John Marvin Tower FY2024 filing

Tax-deductible

Augusta, ME501(c)(3)Since 2003HousingEIN 75-3124768

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Operation of low income housing for the elderly and handicapped. Regulated and assisted by the department of housing and urban development (hud).

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
0 of 5
filings with a surplus
Average deficit $115K a year · 33% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$169K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$351K
+2% vs prior year
Spent
$524K
To programs
63%
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$351K
FY2024▲ +2%
Revenue by fiscal year
FY2020$351K
FY2021$350K
FY2022$336K
FY2023$344K
FY2024$351K
FY2024$443K
Expenses
$524K
FY2024▲ +11%
Expenses by fiscal year
FY2020$445K
FY2021$437K
FY2022$429K
FY2023$473K
FY2024$524K
FY2024$518K
Net assets
$2.1M
FY2024▼ -8%
Net assets by fiscal year
FY2020$2.6M
FY2021$2.5M
FY2022$2.4M
FY2023$2.3M
FY2024$2.1M
FY2024$2.0M

From the FY2024 Form 990 (year ending September 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2004.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $329K Management & general 37% · $194K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Melanie Ribeiro’s $347K as Dir / Vice P is at the 100th percentile of top reported officer pay among 852 $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.

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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 affordable housing for elderly and disabled individuals.

Provided by the organization

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1 program service account for $329K of program spending, described in the organization's own filed words · FY2023.
01

Operation of low income housing for the elderly and handicapped. Regulated and assisted by the department of housing and urban development (hud).

$329Kprogram expense

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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 · FY2022
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$351K
Ln 12
Fees for servicesLn 2g$347K
Investment incomeLn 3$3K
Other incomeLn 4–11$2K
Money outPt IX
$524K
Ln 25
Programscol B$329K
Managementcol C$194K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$141K
Total assetsLn 16$2.3M
LiabilitiesLn 26$169K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$347K
Investment incomeLn 3$3K
Other incomeLn 4–11$2K
Total revenueLn 12$351K
Assets in detailPt X, end of year
SavingsLn 2$141K
Cash and savings togetherLn 1–2$141K
Land, buildings, equipmentLn 10c$2.1M
Other assetsLn 15$10K
Total assetsLn 16$2.3M
LiabilitiesLn 26$169K
Net assetsLn 32$2.1M
OperationsPt I, VI
EmployeesI 55
Fiscal year endsHeaderSeptember
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$129K$141K
Land, buildings, equipmentLn 10c$2.2M$2.1M
Total assetsLn 16$2.4M$2.3M
LiabilitiesLn 26$92K$169K
Net assetsLn 32$2.3M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$92K$48K$44K
Pension plan contributionsLn 8$26K$13K$13K
Other employee benefitsLn 9$33K$18K$15K
Payroll taxesLn 10$8K$4K$4K
Management feesLn 11a$30K$2K$28K
Legal feesLn 11b$224$224
Accounting feesLn 11c$29K$17K$12K
Other fees for servicesLn 11g$39K$28K$11K
Advertising and promotionLn 12$2K$1K$424
Office expensesLn 13$10K$7K$2K
Information technologyLn 14$5K$4K$1K
OccupancyLn 16$130K$97K$32K
TravelLn 17$3K$2K$748
InterestLn 20$472$472
Depreciation, depletion and amortizationLn 22$112K$84K$28K
InsuranceLn 23$915$915
Other expenses (24a–d)Ln 24$3K$2K$734
Total functional expensesLn 25$524K$329K$194K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $351K$524K−$173K$2.1M 990 PDF
FY2023 $344K$473K−$129K$2.3M 990 PDF
FY2022 $336K$429K−$93K$2.4M 990 PDF
FY2021 $350K$437K−$87K$2.5M 990 PDF
FY2020 $351K$445K−$94K$2.6M 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 (4 parts)
Part VIII · Statement of revenue $350,924 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $346,546$346,546
VIII-3 Investment incomeExcluded from tax $2,797$2,797
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,581$1,581
VIII-12 Total revenueRelated to mission $348,127 · Excluded from tax $2,797$350,924
Part IX · Statement of functional expenses $523,506 across 17 lines filed
IX-7 Other salaries and wagesPrograms $48,273 · Management $43,617$91,890
IX-8 Pension plan contributionsPrograms $13,070 · Management $12,678$25,748
IX-9 Other employee benefitsPrograms $17,907 · Management $15,424$33,331
IX-10 Payroll taxesPrograms $3,987 · Management $3,602$7,589
IX-11a Management feesPrograms $2,343 · Management $27,989$30,332
IX-11b Legal feesManagement $224$224
IX-11c Accounting feesPrograms $17,070 · Management $12,189$29,259
IX-11g Other fees for servicesPrograms $28,298 · Management $11,113$39,411
IX-12 Advertising and promotionPrograms $1,270 · Management $424$1,694
IX-13 Office expensesPrograms $7,412 · Management $2,469$9,881
IX-14 Information technologyPrograms $4,066 · Management $1,355$5,421
IX-16 OccupancyPrograms $97,329 · Management $32,440$129,769
IX-17 TravelPrograms $2,243 · Management $748$2,991
IX-20 InterestManagement $472$472
IX-22 Depreciation, depletion and amortizationPrograms $83,727 · Management $27,909$111,636
IX-23 InsuranceManagement $915$915
IX-24 Other expenses (24a–d)Programs $2,209 · Management $734$2,943
IX-25 Total functional expensesPrograms $329,204 · Management $194,302 · Fundraising $0$523,506
Part X · Balance sheet $2,287,490 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $128,667$141,055
X-4 Accounts receivableStart of year $1,481$723
X-9 Prepaid expenses and deferred chargesStart of year $12,399$11,884
X-10c Land, buildings and equipment, netStart of year $2,200,857$2,123,622
X-15 Other assets$10,206
X-16 Total assetsStart of year $2,383,479$2,287,490
X-17 Accounts payable and accrued expensesStart of year $27,415$46,770
X-19 Deferred revenueStart of year $648$599
X-25 Other liabilitiesStart of year $52,462$108,500
X-26 Total liabilitiesStart of year $92,214$168,807
X-27 Net assets without donor restrictionsStart of year −$1,465,235−$1,637,817
X-28 Net assets with donor restrictionsStart of year $3,756,500$3,756,500
X-32 Total net assets or fund balancesStart of year $2,291,265$2,118,683
X-33 Total liabilities and net assetsStart of year $2,383,479$2,287,490
Part XI · Reconciliation of net assets $2,118,683 net assets at year end
XI-1 Total revenue$350,924
XI-2 Total expenses$523,506
XI-3 Revenue less expenses−$172,582
XI-4 Net assets at start of year$2,291,265
XI-10 Net assets at end of year$2,118,683

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

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