2022-05-16T08:28:51-05:00 2021-06-30 010440155 RUNYON KERSTEEN OUELLETTE 20 LONG CREEK DR SOUTH PORTLAND ME 04106 990 2020-07-01 010472964 SOUTHERN MAINE FINANCE AGENCY SOUT 2072821748 20 POMERLEAU STREET BIDDEFORD ME 04005 WILLIAM O ARMITAGE II PRESIDENT 2072821748 2022-05-11 true WILLIAM O ARMITAGE II 999009999 AMY CHASSE P00967183 2077732986 2022-05-11 2020 2022-09-23 18:48:47Z X WILLIAM O ARMITAGE II 20 POMERLEAU STREET SUITE 300 BIDDEFORD ME 04005 753911 false X SMFAMAINE.ORG X 1992 ME TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS. 16 15 5 19 0 214656 92808 602441 659606 11831 1497 0 828928 753911 0 0 315016 362241 0 2750 361733 222170 676749 584411 152179 169500 7936623 7914539 3002725 2855153 4933898 5059386 TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS. false false 370058 659606 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. 370058 true true false true false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false true false false false false false false false false false true 0 0 true 5 true false false false false false false false false X 16 15 false false false false false true false true true false false true true true true true true true false false X WILLIAM O ARMITAGE II 2072821748 20 POMERLEAU STREET SUITE 300 BIDDEFORD ME 04005 WILLIAM O ARMITAGE II PRESIDENT 40.00 X 111596 0 26221 RICHARD HODGDON CHAIR 0.50 X X 0 0 0 LORRAINE BOSTON CO-CHAIR 1.00 X X 0 0 0 JAN WILLIAMS TREASURER 1.00 X X 0 0 0 KEITH JACQUES SECRETARY 1.00 X X 0 0 0 MATHEW EDDY DIRECTOR 0.50 X 0 0 0 ALAN CASAVANT DIRECTOR 0.50 X 0 0 0 JAMES NIMON DIRECTOR 0.50 X 0 0 0 GARY SAMIA DIRECTOR 0.50 X 0 0 0 MARSHALL ARCHER DIRECTOR 0.50 X 0 0 0 DENISE CLAVETTE DIRECTOR 0.50 X 0 0 0 BETTY OLSEN DIRECTOR 0.50 X 0 0 0 RICK OLSEN DIRECTOR 0.50 X 0 0 0 ROBERT NADEAU DIRECTOR 0.50 X 0 0 0 BRIAN HALEY DIRECTOR 0.50 X 0 0 0 ANDY KANY DIRECTOR 0.50 X 0 0 0 PAUL SCHUMACHER DIRECTOR 0.50 X 0 0 0 111596 26221 1 false false false 92808 5064 92808 INTEREST INCOME 900099 453245 453245 LOAN FEE INCOME 900099 206361 206361 659606 1497 1497 753911 659606 1497 137517 55007 79760 2750 167616 115516 52100 4439 3061 1378 31384 21619 9765 21285 12219 9066 849 487 362 15500 8899 6601 21016 12065 8951 4755 2730 2025 11269 6469 4800 4017 2306 1711 57951 57951 24331 13968 10363 18957 10883 8074 ANNUAL PROGRAM FEE 24462 24462 MISCELLANEOUS 17696 10159 7537 REPAIRS AND MAINTENANCE 14994 8608 6386 DUES & MEMBERSHIPS 2670 1533 1137 3703 2116 1587 584411 370058 211603 2750 219516 182176 1419924 2080692 157851 28145 6065535 5573299 6804 6160 161482 117415 66993 44067 7936623 7914539 21296 89085 2675020 2505377 47700 258709 260691 3002725 2855153 X 681917 738860 4251981 4320526 4933898 5059386 7936623 7914539 X 169500 -5064 -38948 X X false true X true true true X 487453 445642 362183 214656 92808 1602742 5064 5064 5064 5064 5064 25320 492517 450706 367247 219720 97872 1628062 1628062 854 1462 4057 11831 1497 19701 1647763 1561976 0.98800 0.99870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 2750 false false 2750 false SCHEDULE C, PART I-A, LINE 1 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. 161482 117415 44067 44067 CITY OF BIDDEFORD MICRO LOAN PAYABLE 251513 CAPITAL LEASE 9178 260691 X 748847 748847 5064 5064 753911 584411 584411 584411 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. KEITH JACQUES BOARD MEMBER 350000 BIDDEFORD SAVINGS false ANDY KANY BOARD MEMBER 350000 SACO & BIDDEFORD SAV false SCHEDULE L, PART V (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. 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.