SOUTHERN MAINE FINANCE AGENCY: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHERN MAINE FINANCE AGENCY (EIN 01-0472964)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-05-16
- IRS object ID
- 202231369349301148
- Schema version
- 2020v4.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-05-16T08:28:51-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 010440155 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RUNYON KERSTEEN OUELLETTE | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 LONG CREEK DR | AddressLine1Txt |
| City | SOUTH PORTLAND | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 04106 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 010472964 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTHERN MAINE FINANCE AGENCY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUT | BusinessNameControlTxt |
| Phone | 2072821748 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 POMERLEAU STREET | AddressLine1Txt |
| City | BIDDEFORD | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 04005 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM O ARMITAGE II | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 2072821748 | PhoneNum |
| Signature | 2022-05-11 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | WILLIAM O | PersonFirstNm |
| Person Last | ARMITAGE II | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AMY CHASSE | PreparerPersonNm |
| PTIN | P00967183 | PTIN |
| Phone | 2077732986 | PhoneNum |
| Preparation | 2022-05-11 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Change | Yes (X) | NameChangeInd |
| Principal Officer | WILLIAM O ARMITAGE II | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 POMERLEAU STREET | AddressLine1Txt |
| Address Line2 | SUITE 300 | AddressLine2Txt |
| City | BIDDEFORD | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 04005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $753,911 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | SMFAMAINE.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1992 | FormationYr |
| Legal Domicile State | ME | LegalDomicileStateCd |
| Activity Or Mission | TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 16 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 5 | TotalEmployeeCnt |
| Total Volunteers | 19 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $214,656 | PYContributionsGrantsAmt |
| CY Contributions Grants | $92,808 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $602,441 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $659,606 | CYProgramServiceRevenueAmt |
| PY Investment Income | $11,831 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,497 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $828,928 | PYTotalRevenueAmt |
| CY Total Revenue | $753,911 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $315,016 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $362,241 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $2,750 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $361,733 | PYOtherExpensesAmt |
| CY Other Expenses | $222,170 | CYOtherExpensesAmt |
| PY Total Expenses | $676,749 | PYTotalExpensesAmt |
| CY Total Expenses | $584,411 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $152,179 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $169,500 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $7,936,623 | TotalAssetsBOYAmt |
| Total Assets EOY | $7,914,539 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $3,002,725 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,855,153 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,933,898 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $5,059,386 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $370,058 | ExpenseAmt |
| Revenue | $659,606 | RevenueAmt |
| Desc | THE AGENCY SERVICES LOANS MADE IN PRIOR YEARS AND MADE NEW LOANS, INCLUDING THE SBA 504 PROGRAM, TO COMPANIES LOCATED IN, AND PROVIDED JOBS, WITHIN YORK COUNTY AND THE STATE OF MAINE. | Desc |
| Total Program Service Expenses | $370,058 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (true) | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | false | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (true) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 5 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 16 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM O ARMITAGE II | PersonNm |
| Phone | 2072821748 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 20 POMERLEAU STREET | AddressLine1Txt |
| Address Line2 | SUITE 300 | AddressLine2Txt |
| City | BIDDEFORD | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 04005 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|
| WILLIAM O ARMITAGE II | ||||||
| PRESIDENT | 40.00 | Yes (X) | $111,596 | $0 | $26,221 | |
| RICHARD HODGDON | ||||||
| CHAIR | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| LORRAINE BOSTON | ||||||
| CO-CHAIR | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| JAN WILLIAMS | ||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| KEITH JACQUES | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| MATHEW EDDY | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| ALAN CASAVANT | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| JAMES NIMON | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| GARY SAMIA | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| MARSHALL ARCHER | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| DENISE CLAVETTE | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| BETTY OLSEN | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| RICK OLSEN | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| ROBERT NADEAU | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| BRIAN HALEY | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| ANDY KANY | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| PAUL SCHUMACHER | ||||||
| DIRECTOR | 0.50 | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $111,596 | TotalReportableCompFromOrgAmt |
