2025-04-22T12:55:13-05:00 2024-06-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2023-07-01 010211512 Home for the Aged HOME 2077977710 777 Stevens Avenue Portland ME 04103 Lorri Sommer CEO 2077977710 2025-04-14 1 1 Joseph R Byrne P01289281 2077752387 2025-04-14 2023 2025-03-06 01:10:19Z The Park Danforth Lorri Sommer 777 Stevens Avenue Portland ME 04103 10944790 0 X www.parkdanforth.com X 1881 ME To provide high quality housing and services to those 60 years of age and older. 11 11 127 48 0 0 6095 26770 8305560 8684938 53043 135763 0 0 8364698 8847471 0 0 0 0 3785032 3882067 0 0 0 5297359 5433163 9082391 9315230 -717693 -467759 33166139 32783055 28129705 27436607 5036434 5346448 To provide housing and services that enhance a person's quality of life, respect personal dignity, and accommodate the need for privacy and self-determination. In doing so, we aim to respond to the individual's changing needs brought about through aging. 0 0 2615169 6442440 Home for the Aged provides high quality housing, meals, civic, cultural and recreational activities and emergency response service to the residents of its one hundred ten independent living apartments. Some of the apartments are offered at rates that are below-market rates, making them accessible to those whose resources are modest, yet not such that the individuals are eligible for federal assistance. These apartments are specially designed to optimally meet the needs of those who are aging in place. 4558449 2242498 Home for the Aged provides high quality housing, meals, personal care services, assistance with medications and civic, cultural and recreational activities to the residents of its thirty-six state-licensed assisted living studios. Some of the apartments are offered to low and very low income residents, subsidized by the State of Maine's MaineCare program. Home for the Aged operates the MaineCare supported studios at below-cost, and operating subsidies (to offset losses) are provided by the Home's endowment. Estimated operating subsidies in the current year were $719,951. 545469 Home for the Aged provides high quality, dignified, safe and affordable housing (70 independent living apartments) to those whose means are defined as "very low income or "extremely low income" in accordance with federal eligibility guidelines for the HUD Section 8 program. In providing Section 8 housing, Home for the Aged, in partnership with the U.S. Department of HUD, provides housing to those who would otherwise be at financial risk due to the high cost of housing and utilities. These apartments are specially designed to optimally meet the needs of those who are aging in place. As these residents age, by virtue of their residency, they are given priority for transfers to the assisted living program at such time as a higher level of care is needed. 7719087 1 0 0 1 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 29 0 1 127 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Lorri Sommer CEO 2077977710 777 Stevens Avenue Portland ME 041032644 Jason Straetz President 0.50 0.00 X X 0 0 0 Victoria Powers 1st Vice President 0.50 0.00 X X 0 0 0 Janice McCormick Treasurer 0.50 0.00 X X 0 0 0 Melissa Murphy Secretary 0.50 0.00 X X 0 0 0 Kathleen Coyne Trustee 0.50 0.00 X 0 0 0 Robert Davis Trustee 0.50 0.00 X 0 0 0 Joseph Gray Trustee 0.50 0.00 X 0 0 0 Jennifer Gordon Hutchins Trustee 0.50 0.00 X 0 0 0 Jeannine Lefevre Trustee 0.50 0.00 X 0 0 0 Michael McGovern Trustee 0.50 0.00 X 0 0 0 Thomas Michael Meuser Trustee 0.50 0.00 X 0 0 0 Roberta Wright Past 2nd Vice President 0.50 0.00 X X 0 0 0 Matthew Holbrook Past Trustee 0.50 0.00 X 0 0 0 Lorri Sommer CEO 40.00 0.00 X 151359 0 24961 Bruce Rutter Director of Finance 40.00 0.00 X 104332 0 15334 Denise M Vachon Former CEO 0.00 0.00 X 129516 0 11100 385207 0 51395 3 1 1 0 0 26770 26770 Rental Income 623990 8766015 8766015 Meal Income 623990 591838 578177 13661 Other Income 623990 47036 12460 34576 Contractual Adjustment 623990 -719951 -719951 8684938 140470 140470 2092612 2097319 -4707 -4707 -4707 8847471 8636701 0 184000 295986 295986 2683147 2282589 400558 102833 89126 13707 569890 464673 105217 230211 178804 51407 20148 20148 89253 89253 29884 29884 63973 21506 42467 129575 129575 169184 40104 129080 176820 14427 162393 1092411 1090684 1727 2579 2142 437 19486 3515 15971 1088635 1088635 1497484 1497484 181951 59507 122444 Food Service Expenses 596444 596444 Miscellaneous 234384 118920 115464 Service Provider Tax 40952 40952 9315230 7719087 1596143 0 X 521206 556065 1325844 1430350 23766 48492 20352 18227 45767596 21206240 25786401 24561356 5488570 6168565 33166139 