Housing Initiatives of New England
264 US Route 1 Bldg 300 Suite 2a, Scarborough, ME · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $4,720,182 | $3,413,907 | $109,334,199 |
| FY2024 | $6,184,582 | $2,887,809 | $102,734,406 |
| FY2023 | $30,556,443 | $3,197,692 | $98,250,108 |
| FY2022 | $12,614,146 | $3,848,180 | $68,930,660 |
| FY2021 | $7,030,512 | $3,580,578 | $63,949,558 |
| FY2020 | $9,874,060 | $3,936,888 | $59,303,574 |
| FY2019 | $6,023,602 | $3,929,633 | $51,783,174 |
| FY2018 | $11,522,689 | $4,105,560 | $48,030,450 |
| FY2017 | $5,691,426 | $5,032,664 | $41,853,064 |
| FY2016 | $6,934,867 | $4,795,615 | $40,193,713 |
| FY2015 | $6,500,370 | $4,297,979 | $37,685,443 |
| FY2014 | $8,726,475 | $5,166,012 | $35,817,950 |
| FY2013 | $5,492,703 | $4,854,845 | $32,276,567 |
| FY2012 | $5,356,825 | $4,834,488 | $30,697,010 |
Form 990 filings
The returns filed by Housing Initiatives of New England (EIN 22-3100803), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $647,293 | 14% |
| Program service revenue | $1,320,801 | 28% |
| Other revenue | $2,752,088 | 58% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $1,092,781 | 32% |
| Management & general | $2,321,126 | 68% |
| Fundraising | $0 | 0% |
What the numbers show
- Other revenue made up 58% of total revenue in FY2025.
- Program services accounted for 32% of functional expenses, management & general 68%, and fundraising 0%.
- 32% of functional expenses went to program services in FY2025. That is higher than 1.1% of 929 Housing & Shelter organizations nationwide (too few in ME for a state comparison).
- Net assets covered about 384.3 months of expenses at the end of the reporting year. That puts it in the 98th percentile among 127 Housing & Shelter organizations in ME.
- Total revenue was higher than 93.1% of 130 Housing & Shelter organizations in ME.
- Total revenue fell from $5,356,825 in FY2012 to $4,720,182 in FY2025. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2012 to FY2025.
- The highest revenue on record here is $30,556,443 in FY2023.
- Net assets grew from $30,697,010 to $109,334,199 between FY2012 and FY2025.
- Contributions and grants made up 48% of revenue in FY2012 and 14% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
LOW-INCOME HOUSING
IRS status
| Ruling year | 1991 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | L99Z — Housing & Shelter |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Similar organizations
- Coastal Enterprises Inc — Brunswick, ME · $19,896,255
- Maine Life Care Retirement Community Inc — Scarborough, ME · $36,977,131
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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