3i Housing of Maine

EIN: 852568325 501(c)(3) Housing & Shelter

Topsham, ME

Total Revenue
$4,640,804
Total Expenses
$306,883
Total Assets
$4,403,359
Net Assets
$4,380,780
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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
ME
Principal Officer
Paul Linet
Phone
2074894663
Tax Period
2023-01-01 to 2023-12-31

3i Housing of Maine, founded in 2020, is a community nonprofit in the Housing & Shelter sector that reported $4.6M in total revenue in fiscal year 2023. The organization ran a surplus of $4.3M, a strong 93% operating margin.

Mission

3i Housing of Maine is a 501(c)(3) non-profit organization creating independent community-based living options for people with disabilities through innovative technology and person-centered housing options with self-directed integrated support services.

Program Service Accomplishments

Program 1
Expenses: $201,623 Revenue: $88,625

Accomplishments to Date:1. Launch Maine's first sustainable, universally-designed multi-family affordable rental apartments for people with disabilities in a diverse community-based setting with...

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Accomplishments to Date:1. Launch Maine's first sustainable, universally-designed multi-family affordable rental apartments for people with disabilities in a diverse community-based setting with cutting-edge, new and proven assistive and adaptive technologies, integrated support services and a welcoming and expansive community network. - Our first project, in partnership with Preservation of Affordable Housing (POAH) is co-developing a fully-accessible low-income housing complex (51 units) in Scarborough, Maine. To date we have had approximately 60 public inquiries regarding our project in Scarborough. The 1-, 2- and 3-bedroom apartments are designed according to principles of Universal Design for easy mobility with or without a wheelchair. Bathrooms, kitchens and all living areas will be barrier free and the entire building will be wired for adaptable environmental controls and smart home functionality. The apartments are targeted for a fall 2026 occupancy.2. Be the innovator and catalyst, starting in Maine, for researchers, inventors, educators, advocates and people living with disabilities and mobility impairments by identifying issues and needs; designing, testing and implementing technologies; and managing a state of the art 3i HoME mobility and assistive technology hub (MATH) and Workshop (ATEC). - Our Mobility and Assistive Technology Hub (MATH) and our Adaptive Technology Enhancement Center (ATEC), will be located on the ground floor of our Scarborough project. The MATH will be the focal point for problem solving and developing AT (Assistive Technology) solutions for our residents and for members of the general community. We have had substantive discussions with local thought leaders including: the University of Maine, Northeastern University, the University of New England. In the summer of 2024, 3i HoME worked hand-in-hand with Northeastern's Roux Institute to launch a 6-week pilot Enabling Engineering program involving high school robotics enthusiasts. Students worked with a 3i HoME Board of Directors member to create a safety related device to attach to a wheelchair, solving a real power chair user challenge.3. 3i HoME Infrastructure - 3i HoME continues to advance its culture of transparency, accountability, and trust while seeking to secure additional sustainable funding in support of its mission. 3i HoME's leadership will continue to build the organization's human resource capacity; and implement policies and procedures following sound business practices including personnel, document retention and destruction and whistleblowing policies.4. In 2024-2025 3i HoME will be assessing new locations and mixed-income model options for the next phase of our growth into rural parts 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,525,368
Program Service Revenue $88,625
Investment Income $23,266
Other Revenue $3,545
TOTAL REVENUE $4,640,804

Expense Breakdown

Grants Paid $0
Salaries & Benefits $155,779
Fundraising Expenses $38,491
Program Expenses $201,623
Other Expenses $151,104
TOTAL EXPENSES $306,883

Year-over-Year Comparison

2023 2022 Change
Revenue $4,640,804 N/A N/A
Expenses $306,883 N/A N/A
Net Income $4,333,921 $0 N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
8
Independent Members
6
Employees
2
Volunteers
7

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
2
$81,500
Total Directors
8
$113,500
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paul Linet CEO & President 30.00
Officer Director
$81,500 $0 $81,500
Elizabeth White Treasurer 2.00
Officer Director
$0 $0 $0
Adam Cohen Board Member 1.00
Director
$0 $0 $0
Drew Gattine Board Member 1.00
Director
$0 $0 $0
Diana Pinchuk Board Member 1.00
Director
$0 $0 $0
Marva Serotkin Board Member 1.00
Director
$0 $0 $0
Mitch Sturgeon Board Member 2.00
Director
$0 $0 $0
Michelle Wurgler Board Member 2.00
Director
$32,000 $0 $32,000
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 No data No data No data No data
2023 $4,640,804 $306,883 $4,403,359 $4,333,921
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