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Stella Maris Housing Development Corp FY2021 filing

Tax-deductible

Rockland, ME501(c)(3)HousingEIN 01-0376239Revenue $627K in FY2021

On file with the IRS148 Broadway, 04841-2614 · Rockland, METax-exempt since Jun 1981Publicly supported charity — 170(b)(1)(A)(vi)

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To provide subsidized residential Housing for elderly individuals.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $4K a year · under 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.0M
124% of total assets
Concern: liabilities are 124% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$627K
+3% vs prior year
Spent
$628K
To programs
75%
Net assets
−$391K
By yearFY2020–FY2025
Revenue
$627K
FY2021▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$610K
FY2021$627K
FY2022$636K
FY2023$649K
FY2024$685K
FY2025$734K
Expenses
$628K
FY2021▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$587K
FY2021$628K
FY2022$648K
FY2023$686K
FY2024$710K
FY2025$708K
Net assets
−$391K
FY2021-0.08%
Tap a bar for its year
Net assets by fiscal year
FY2020−$391K
FY2021−$391K
FY2022−$403K
FY2023−$460K
FY2024−$486K
FY2025−$459K

From the FY2021 Form 990 (year ending September 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1981.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $472K Management & general 25% · $155K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Jack Kurowski
Vice President
$0Pt VII · Sec A
George Haubs
Treasurer
$0Pt VII · Sec A
Ron Demers
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ray Comeau
Director
$0Pt VII · Sec A
Gary Cran
Director
$0Pt VII · Sec A
See Stella Maris Housing Development 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable housing for seniors.

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Provided by the organization

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1 program · $472K · in their own filed words · FY2020
01

Provide subsidized housing for the elderly and self sufficient handicapped persons

$472Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$627K
Ln 12
Gifts and grantsLn 1h$422K
Fees for servicesLn 2g$206K
Investment incomeLn 3$90
Money outPt IX
$628K
Ln 25
Programscol B$472K
Managementcol C$155K
Owns and owesPt X
−$391K
net assets · Ln 32
Cash and savingsLn 1–2$361K
Total assetsLn 16$1.6M
LiabilitiesLn 26$2.0M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$422K
Government grantsLn 1e$422K
Fees for servicesLn 2g$206K
Investment incomeLn 3$90
Total revenueLn 12$627K
Assets in detailPt X, end of year
CashLn 1$55K
SavingsLn 2$306K
Cash and savings togetherLn 1–2$361K
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$91K
Total assetsLn 16$1.6M
LiabilitiesLn 26$2.0M
Net assetsLn 32−$391K
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderSeptember
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 FY21End FY21
Cash and savingsLn 1–2$283K$361K
Land, buildings, equipmentLn 10c$1.3M$1.2M
Total assetsLn 16$1.7M$1.6M
LiabilitiesLn 26$2.1M$2.0M
Net assetsLn 32−$391K−$391K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$28K$14K$14K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$2K$2K
Management feesLn 11a$34K$34K
Legal feesLn 11b$235$235
Accounting feesLn 11c$9K$9K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$16K$16K
InterestLn 20$77K$77K
Depreciation, depletion and amortizationLn 22$144K$144K
InsuranceLn 23$36K$36K
Other expenses (24a–d)Ln 24$243K$185K$58K
All other expensesLn 24e$35K$13K$22K
Total functional expensesLn 25$628K$472K$155K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $734K$708K$26K−$459K 990 PDF
FY2024 $685K$710K−$25K−$486K 990 PDF
FY2023 $649K$686K−$37K−$460K 990 PDF
FY2022 $636K$648K−$12K−$403K 990 PDF
FY2021 Viewing $627K$628K−$319−$391K 990 PDF
FY2020 $610K$587K$23K−$391K 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 FY2021 990 (6 parts)
Part I · Summary $627,428 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $418,964$421,752
I-9 Program service revenuePrior year $190,686$205,586
I-10 Investment incomePrior year $120$90
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $609,770$627,428
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 $132,838$32,807
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $454,209$594,940
I-18 Total expensesPrior year $587,047$627,747
I-19 Revenue less expensesPrior year $22,723−$319
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $627,428 across 5 lines filed
VIII-1e Government grants$421,752
VIII-1h Total contributions, gifts and grants$421,752
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $205,586$205,586
VIII-3 Investment incomeRelated to mission $90$90
VIII-12 Total revenueRelated to mission $205,676 · Unrelated business $0 · Excluded from tax $0$627,428
Part IX · Statement of functional expenses $627,747 across 13 lines filed
IX-7 Other salaries and wagesPrograms $14,105 · Management $14,372$28,477
IX-9 Other employee benefitsPrograms $2,447$2,447
IX-10 Payroll taxesPrograms $1,883$1,883
IX-11a Management feesManagement $33,984$33,984
IX-11b Legal feesManagement $235$235
IX-11c Accounting feesManagement $8,700$8,700
IX-12 Advertising and promotionManagement $1,931$1,931
IX-13 Office expensesManagement $15,814$15,814
IX-20 InterestPrograms $76,789$76,789
IX-22 Depreciation, depletion and amortizationPrograms $144,277$144,277
IX-23 InsurancePrograms $35,687$35,687
IX-24 Other expenses (24a–d)Programs $184,698 · Management $57,848$242,546
IX-24e All other expensesPrograms $12,549 · Management $22,428$34,977
IX-25 Total functional expensesPrograms $472,435 · Management $155,312 · Fundraising $0$627,747
Part X · Balance sheet $1,627,385 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $27,393$54,883
X-2 Savings and temporary cash investmentsStart of year $255,356$306,213
X-4 Accounts receivableStart of year $1,178$863
X-9 Prepaid expenses and deferred chargesStart of year $29,630$3,735
X-10c Land, buildings and equipment, netStart of year $1,280,387$1,170,924
X-15 Other assetsStart of year $93,786$90,767
X-16 Total assetsStart of year $1,687,730$1,627,385
X-17 Accounts payable and accrued expensesStart of year $33,491$38,153
X-25 Other liabilitiesStart of year $14,116$14,873
X-26 Total liabilitiesStart of year $2,078,536$2,018,510
X-27 Net assets without donor restrictionsStart of year −$390,806−$391,125
X-32 Total net assets or fund balancesStart of year −$390,806−$391,125
X-33 Total liabilities and net assetsStart of year $1,687,730$1,627,385
Part XI · Reconciliation of net assets −$391,125 net assets at year end
XI-1 Total revenue$627,428
XI-2 Total expenses$627,747
XI-3 Revenue less expenses−$319
XI-4 Net assets at start of year−$390,806
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$391,125

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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