Avesta Housing Development Corporation
Avesta Housing Development Corporation reported $13.5 million in revenue and $14.8 million in expenses for calendar year 2024. Of every $100 it spent, $100.00 went to program services, $0.00 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 55.3% of the total. Government grants made up 34.8%. The highest compensation it reported for one person was $445,503 (PRESIDENT (PAST)). 5 people received more than $100,000 in reportable compensation. Revenue rose 54% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $15MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $13MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 100.0% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 0.0% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 39.2% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 34.8% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 55.3% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $445,503 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.01% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 5 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 20.3 | 10.0 |
| Independent voting board members Part VI 1a–1b | 17 of 17 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseAll expenses relate to the development and preservation of affordable housing. Avesta draws upon years of reciprocal relationships with the financial industry, funders, community leaders, and housing advocates to develop, acquire, and preserve hundreds of affordable units each year. Avesta's development staff contributes extensive management, legal, financial, community planning, and construction experience. We adhere to smart growth principles, sustainability guidelines, and design standards informed by our development and property management experience. In addition to developing new…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT (PAST) Officer, 1.00 hrs/week | $422,503 | $0 | $23,000 | $445,503 |
| INTERIM PRESIDENT AND CEO Officer, 1.00 hrs/week | $205,707 | $0 | $47,322 | $253,029 |
| VP OF SENIOR LIVING Officer, 1.00 hrs/week | $167,149 | $0 | $40,500 | $207,649 |
| VP OF STRATEGIC INITIATIVE Officer, 1.00 hrs/week | $164,198 | $0 | $18,383 | $182,581 |
| VP OF ADVANCEMENT Officer, 1.00 hrs/week | $146,058 | $0 | $30,500 | $176,558 |
| VP OF PROPERTY MANAGEMENT Officer, 1.00 hrs/week | $0 | $134,309 | $28,558 | $162,867 |
5 people received more than $100,000 in reportable compensation from Avesta Housing Development Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.1M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b17 · 17 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 557
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| CURTIS THAXTER LLC Legal | $287,987 |
| MATTHEW JOHNSON DBA NEW AGE HOME IMPROVE Construction | $271,950 |
| A PLUS ENVIRONMENTAL LLC Environmental | $225,000 |
| FIREHOUSE VENTURES LLC Maintenance | $220,225 |
| CHARTER COMMUNICATIONS HOLDINGS LLC Communications | $165,683 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Private foundation grants it received
11 private foundations reported grants to Avesta Housing Development Corporation totaling $264K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Avesta Housing Development Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Avesta Housing Development Corporation, you can publish a response that is linked from this page.
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Of every $100 Avesta Housing Development Corporation spent in 2024, $100.00 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Wesley Housing Development Corporation of Northern VirginiaAlexandria, VA · revenue $13M · programs 92.2% · 2024
- Fresno Rescue MissionFresno, CA · revenue $13M · programs 70.4% · FY2025
- Alameda Affordable Housing CorporationAlameda, CA · revenue $13M · programs 57.1% · FY2025
- Holyoke Retirement CommunityPittsfield, MA · revenue $14M · programs 80.5% · 2024
- Fort Worth Area Habitat for HumanityFort Worth, TX · revenue $13M · programs 80.5% · 2025
All housing & shelter charities · Largest charities in Maine
Questions people ask
How much of Avesta Housing Development Corporation's spending goes to programs?
In calendar year 2024, Avesta Housing Development Corporation reported that 100.0% of its $14.8 million in expenses went to program services, 0.0% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Avesta Housing Development Corporation pay its top executive?
The largest total compensation Avesta Housing Development Corporation reported for one person in calendar year 2024 was $445,503, for the role of PRESIDENT (PAST) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Avesta Housing Development Corporation get its money?
Of $13.5 million in revenue in calendar year 2024, 39.2% came from contributions and grants (including 34.8% from government grants) and 55.3% from program service revenue (Form 990, Part VIII).
Is Avesta Housing Development Corporation a registered charity?
The IRS lists EIN 01-0315296 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202512959349301806 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202423099349302222 · read the filing
- 2022: Form 990 for calendar year 2022, object 202313179349301831 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203129349303905 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103159349303865 · read the filing
- 2019: Form 990 for calendar year 2019, object 202023179349305367 · read the filing
All filings for EIN 01-0315296: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.