Civic Intelligence

Southern Maine Finance Agency

990 • Fiscal year 2019 • EIN 01-0472964

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 03, 2020

Organization ProfileSMFAMAINE.ORG
20 Pomerleau Street No 300Biddeford, ME 04005

(207) 282-1748

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.40x

Higher debt load relative to assets than 71% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

3.47x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

19th percentile

-9.7%

Higher net margin than 19% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

52nd percentile

$126,877

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 13.7% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

73rd percentile

13%

Faster asset growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

25th percentile

-6.4%

Faster revenue growth than 25% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets71st percentile

Assets

Up

$7,991,541

Up $889,828 (+13%) from 2018

Net Assets

Down

$4,781,719

Down $89,878 (-1.8%) from 2018

Liabilities

Up

$3,209,822

Up $979,706 (+44%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin19th percentile

Revenue

Down

$924,416

Down $63,461 (-6.4%) from 2018

Expenses

Up

$1,014,294

Up $487,666 (+93%) from 2018

Net Income

Down

-$89,878

Down $551,127 (-119%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $4,399,608Liabilities 2010: $1,326,988Net Assets 2010: $3,072,6202010Assets 2011: $4,053,538Liabilities 2011: $1,087,288Net Assets 2011: $2,966,2502011Assets 2012: $4,505,415Liabilities 2012: $1,639,095Net Assets 2012: $2,866,3202012Assets 2013: $4,569,976Liabilities 2013: $1,665,812Net Assets 2013: $2,904,1642013Assets 2014: $4,790,274Liabilities 2014: $1,698,319Net Assets 2014: $3,091,9552014Assets 2015: $5,380,503Liabilities 2015: $2,200,397Net Assets 2015: $3,180,1062015Assets 2016: $6,412,893Liabilities 2016: $2,188,131Net Assets 2016: $4,224,7622016Assets 2017: $6,769,398Liabilities 2017: $2,359,050Net Assets 2017: $4,410,3482017Assets 2018: $7,101,713Liabilities 2018: $2,230,116Net Assets 2018: $4,871,5972018Assets 2019: $7,991,541Liabilities 2019: $3,209,822Net Assets 2019: $4,781,7192019Assets 2020: $7,936,623Liabilities 2020: $3,002,725Net Assets 2020: $4,933,8982020Assets 2021: $7,914,539Liabilities 2021: $2,855,153Net Assets 2021: $5,059,3862021Assets 2022: $7,727,125Liabilities 2022: $2,632,864Net Assets 2022: $5,094,2612022Assets 2023: $7,492,339Liabilities 2023: $2,441,949Net Assets 2023: $5,050,3902023Assets 2024: $7,874,799Liabilities 2024: $2,185,041Net Assets 2024: $5,689,7582024

Highlighted filing

2019

Assets$7,991,541
Liabilities$3,209,822
Net Assets$4,781,719
Open 2019 Filing

Operations Trend

Revenue Growth25th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $321,6922010Revenue 2011: $290,084Expenses 2011: $396,454Net Income 2011: -$106,3702011Expenses 2012: $440,0062012Revenue 2013: $408,515Expenses 2013: $370,671Net Income 2013: $37,8442013Revenue 2014: $577,392Expenses 2014: $389,601Net Income 2014: $187,7912014Revenue 2015: $477,931Expenses 2015: $389,780Net Income 2015: $88,1512015Revenue 2016: $1,436,094Expenses 2016: $391,438Net Income 2016: $1,044,6562016Revenue 2017: $849,904Expenses 2017: $664,318Net Income 2017: $185,5862017Revenue 2018: $987,877Expenses 2018: $526,628Net Income 2018: $461,2492018Revenue 2019: $924,416Expenses 2019: $1,014,294Net Income 2019: -$89,8782019Revenue 2020: $828,928Expenses 2020: $676,749Net Income 2020: $152,1792020Revenue 2021: $753,911Expenses 2021: $584,411Net Income 2021: $169,5002021Revenue 2022: $658,421Expenses 2022: $618,482Net Income 2022: $39,9392022Revenue 2023: $719,081Expenses 2023: $757,888Net Income 2023: -$38,8072023Revenue 2024: $1,401,365Expenses 2024: $761,997Net Income 2024: $639,3682024

Highlighted filing

2019

Revenue$924,416
Expenses$1,014,294
Net Income-$89,878
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 3, 2020
Return Version
2018v3.2
Gross Receipts
$924,416
Mission and Program Overview

Mission

To promote sustainable, long-term economic prosperity for the biddeford-saco maine area.

