Project Home EIN 82-4353021

Project Home

EIN  82-4353021 Public charity (501(c)(3)) Portland, ME
Form 990 (PDF) Compare with another nonprofit →
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Size
$1–10M
What they do
Provides and develops safe, affordable homes for people facing housing challenges.
Leadership
Brit Vitalius · President
Money in and out
$1.4M revenue, $1.7M expenses
Bottom line
85% program efficiency

Provides and develops safe, affordable homes for people facing housing challenges. For fiscal year 2024 it reported $1.4M in revenue, $1.7M in expenses, and $480K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$1.7M
Pt IX · Ln 25
Net assets
$480K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$301K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.14 Fundraising $0.01
Program efficiency
85%
of spending reaches programs▲ +7% vs prior filing year
Operating runway
5.2mo
months of highly liquid reserves at operating expense rate▼ -20% vs prior filing year
Surplus margin
-21%
revenue over expenses, this year▼ -163% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.4M
FY2024▼ -13%
Expenses
$1.7M
FY2024▲ +60%
Total assets
$994K
FY2024▲ +18%
Total liabilities
$514K
FY2024▲ +761%
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$1.7M
Pt IX · Ln 25
Net assets
$480K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$301K
Total assetsPt X · Ln 16$994K
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $1.5M of program spending, described in the organization's own filed words · FY2024.
01

Quality housing coalition runs project home with is currently providing scattered site tenancy management services to 250 households with 35 landlords in cumberland, york, androscoggin, sagadahoc, and kennebec counties.

$1.5Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProject Home
EINHdr · item D82-4353021
Principal addressHdr · item CPortland, ME
Year of formationHdr · item Lpending
State of legal domicileHdr · item MME
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L01)
Ruling yearIRS BMFAug 2018

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Project Home executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$1.4M · 98%
Investment income$27K · 2%
Contributions & grants98%$1.4M
Investment income2%$27K
— government grantsLn 1e$836K
Total revenueLn 12$1.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.14 Fundraising $0.01
Program services85%$1.5M
Management & general14%$232K
Fundraising1%$17K
Total functional expensesLn 25$1.7M

Balance Sheet

Part X · end of year
CashLn 1$740K
Total assetsLn 16$994K
Total liabilitiesLn 26$514K
Total net assetsLn 32$480K
Months of cash on handcomputed5.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $740K · Operating expenses (Pt IX) $1.7M · Less non-cash grants $5K · Cash operating expenses/yr $1.7M
5.2 months
Where the money goes
Program services
Program services $1.5M · Total expenses $1.7M
85%
Management & General
Management & general $232K · Total expenses $1.7M
14%
Fundraising
Fundraising $17K · Total expenses $1.7M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $40K · Solicited contributions (3-yr avg) $514K
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.4M · Total revenue $1.4M
98%
Government reliance
Government grants $836K · Total revenue $1.4M
59%
Earned-income share
Program service revenue $0 · Total revenue $1.4M
0%
Investment reliance
Investment income $27K · Total revenue $1.4M
+2%
Program self-sufficiency
Program service revenue $0 · Total expenses $1.7M
0%
Growth & trend
Revenue growth (YoY)
This year $1.4M · Prior year $1.6M
-13%
Net-asset trend (YoY)
End of year $480K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.4M · Expenses $1.7M
-21%
Liabilities-to-Assets
Total liabilities — · Total assets $994K
Net-asset ratio
Net assets $480K · Total assets $994K
48%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $994K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brit Vitalius · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $1.7M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $787K · Total expenses $1.7M
46%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 14%
Fundraising cost ratio 1%
Revenue growth -13%
Legal fee ratio 0%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
United Way INCFY2024$65K
Total grants receivedfrom 2 funders$174K
Grants paid · 4 grants · $1.2M · 2022–2024
Unitemized GrantFY2024$576,212
Unitemized GrantFY2023$505,820
Unitemized GrantFY2022$37,295
Unitemized GrantFY2022$37,295

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.4M revenue · viewing · ⤓ 990 PDF
FY2023$1.6M revenue · ⤓ 990 PDF
FY2022$491K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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