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Gardner Commons Development Corporation FY2022 filing

Tax-deductible

Bangor, ME501(c)(3)Crime & Legal EIN 55-0913379Revenue $254K in FY2022

On file with the IRSPo Box 2219, 04402-2219 · Bangor, METax-exempt since Jan 2007Publicly supported — 509(a)(2)

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To operate a 26 unit elderly low income housing Development in bucksport, maine, which provides decent, safe and sanitary housing.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
0 of 6
filings with a surplus
Average deficit $91K a year · 32% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$247K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$254K
+1% vs prior year
Spent
$354K
To programs
88%
Net assets
$2.7M
By yearFY2020–FY2025
Revenue
$254K
FY2022▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$252K
FY2021$250K
FY2022$254K
FY2023$292K
FY2024$306K
FY2025$325K
Expenses
$354K
FY2022▲ +0.7%
Tap a bar for its year
Expenses by fiscal year
FY2020$338K
FY2021$351K
FY2022$354K
FY2023$382K
FY2024$385K
FY2025$414K
Net assets
$2.7M
FY2022▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.9M
FY2021$2.8M
FY2022$2.7M
FY2023$2.6M
FY2024$2.5M
FY2025$2.4M

From the FY2022 Form 990 (year ending June 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 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 Jan 2007.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $311K Management & general 12% · $43K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Debbie Antoon
Secretary
$0Pt VII · Sec A
Susan Davis
Director
$0Pt VII · Sec A
Doug Doane
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Bonnie Kline
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Nancy Minott
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
See Gardner Commons Development Corporation 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

Provides safe, affordable housing for 26 low-income seniors in Bucksport, Maine.

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Provided by the organization

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1 program · $311K · in their own filed words · FY2021
01

The organization operates a 26 unit elderly low income housing development in bucksport, maine. The purpose of the development is to provide decent, safe and sanitary housing to elderly low income residents that meet eligibility guidelines established by hud.

$311Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$254K
Ln 12
Fees for servicesLn 2g$254K
Investment incomeLn 3$180
Money outPt IX
$354K
Ln 25
Programscol B$311K
Managementcol C$43K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$179K
Total assetsLn 16$2.9M
LiabilitiesLn 26$247K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$254K
Investment incomeLn 3$180
Total revenueLn 12$254K
Assets in detailPt X, end of year
CashLn 1$11K
SavingsLn 2$168K
Cash and savings togetherLn 1–2$179K
Land, buildings, equipmentLn 10c$2.7M
Total assetsLn 16$2.9M
LiabilitiesLn 26$247K
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$163K$179K
Land, buildings, equipmentLn 10c$2.8M$2.7M
Total assetsLn 16$3.0M$2.9M
LiabilitiesLn 26$226K$247K
Net assetsLn 32$2.8M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$21K$21K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$17K$4K$14K
OccupancyLn 16$77K$77K
Depreciation, depletion and amortizationLn 22$106K$106K
InsuranceLn 23$9K$7K$2K
Other expenses (24a–d)Ln 24$108K$108K
All other expensesLn 24e$10K$10K
Total functional expensesLn 25$354K$311K$43K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $325K$414K−$88K$2.4M 990 PDF
FY2024 $306K$385K−$79K$2.5M 990 PDF
FY2023 $292K$382K−$90K$2.6M 990 PDF
FY2022 Viewing $254K$354K−$100K$2.7M 990 PDF
FY2021 $250K$351K−$101K$2.8M 990 PDF
FY2020 $252K$338K−$86K$2.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $254,145 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $250,277$253,965
I-10 Investment incomePrior year $141$180
I-11 Other revenue$0
I-12 Total revenuePrior year $250,418$254,145
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 $351,237$353,756
I-18 Total expensesPrior year $351,237$353,756
I-19 Revenue less expensesPrior year −$100,819−$99,611
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $254,145 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $249,103 · Excluded from tax $4,862$253,965
VIII-3 Investment incomeExcluded from tax $180$180
VIII-12 Total revenueRelated to mission $249,103 · Excluded from tax $5,042$254,145
Part IX · Statement of functional expenses $353,756 across 8 lines filed
IX-11a Management feesManagement $21,348$21,348
IX-11c Accounting feesManagement $6,100$6,100
IX-11g Other fees for servicesPrograms $3,559 · Management $13,665$17,224
IX-16 OccupancyPrograms $76,536$76,536
IX-22 Depreciation, depletion and amortizationPrograms $105,900$105,900
IX-23 InsurancePrograms $7,373 · Management $1,528$8,901
IX-24 Other expenses (24a–d)Programs $108,065$108,065
IX-24e All other expensesPrograms $9,682$9,682
IX-25 Total functional expensesPrograms $311,115 · Management $42,641 · Fundraising $0$353,756
Part X · Balance sheet $2,927,063 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,232$10,808
X-2 Savings and temporary cash investmentsStart of year $160,867$168,381
X-4 Accounts receivableStart of year $189$556
X-9 Prepaid expenses and deferred chargesStart of year $8,121$8,584
X-10c Land, buildings and equipment, netStart of year $2,834,422$2,738,734
X-16 Total assetsStart of year $3,005,831$2,927,063
X-17 Accounts payable and accrued expensesStart of year $13,639$34,561
X-19 Deferred revenueStart of year $1,739$2,089
X-25 Other liabilitiesStart of year $10,518$10,089
X-26 Total liabilitiesStart of year $225,896$246,739
X-27 Net assets without donor restrictionsStart of year $2,779,935$2,680,324
X-32 Total net assets or fund balancesStart of year $2,779,935$2,680,324
X-33 Total liabilities and net assetsStart of year $3,005,831$2,927,063
Part XI · Reconciliation of net assets $2,680,324 net assets at year end
XI-1 Total revenue$254,145
XI-2 Total expenses$353,756
XI-3 Revenue less expenses−$99,611
XI-4 Net assets at start of year$2,779,935
XI-10 Net assets at end of year$2,680,324

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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