32783055 568313 471569 26301211 25691933 904352 885690 355829 387415 28129705 27436607 X 2201300 2079192 2835134 3267256 5036434 5346448 33166139 32783055 -467759 777773 0 X 0 1 X 1 1 1 X 14534 709881 167778 6095 26770 925058 6744982 6490454 6922857 8305560 8684938 37148791 6759516 7200335 7090635 8311655 8711708 38073849 0 162672 87257 106277 80522 42185 478913 162672 87257 106277 80522 42185 478913 37594936 125558 113334 121746 143940 140470 645048 125558 113334 121746 143940 140470 645048 6885074 7313669 7212381 8455595 8852178 38718897 0.97100 0.96750 0.01670 0.01740 X 0 0 0 0 0 0 0 0 1 223 223 0 Part II-B, Line 1: The Organization pays dues to local associations. A portion of those dues are related to lobbying activities. 5488570 200004 882651 402660 6168565 5239878 200004 328226 279538 5488570 6268745 200004 -476007 752864 5239878 5896584 200004 586152 413995 6268745 5889181 152490 303547 448634 5896584 0.47034 0.15158 0.37808 0 0 2500640 2500640 39184614 20025054 19159560 2290256 1013058 1277198 1792086 168128 1623958 24561356 Security Deposits 387415 387415 9595360 777773 777773 8817587 29884 29884 8847471 9285346 0 9285346 29884 29884 9315230 Part V, Line 4: The endowment funds of the Home for the Aged are made up of four groups (Group I, Group II, Group III, and Samuel Clark, Jr. Funds) each with its own guidelines for usage. The use of Group I income is unrestricted with the principal being classified as not expendable. The use of Group II income is expendable to support aged married couples with the principal being classified as not expendable. The Home maintains this requirement by giving priority to couples and survivors of couples when filling vacant residential units. The use of Group III funds is unrestricted for both principal and income. The use of the Clark Fund principal and income is expendable to support aged married couples. The Home maintains this requirement by giving priority to couples and survivors of couples when filling vacant residential units. Based on the guidelines of each group, the usage of funds from the endowments is used to help with the cost of operating the Organization. X X X 0 0 0 0 0 0 0 0 0 Lorri Sommer CEO 151359 0 0 0 0 0 7242 0 17719 0 176320 0 0 0 Denise M Vachon Former CEO 129516 0 0 0 0 0 5858 0 5242 0 140616 0 0 0 A Maine State Housing Authority 010312916 2015-12-10 29860162 Construction of New Facility 0 0 0 A 3927676 29860162 29860162 2016 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 Form 990, Part VI, Section B, line 11b Lorri Sommer, Chief Executive Officer (CEO), reviews prepared 990 and work performed by Bruce Rutter, Director of Finance, in conjunction with preparation prior to a Finance Committee meeting. Members of the Finance Committee receive a copy of the prepared 990 and meet with Joe Byrne, Berry Dunn, to discuss preparation. Finance Committee recommends approval to the Board of Trustees. Board of Trustees receives copy of prepared 990 and votes to approve the return prior to filing. Form 990, Part VI, Section B, line 12c The Organization's Conflict of Interest Policy covers Trustees, Officers and Key Employees (CEO, COO, and CFO). The Organization reviews the Conflict of Interest Policy with these individuals annually and requires them to complete and sign an acknowledgement and disclosure questionnaire. The Organization's officers also monitor transactions during the year for known conflicts of interest. The policy requires that any conflict of interest transaction be authorized, approved or ratified by the majority of board members who do not have an interest. A conflict of interest transaction can only be approved, authorized or ratified if the material facts are known, the transaction is fair and equitable to the Organization and any conflict of interest is not substantial. Documentation of all relevant information is maintained in the board minutes. Form 990, Part VI, Section B, line 15 Compensation budgets, including proposed wage increases and comparative data, are reviewed annually by the Board of Trustee's Personnel Committee. Discussion and decisions are documented in meeting minutes. CEO compensation is determined annually by the Board of Trustees based on performance and comparative data and documented in writing. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipments Section 1.263(a)-3(n) Election: Home for the Aged 777 Stevens Avenue Portland, ME 04103 EIN: 01-0211512 Home for the Aged is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). HFA HUD Properties LLC 777 Stevens Avenue Portland ME 04103 465670015 Holding Company ME 1421691 3682489 Home for the Aged