Housing Partnership FY2023 filing

Tax-deductible

Portsmouth, NH501(c)(3)HousingEIN 02-0427331Revenue $659K in FY2023

On file with the IRShousingpartnership.org222 International Dr Ste 165, 03801-6818 · Portsmouth, NHTax-exempt since Jun 1989Publicly supported charity — 170(b)(1)(A)(vi)

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The Housing partnership's (thp) mission is to strengthen the communities of the greater seacoast region of new hampshire and southern maine by creating diverse Housing opportunities, utilizing innovative approaches to development, and practicing strong stewardship of our Housing. We value economic sustainability, economic and social diversity and smart growth. By honoring these values, we create Housing that strengthens the fabric of communities.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$156K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
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
2 of 5
filings with a surplus
Average surplus $174K a year · 14% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$156K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $52K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.6M
56% of total assets
Fine: liabilities are 56% of assets; 50% to 65%.
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
$659K
-44% vs prior year
Spent
$916K
To programs
80%
Net assets
$5.2M
By yearFY2020–FY2024
Revenue
$659K
FY2023▼ -44%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$2.9M
FY2022$1.2M
FY2023$659K
FY2024$219K
Expenses
$916K
FY2023▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.0M
FY2023$916K
FY2024$895K
Net assets
$5.2M
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2M
FY2021$5.0M
FY2022$5.3M
FY2023$5.2M
FY2024$5.0M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Jun 1989.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $736K Management & general 19% · $169K Fundraising 1% · $11K

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

8 people listed on the 990; $156K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$156,405Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Marty Chapman’s $166K as Executive Director is at the 96th percentile of top reported officer pay among 851 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Marty Chapman$166,209$156,405$158,270$158,197$154,952

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Housing Partnership 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 15aYes

Programs and updates

Builds diverse housing opportunities to strengthen communities in New Hampshire and Southern Maine.

Provided by the organization

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3 programs · $736K · in their own filed words · FY2023
01

Rental Properties

THP OWNS/OVERSEES the property management of 252 affordable apartments and 1 commercial unit in dover, exeter, farmington, lee, rollinsford, rye, kennebunk, eliot, and south berwick.

$506Kprogram expense
02

Property Development

Development of affordable housing through construction of new housing as well as purchase and rehab of existing housing.

$144Kprogram expense
03

Homeward Bound

A free and community-based comprehensive homebuyer eduction program offer in the seacoast region of new hampshire. It is the only hud-certified homebuyer education program offered in the seacoast region. The 8-HOUR program teaches the steps necessary for successful homeownership.

