KENNEBUNKPORT HERITAGE HOUSING TRUST 2

EIN: 841869040 Community Improvement

Kennebunkport, ME

Total Revenue
$162,899
Total Expenses
$12,336
Total Assets
$430,437
Net Assets
$430,437
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
ME
Principal Officer
Thomas McClain
Phone
2074322541
Tax Period
2023-01-01 to 2023-12-31

KENNEBUNKPORT HERITAGE HOUSING TRUST 2, founded in 2018, is a small nonprofit in the Community Improvement sector that reported $163K in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $151K, a strong 92% operating margin.

Mission

To provide and maintain affordable housing in Kennebunkport

Program Service Accomplishments

Program 1
Expenses: $12,151 Revenue: $0

In a joint project with the Kennebunkport Heritage Housing Trust, the Kennebunkport Heritage Housing Trust 2 acquired a donation of land from the town of Kennebunkport, Maine. The organizations plan...

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In a joint project with the Kennebunkport Heritage Housing Trust, the Kennebunkport Heritage Housing Trust 2 acquired a donation of land from the town of Kennebunkport, Maine. The organizations plan to build 6 affordable housing units on this approximately 5 acre parcel stating in 2024 and finishing in 2025. See Part VII Supplemental Information. The expenses were for legal fees to date to ensure clear title to the property.

Program 2
Expenses: $0 Revenue: $0

Identification of additional potential site in Kennebunkport for building moreaffordable housing units.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $160,900
Program Service Revenue $1,999
Investment Income $0
Other Revenue $0
TOTAL REVENUE $162,899

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $12,151
Other Expenses $12,336
TOTAL EXPENSES $12,336

Year-over-Year Comparison

2023 2022 Change
Revenue $162,899 $118,720 +0.4%
Expenses $12,336 N/A N/A
Net Income $150,563 $118,720 +0.3%
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

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
11

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
4
$0
Total Directors
12
$75,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Larissa Crockett Executive Director (non-voting) 0
Director
$0 $0 $75,000
Julie Grady President and Director 10
Officer Director
$0 $0 $0
Patrick Clancy Vice-President and Director 10
Officer Director
$0 $0 $0
Tom McLain Secretary and Director 10
Officer Director
$0 $0 $0
David Kling Treasurer and Director 10
Officer Director
$0 $0 $0
Patrick Briggs Director 10
Director
$0 $0 $0
Leah Adams Director 10
Director
$0 $0 $0
Stephanie Schafer Director 10
Director
$0 $0 $0
Randal Simon Director 10
Director
$0 $0 $0
Tom Myatt Director 10
Director
$0 $0 $0
Laurie Smith Trustee (non voting) 5
Director
$0 $0 $0
John Dyksta Director 5
Director
$0 $0 $0
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
2023 $162,899 $12,336 $430,437 $150,563
2021 $538,218 $601,787 $281,718 $-63,569
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