SOUTHERN MAINE FINANCE AGENCY: Form 990, tax year 2009

View the entire original 990 at ProPublica ↗

Organization: SOUTHERN MAINE FINANCE AGENCY (EIN 01-0472964)
Tax period: 2009-07-01 to 2010-06-30
Filed: 2011-02-15
IRS object ID: 201130469349300948
Schema version: 2009v1.4
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)
Timestamp	2011-02-15T13:26:36-06:00	Timestamp
Tax Period End Date	2010-06-30	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	Runyon Kersteen Ouellette	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	20 Long Creek Drive	AddressLine1
City	South Portland	City
State	ME	State
ZIP Code	04106	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2009-07-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	010472964	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	BIDDEFORD-SACO AREA ECONOMIC DEVELOPMENT	BusinessNameLine1
Business Name Line2	CORPORATION	BusinessNameLine2

Field	Value	IRS element (for citing)
Name Control	BIDD	NameControl
Phone	2072821748	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	190 MAIN STREET PO BOX 536	AddressLine1
City	SACO	City
State	ME	State
ZIP Code	04072	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	William O Armitage II	Name
Title	Executive Director	Title
Phone	2072821748	Phone
Date Signed	2011-02-15	DateSigned
Authorize Third Party	1	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	Thomas Emery	Name
Phone	2077732986	Phone

Field	Value	IRS element (for citing)
Tax Year	2009	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	William O Armitage II	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	190 MAIN STREET PO BOX 536	AddressLine1
City	SACO	City
State	ME	State
ZIP Code	04072	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	558772	GrossReceipts
Group Return For Affiliates	0	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	bsaedc.org	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1992	YearFormation
State Legal Domicile	ME	StateLegalDomicile
Activity Or Mission Description	To promote sustainable, long-term 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.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	11	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	11	NbrIndependentVotingMembers
Total Nbr Employees	3	TotalNbrEmployees
Total Nbr Volunteers	16	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Net Unrelated Business Txbl Income	0	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	28004	ContributionsGrantsPriorYear
Contributions Grants Current Year	263997	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	248153	ProgramServiceRevenuePriorYear
Program Service Revenue CY	294775	ProgramServiceRevenueCY
Investment Income Prior Year	2923	InvestmentIncomePriorYear
Investment Income Current Year	0	InvestmentIncomeCurrentYear
Other Revenue Current Year	0	OtherRevenueCurrentYear
Total Revenue Prior Year	279080	TotalRevenuePriorYear
Total Revenue Current Year	558772	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	186155	SalariesEtcPriorYear
Salaries Etc Current Year	196208	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	892	TotalFundrsngExpCurrentYear
Other Expense Prior Year	265753	OtherExpensePriorYear
Other Expenses Current Year	125484	OtherExpensesCurrentYear
Total Expenses Prior Year	451908	TotalExpensesPriorYear
Total Expenses Current Year	321692	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-172828	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	237080	RevenuesLessExpensesCY
Total Assets BOY	3333578	TotalAssetsBOY
Total Assets EOY	4399608	TotalAssetsEOY
Total Liabilities BOY	498038	TotalLiabilitiesBOY
Total Liabilities EOY	1326988	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	2835540	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	3072620	NetAssetsOrFundBalancesEOY
Mission Description	To promote sustainable, long-term economic prosperity for the Biddeford-Saco Maine area.	MissionDescription
Significant New Program Services	0	SignificantNewProgramServices
Significant Change	0	SignificantChange
Expense	150748	Expense
Revenue	294775	Revenue
Description	The Corporation serviced loans made in prior years and made new loans to Companies that provide jobs within the communities of Biddeford and Saco Maine.	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Expense	19291	Expense
Description	Biddeford-Saco Buy Local Program - A collaborative effort working to showcase the businesses of the two communities and encourage a shift in the local buying habits to boost the local economy.	Description