To promote sustainable economic prosperity through regional business lending, targeting underserved markets.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$6,052,921$5,966,372▼ $86,549
Savings and Temporary Cash Investments$885,801$1,690,082▲ $804,281
Cash and Non-Interest-Bearing Accounts$71,031$226,293▲ $155,262
Land, Buildings, and Equipment, Net$78,709$90,929▲ $12,220
Accounts Receivable$10,130$15,091▲ $4,961
Prepaid Expenses and Deferred Charges$3,121$2,774▼ $347
Total Assets$7,101,713$7,991,541▲ $889,828
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,875,923$2,907,286▲ $1,031,363
Other Liabilities$264,316$262,518▼ $1,798
Accounts Payable and Accrued Expenses$89,877$40,018▼ $49,859
Total Liabilities$2,230,116$3,209,822▲ $979,706
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,230,865$4,137,216▼ $93,649
Unrestricted Net Assets$640,732$644,503▲ $3,771
Total Net Assets Fund Balance$4,871,597$4,781,719▼ $89,878
Total Liabilities and Net Assets / Fund Balance$7,101,713$7,991,541▲ $889,828

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$90,929$58,299$149,228
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William O Armitage IiExecutive DirectorFT$105,455$21,422$126,877

Board Members and Trustees

NameTitle
Richard HodgdonPresident
Lorraine BostonVice-president
Alan CasavantDirector
Alan MinthornDirector
Chuck BatesDirector
Denise M ClavetteDirector
Gary SamiaDirector
James NimonDirector
Keith JacquesDirector
Mathew EddyDirector
Paul SchumacherDirector
Maryanna ArsenaultSecretary
Eric GreenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$362,183
Program Service Revenue
$558,176
Investment Income
$4,057
Other Revenue
$0
Change in Net Assets
$-89,878

Audited Revenue Reconciliation

Revenue per Audited Statements
$924,416
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$924,416
Total Revenue per Form 990
$924,416
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$740,226
Salaries, Compensation, and Employee Benefits$274,068
Total Fundraising Expense$2,557
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$51,140$74,155$2,557$127,852
Other Salaries and Wages$84,247$23,882-$108,129
Interest$66,108--$66,108
Fees for Services Other$21,330$9,357-$30,687
Payroll Taxes$18,756$5,040-$23,796
Depreciation Depletion$12,797$5,614-$18,411
Other Expenses$12,217$5,359-$17,576
Insurance$8,637$3,789-$12,426
Other Employee Benefits$10,591$1,819-$12,410
Fees for Services Accounting$8,601$3,774-$12,375
Office Expenses$8,170$3,586-$11,756
Travel$4,390$1,926-$6,316
Advertising$2,628$1,153-$3,781
All Other Expenses$2,383$1,045-$3,428
Occupancy$1,990$873-$2,863
Pension Plan Contributions$1,655$226-$1,881
Total Functional Expenses$864,128$147,609$2,557$1,014,294

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,014,294
Total Expenses per Audited Statements$1,014,294
Total Expenses per Form 990$1,014,294
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Keith JacquesBoard Member Is on the Board of Directors of the Biddeford Savings Bank.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.No$350,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
City of Biddeford Micro Loan Pgm Payable$245,214
Capital Lease$17,304
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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.”

Filing and Contact Details

Filer

Filer Name
Biddeford-saco Area Economic Development
EIN
01-0472964
Phone
2072821748
Address
20 POMERLEAU STREET NO 300, BIDDEFORD, ME 04005
Doing Business As
Southern Maine Finance Agency

Signing Officer

Name
William O Armitage Ii
Title
Executive Director
Phone
2072821748
Signed
2020-07-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William O Armitage Ii
Formed
1992
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
12
Employees
3
Volunteers
0

Preparer

Firm
Runyon Kersteen Ouellette
Address
20 LONG CREEK DRIVE, SOUTH PORTLAND, ME 04106
Preparer
Thomas Emery
Phone
2077732986
Supplemental Narrative

Additional Explanations

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.”

Financial Statement Notes

PART X, LINE 2:

“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.”

