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Stella Maris Housing Development Corp EIN 01-0376239 Form 990 (PDF) Claim this org

Stella Maris Housing Development Corp

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Offers affordable housing for seniors. For fiscal year 2025 it reported $734K in revenue, $708K in expenses, and $-459K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Rockland, ME
Filings
6 on file (2020–2025)
Revenue
$734KFY2025
Expenses
$708K
Net assets
$-459K
People
10
Filings
6
Updates
0
More identity details & actions ⌄
EIN  01-0376239 Public charity (501(c)(3)) Rockland, ME
Form 990 (PDF)
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Size
$100K–1M
What they do
Offers affordable housing for seniors.
Leadership
Richard Norman · President
Money in and out
$734K revenue, $708K expenses
Bottom line
76% program efficiency
Where the money goes · FY2025
Total revenue
$734K
Pt VIII · Ln 12
Total expenses
$708K
Pt IX · Ln 25
Net assets
$-459K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $26K
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.24
Program efficiency
76%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
6.0mo
months of highly liquid reserves at operating expense rate▲ +15% vs prior filing year
Surplus margin
+4%
revenue over expenses, this year▲ +197% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$734K
FY2025▲ +7%
Expenses
$708K
FY2025-0.3%
Total assets
$1.3M
FY2025▼ -2%
Total liabilities
$1.8M
FY2025▼ -3%
Total revenue
$734K
Pt VIII · Ln 12
Total expenses
$708K
Pt IX · Ln 25
Net assets
$-459K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$26K
Total assetsPt X · Ln 16$1.3M
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CStella Maris Housing Development Corp
EINHdr · item D01-0376239
Principal addressHdr · item CRockland, ME
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MME
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21Z)
Ruling yearIRS BMFJun 1981

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Paul Chamberlain
Vice President
$0Pt VII · Sec A
Georg Haubs
Treasurer
$0Pt VII · Sec A
Kevin Bailey
Director
$0Pt VII · Sec A
Gregg Turley
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Ohrt
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $535K of program spending, described in the organization's own filed words · FY2024.
01

Provide subsidized housing for the elderly and self sufficient handicapped persons

$535Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$494K · 67%
Program service revenue$240K · 33%
Contributions & grants67%$494K
Program service revenue33%$240K
Investment income$208
— government grantsLn 1e$494K
Total revenueLn 12$734K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.24
Program services76%$535K
Management & general24%$173K
Total functional expensesLn 25$708K

Balance Sheet

Part X · end of year
CashLn 1$354K
Total assetsLn 16$1.3M
Total liabilitiesLn 26$1.8M
Total net assetsLn 32$-459K
Months of cash on handcomputed6.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $354K · Operating expenses/yr $708K
6.0 months
Where the money goes
Program services
Program services $535K · Total expenses $708K
76%
Management & General
Management & general $173K · Total expenses $708K
24%
Fundraising
Fundraising $0 · Total expenses $708K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $494K · Total revenue $734K
67%
Government reliance
Government grants $494K · Total revenue $734K
67%
Earned-income share
Program service revenue $240K · Total revenue $734K
33%
Investment reliance
Investment income $208 · Total revenue $734K
+0.03%
Program self-sufficiency
Program service revenue $240K · Total expenses $708K
34%
Growth & trend
Revenue growth (YoY)
This year $734K · Prior year $685K
+7%
Revenue CAGR
FY2019 $610K · FY2024 $734K
+4%
Net-asset trend (YoY)
End of year $-459K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $734K · Expenses $708K
+4%
Liabilities-to-Assets
Total liabilities — · Total assets $1.3M
—
Net-asset ratio
Net assets $-459K · Total assets $1.3M
-35%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.3M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Richard Norman · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $708K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $708K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%——
Overhead ratio 24%——
Fundraising cost ratio 0%——
Revenue growth 7%——
Legal fee ratio 0.03%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$734K revenue · viewing · ⤓ 990 PDF
FY2024$685K revenue · ⤓ 990 PDF
FY2023$649K revenue · ⤓ 990 PDF
FY2022$636K revenue · ⤓ 990 PDF
FY2021$627K revenue · ⤓ 990 PDF
FY2020$610K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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