SOUTHERN MAINE FINANCE AGENCY: Form 990, tax year 2018

View the entire original 990 at ProPublica ↗

Organization: SOUTHERN MAINE FINANCE AGENCY (EIN 01-0472964)
Tax period: 2018-07-01 to 2019-06-30
Filed: 2020-07-14
IRS object ID: 202011969349304806
Schema version: 2018v3.2
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
Form 990
Schedule A
Schedule B
Schedule C
Schedule D
Schedule L
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2020-07-14T16:27:03-05:00	ReturnTs
Tax Period End	2019-06-30	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 DRIVE	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	2018-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	010472964	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	BIDDEFORD-SACO AREA ECONOMIC DEVELOPMENT	BusinessNameLine1Txt
Business Name Line2	CORPORATION	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	BIDD	BusinessNameControlTxt
Phone	2072821748	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20 POMERLEAU STREET NO 300	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	EXECUTIVE DIRECTOR	PersonTitleTxt
Phone	2072821748	PhoneNum
Signature	2020-07-03	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	THOMAS EMERY	PreparerPersonNm
PTIN	P00532592	PTIN
Phone	2077732986	PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

Field	Value	IRS element (for citing)
I Pv4 Address	50.75.30.218	IPv4AddressTxt

Field	Value	IRS element (for citing)
IP	2020-07-03	IPDt
IP Tm	16:49:13	IPTm
IP Timezone	ED	IPTimezoneCd
Filing License Type	P	FilingLicenseTypeCd
At Submission Creation Device Id	2E0AF2B6A96E3515D6D7C82DD9D7FA944CB31BBF	AtSubmissionCreationDeviceId
At Submission Filing Device Id	C04D53449D88B9CA1009FA6FCCCFDED8547CE51D	AtSubmissionFilingDeviceId

Field	Value	IRS element (for citing)
Tax	2018	TaxYr
Build TS	2021-01-29 14:40:06Z	BuildTS

Form 990 IRS990

Doing Business As Name DoingBusinessAsName

Field	Value	IRS element (for citing)
Business Name Line1	SOUTHERN MAINE FINANCE AGENCY	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Principal Officer	WILLIAM O ARMITAGE II	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20 POMERLEAU STREET NO 300	AddressLine1Txt
City	BIDDEFORD	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	04005	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$924,416	GrossReceiptsAmt
Group Return For Affiliates	0	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	12	VotingMembersGoverningBodyCnt
Voting Members Independent	12	VotingMembersIndependentCnt
Total Employee	3	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$445,642	PYContributionsGrantsAmt
CY Contributions Grants	$362,183	CYContributionsGrantsAmt
PY Program Service Revenue	$540,773	PYProgramServiceRevenueAmt
CY Program Service Revenue	$558,176	CYProgramServiceRevenueAmt
PY Investment Income	$1,462	PYInvestmentIncomeAmt
CY Investment Income	$4,057	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$987,877	PYTotalRevenueAmt
CY Total Revenue	$924,416	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$0	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$259,848	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$274,068	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$2,557	CYTotalFundraisingExpenseAmt
PY Other Expenses	$266,780	PYOtherExpensesAmt
CY Other Expenses	$740,226	CYOtherExpensesAmt
PY Total Expenses	$526,628	PYTotalExpensesAmt
CY Total Expenses	$1,014,294	CYTotalExpensesAmt
PY Revenues Less Expenses	$461,249	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$89,878	CYRevenuesLessExpensesAmt
Total Assets BOY	$7,101,713	TotalAssetsBOYAmt
Total Assets EOY	$7,991,541	TotalAssetsEOYAmt
Total Liabilities BOY	$2,230,116	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$3,209,822	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$4,871,597	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$4,781,719	NetAssetsOrFundBalancesEOYAmt
Mission	TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$864,128	ExpenseAmt
Revenue	$558,176	RevenueAmt
Desc	THE CORPORATION SERVICED LOANS MADE IN PRIOR YEARS AND MADE NEW LOANS TO COMPANIES LOCATED IN, AND THAT PROVIDE JOBS WITHIN, YORK COUNTY, MAINE.	Desc
Total Program Service Expenses	$864,128	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	Yes (1)	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Temp Or Permanent Endowments	0	TempOrPermanentEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	0	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With Officer Ent	Yes (1)	BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	0	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	3	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	0	QuidProQuoContributionsInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	0	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	0	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	12	GoverningBodyVotingMembersCnt
Independent Voting Member	12	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	Yes (1)	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	0	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
States Where Copy Of Return Is Fld	ME	StatesWhereCopyOfReturnIsFldCd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	WILLIAM O ARMITAGE II	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	2072821748	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	20 POMERLEAU STREET SUITE 300	AddressLine1Txt
City	BIDDEFORD	CityNm
State Abbreviation	ME	StateAbbreviationCd
ZIP	04005	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
RICHARD HODGDON
PRESIDENT	0.50	Yes (X)	Yes (X)	$0	$0	$0
LORRAINE BOSTON
VICE-PRESIDENT	1.00	Yes (X)	Yes (X)	$0	$0	$0
ALAN CASAVANT
DIRECTOR	0.50	Yes (X)		$0	$0	$0
MATHEW EDDY
DIRECTOR	0.50	Yes (X)		$0	$0	$0
MARYANNA ARSENAULT
SECRETARY	0.50	Yes (X)	Yes (X)	$0	$0	$0
PAUL SCHUMACHER
DIRECTOR	0.50	Yes (X)		$0	$0	$0
ALAN MINTHORN
DIRECTOR	0.50	Yes (X)		$0	$0	$0
DENISE M CLAVETTE
DIRECTOR	0.50	Yes (X)		$0	$0	$0
CHUCK BATES
DIRECTOR	0.50	Yes (X)		$0	$0	$0
KEITH JACQUES
DIRECTOR	1.00	Yes (X)		$0	$0	$0
JAMES NIMON
DIRECTOR	0.50	Yes (X)		$0	$0	$0
GARY SAMIA
DIRECTOR	0.50	Yes (X)		$0	$0	$0
ERIC GREEN
TREASURER	0.50	Yes (X)	Yes (X)	$0	$0	$0
WILLIAM O ARMITAGE II
EXECUTIVE DIRECTOR	40.00		Yes (X)	$105,455	$0	$21,422

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$105,455	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$21,422	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	1	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	0	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K	0	CntrctRcvdGreaterThan100KCnt
Government Grants	$362,183	GovernmentGrantsAmt
Total Contributions	$362,183	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (2 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
INTEREST INCOME	900099	$476,279	$476,279
LOAN FEE INCOME	900099	$81,897	$81,897

Field	Value	IRS element (for citing)
Total Program Service Revenue	$558,176	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,057	TotalRevenueColumnAmt
Exclusion	$4,057	ExclusionAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$924,416	TotalRevenueColumnAmt
Related Or Exempt Func Income	$558,176	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$4,057	ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$127,852	TotalAmt
Program Services	$51,140	ProgramServicesAmt
Management And General	$74,155	ManagementAndGeneralAmt
Fundraising	$2,557	FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$108,129	TotalAmt
Program Services	$84,247	ProgramServicesAmt
Management And General	$23,882	ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$1,881	TotalAmt
Program Services	$1,655	ProgramServicesAmt
Management And General	$226	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$12,410	TotalAmt
Program Services	$10,591	ProgramServicesAmt
Management And General	$1,819	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$23,796	TotalAmt
Program Services	$18,756	ProgramServicesAmt
Management And General	$5,040	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$12,375	TotalAmt
Program Services	$8,601	ProgramServicesAmt
Management And General	$3,774	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$30,687	TotalAmt
Program Services	$21,330	ProgramServicesAmt
Management And General	$9,357	ManagementAndGeneralAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$3,781	TotalAmt
Program Services	$2,628	ProgramServicesAmt
Management And General	$1,153	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$11,756	TotalAmt
Program Services	$8,170	ProgramServicesAmt
Management And General	$3,586	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$2,863	TotalAmt
Program Services	$1,990	ProgramServicesAmt
Management And General	$873	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$6,316	TotalAmt
Program Services	$4,390	ProgramServicesAmt
Management And General	$1,926	ManagementAndGeneralAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$66,108	TotalAmt
Program Services	$66,108	ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$18,411	TotalAmt
Program Services	$12,797	ProgramServicesAmt
Management And General	$5,614	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$12,426	TotalAmt
Program Services	$8,637	ProgramServicesAmt
Management And General	$3,789	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt
BAD DEBTS	$506,218	$506,218
ANNUAL PROGRAM FEE	$28,565	$28,565
MISCELLANEOUS	$19,716	$13,705	$6,011
REPAIRS AND MAINTENANCE	$17,576	$12,217	$5,359

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$3,428	TotalAmt
Program Services	$2,383	ProgramServicesAmt
Management And General	$1,045	ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$1,014,294	TotalAmt
Program Services	$864,128	ProgramServicesAmt
Management And General	$147,609	ManagementAndGeneralAmt
Fundraising	$2,557	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$71,031	BOYAmt
EOY	$226,293	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$885,801	BOYAmt
EOY	$1,690,082	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$10,130	BOYAmt
EOY	$15,091	EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$6,052,921	BOYAmt
EOY	$5,966,372	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$3,121	BOYAmt
EOY	$2,774	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$149,228	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$58,299	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$78,709	BOYAmt
EOY	$90,929	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$7,101,713	BOYAmt
EOY	$7,991,541	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$89,877	BOYAmt
EOY	$40,018	EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

Field	Value	IRS element (for citing)
BOY	$1,875,923	BOYAmt
EOY	$2,907,286	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$264,316	BOYAmt
EOY	$262,518	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$2,230,116	BOYAmt
EOY	$3,209,822	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows SFAS117	Yes (X)	OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$640,732	BOYAmt
EOY	$644,503	EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$4,230,865	BOYAmt
EOY	$4,137,216	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$4,871,597	BOYAmt
EOY	$4,781,719	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$7,101,713	BOYAmt
EOY	$7,991,541	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	-$89,878	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Info In Schedule O Part XII	Yes (X)	InfoInScheduleOPartXIIInd
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	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 (1)	AuditCommitteeInd
Federal Grant Audit Required	Yes (1)	FederalGrantAuditRequiredInd
Federal Grant Audit Performed	Yes (1)	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	$79,683	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$969,683	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$487,453	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$445,642	CurrentTaxYearMinus1YearAmt
Current Tax Year	$362,183	CurrentTaxYearAmt
Total	$2,344,644	TotalAmt

Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	$5,064	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$5,064	CurrentTaxYearMinus1YearAmt
Current Tax Year	$5,064	CurrentTaxYearAmt
Total	$15,192	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$79,683	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$969,683	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$492,517	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$450,706	CurrentTaxYearMinus1YearAmt
Current Tax Year	$367,247	CurrentTaxYearAmt
Total	$2,359,836	TotalAmt

Field	Value	IRS element (for citing)
Public Support Total170	$2,359,836	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$77	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$204	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$854	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$1,462	CurrentTaxYearMinus1YearAmt
Current Tax Year	$4,057	CurrentTaxYearAmt
Total	$6,654	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$2,366,490	TotalSupportAmt
Gross Receipts Rltd Activities	$2,324,924	GrossReceiptsRltdActivitiesAmt
Public Support CY170	0.99720	PublicSupportCY170Pct
Public Support PY170	0.99880	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	0	VolunteersInd
Paid Staff Or Management	Yes (1)	PaidStaffOrManagementInd
Media Advertisements	0	MediaAdvertisementsInd
Mailings Members	0	MailingsMembersInd
Publications Or Broadcast	0	PublicationsOrBroadcastInd
Grants Other Organizations	0	GrantsOtherOrganizationsInd
Direct Contact Legislators	Yes (1)	DirectContactLegislatorsInd
Direct Contact Legislators	$2,459	DirectContactLegislatorsAmt
Rallies Demonstrations	0	RalliesDemonstrationsInd
Other Activities	0	OtherActivitiesInd
Total Lobbying Expenditures	$2,459	TotalLobbyingExpendituresAmt
Not Described Section501c3	0	NotDescribedSection501c3Ind

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART II-B, LINE 1:	FormAndLineReferenceDesc
Explanation	THE EXECUTIVE DIRECTOR 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

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$149,228	OtherCostOrOtherBasisAmt
Depreciation	$58,299	DepreciationAmt
Book Value	$90,929	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$90,929	TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDesc	AmtAmt
CITY OF BIDDEFORD MICRO LOAN PGM PAYABLE	$245,214
CAPITAL LEASE	$17,304

Field	Value	IRS element (for citing)
Total Liability	$262,518	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$924,416	TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported	$0	RevenueNotReportedAmt
Revenue Subtotal	$924,416	RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt	$0	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$924,416	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$1,014,294	TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported	$0	ExpensesNotReportedAmt
Expenses Subtotal	$1,014,294	ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt	$0	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$1,014,294	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART X, LINE 2:	FormAndLineReferenceDesc
Explanation	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. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT TO EVALUATE TAX POSTIONS 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.	ExplanationTxt

Schedule L IRS990ScheduleL

Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp

Name Of Interested NameOfInterested

Field	Value	IRS element (for citing)
Person	KEITH JACQUES	PersonNm

Field	Value	IRS element (for citing)
Relationship Description	BOARD MEMBER IS ON THE BOARD OF DIRECTORS OF THE BIDDEFORD SAVINGS BANK.	RelationshipDescriptionTxt
Transaction	$350,000	TransactionAmt
Transaction	BIDDEFORD SAVINGS BANK EQ2 LOANS MAKES UP 1/4 OF 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.	TransactionDesc
Sharing Of Revenues	0	SharingOfRevenuesInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION A, 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 CORPORATION AND THE SOUTHERN MAINE PLANNING AND DEVELOPMENT COMMISSION EACH HAVE ONE SEAT ON THE BOARD.
FORM 990, PART VI, SECTION B, LINE 11B	A COPY OF THIS FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR FOR REVIEW PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	THIS POLICY IS REVIEWED AND SIGNED BY THE BOARD OF DIRECTORS AT EACH ANNUAL MEETING.
FORM 990, PART VI, SECTION B, LINE 15A	THE EXECUTIVE COMMITTEE MEETS ANNUALLY TO REVIEW THE EXECUTIVE DIRECTOR'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, PART VI, SECTION C, 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 XII, LINE 2C:	THE EXECUTIVE COMMITTEE ACTS AS THE AUDIT COMMITTEE. THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITORS DID NOT CHANGE DURING THE YEAR.