PENQUIS DEVELOPMENT INC (EIN 010541817) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

KARA HAY

Phone

2079733500

Tax Period

2023-10-01 to 2024-09-30

PENQUIS DEVELOPMENT INC, founded in 2000, is a community nonprofit in the Housing & Shelter sector that reported $3.2M in total revenue in fiscal year 2023. Revenue surged 137% from the prior year, signaling strong growth momentum. The organization ran a surplus of $555K, a strong 17% operating margin.

Mission

TO PROMOTE AND PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS IN THE STATE OF MAINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $294,409

Program Service Revenue $2,885,983

Investment Income $19,182

Other Revenue $0

TOTAL REVENUE $3,199,574

Expense Breakdown

Grants Paid $438

Salaries & Benefits $337,525

Fundraising Expenses $0

Program Expenses $2,644,251

Other Expenses $2,306,288

TOTAL EXPENSES $2,644,251

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,199,574	$1,349,299	+1.4%
Expenses	$2,644,251	$1,023,730	+1.6%
Net Income	$555,323	$325,569	+0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$662,482

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TYLER COLLINS	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
JACK CLUKEY	DIRECTOR	1.00	Director	$0	$0	$0
RICK HARNUM	DIRECTOR	1.00	Director	$0	$0	$0
MARK LEONARD	DIRECTOR	1.00	Director	$0	$0	$0
CATHERINE SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN THIBEAU	DIRECTOR	1.00	Director	$0	$0	$0
KARA HAY	CHIEF EXECUTIVE OFFICER	0.01	Officer	$0	$35,929	$285,136
HEIDI LEBLANC	CHIEF OPERATING OFFICER	0.01	Officer	$0	$2,636	$167,786
DENICE CONARY	CHIEF FINANCIAL OFFICER	0.01	Officer	$0	$25,776	$209,560

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$3,199,574	$2,644,251	$17,936,911	$555,323
2023	$1,349,299	$1,023,730	$5,367,375	$325,569
2022	$956,721	$971,404	$4,435,351	$-14,683
2021	$696,546	$451,576	$2,894,592	$244,970
2020	$495,612	$375,164	$2,599,660	$120,448

PENQUIS DEVELOPMENT INC