

Questions for Glenburn Housing Corp

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Provided by the organization

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1 program · $255K · in their own filed words · FY2024
01

24 unit low income elderly housing development with rents subsidized by usda rural development.

$255Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$263K
Ln 12
Fees for servicesLn 2g$198K
Gifts and grantsLn 1h$58K
Other incomeLn 4–11$5K
Money outPt IX
$269K
Ln 25
Programscol B$255K
Managementcol C$14K
Owns and owesPt X
−$531K
net assets · Ln 32
Cash and savingsLn 1–2$280K
Total assetsLn 16$764K
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$58K
Government grantsLn 1e$58K
Fees for servicesLn 2g$198K
Investment incomeLn 3$2K
Other incomeLn 4–11$5K
Total revenueLn 12$263K
Assets in detailPt X, end of year
CashLn 1$11K
SavingsLn 2$269K
Cash and savings togetherLn 1–2$280K
Land, buildings, equipmentLn 10c$471K
Total assetsLn 16$764K
LiabilitiesLn 26$1.3M
Net assetsLn 32−$531K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$232K$280K
Land, buildings, equipmentLn 10c$529K$471K
Total assetsLn 16$779K$764K
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32−$524K−$531K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$26K$19K$6K
Accounting feesLn 11c$6K$6K
Advertising and promotionLn 12$233$233
OccupancyLn 16$122K$121K$900
InterestLn 20$28K$28K
Depreciation, depletion and amortizationLn 22$58K$58K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$19K$19K
Total functional expensesLn 25$269K$255K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $263K$269K−$6K−$531K 990 PDF
FY2023 $192K$246K−$54K−$524K 990 PDF
FY2022 $186K$246K−$61K−$471K 990 PDF
FY2021 $172K$218K−$46K−$410K 990 PDF
FY2020 $170K$224K−$54K−$364K 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 $262,814 revenue, 12 lines filed
I-8 Contributions and grants$57,671
I-9 Program service revenuePrior year $186,747$198,403
I-10 Investment incomePrior year $1,853$1,894
I-11 Other revenuePrior year $3,755$4,846
I-12 Total revenuePrior year $192,355$262,814
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $246,228$269,125
I-18 Total expensesPrior year $246,228$269,125
I-19 Revenue less expensesPrior year −$53,873−$6,311
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $262,814 across 6 lines filed
VIII-1e Government grants$57,671
VIII-1h Total contributions, gifts and grants$57,671
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $198,403$198,403
VIII-3 Investment incomeExcluded from tax $1,894$1,894
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,846$4,846
VIII-12 Total revenueRelated to mission $198,403 · Excluded from tax $6,740$262,814
Part IX · Statement of functional expenses $269,125 across 8 lines filed
IX-11a Management feesPrograms $19,330 · Management $6,444$25,774
IX-11c Accounting feesManagement $6,500$6,500
IX-12 Advertising and promotionPrograms $233$233
IX-16 OccupancyPrograms $120,693 · Management $900$121,593
IX-20 InterestPrograms $27,510$27,510
IX-22 Depreciation, depletion and amortizationPrograms $58,075$58,075
IX-23 InsurancePrograms $10,602$10,602
IX-24 Other expenses (24a–d)Programs $18,838$18,838
IX-25 Total functional expensesPrograms $255,281 · Management $13,844 · Fundraising $0$269,125
Part X · Balance sheet $764,484 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $13,243$10,843
X-2 Savings and temporary cash investmentsStart of year $218,857$269,401
X-4 Accounts receivableStart of year $795$495
X-9 Prepaid expenses and deferred chargesStart of year $16,306$11,660
X-10c Land, buildings and equipment, netStart of year $528,815$470,799
X-14 Intangible assetsStart of year $1,344$1,286
X-16 Total assetsStart of year $779,360$764,484
X-17 Accounts payable and accrued expensesStart of year $20,783$6,748
X-25 Other liabilitiesStart of year $80,977$90,732
X-26 Total liabilitiesStart of year $1,303,746$1,295,181
X-27 Net assets without donor restrictionsStart of year −$524,386−$530,697
X-32 Total net assets or fund balancesStart of year −$524,386−$530,697
X-33 Total liabilities and net assetsStart of year $779,360$764,484
Part XI · Reconciliation of net assets −$530,697 net assets at year end
XI-1 Total revenue$262,814
XI-2 Total expenses$269,125
XI-3 Revenue less expenses−$6,311
XI-4 Net assets at start of year−$524,386
XI-10 Net assets at end of year−$530,697

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

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