Raw XML AppendixShowing 400 of 512 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt089877
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt040018
IRS990/AccountsReceivableGrp/BOYAmt010130
IRS990/AccountsReceivableGrp/EOYAmt015091
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt01153
IRS990/AdvertisingGrp/ProgramServicesAmt02628
IRS990/AdvertisingGrp/TotalAmt03781
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt01045
IRS990/AllOtherExpensesGrp/ProgramServicesAmt02383
IRS990/AllOtherExpensesGrp/TotalAmt03428
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0WILLIAM O ARMITAGE II
IRS990/BooksInCareOfDetail/PhoneNum02072821748
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt020 POMERLEAU STREET SUITE 300
IRS990/BooksInCareOfDetail/USAddress/CityNm0BIDDEFORD
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0ME
IRS990/BooksInCareOfDetail/USAddress/ZIPCd004005
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd01
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt071031
IRS990/CashNonInterestBearingGrp/EOYAmt0226293
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/FundraisingAmt02557
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt074155
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt051140
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0127852
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0362183
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt04057
IRS990/CYOtherExpensesAmt0740226
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0558176
IRS990/CYRevenuesLessExpensesAmt0-89878
IRS990/CYSalariesCompEmpBnftPaidAmt0274068
IRS990/CYTotalExpensesAmt01014294
IRS990/CYTotalFundraisingExpenseAmt02557
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0924416
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt05614
IRS990/DepreciationDepletionGrp/ProgramServicesAmt012797
IRS990/DepreciationDepletionGrp/TotalAmt018411
IRS990/Desc0THE CORPORATION SERVICED LOANS MADE IN PRIOR YEARS AND MADE NEW LOANS TO COMPANIES LOCATED IN, AND THAT PROVIDE JOBS WITHIN, YORK COUNTY, MAINE.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DoingBusinessAsName/BusinessNameLine1Txt0SOUTHERN MAINE FINANCE AGENCY
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt03
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0864128
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditPerformedInd01
IRS990/FederalGrantAuditRequiredInd01
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt03774
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt08601
IRS990/FeesForServicesAccountingGrp/TotalAmt012375
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt09357
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt021330
IRS990/FeesForServicesOtherGrp/TotalAmt030687
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt00.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt20.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt30.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt50.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt60.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt70.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt80.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt100.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt110.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt120.50
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1340.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd11X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd12X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1321422
IRS990/Form990PartVIISectionAGrp/PersonNm0RICHARD HODGDON
IRS990/Form990PartVIISectionAGrp/PersonNm1LORRAINE BOSTON
IRS990/Form990PartVIISectionAGrp/PersonNm2ALAN CASAVANT
IRS990/Form990PartVIISectionAGrp/PersonNm3MATHEW EDDY
IRS990/Form990PartVIISectionAGrp/PersonNm4MARYANNA ARSENAULT
IRS990/Form990PartVIISectionAGrp/PersonNm5PAUL SCHUMACHER
IRS990/Form990PartVIISectionAGrp/PersonNm6ALAN MINTHORN
IRS990/Form990PartVIISectionAGrp/PersonNm7DENISE M CLAVETTE
IRS990/Form990PartVIISectionAGrp/PersonNm8CHUCK BATES
IRS990/Form990PartVIISectionAGrp/PersonNm9KEITH JACQUES
IRS990/Form990PartVIISectionAGrp/PersonNm10JAMES NIMON
IRS990/Form990PartVIISectionAGrp/PersonNm11GARY SAMIA
IRS990/Form990PartVIISectionAGrp/PersonNm12ERIC GREEN
IRS990/Form990PartVIISectionAGrp/PersonNm13WILLIAM O ARMITAGE II
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13105455
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01992
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GovernmentGrantsAmt0362183
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0924416
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt03789
IRS990/InsuranceGrp/ProgramServicesAmt08637
IRS990/InsuranceGrp/TotalAmt012426
IRS990/InterestGrp/ProgramServicesAmt066108
IRS990/InterestGrp/TotalAmt066108
IRS990/InvestmentIncomeGrp/ExclusionAmt04057
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt04057
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt058299
IRS990/LandBldgEquipBasisNetGrp/BOYAmt078709
IRS990/LandBldgEquipBasisNetGrp/EOYAmt090929
IRS990/LandBldgEquipCostOrOtherBssAmt0149228
IRS990/LegalDomicileStateCd0ME
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd01
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt01875923
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt02907286
IRS990/NetAssetsOrFundBalancesBOYAmt04871597
IRS990/NetAssetsOrFundBalancesEOYAmt04781719
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0873
IRS990/OccupancyGrp/ProgramServicesAmt01990
IRS990/OccupancyGrp/TotalAmt02863
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03586
IRS990/OfficeExpensesGrp/ProgramServicesAmt08170
IRS990/OfficeExpensesGrp/TotalAmt011756
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01819
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt010591
IRS990/OtherEmployeeBenefitsGrp/TotalAmt012410
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1ANNUAL PROGRAM FEE
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06011
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15359
IRS990/OtherExpensesGrp/ProgramServicesAmt0506218
IRS990/OtherExpensesGrp/ProgramServicesAmt128565
IRS990/OtherExpensesGrp/ProgramServicesAmt213705
IRS990/OtherExpensesGrp/ProgramServicesAmt312217
IRS990/OtherExpensesGrp/TotalAmt0506218
IRS990/OtherExpensesGrp/TotalAmt128565
IRS990/OtherExpensesGrp/TotalAmt219716
IRS990/OtherExpensesGrp/TotalAmt317576
IRS990/OtherLiabilitiesGrp/BOYAmt0264316
IRS990/OtherLiabilitiesGrp/EOYAmt0262518
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt023882
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt084247
IRS990/OtherSalariesAndWagesGrp/TotalAmt0108129
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt06052921
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt05966372
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05040
IRS990/PayrollTaxesGrp/ProgramServicesAmt018756
IRS990/PayrollTaxesGrp/TotalAmt023796
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0226
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01655
IRS990/PensionPlanContributionsGrp/TotalAmt01881
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt03121
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02774
IRS990/PrincipalOfficerNm0WILLIAM O ARMITAGE II
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1LOAN FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0476279
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt181897
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0476279
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt181897
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0445642
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01462
IRS990/PYOtherExpensesAmt0266780
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0540773
IRS990/PYRevenuesLessExpensesAmt0461249
IRS990/PYSalariesCompEmpBnftPaidAmt0259848
IRS990/PYTotalExpensesAmt0526628
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0987877
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-89878
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0558176
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0885801
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01690082
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0362183
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0445642
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0487453
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0969683
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt079683
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02344644
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus2YearsAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt015192
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04057
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01462
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0854
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0204
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt077
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06654
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02324924
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99720
IRS990ScheduleA/PublicSupportPY170Pct00.99880
IRS990ScheduleA/PublicSupportTotal170Amt02359836
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0367247
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0450706
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0492517
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0969683
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt079683
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02359836
IRS990ScheduleA/TotalSupportAmt02366490
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleC/DirectContactLegislatorsAmt02459
IRS990ScheduleC/DirectContactLegislatorsInd01
IRS990ScheduleC/GrantsOtherOrganizationsInd00
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd01
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0PART II-B, LINE 1:
IRS990ScheduleC/TotalLobbyingExpendituresAmt02459
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt090929
IRS990ScheduleD/EquipmentGrp/DepreciationAmt058299
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0149228
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01014294
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0245214
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt117304
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CITY OF BIDDEFORD MICRO LOAN PGM PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL LEASE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0924416
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt090929
IRS990ScheduleD/TotalExpensesPerForm990Amt01014294
IRS990ScheduleD/TotalLiabilityAmt0262518
IRS990ScheduleD/TotalRevenuePerForm990Amt0924416
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0924416
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01014294
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0KEITH JACQUES