$86Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$52K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$659K
Ln 12
Fees for servicesLn 2g$530K
Gifts and grantsLn 1h$110K
Investment incomeLn 3$25K
Money outPt IX
$916K
Ln 25
Programscol B$736K
Managementcol C$169K
Fundraisingcol D$11K
Owns and owesPt X
$5.2M
net assets · Ln 32
Cash and savingsLn 1–2$554K
Total assetsLn 16$11.8M
LiabilitiesLn 26$6.6M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$110K
Government grantsLn 1e$96K
Fundraising eventsLn 1c$10K
Fees for servicesLn 2g$530K
Investment incomeLn 3$25K
Total revenueLn 12$659K
Assets in detailPt X, end of year
CashLn 1$264K
SavingsLn 2$290K
Cash and savings togetherLn 1–2$554K
InvestmentsLn 11–13$1.5M
Land, buildings, equipmentLn 10c$869K
Other assetsLn 15$7.2M
Total assetsLn 16$11.8M
LiabilitiesLn 26$6.6M
Net assetsLn 32$5.2M
OperationsPt I, VI
EmployeesI 53
VolunteersI 66
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 FY23End FY23
Cash and savingsLn 1–2$1.3M$554K
InvestmentsLn 11–13$1.5M$1.5M
Land, buildings, equipmentLn 10c$887K$869K
Total assetsLn 16$10.5M$11.8M
LiabilitiesLn 26$5.2M$6.6M
Net assetsLn 32$5.3M$5.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$155K$114K$40K$602
Other salaries and wagesLn 7$187K$132K$51K$5K
Pension plan contributionsLn 8$24K$16K$7K$444
Other employee benefitsLn 9$11K$7K$3K$201
Payroll taxesLn 10$24K$16K$8K$456
Management feesLn 11a$28K$28K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$42K$5K$36K
Other fees for servicesLn 11g$9K$5K$4K
Advertising and promotionLn 12$2K$2K$350
Office expensesLn 13$20K$14K$4K$2K
OccupancyLn 16$122K$112K$9K$878
TravelLn 17$5K$4K$561$21
InterestLn 20$54K$49K$4K$421
Depreciation, depletion and amortizationLn 22$47K$46K$342$33
InsuranceLn 23$19K$18K$1K$121
Other expenses (24a–d)Ln 24$165K$165K$161$8
Total functional expensesLn 25$916K$736K$169K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $219K$895K−$676K$5.0M 990 PDF
FY2023 Viewing $659K$916K−$257K$5.2M 990 PDF
FY2022 $1.2M$1.0M$162K$5.3M 990 PDF
FY2021 $2.9M$1.2M$1.7M$5.0M 990 PDF
FY2020 $1.1M$1.2M−$37K$3.2M 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 FY2023 990 (6 parts)
Part I · Summary $659,312 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $68,592$109,869
I-9 Program service revenuePrior year $1,134,748$530,171
I-10 Investment incomePrior year $934$25,201
I-11 Other revenuePrior year −$18,593−$5,929
I-12 Total revenuePrior year $1,185,681$659,312
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 $394,248$400,647
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $629,562$515,388
I-18 Total expensesPrior year $1,023,810$916,035
I-19 Revenue less expensesPrior year $161,871−$256,723
Part VI · Governance 5 of 5 board members independent, 2 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-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $659,312 across 10 lines filed
VIII-1c Fundraising events$10,352
VIII-1e Government grants$96,222
VIII-1f All other contributions, gifts and grants$3,295
VIII-1h Total contributions, gifts and grants$109,869
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $530,171$530,171
VIII-3 Investment incomeExcluded from tax $25,201$25,201
VIII-6 Net rental income or lossRelated to mission $60,804 · Unrelated business −$163,651−$102,847
VIII-8 Net income from fundraising eventsExcluded from tax −$16,866−$16,866
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $113,784$113,784
VIII-12 Total revenueRelated to mission $704,759 · Unrelated business −$163,651 · Excluded from tax $8,335$659,312
Part IX · Statement of functional expenses $916,035 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $114,001 · Management $39,944 · Fundraising $602$154,547
IX-7 Other salaries and wagesPrograms $131,517 · Management $50,913 · Fundraising $4,886$187,316
IX-8 Pension plan contributionsPrograms $15,932 · Management $7,356 · Fundraising $444$23,732
IX-9 Other employee benefitsPrograms $7,164 · Management $3,307 · Fundraising $201$10,672
IX-10 Payroll taxesPrograms $16,367 · Management $7,557 · Fundraising $456$24,380
IX-11a Management feesPrograms $27,644$27,644
IX-11b Legal feesPrograms $3,196$3,196
IX-11c Accounting feesPrograms $5,475 · Management $36,253$41,728
IX-11g Other fees for servicesPrograms $4,934 · Management $4,186$9,120
IX-12 Advertising and promotionPrograms $1,503 · Fundraising $350$1,853
IX-13 Office expensesPrograms $13,970 · Management $4,080 · Fundraising $2,260$20,310
IX-16 OccupancyPrograms $111,710 · Management $9,207 · Fundraising $878$121,795
IX-17 TravelPrograms $4,202 · Management $561 · Fundraising $21$4,784
IX-20 InterestPrograms $49,114 · Management $4,350 · Fundraising $421$53,885
IX-22 Depreciation, depletion and amortizationPrograms $46,333 · Management $342 · Fundraising $33$46,708
IX-23 InsurancePrograms $17,702 · Management $1,255 · Fundraising $121$19,078
IX-24 Other expenses (24a–d)Programs $165,118 · Management $161 · Fundraising $8$165,287
IX-25 Total functional expensesPrograms $735,882 · Management $169,472 · Fundraising $10,681$916,035
Part X · Balance sheet $11,796,241 assets, 18 lines filed
Asset lines not itemized here account for $1,610,176; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $301,427$264,069
X-2 Savings and temporary cash investmentsStart of year $1,001,053$289,959
X-4 Accounts receivableStart of year $22,761$15,958
X-9 Prepaid expenses and deferred chargesStart of year $32,430$15,311
X-10c Land, buildings and equipment, netStart of year $886,512$868,826
X-11 Publicly traded securitiesStart of year $423,900$515,365
X-13 Program-related investmentsStart of year $1,043,305$951,861
X-14 Intangible assetsStart of year $23,775$21,313
X-15 Other assetsStart of year $5,293,668$7,243,403
X-16 Total assetsStart of year $10,503,936$11,796,241
X-17 Accounts payable and accrued expensesStart of year $810,533$535,701
X-19 Deferred revenueStart of year $921$826
X-25 Other liabilitiesStart of year $70,634$62,822
X-26 Total liabilitiesStart of year $5,202,601$6,631,414
X-27 Net assets without donor restrictionsStart of year $5,268,858$5,130,130
X-28 Net assets with donor restrictionsStart of year $32,477$34,697
X-32 Total net assets or fund balancesStart of year $5,301,335$5,164,827
X-33 Total liabilities and net assetsStart of year $10,503,936$11,796,241
Part XI · Reconciliation of net assets $5,164,827 net assets at year end
XI-1 Total revenue$659,312
XI-2 Total expenses$916,035
XI-3 Revenue less expenses−$256,723
XI-4 Net assets at start of year$5,301,335
XI-5 Net unrealized gains (losses) on investments$93,685
XI-6 Donated services and use of facilities$15,000
XI-9 Other changes in net assets$11,530
XI-10 Net assets at end of year$5,164,827

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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