Field	Value	IRS element (for citing)
Total Program Service Expense	170039	TotalProgramServiceExpense
Described In501 C3	1	DescribedIn501C3
Schedule B Required	1	ScheduleBRequired
Political Activities	0	PoliticalActivities
Lobbying Activities	1	LobbyingActivities
Donor Advised Funds	0	DonorAdvisedFunds
Conservation Easements	0	ConservationEasements
Collections Of Art	0	CollectionsOfArt
Credit Counseling	0	CreditCounseling
Term Or Permanent Endowments	0	TermOrPermanentEndowments
Balance Sheet Amounts Reported	1	BalanceSheetAmountsReported
Independent Audit Financial Stmt	1	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	0	ConsolidatedAuditFinancialStmt
School	0	School
Foreign Office	0	ForeignOffice
Foreign Activities	0	ForeignActivities
More Than5000 K To Organizations	0	MoreThan5000KToOrganizations
More Than5000 K To Individuals	0	MoreThan5000KToIndividuals
Professional Fundraising	0	ProfessionalFundraising
Fundraising Activities	0	FundraisingActivities
Gaming	0	Gaming
Hospital	0	Hospital
Grants To Organizations	0	GrantsToOrganizations
Grants To Individuals	0	GrantsToIndividuals
Schedule J Required	0	ScheduleJRequired
Tax Exempt Bonds	0	TaxExemptBonds
Excess Benefit Transaction	0	ExcessBenefitTransaction
Prior Excess Benefit Transaction	0	PriorExcessBenefitTransaction
Loan To Officer Or DQP	0	LoanToOfficerOrDQP
Grant To Related Person	0	GrantToRelatedPerson
Bsnss Rltnshp With Organization	0	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	0	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	1	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	0	DeductibleNonCashContributions
Deductible Contributions Of Art	0	DeductibleContributionsOfArt
Terminated	0	Terminated
Partial Liquidation	0	PartialLiquidation
Disregarded Entity	0	DisregardedEntity
Related Entity	0	RelatedEntity
Related Org Controlled Entity	0	RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org	0	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	0	ActivitiesConductedPartnership
Schedule O Required	1	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	1	ComplianceWithBackupWitholding
Number Of Employees	3	NumberOfEmployees
Employment Tax Returns Filed	1	EmploymentTaxReturnsFiled
Unrelated Business Income	0	UnrelatedBusinessIncome
Foreign Financial Account	0	ForeignFinancialAccount
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTrans
Taxable Party Notification	0	TaxablePartyNotification
Non Deductible Contributions	0	NonDeductibleContributions
Quid Pro Quo Contributions	0	QuidProQuoContributions
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOf
Funds To Pay Premiums	0	FundsToPayPremiums
Premiums Paid	0	PremiumsPaid
Nbr Voting Governing Body Members	11	NbrVotingGoverningBodyMembers
Number Independent Voting Members	11	NumberIndependentVotingMembers
Family Or Business Relationship	0	FamilyOrBusinessRelationship
Delegation Of Management Duties	0	DelegationOfManagementDuties
Changes To Organizing Docs	0	ChangesToOrganizingDocs
Material Diversion Or Misuse	0	MaterialDiversionOrMisuse
Members Or Stockholders	0	MembersOrStockholders
Election Of Board Members	1	ElectionOfBoardMembers
Decisions Subject To Approval	0	DecisionsSubjectToApproval
Minutes Of Governing Body	1	MinutesOfGoverningBody
Minutes Of Committees	1	MinutesOfCommittees
Officer Mailing Address	0	OfficerMailingAddress
Local Chapters	0	LocalChapters
Form990 Provided To Governing Body	1	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	1	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	1	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	1	RegularMonitoringEnforcement
Whistleblower Policy	1	WhistleblowerPolicy
Document Retention Policy	1	DocumentRetentionPolicy
Compensation Process CEO	1	CompensationProcessCEO
Compensation Process Other	0	CompensationProcessOther
Investment In Joint Venture	0	InvestmentInJointVenture
States Where Copy Of Return Is Filed	ME	StatesWhereCopyOfReturnIsFiled
Other Website	X	OtherWebsite
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	WILLIAM O ARMITAGE II	BusinessNameLine1

Field	Value	IRS element (for citing)
Telephone Number	2072821748	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	190 Main Street 3rd Floor/ po Box	AddressLine1
City	Saco	City
State	ME	State
ZIP Code	04072	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (12 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation
Robert Quentin
President	1.00	X	X	0	0	0
Maryanna Arsenault
Vice-President	0.50	X	X	0	0	0
Peter Morelli
Secretary	0.50	X	X	0	0	0
Dan D'Entremont
Treasurer	1.00	X	X	0	0	0
Kim Dennis
DIRECTOR	0.50	X		0	0	0
Peg Levasseur
DIRECTOR	0.50	X		0	0	0
Daniel Stevenson
DIRECTOR	0.50	X		0	0	0
Mike Knowles
DIRECTOR	0.50	X		0	0	0
Jeff Christenbury
DIRECTOR	0.50	X		0	0	0
Don Ballute
DIRECTOR	0.50	X		0	0	0
Joanne Twomey
DIRECTOR	0.50	X		0	0	0
WILLIAM O ARMITAGE II
Executive Director	40.00		X	79062	0	10433