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,991,541
Liabilities
$3,209,822
Net assets
$4,781,719
Revenue
$924,416
Expenses
$1,014,294
Net income
-$89,878
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.87$2.19$5.69$1.40$0.76$0.64
2023Detailed filing. Detailed filing data is available for this year.$7.49$2.44$5.05$0.72$0.76$0.04
2022Detailed filing. Detailed filing data is available for this year.$7.73$2.63$5.09$0.66$0.62$0.04
2021Detailed filing. Detailed filing data is available for this year.$7.91$2.86$5.06$0.75$0.58$0.17
2020Detailed filing. Detailed filing data is available for this year.$7.94$3.00$4.93$0.83$0.68$0.15
2019Detailed filing. Detailed filing data is available for this year.$7.99$3.21$4.78$0.92$1.01$0.09
2018Summary only. Only limited summary data is available for this year.$7.10$2.23$4.87$0.99$0.53$0.46
2017Detailed filing. Detailed filing data is available for this year.$6.77$2.36$4.41$0.85$0.66$0.19
2016Detailed filing. Detailed filing data is available for this year.$6.41$2.19$4.22$1.44$0.39$1.04
2015Detailed filing. Detailed filing data is available for this year.$5.38$2.20$3.18$0.48$0.39$0.09
2014Detailed filing. Detailed filing data is available for this year.$4.79$1.70$3.09$0.58$0.39$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.57$1.67$2.90$0.41$0.37$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.51$1.64$2.87$0.44
2011Summary only. Only limited summary data is available for this year.$4.05$1.09$2.97$0.29$0.40$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.40$1.33$3.07$0.32