| Total Other Compensation | $26,221 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | false | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
| Government Grants | $92,808 | GovernmentGrantsAmt |
| Noncash Contributions | $5,064 | NoncashContributionsAmt |
| Total Contributions | $92,808 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST INCOME | 900099 | $453,245 | $453,245 |
| LOAN FEE INCOME | 900099 | $206,361 | $206,361 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $659,606 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,497 | TotalRevenueColumnAmt |
| Exclusion | $1,497 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $753,911 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $659,606 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $1,497 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,517 | TotalAmt |
| Program Services | $55,007 | ProgramServicesAmt |
| Management And General | $79,760 | ManagementAndGeneralAmt |
| Fundraising | $2,750 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $167,616 | TotalAmt |
| Program Services | $115,516 | ProgramServicesAmt |
| Management And General | $52,100 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,439 | TotalAmt |
| Program Services | $3,061 | ProgramServicesAmt |
| Management And General | $1,378 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,384 | TotalAmt |
| Program Services | $21,619 | ProgramServicesAmt |
| Management And General | $9,765 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,285 | TotalAmt |
| Program Services | $12,219 | ProgramServicesAmt |
| Management And General | $9,066 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $849 | TotalAmt |
| Program Services | $487 | ProgramServicesAmt |
| Management And General | $362 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,500 | TotalAmt |
| Program Services | $8,899 | ProgramServicesAmt |
| Management And General | $6,601 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,016 | TotalAmt |
| Program Services | $12,065 | ProgramServicesAmt |
| Management And General | $8,951 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,755 | TotalAmt |
| Program Services | $2,730 | ProgramServicesAmt |
| Management And General | $2,025 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,269 | TotalAmt |
| Program Services | $6,469 | ProgramServicesAmt |
| Management And General | $4,800 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,017 | TotalAmt |
| Program Services | $2,306 | ProgramServicesAmt |
| Management And General | $1,711 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,951 | TotalAmt |
| Program Services | $57,951 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,331 | TotalAmt |
| Program Services | $13,968 | ProgramServicesAmt |
| Management And General | $10,363 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $18,957 | TotalAmt |
| Program Services | $10,883 | ProgramServicesAmt |
| Management And General | $8,074 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| ANNUAL PROGRAM FEE | $24,462 | $24,462 | |
| MISCELLANEOUS | $17,696 | $10,159 | $7,537 |
| REPAIRS AND MAINTENANCE | $14,994 | $8,608 | $6,386 |
| DUES & MEMBERSHIPS | $2,670 | $1,533 | $1,137 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,703 | TotalAmt |
| Program Services | $2,116 | ProgramServicesAmt |
| Management And General | $1,587 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $584,411 | TotalAmt |
| Program Services | $370,058 | ProgramServicesAmt |
| Management And General | $211,603 | ManagementAndGeneralAmt |
| Fundraising | $2,750 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $219,516 | BOYAmt |
| EOY | $182,176 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,419,924 | BOYAmt |
| EOY | $2,080,692 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $157,851 | BOYAmt |
| EOY | $28,145 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,065,535 | BOYAmt |
| EOY | $5,573,299 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,804 | BOYAmt |
| EOY | $6,160 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $161,482 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $117,415 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $66,993 | BOYAmt |
| EOY | $44,067 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,936,623 | BOYAmt |
| EOY | $7,914,539 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,296 | BOYAmt |
| EOY | $89,085 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,675,020 | BOYAmt |
| EOY | $2,505,377 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,700 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $258,709 | BOYAmt |
| EOY | $260,691 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,002,725 | BOYAmt |
| EOY | $2,855,153 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $681,917 | BOYAmt |
| EOY | $738,860 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,251,981 | BOYAmt |
| EOY | $4,320,526 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,933,898 | BOYAmt |
| EOY | $5,059,386 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,936,623 | BOYAmt |
| EOY | $7,914,539 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $169,500 | ReconcilationRevenueExpnssAmt |
| Donated Services And Use Fclts | -$5,064 | DonatedServicesAndUseFcltsAmt |
| Other Changes In Net Assets | -$38,948 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $487,453 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $445,642 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $362,183 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $214,656 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $92,808 | CurrentTaxYearAmt |
| Total | $1,602,742 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,064 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,064 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,064 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,064 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,064 | CurrentTaxYearAmt |
