Overview
What is Hill Street Terrace Housing Corporation C/O Avesta Housing?
Hill Street Terrace Housing Corporation, under the umbrella of Avesta Housing, is a nonprofit organization situated in Portland, Maine. Their primary focus is providing low-income housing, specifically catering to the needs of the elderly and families. They operate a 24-unit apartment complex named Pinewood Apartments. Their mission is deeply rooted in ensuring affordable living spaces for these groups, contributing to the community's overall well-being.
What are the reviews and ratings of this charity?
79% rating from Charity Navigator, earning a Three-Star out of Four Star rating, reflects an overall strong performance in accountability and finance for Hill Street Terrace Housing Corporation C/O Avesta Housing. The rating is based entirely on a single beacon score with a focus on financial practices.
The organization demonstrates solid governance with a fully independent board composed of 18 members, excelling in conflict of interest and whistleblower policies. It has effectively maintained a material diversion of assets at zero, indicating good financial stewardship.
However, while the program expense ratio is exemplary at 100%, the liabilities to assets ratio of 94.31% raises some concerns, as it did not score well in this area. Overall, the charity shows significant strengths in accountability, although its financial leverage could be improved.
This AI summary has been generated from information found on Charity Navigator.
Is Hill Street Terrace Housing Corporation C/O Avesta Housing legitimate?
Hill Street Terrace Housing Corporation C/O Avesta Housing is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hill Street Terrace Housing Corporation C/O Avesta Housing submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Hill Street Terrace Housing Corporation C/O Avesta Housing?
Hill Street Terrace Housing Corporation, in association with Avesta Housing, is committed to providing low-income housing for both elderly individuals and families. Their primary goal is achieved through the ownership and operation of a 24-unit apartment complex named Pinewood Apartments, which is specifically designed for low-income tenants. This organization's mission is centered around ensuring affordable living spaces for those who might otherwise struggle to find such accommodations.
Who is the CEO of Hill Street Terrace Housing Corporation C/O Avesta Housing?
Eric Boucher is the Director of Hill Street Terrace Housing Corporation C/O Avesta Housing. The CEO's salary of Hill Street Terrace Housing Corporation C/O Avesta Housing is $0 and their total compensation is $226,435.
What is the revenue of Hill Street Terrace Housing Corporation C/O Avesta Housing?
Hill Street Terrace Housing Corporation C/O Avesta Housing's revenue in 2022 was $1,290,264.
Who are the executives of Hill Street Terrace Housing Corporation C/O Avesta Housing and what are their salaries?
Here are 23 key members and their salaries (Hill Street Terrace Housing Corporation C/O Avesta Housing's CEO's salary is $0 and their total compensation is $226,435):
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- Related: $238,190
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- Related: $185,435
- Other: $41,000
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- Related: $157,819
- Other: $27,000
Where can I find the form 990 for Hill Street Terrace Housing Corporation C/O Avesta Housing?
Hill Street Terrace Housing Corporation C/O Avesta Housing's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hill Street Terrace Housing Corporation C/O Avesta Housing
Hill Street Terrace Housing Corporation C/O Avesta Housing, as a nonprofit organization, is dedicated to providing affordable housing solutions for the elderly and families in need. Their primary mission is to own and operate low-income housing facilities, showcased through their management of the Pinewood Apartments, a 24-unit complex. By offering this type of housing, they aim to contribute significantly to the well-being of vulnerable individuals, ensuring they have a stable and safe living environment.
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Impact
July, 2024
Hill Street Terrace Housing Corporation C/O Avesta Housing's impact can be seen in their provision of low-income housing for the elderly and families. Through their ownership and operation of a 24-unit apartment complex known as Pinewood Apartments in Portland, ME, they offer affordable housing options to those in need. Their mission to provide low-income housing directly addresses the pressing issue of housing insecurity and helps improve the quality of life for vulnerable populations in the community.
This information is meant to be a general summary of Hill Street Terrace Housing Corporation C/O Avesta Housing. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,759
- Program Service Revenue: $497,151
- Gross Receipts: $1,290,264
Assets and Liabilities:
- Total Assets: $5,792,478
- Total Liabilities: $5,463,343
- Net Assets: $329,135
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTAL INCOME
Revenue
$450,843
MISCELLANEOUS INCOME
Revenue
$46,308
Organization Details
Founding Year
1976
Phone
(207) 553-7777Principal Officer
Eric Boucher
Main Address
307 CUMBERLAND AVENUE, PORTLAND, ME, 04101
NTEE Category
Code: L22Z - Housing
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