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	79062	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	0	TotalReportableCompFrmRltdOrgs
Total Other Compensation	10433	TotalOtherCompensation
Number Individuals GT100 K	0	NumberIndividualsGT100K
Formers Listed	0	FormersListed
Total Comp GT150 K	0	TotalCompGT150K
Compensation From Other Sources	0	CompensationFromOtherSources
Number Of Contractors GT100 K	0	NumberOfContractorsGT100K
Government Grants	220204	GovernmentGrants
All Other Contributions	43793	AllOtherContributions
Total Contributions	263997	TotalContributions

Program Service Revenue ProgramServiceRevenue (2 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome
Interest Income	900099	259854	259854
Loan fee income	900099	34921	34921

Field	Value	IRS element (for citing)
Total Program Service Revenue	294775	TotalProgramServiceRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	558772	TotalRevenueColumn
Related Or Exempt Function Income	294775	RelatedOrExemptFunctionIncome
Unrelated Business Revenue	0	UnrelatedBusinessRevenue
Exclusion	$0	ExclusionAmount

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	89124	Total
Program Services	17824	ProgramServices
Management And General	70408	ManagementAndGeneral
Fundraising	892	Fundraising

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	82150	Total
Program Services	48705	ProgramServices
Management And General	33445	ManagementAndGeneral

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	2354	Total
Program Services	1395	ProgramServices
Management And General	959	ManagementAndGeneral

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	10276	Total
Program Services	6092	ProgramServices
Management And General	4184	ManagementAndGeneral

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	12304	Total
Program Services	7295	ProgramServices
Management And General	5009	ManagementAndGeneral

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	4028	Total
Program Services	2388	ProgramServices
Management And General	1640	ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	8000	Total
Program Services	4743	ProgramServices
Management And General	3257	ManagementAndGeneral

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	10196	Total
Program Services	6045	ProgramServices
Management And General	4151	ManagementAndGeneral

Advertising Advertising

Field	Value	IRS element (for citing)
Total	11024	Total
Program Services	6536	ProgramServices
Management And General	4488	ManagementAndGeneral

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	12646	Total
Program Services	7497	ProgramServices
Management And General	5149	ManagementAndGeneral

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	22811	Total
Program Services	13524	ProgramServices
Management And General	9287	ManagementAndGeneral

Travel Travel

Field	Value	IRS element (for citing)
Total	7886	Total
Program Services	4675	ProgramServices
Management And General	3211	ManagementAndGeneral

Interest Interest

Field	Value	IRS element (for citing)
Total	13418	Total
Program Services	13418	ProgramServices

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	4421	Total
Program Services	2621	ProgramServices
Management And General	1800	ManagementAndGeneral

Insurance Insurance

Field	Value	IRS element (for citing)
Total	5351	Total
Program Services	3173	ProgramServices
Management And General	2178	ManagementAndGeneral

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices	Management And GeneralManagementAndGeneral
ANNUAL PROGRAM FEE	21783	21783
Repairs and maintenance	2435	1444	991
DUES & MEMBERSHIPS	625	371	254
SUBSCRIPTIONS & PUBLICA	372	221	151
MISCELLANEOUS	349	207	142

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	139	Total
Program Services	82	ProgramServices
Management And General	57	ManagementAndGeneral

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	321692	Total
Program Services	170039	ProgramServices
Management And General	150761	ManagementAndGeneral
Fundraising	892	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	498042	BOY
EOY	481435	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	14998	BOY
EOY	11368	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	2350	BOY
EOY	3042	EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

Field	Value	IRS element (for citing)
BOY	2807033	BOY
EOY	3895191	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	4061	BOY
EOY	5899	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	59770	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	57097	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	7094	BOY
EOY	2673	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	3333578	BOY
EOY	4399608	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	8714	BOY
EOY	11047	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	249337	BOY
EOY	1070418	EOY

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
BOY	239987	BOY
EOY	245523	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	498038	BOY
EOY	1326988	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	506697	BOY
EOY	453090	EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	2328843	BOY
EOY	2619530	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	2835540	BOY
EOY	3072620	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	3333578	BOY
EOY	4399608	EOY

Field	Value	IRS element (for citing)
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	0	AccountantCompileOrReview
FS Audited	1	FSAudited
Audit Committee	1	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	0	FederalGrantAuditRequired

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Publicly Supported Org170b1 Avi	X	PubliclySupportedOrg170b1Avi

Gifts Grants Contrib Received170 GiftsGrantsContribReceived170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	24125	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	24987	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	173072	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	28004	CurrentTaxYearMinus1Year
Current Tax Year	263997	CurrentTaxYear
Total	514185	Total

Total170 Total170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	24125	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	24987	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	173072	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	28004	CurrentTaxYearMinus1Year
Current Tax Year	263997	CurrentTaxYear
Total	514185	Total

Field	Value	IRS element (for citing)
Public Support Total170	514185	PublicSupportTotal170

