Nonprofit · EIN 01-0541817
PENQUIS DEVELOPMENT INC
Tax-exempt · BANGOR, ME 04402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $2,813,064 | $3,071,568 | -$258,504 | $21,654,167 | $17,015,374 | $4,638,793 |
| September 30, 2024 | 990 | $3,199,574 | $2,644,251 | $555,323 | $17,936,911 | $14,428,064 | $3,508,847 |
| September 30, 2023 | 990 | $1,349,299 | $1,023,730 | $325,569 | $5,367,375 | $5,496,322 | -$128,947 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $254,019
- of which government grants
- $245,210
- Program service revenue
- $2,536,357
- Investment income
- $22,688
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $2,110
- Other salaries and wages
- $355,436
- Salaries, compensation and benefits (total)
- $389,800
- Professional fundraising fees
- $0
- Legal fees
- $23,647
- Accounting fees
- $51,514
- Occupancy
- $1,358,747
- Travel
- $26,419
- Depreciation
- $154,430
- Program services (functional)
- $3,071,568
Balance sheet and other
- Total assets, start of year
- $17,936,911
- Total assets, end of year
- $21,654,167
- Total liabilities, end of year
- $17,015,374
- Net assets, end of year
- $4,638,793
- Land, buildings and equipment
- $16,098,943
- Net assets without donor restrictions
- $4,638,793
- Gross receipts
- $2,813,064
- Employees
- 0
- Volunteers
- 6
- Year formed
- 2000
- State of legal domicile
- ME
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KARA HAY | CHIEF EXECUTIVE OFFICER Officer | 0.01 | $0 | $261,773 | $43,320 |
| DENICE CONARY | CHIEF FINANCIAL OFFICER Officer | 0.01 | $0 | $196,688 | $37,152 |
| HEIDI LEBLANC | CHIEF OPERATING OFFICER Officer | 0.01 | $0 | $173,435 | $20,291 |
| TYLER COLLINS | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JACK CLUKEY | DIRECTOR (THRU SEP 2025) Trustee or director | 1 | $0 | $0 | $0 |
| RICK HARNUM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MARK LEONARD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CATHERINE SULLIVAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRIAN THIBEAU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended September 30, 2024: 9 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| KARA HAY | CHIEF EXECUTIVE OFFICER Officer | 0.01 | $0 | $249,207 | $35,929 |
| DENICE CONARY | CHIEF FINANCIAL OFFICER Officer | 0.01 | $0 | $183,784 | $25,776 |
| HEIDI LEBLANC | CHIEF OPERATING OFFICER Officer | 0.01 | $0 | $165,150 | $2,636 |
| TYLER COLLINS | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| JACK CLUKEY | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RICK HARNUM | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MARK LEONARD | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CATHERINE SULLIVAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| BRIAN THIBEAU | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended September 30, 2023: 8 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Kara Hay | Chief Executive Officer Officer | 0 | $0 | $231,666 | $30,636 |
| Denice Conary | Chief Financial Officer Officer | 0.4 | $0 | $174,014 | $23,850 |
| Tyler Collins | Board Chair Trustee or director, Officer | 1 | $0 | $0 | $0 |
| Mark Leonard | Director Trustee or director | 1 | $0 | $0 | $0 |
| Jack Clukey | Director Trustee or director | 1 | $0 | $0 | $0 |
| Rick Harnum | Director Trustee or director | 1 | $0 | $0 | $0 |
| Brian Thibeau | Director Trustee or director | 1 | $0 | $0 | $0 |
| Catherine Sullivan | Director Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1162, BANGOR, ME 04402-1162
- In care of
- % DENICE CONARY
- Mailing address (990-N for 2018)
- 262 Harlow Street, Bangor ME 04401
- Principal officer (990 for 2024)
- KARA HAY, PO BOX 1162, BANGOR, ME 044021162
- Principal officer (990-N for 2018)
- Kara Hay, 262 Harlow Street, Bangor ME 04401
- Signed the 990
- DENICE CONARY, CHIEF FINANCIAL OFFICER
- Phone
- (207) 973-3500
- Website
- www.penquis.org
- Return prepared by
- WIPFLI ADVISORY LLC
Mission
TO PROMOTE AND PROVIDE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME RESIDENTS IN THE STATE OF MAINE.
Program accomplishments
- LOW INCOME HOUSING.Expenses $3,071,568 · grants $2,110 · revenue $2,536,357
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 01-0541817
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2002
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $21,654,167
- Income (IRS master file)
- $2,813,064
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $2,813,064 | $3,071,568 | $21,654,167 | XML |
| 990 | September 2024 | $3,199,574 | $2,644,251 | $17,936,911 | XML |
| 990 | September 2023 | $1,349,299 | $1,023,730 | $5,367,375 | XML |
| 990 | September 2022 | $956,721 | $971,404 | $4,435,351 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990-N for 2018 Officer: Kara Hay | September 30, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-0541817).
Questions about PENQUIS DEVELOPMENT INC
- What is the EIN of PENQUIS DEVELOPMENT INC?
- The employer identification number (EIN) of PENQUIS DEVELOPMENT INC is 01-0541817.
- Is PENQUIS DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
- Are donations to PENQUIS DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PENQUIS DEVELOPMENT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PENQUIS DEVELOPMENT INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PENQUIS DEVELOPMENT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of PENQUIS DEVELOPMENT INC?
- The 990 for the year ended September 30, 2025 names KARA HAY.
- Who are the officers and directors of PENQUIS DEVELOPMENT INC?
- The 990 for the year ended September 30, 2025 lists 9 people; 0 received compensation from the organization.
- How much revenue does PENQUIS DEVELOPMENT INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $2,813,064, expenses of $3,071,568 and total assets of $21,654,167 at year end.
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