Stepping Stone Housing, Inc.
Stepping Stone Housing, Inc.
EIN: 46-4169760
as of September 2023
as of September 18, 2023
Programs and results
What we aim to solve
Lincoln County Maine has a shortage of affordable rental housing. According to the Maine State Housing website almost 60% of rental households are not able to afford the median rent. Stepping Stone Housing strives to provide affordable housing by providing housing units for no more that 40% of household income. Our average monthly rental is well below the county median rental of $808.00 per month. In fact it is less than one-half of the median. We are striving to provide a "step up" to those earning less than a living wage.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Blue Haven
Housing Development in Damariscotta
Where we work
External reviews

Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Our goal is to acquire and develop more residential units for affordable housing, emergency housing and transitional housing.
What are the organization's key strategies for making this happen?
We hope to solicit grants and contributions as well as leveraging our existing assets to develop properties we currently own and acquire new properties.
What are the organization's capabilities for doing this?
We have established relationships with area grantors and organizations who support our program and goals. We have a lot of support from area churches. Since we are completely volunteer run and have extremely low overhead we are a trusted partner for our donors and stakeholders.
What have they accomplished so far and what's next?
We have acquired and maintain four properties in three Lincoln County towns. Our immediate goal is to add more dwelling units to one of our properties in Damariscotta which has the potential for additional multiple units.
Financials
Revenue vs. expenses: breakdown
Liquidity in 2022 info
0.33
Months of cash in 2022 info
15.9
Fringe rate in 2022 info
0%
Funding sources info
Assets & liabilities info
Financial data
Stepping Stone Housing, Inc.
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of Stepping Stone Housing, Inc.’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
Profitability info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Unrestricted surplus (deficit) before depreciation | $175,706 | $3,530 | $183,171 | $191,694 | $147,620 |
As % of expenses | 148.0% | 3.6% | 275.8% | 197.5% | 136.0% |
Unrestricted surplus (deficit) after depreciation | $157,645 | -$17,250 | $159,178 | $162,038 | $109,643 |
As % of expenses | 115.3% | -14.4% | 176.1% | 127.9% | 74.8% |
Revenue composition info | |||||
---|---|---|---|---|---|
Total revenue (unrestricted & restricted) | $294,437 | $164,635 | $187,390 | $303,768 | $263,161 |
Total revenue, % change over prior year | 66.7% | -44.1% | 13.8% | 62.1% | -13.4% |
Program services revenue | 16.9% | 28.5% | 24.8% | 16.7% | 23.9% |
Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Investment income | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 6.2% |
All other grants and contributions | 83.1% | 73.9% | 75.2% | 83.3% | 69.8% |
Other revenue | 0.0% | -2.4% | 0.0% | 0.0% | 0.0% |
Expense composition info | |||||
---|---|---|---|---|---|
Total expenses before depreciation | $118,721 | $98,705 | $66,414 | $97,075 | $108,540 |
Total expenses, % change over prior year | 32.8% | -16.9% | -32.7% | 46.2% | 11.8% |
Personnel | 31.2% | 28.8% | 2.3% | 1.4% | 0.0% |
Professional fees | 0.0% | 0.0% | 0.6% | 0.9% | 0.0% |
Occupancy | 31.0% | 31.4% | 58.8% | 54.3% | 67.8% |
Interest | 15.0% | 17.3% | 24.2% | 16.0% | 17.5% |
Pass-through | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
All other expenses | 22.7% | 22.6% | 14.1% | 27.4% | 14.6% |
Full cost components (estimated) info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Total expenses (after depreciation) | $136,782 | $119,485 | $90,407 | $126,731 | $146,517 |
One month of savings | $9,893 | $8,225 | $5,535 | $8,090 | $9,045 |
Debt principal payment | $98,739 | $9,671 | $0 | $11,338 | $0 |
Fixed asset additions | $187,422 | $0 | $137,217 | $257,824 | $217,119 |
Total full costs (estimated) | $432,836 | $137,381 | $233,159 | $403,983 | $372,681 |
Capital structure indicators
Liquidity info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Months of cash | 9.2 | 15.3 | 33.0 | 16.3 | 15.9 |
Months of cash and investments | 9.2 | 15.6 | 33.7 | 16.3 | 16.4 |
Months of estimated liquid unrestricted net assets | 11.4 | 13.4 | 30.9 | 11.5 | 11.3 |
Balance sheet composition info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Cash | $90,679 | $126,104 | $182,458 | $131,735 | $143,677 |
Investments | $0 | $2,566 | $4,145 | $0 | $5,008 |
Receivables | $32,389 | $54,510 | $10,833 | $4,434 | $3,170 |
Gross land, buildings, equipment (LBE) | $808,161 | $801,829 | $940,432 | $1,197,096 | $1,414,215 |
Accumulated depreciation (as a % of LBE) | 5.0% | 7.4% | 9.0% | 9.4% | 10.7% |
Liabilities (as a % of assets) | 44.4% | 41.7% | 37.7% | 31.7% | 32.8% |
Unrestricted net assets | $494,770 | $477,520 | $636,698 | $798,736 | $908,379 |
Temporarily restricted net assets | $0 | N/A | N/A | N/A | N/A |
Permanently restricted net assets | $0 | N/A | N/A | N/A | N/A |
Total restricted net assets | $0 | $62,400 | $20,000 | $35,000 | $42,000 |
Total net assets | $494,770 | $539,920 | $656,698 | $833,736 | $950,379 |
Key data checks
Key data checks info | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
President
Pastor Marilee Harris
Marilee joined the Stepping Stone Housing Board in 2016. She was hired as executive director on July 1, 2016 and served until August 31, 2019 when she accepted a full-time teaching position. She was immediately elected as president at the September 2019 meeting succeeding Bill Howlett and becoming SSHI’s second president. Marilee is also the pastor at the Damariscotta Baptist Church and has a passion for the mission of SSHI.
Number of employees
Source: IRS Form 990
Stepping Stone Housing, Inc.
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
Stepping Stone Housing, Inc.
Board of directorsas of 06/11/2023
Board of directors data
Marilee Harris
Marilee Harris
Mal Briggs
Carolyn Neighoff
Kellie Peters
Lonnie Anderson
Kimberley Tolley
Bruce Bachelder
Ken Lydecker
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and education
Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? No
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as: