NonprofitsHome For The Aged

Human Services

Home For The Aged

PORTLAND, ME

Total revenue

$8.8M

Total expenses

$9.3M

Net assets

$5.3M

Grants received

$258K

10 grants

EIN

010211512

Tax year

2023

Mission

To provide high quality housing and services to those 60 years of age and older.

Programs

2 programs

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.

Expenses: $4.6M

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.

Expenses: $545K

Financials

FY 2023

Revenue

Contributions & grants$27K
Program service revenue$8.7M
Investment income$136K
Other revenue
Total revenue$8.8M

Expenses

Grants paid
Salaries & benefits$3.9M
Fundraising
Other expenses$5.4M
Total expenses$9.3M
Total assets$32.8M
Net assets$5.3M

People

16 listed

NameRoleCompensation

Lorri Sommer

CEO

Board

$151K

40 hrs/wk

Bruce Rutter

Director of Finance

Board

$104K

40 hrs/wk

Melissa Murphy

Secretary

Board

0.5 hrs/wk

Kathleen Coyne

Trustee

Board

0.5 hrs/wk

Robert Davis

Trustee

Board

0.5 hrs/wk

Joseph Gray

Trustee

Board

0.5 hrs/wk

Jennifer Gordon Hutchins

Trustee

Board

0.5 hrs/wk

Jason Straetz

President

Board

0.5 hrs/wk

Michael McGovern

Trustee

Board

0.5 hrs/wk

Thomas Michael Meuser

Trustee

Board

0.5 hrs/wk

Roberta Wright

Past 2nd Vice President

Board

0.5 hrs/wk

Matthew Holbrook

Past Trustee

Board

0.5 hrs/wk

Jeannine Lefevre

Trustee

Board

0.5 hrs/wk

Victoria Powers

1st Vice President

Board

0.5 hrs/wk

Janice McCormick

Treasurer

Board

0.5 hrs/wk

Denise M Vachon

Former CEO

Staff

$130K

0

Grants received

Showing 10 of 10

FromAmountPurposeYear
$46K
GENERAL SUPPORT
2023
$11K
GENERAL SUPPORT
2023
$45K
GENERAL SUPPORT
2022
$12K
GENERAL SUPPORT
2022
$39K
GENERAL SUPPORT
2021
$11K
GENERAL SUPPORT
2021
$37K
GENERAL SUPPORT
2020
$14K
GENERAL OPERATIONS
2020
$5K
GENERAL SUPPORT
2020
$38K
GENERAL SUPPORT
2018

Funded by

$258K from 3 funders · 10 grants · 2018–2023

Sallie Tod Home For Aged Women Tr

$204K · 5 grants · 2018–2023

Alice Kolb Tax Exempt Char Tr

$40K · 4 grants · 2020–2023

Details

EIN010211512
NTEE codeP750
Subsection03
Ruling date1942-07
Formed1881
Employees127
Volunteers48
HOME FOR THE AGED — Mission, Financials & Grants Received | Grantivo