SOUTHERN MAINE FINANCE AGENCY: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- SOUTHERN MAINE FINANCE AGENCY (EIN 01-0472964)
- Tax period
- 2016-07-01 to 2017-06-30
- Filed
- 2018-03-12
- IRS object ID
- 201810719349300406
- Schema version
- 2016v3.0
- 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 | 2018-03-12T09:32:40-05:00 | ReturnTs |
| Tax Period End | 2017-06-30 | 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 | 2016-07-01 | 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 | 2018-02-28 | 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 | 72.12.73.2 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2018-02-28 | IPDt |
| IP Tm | 13:08:11 | IPTm |
| IP Timezone | ES | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 6E3F036A119CB68175B343F1C471534FC1BF82AB | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | AF865BF50EFDC5B849D29FCFB71FD720CD82340B | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| 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 | $849,904 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | BSAEDC.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 FOR THE BIDDEFORD-SACO MAINE AREA. THE CORPORATION IS A CATALYST FOR COOPERATION, TEAMWORK, AND MUTUAL SUCCESS THROUGH THE: (1) CREATION AND RETENTION OF QUALITY JOBS FOR THE PEOPLE OF BIDDEFORD-SACO TARGETING THE LOW TO MODERATE INCOME POPULATION AND (2) DEVELOPMENT AND PROMOTION OF POLICIES, PROJECTS AND PROGRAMS THAT WILL ACCOMODATE AND CAPTURE NEW INVESTMENT IN BIDDEFORD-SACO. | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 3 | TotalEmployeeCnt |
| Total Volunteers | 22 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $969,683 | PYContributionsGrantsAmt |
| CY Contributions Grants | $487,453 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $466,207 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $361,597 | CYProgramServiceRevenueAmt |
| PY Investment Income | $204 | PYInvestmentIncomeAmt |
| CY Investment Income | $854 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $1,436,094 | PYTotalRevenueAmt |
| CY Total Revenue | $849,904 | 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 | $241,817 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $249,963 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $1,168 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $149,621 | PYOtherExpensesAmt |
| CY Other Expenses | $414,355 | CYOtherExpensesAmt |
| PY Total Expenses | $391,438 | PYTotalExpensesAmt |
| CY Total Expenses | $664,318 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,044,656 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $185,586 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $6,412,893 | TotalAssetsBOYAmt |
| Total Assets EOY | $6,769,398 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $2,188,131 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,359,050 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $4,224,762 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,410,348 | 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 | $521,013 | ExpenseAmt |
| Revenue | $361,597 | 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 | $521,013 | 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | 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 (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| DAN D'ENTREMONT | ||||||
| PRESIDENT | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| RICHARD HODGDON | ||||||
| VICE PRESIDENT | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LORRAINE BOSTON | ||||||
| TREASURER | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ROBERT QUENTIN | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| ALAN CASAVANT | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| MARYANNA ARSENAULT | ||||||
| SECRETARY | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| WILLIAM DOYLE | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| CHUCK BATES | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| JAMES F NIMON | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| DANIEL STEVENSON | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM MANN | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| ERIC GREEN | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| CHARLES GALLOWAY | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| PAUL SCHUMACHER | ||||||
| DIRECTOR | 0.50 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM O ARMITAGE II | ||||||
| EXECUTIVE DIRECTOR | 40.00 | Yes (X) | $97,059 | $0 | $17,352 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $97,059 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $17,352 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | 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 | $487,453 | GovernmentGrantsAmt |
| Total Contributions | $487,453 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| INTEREST INCOME | 900099 | $289,949 | $289,949 |
| LOAN FEE INCOME | 900099 | $71,648 | $71,648 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $361,597 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $854 | TotalRevenueColumnAmt |
| Exclusion | $854 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $849,904 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $361,597 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $854 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $116,837 | TotalAmt |
| Program Services | $47,904 | ProgramServicesAmt |
| Management And General | $67,765 | ManagementAndGeneralAmt |
| Fundraising | $1,168 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $105,433 | TotalAmt |
| Program Services | $80,922 | ProgramServicesAmt |
| Management And General | $24,511 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,818 | TotalAmt |
| Program Services | $1,395 | ProgramServicesAmt |
| Management And General | $423 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,270 | TotalAmt |
| Program Services | $7,883 | ProgramServicesAmt |
| Management And General | $2,387 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,605 | TotalAmt |
| Program Services | $11,977 | ProgramServicesAmt |
| Management And General | $3,628 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,728 | TotalAmt |
| Program Services | $2,328 | ProgramServicesAmt |
| Management And General | $1,400 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,950 | TotalAmt |
| Program Services | $6,836 | ProgramServicesAmt |
| Management And General | $4,114 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,093 | TotalAmt |
| Program Services | $5,053 | ProgramServicesAmt |
| Management And General | $3,040 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,450 | TotalAmt |
| Program Services | $2,154 | ProgramServicesAmt |
| Management And General | $1,296 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,390 | TotalAmt |
| Program Services | $3,989 | ProgramServicesAmt |
| Management And General | $2,401 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,499 | TotalAmt |
| Program Services | $15,919 | ProgramServicesAmt |
| Management And General | $9,580 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,267 | TotalAmt |
| Program Services | $4,537 | ProgramServicesAmt |
| Management And General | $2,730 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,206 | TotalAmt |
| Program Services | $34,206 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,081 | TotalAmt |
| Program Services | $4,421 | ProgramServicesAmt |
| Management And General | $2,660 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,486 | TotalAmt |
| Program Services | $5,298 | ProgramServicesAmt |
| Management And General | $3,188 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| BAD DEBTS | $240,469 | $240,469 | |
| ANNUAL PROGRAM FEE | $24,100 | $24,100 | |
| REPAIRS AND MAINTENANCE | $22,731 | $14,191 | $8,540 |
| MISCELLANEOUS | $9,488 | $5,923 | $3,565 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,417 | TotalAmt |
| Program Services | $1,508 | ProgramServicesAmt |
| Management And General | $909 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $664,318 | TotalAmt |
| Program Services | $521,013 | ProgramServicesAmt |
| Management And General | $142,137 | ManagementAndGeneralAmt |
| Fundraising | $1,168 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,695 | BOYAmt |
| EOY | $85,599 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $574,880 | BOYAmt |
| EOY | $1,208,620 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $250,000 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,678 | BOYAmt |
| EOY | $21,460 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,500,223 | BOYAmt |
| EOY | $5,369,876 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,726 | BOYAmt |
| EOY | $6,950 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $113,016 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $39,115 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,691 | BOYAmt |
| EOY | $73,901 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $2,992 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,412,893 | BOYAmt |
| EOY | $6,769,398 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,791 | BOYAmt |
| EOY | $43,965 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,806,001 | BOYAmt |
| EOY | $1,945,285 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $366,339 | BOYAmt |
| EOY | $369,800 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,188,131 | BOYAmt |
| EOY | $2,359,050 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $558,192 | BOYAmt |
| EOY | $588,480 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,666,570 | BOYAmt |
| EOY | $3,821,868 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,224,762 | BOYAmt |
| EOY | $4,410,348 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,412,893 | BOYAmt |
| EOY | $6,769,398 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $185,586 | 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 | $49,361 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $225,521 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $79,683 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $969,683 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $487,453 | CurrentTaxYearAmt |
| Total | $1,811,701 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $5,064 | CurrentTaxYearAmt |
| Total | $5,064 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $49,361 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $225,521 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $79,683 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $969,683 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $492,517 | CurrentTaxYearAmt |
| Total | $1,816,765 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $1,816,765 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $92 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $105 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $77 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $204 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $854 | CurrentTaxYearAmt |
| Total | $1,332 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $1,818,097 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $1,937,777 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.99930 | PublicSupportCY170Pct |
| Public Support PY170 | 0.99960 | 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 | $1,192 | DirectContactLegislatorsAmt |
| Rallies Demonstrations | 0 | RalliesDemonstrationsInd |
| Other Activities | 0 | OtherActivitiesInd |
| Total Lobbying Expenditures | $1,192 | 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 | $113,016 | OtherCostOrOtherBasisAmt |
| Depreciation | $39,115 | DepreciationAmt |
| Book Value | $73,901 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $73,901 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CITY OF BIDDEFORD MICRO LOAN PGM PAYABLE | $259,736 |
| CITY OF BIDDEFORD SMALL BUS. DEVELOP LOAN PGM PAYABLE | $110,064 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $369,800 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $849,904 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $849,904 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $849,904 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $664,318 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $664,318 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $664,318 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE EDC FOLLOWS THE PROVISIONS OF FASB ASC 740-10 ACCOUNTING FOR UNCERTAINTY OF INCOME TAXES, WHICH CLARIFIES THE CRITERIA THAT AN INDIVIDUAL TAX POSITION MUST SATISFY FOR SOME OR ALL OF THE BENEFITS OF THAT POSITION TO BE RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. IT ALSO PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY-THAN-NOT, AND A MEASUREMENT ATTRIBUTE FOR ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN, IN ORDER FOR THOSE TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. THERE WAS NO CUMULATIVE EFFECT ON THE EDC'S FINANCIAL STATEMENTS RELATED TO FOLLOWING THIS INTERPRETATION, AND NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS WERE ACCRUED. THE EDC IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES FOR THE YEARS ENDED JUNE 30, 2014 THROUGH 2017. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT QUENTIN | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | BOARD MEMBER IS AN OFFICER OF THE SACO & BIDDEFORD SAVINGS INSTITUTION. | RelationshipDescriptionTxt |
| Transaction | $250,000 | TransactionAmt |
| Transaction | SACO & BIDDEFORD SAVINGS INSTITUTION EQ2 LOAN MAKES UP 1/4 OF TOTAL EQ2 LOANS MADE TO THE ORGANIZATION IN THE YEAR, $250,000. ADDITIONALLY, THE BANK IS A 1/4 PARTICIPANT IN A $1,000,000 LINE OF CREDIT ISSUED BY THE BIDDEFORD SAVINGS BANK 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. |