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Gray Senior Housing INC

Tax-deductible

Portland, ME501(c)(3)EIN 23-7363470Revenue $263K in FY2024

On file with the IRS307 Cumberland Ave, 04101-4920 · Portland, METax-exempt since Jan 1975Publicly supported — 509(a)(2)

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Provide affordable Housing to the elderly.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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 $5K a year · 2% 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
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$279K
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$263K
+3% vs prior year
Spent
$266K
To programs
100%
Net assets
$162K
By yearFY2020–FY2024
Revenue
$263K
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$187K
FY2021$194K
FY2022$203K
FY2023$256K
FY2024$263K
Expenses
$266K
FY2024▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$166K
FY2021$180K
FY2022$206K
FY2023$260K
FY2024$266K
Net assets
$162K
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$158K
FY2021$172K
FY2022$169K
FY2023$165K
FY2024$162K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1975.

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% · $266K

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

23 people listed on the 990.

Part VII, Section A · reportable compensation
Jim Hanley
Director
$0Pt VII · Sec A
Alice Kabore
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Timothy Agnew
Treasurer
$0Pt VII · Sec A
Peter Bass
Director
$0Pt VII · Sec A
See Gray Senior 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

Builds and manages affordable homes for seniors.

Questions for Gray Senior Housing INC

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Provided by the organization

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1 program · $266K · in their own filed words · FY2024
01

Provide affordable housing to the elderly.

$266Kprogram 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$133K
Gifts and grantsLn 1h$128K
Investment incomeLn 3$3K
Money outPt IX
$266K
Ln 25
Programscol B$266K
Owns and owesPt X
$162K
net assets · Ln 32
Cash and savingsLn 1–2$76K
Total assetsLn 16$441K
LiabilitiesLn 26$279K
PeoplePt VI, VII
23
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$128K
Government grantsLn 1e$128K
Fees for servicesLn 2g$133K
Investment incomeLn 3$3K
Total revenueLn 12$263K
Assets in detailPt X, end of year
CashLn 1$7K
SavingsLn 2$69K
Cash and savings togetherLn 1–2$76K
Land, buildings, equipmentLn 10c$313K
Other assetsLn 15$18K
Total assetsLn 16$441K
LiabilitiesLn 26$279K
Net assetsLn 32$162K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$60K$76K
Land, buildings, equipmentLn 10c$338K$313K
Total assetsLn 16$421K$441K
LiabilitiesLn 26$256K$279K
Net assetsLn 32$165K$162K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$22K$22K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$88$88
Office expensesLn 13$4K$4K
InterestLn 20$14K$14K
Depreciation, depletion and amortizationLn 22$30K$30K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$168K$168K
All other expensesLn 24e$16K$16K
Total functional expensesLn 25$266K$266K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $263K$266K−$3K$162K 990 PDF
FY2023 $256K$260K−$4K$165K 990 PDF
FY2022 $203K$206K−$2K$169K 990 PDF
FY2021 $194K$180K$14K$172K 990 PDF
FY2020 $187K$166K$21K$158K 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 $263,080 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $125,434$127,684
I-9 Program service revenuePrior year $130,503$132,684
I-10 Investment incomePrior year $137$2,712
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $256,074$263,080
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 $260,265$266,141
I-18 Total expensesPrior year $260,265$266,141
I-19 Revenue less expensesPrior year −$4,191−$3,061
Part VI · Governance 17 of 17 board members independent, 4 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $263,080 across 5 lines filed
VIII-1e Government grants$127,684
VIII-1h Total contributions, gifts and grants$127,684
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,684$132,684
VIII-3 Investment incomeRelated to mission $2,712$2,712
VIII-12 Total revenueRelated to mission $135,396 · Unrelated business $0 · Excluded from tax $0$263,080
Part IX · Statement of functional expenses $266,141 across 10 lines filed
IX-11a Management feesPrograms $21,567$21,567
IX-11b Legal feesPrograms $1,070$1,070
IX-11c Accounting feesPrograms $4,000$4,000
IX-12 Advertising and promotionPrograms $88$88
IX-13 Office expensesPrograms $4,241$4,241
IX-20 InterestPrograms $13,509$13,509
IX-22 Depreciation, depletion and amortizationPrograms $29,573$29,573
IX-23 InsurancePrograms $8,119$8,119
IX-24 Other expenses (24a–d)Programs $167,551$167,551
IX-24e All other expensesPrograms $16,423$16,423
IX-25 Total functional expensesPrograms $266,141 · Management $0 · Fundraising $0$266,141
Part X · Balance sheet $441,206 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $12,186$7,413
X-2 Savings and temporary cash investmentsStart of year $48,116$68,702
X-4 Accounts receivableStart of year $3$25,055
X-9 Prepaid expenses and deferred chargesStart of year $5,703$8,813
X-10c Land, buildings and equipment, netStart of year $338,063$312,755
X-15 Other assetsStart of year $17,243$18,468
X-16 Total assetsStart of year $421,314$441,206
X-17 Accounts payable and accrued expensesStart of year $41,683$85,114
X-19 Deferred revenueStart of year $2,104$1,036
X-25 Other liabilitiesStart of year $17,243$18,468
X-26 Total liabilitiesStart of year $256,330$279,283
X-27 Net assets without donor restrictionsStart of year $164,984$161,923
X-32 Total net assets or fund balancesStart of year $164,984$161,923
X-33 Total liabilities and net assetsStart of year $421,314$441,206
Part XI · Reconciliation of net assets $161,923 net assets at year end
XI-1 Total revenue$263,080
XI-2 Total expenses$266,141
XI-3 Revenue less expenses−$3,061
XI-4 Net assets at start of year$164,984
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$161,923

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

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