Gross Investment Income170 GrossInvestmentIncome170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	28641	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	31455	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	24671	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	2923	CurrentTaxYearMinus1Year
Total	87690	Total

Field	Value	IRS element (for citing)
Total Support	601875	TotalSupport
Gross Receipts From Admissions Etc	1238285	GrossReceiptsFromAdmissionsEtc
Public Support Pertcentage170	0.85430	PublicSupportPertcentage170
Public Support Pertcent Prior Year	0.73410	PublicSupportPertcentPriorYear
Thirty Three Percnt Tests CY170	X	ThirtyThreePercntTestsCY170

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

Field	Value	IRS element (for citing)
Contributor Number	RESTRICTED	ContributorNumber

Contributor Name Business ContributorNameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor Address US ContributorAddressUS

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)
Aggregate Contributions	RESTRICTED	AggregateContributions

Schedule C IRS990ScheduleC

Field	Value	IRS element (for citing)
Volunteers	0	Volunteers
Paid Staff Or Management	1	PaidStaffOrManagement
Media Advertisements	0	MediaAdvertisements
Mailings Members	0	MailingsMembers
Publications Or Broadcast	0	PublicationsOrBroadcast
Grants Other Organizations	0	GrantsOtherOrganizations
Direct Contact Legislators	1	DirectContactLegislators
Direct Contact Legislators	$899	DirectContactLegislatorsAmount
Rallies Demonstrations	0	RalliesDemonstrations
Other Activities	0	OtherActivities
Total Lobbying Expenditures IIB	899	TotalLobbyingExpendituresIIB
Not Described In501c3	0	NotDescribedIn501c3

Schedule D IRS990ScheduleD

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	59770	OtherCostOrOtherBasis
Depreciation	57097	Depreciation
Book Value	2673	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	2673	TotalOfBookValueLandBuildings

Other Liabilities OtherLiabilities

Field	Value	IRS element (for citing)
Description	CITY OF BIDDEFORD micro loan PROGRAM payable	Description
Amount	$245,523	Amount

Field	Value	IRS element (for citing)
Total Of Amounts	245523	TotalOfAmounts
Total Revenue	558772	TotalRevenue
Total Expenses	321692	TotalExpenses
Excess Or Deficit For Year	237080	ExcessOrDeficitForYear
Total Adjustments	0	TotalAdjustments
Excess Or Deficit Per FS	237080	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	558772	TotRevenueEtcAuditedFinclStmt
Revenue Not Rptd F990	0	RevenueNotRptdF990
Revenue Subtotal	558772	RevenueSubtotal
Revenue Not Rptd On Fin Stmt	0	RevenueNotRptdOnFinStmt
Total Revenue Per Form990	558772	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	321692	TotExpensesEtcAuditedFinclStmt
Expenses Not Rptd F990	0	ExpensesNotRptdF990
Expenses Subtotal	321692	ExpensesSubtotal
Expenses Not Rptd On Fin Stmt	0	ExpensesNotRptdOnFinStmt
Total Expenses Per Form990	321692	TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV

Field	Value	IRS element (for citing)
Identifier	Part X:	Identifier
Return Reference	Description of Uncertain Tax Positions Under FIN 48:	ReturnReference
Explanation	Effective July 1, 2009, the Organization adopted the provisions of Accounting for Uncertainty in Income Taxes as provided for in the Income Taxes topic of the FASB Accounting Standards Codification. This statement 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 Corporation's financial statements related to adoption of this interpretation, and no interest or penalties related to uncertain tax positions were accrued. The Corporation 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, 2007 through 2010.	Explanation

Schedule L IRS990ScheduleL

Form990 Schedule L Part IV Form990ScheduleLPartIV (2 entries)

RelationshipRelationship	Amount Of TransactionAmountOfTransaction	Description Of TransactionDescriptionOfTransaction	Sharing Of RevenuesSharingOfRevenues
Robert Quentin
Board President is an officer of the Saco & Biddeford Savings Bank.	278500	Saco & Biddeford Savings Institution is a 1/3 participant in a $1,500,000 line of credit issued by the Biddeford Savings Bank with an outstanding balance of $835,500. The line issecured by loans receivable in the FAME Program Portfolio.	0
(no name)
			0

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (6 entries)

IdentifierIdentifier	ExplanationExplanation
Form 990, Part VI, Section A, line 7a	The Cities of Biddeford, ME and Saco, ME each have two seats on the Board and the area Chamber of Commerce has one seat.
Form 990, Part VI, Section B, line 11	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	These documents are available upon request.
Form 990, Part XI, Line 2(c), Oversight of Audit & Independent Auditors:	The executive committee acts as the audit committee. The process for oversight of the audit and selection of the independent auditors did not change during the year.