| Total | $25,320 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $492,517 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $450,706 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $367,247 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $219,720 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $97,872 | CurrentTaxYearAmt |
| Total | $1,628,062 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $1,628,062 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $854 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,462 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,057 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $11,831 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,497 | CurrentTaxYearAmt |
| Total | $19,701 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $1,647,763 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $1,561,976 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.98800 | PublicSupportCY170Pct |
| Public Support PY170 | 0.99870 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | false | VolunteersInd |
| Paid Staff Or Management | Yes (true) | PaidStaffOrManagementInd |
| Media Advertisements | false | MediaAdvertisementsInd |
| Mailings Members | false | MailingsMembersInd |
| Publications Or Broadcast | false | PublicationsOrBroadcastInd |
| Grants Other Organizations | false | GrantsOtherOrganizationsInd |
| Direct Contact Legislators | Yes (true) | DirectContactLegislatorsInd |
| Direct Contact Legislators | $2,750 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | false | RalliesDemonstrationsInd |
| Other Activities | false | OtherActivitiesInd |
| Total Lobbying Expenditures | $2,750 | TotalLobbyingExpendituresAmt |
| Not Described Section501c3 | false | NotDescribedSection501c3Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE C, PART I-A, LINE 1 | FormAndLineReferenceDesc |
| Explanation | THE PRESIDENT AND/OR OTHER EMPLOYEES ATTENDED MEETINGS OF VARIOUS STATE COMMITTEES AND/OR LEGISLATORS, CITY COUNCILS, AND OUR FEDERAL CONGRESSIONAL DELEGATION TO PRESENT REPORTS OR UPDATES ON ACTIVITIES. | ExplanationTxt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $161,482 | OtherCostOrOtherBasisAmt |
| Depreciation | $117,415 | DepreciationAmt |
| Book Value | $44,067 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $44,067 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CITY OF BIDDEFORD MICRO LOAN PAYABLE | $251,513 |
| CAPITAL LEASE | $9,178 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $260,691 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $748,847 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $748,847 | RevenueSubtotalAmt |
| Other Revenues Not Included | $5,064 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $5,064 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $753,911 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $584,411 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $584,411 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $584,411 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PAGE 3, PART X | ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE SMFA AND RECOGNIZE A TAX LIABILITY IF THE SMFA HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES. THE SMFA IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. |
| SCHEDULE D, PAGE 4, PART XI, LINE 4B | DONATED USE OF FACILITIES 5,064 |
| SCHEDULE D, PAGE 4, PART XIII | THE SMFA IS OPERATING AS A NOT-FOR-PROFIT ORGANIZATION AND HAS RECEIVED AN INTERNAL REVENUE SERVICE DETERMINATION OF BEING EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3). THERE HAS BEEN NO PROVISION FOR INCOME TAXES AS A RESULT, AND CONTRIBUTIONS TO THE SMFA ARE GENERALLY TAX DEDUCTIBLE. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (2 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| KEITH JACQUES | |||
| BOARD MEMBER | $350,000 | BIDDEFORD SAVINGS | false |
| ANDY KANY | |||
| BOARD MEMBER | $350,000 | SACO & BIDDEFORD SAV | false |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART V | FormAndLineReferenceDesc |
| Explanation | (A) NAME OF PERSON: KEITH JACQUES (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BOARD MEMBER IS ON THE BOARD OF DIRECTORS OF THE BIDDEFORD SAVINGS BANK. (D) DESCRIPTION OF TRANSACTION: BIDDEFORD SAVINGS EQ2 LOANS MAKE UP 1/4 OF THE TOTAL EQ2 LOANS MADE TO THE ORGANIZATION, 350,000. ADDITIONALLY, THE BANK IS A 1/4 PARTICIPANT IN A 1,000,000 LINE OF CREDIT ARRANGEMENT WITH A ZERO OUTSTANDING BALANCE. (A) NAME OF PERSON: ANDY KANY (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BOARD MEMBER IS ON THE BOARD OF DIRECTORS OF THE SACO & BIDDEFORD SAVINGS BANK. (D) DESCRIPTION OF TRANSACTION: SACO & BIDDEFORD SAVINGS BANK EQ2 LOANS MAKE UP 1/4 OF THE TOTAL EQ2 LOANS MADE TO THE ORGANIZATION, 350,000. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 7A | THE CITIES OF BIDDEFORD, ME AND SACO, ME AND THE SANFORD REGIONAL ECONOMIC GROWTH COUNCIL EACH HAVE TWO SEATS ON THE BOARD, AND THE BIDDEFORD-SACO CHAMBER OF COMMERCE & INDUSTRY, THE KENNEBUNK DEVELOPMENT CORPORTATION, AND THE SOUTHERN MAINE PLANNING AND DEVELOPMENT COMMISSION EACH HAVE ONE SEAT ON THE BOARD. |
| FORM 990, PAGE 6, PART VI, LINE 11B | A COPY OF THIS FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS AND THE PRESIDENT FOR REVIEW PRIOR TO FILING. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THIS POLICY IS REVIEWED AND SIGNED BY THE BOARD OF DIRECTORS AT EACH ANNUAL MEETING. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE PRESIDENT'S PERFORMANCE AND TO APPROVE HIS COMPENSATION PACKAGE. UPON INITIAL HIRING AND PERIODICALLY OVER THE YEARS A MORE EXHAUSTIVE REVIEW, INCLUDING COMPARABILITY DATA, IS PERFORMED. |
| FORM 990, PAGE 6, PART VI, LINE 19 | DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST WHETHER BY EMAIL PHONE OR IN-PERSON. ADDITIONALLY, INFORMATION REGARDING THE ORGANIZATION CAN BE FOUND ON THE INTERNET AT GUIDESTAR.ORG. |
| FORM 990, PART XI, LINE 9 | TRANSFER OF PTSCDC NET ASSETS -38,948 |
| FORM 990, PAGE 12, PART XII, LINE 2C | THE EXECUTIVE COMMITTEE ACTS AS THE AUDIT COMMITTEE. THE PROCESS FOR OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITORS HAS NOT CHANGED FROM THE PRIOR YEAR. |