Civic Intelligence

Southern Maine Finance Agency

990 • Fiscal year 2020 • EIN 01-0472964

Jul 01, 2019 to Jun 30, 2020 • Filed on May 05, 2021

Organization ProfileSMFAMAINE.ORG
20 Pomerleau StreetBiddeford, ME 04005

(207) 282-1748

Siviq Scores

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

Liabilities / Assets

69th percentile

0.38x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

92nd percentile

3.62x

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

74th percentile

18%

Higher net margin than 74% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

54th percentile

$130,372

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

26th percentile

-0.7%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

29th percentile

-10%

Faster revenue growth than 29% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$7,936,623

Down $54,918 (-0.7%) from 2019

Net Assets

Up

$4,933,898

Up $152,179 (+3.2%) from 2019

Liabilities

Down

$3,002,725

Down $207,097 (-6.5%) from 2019

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin74th percentile

Revenue

Down

$828,928

Down $95,488 (-10%) from 2019

Expenses

Down

$676,749

Down $337,545 (-33%) from 2019

Net Income

Up

$152,179

Up $242,057 (+269%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2020

Assets$7,936,623
Liabilities$3,002,725
Net Assets$4,933,898
Open 2020 Filing

Operations Trend

Revenue Growth29th 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

2020

Revenue$828,928
Expenses$676,749
Net Income$152,179
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 5, 2021
Return Version
2019v5.0
Gross Receipts
$828,928
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$5,966,372$6,065,535▲ $99,163
Savings and Temporary Cash Investments$1,690,082$1,419,924▼ $270,158
Cash and Non-Interest-Bearing Accounts$226,293$219,516▼ $6,777
Accounts Receivable$15,091$157,851▲ $142,760
Land, Buildings, and Equipment, Net$90,929$66,993▼ $23,936
Prepaid Expenses and Deferred Charges$2,774$6,804▲ $4,030
Total Assets$7,991,541$7,936,623▼ $54,918
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,907,286$2,675,020▼ $232,266
Other Liabilities$262,518$258,709▼ $3,809
Unsecured Notes Loans Payable-$47,700-
Accounts Payable and Accrued Expenses$40,018$21,296▼ $18,722
Total Liabilities$3,209,822$3,002,725▼ $207,097
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,137,216$4,251,981▲ $114,765
Net Assets Without Donor Restrictions$644,503$681,917▲ $37,414
Total Net Assets Fund Balance$4,781,719$4,933,898▲ $152,179
Total Liabilities and Net Assets / Fund Balance$7,991,541$7,936,623▼ $54,918

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$66,993$92,634$159,627
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
William O Armitage IiExecutive DiFT$106,835$23,537$130,372

Board Members and Trustees

NameTitle
Richard HodgdonPresident
Alan CasavantDirector
Alan MinthornDirector
Brian HaleyDirector
Chuck BatesDirector
Denise M ClavetteDirector
Gary SamiaDirector
James F NimonDirector
Mathew EddyDirector
Paul SchumacherDirector
Keith JacquesSecretary
Jan WilliamsTreasurer
Lorraine BostonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$214,656
Program Service Revenue
$602,441
Investment Income
$11,831
Other Revenue
$0
All Other Contributions
$7,834
Change in Net Assets
$152,179

Audited Revenue Reconciliation

Revenue per Audited Statements
$828,928
Total Revenue per Audited Statements
$828,928
Total Revenue per Form 990
$828,928
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$361,733
Salaries, Compensation, and Employee Benefits$315,016
Total Fundraising Expense$2,652
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$132,154$11,049-$143,203
Current Officers, Directors, Trustees, and Key Employees$53,045$76,916$2,652$132,613
Interest$60,588--$60,588
Depreciation Depletion$17,299$7,489-$24,788
Payroll Taxes$13,423$5,811-$19,234
Other Employee Benefits$17,867--$17,867
Fees for Services Accounting$8,898$3,852-$12,750
Office Expenses$7,433$3,219-$10,652
Insurance$6,812$2,949-$9,761
Fees for Services Other$3,579$1,549-$5,128
Other Expenses$3,335$1,444-$4,779
Travel$2,840$1,230-$4,070
Advertising$1,518$657-$2,175
Pension Plan Contributions$2,099--$2,099
All Other Expenses$1,416$613-$2,029
Total Functional Expenses$550,732$123,365$2,652$676,749

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$676,749
Total Expenses per Audited Statements$676,749
Total Expenses per Form 990$676,749
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
-Board MemberBiddeford SavingsNo$350,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
City of Biddeford Micro Loan Payable$246,422
Capital Lease$12,287
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 35% controlled entity
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, Page 6, Part VI, Line 7A

“The cities of biddeford, me and saco, me and the sanford regional economic growth council each have two seats on the baord, 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, Page 6, Part VI, 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, Page 6, Part VI, Line 12C

“This policy is reviewed and signed by the board of directors at each annual meeting.”

Form 990, Page 6, Part VI, Line 15A

“The executive committee meets annually to review the 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, Page 6, Part VI, Line 19

“Documents are made available to the public upon request whether by email phone or in-person. Additionally, information regarding the organization can be found on the internet at guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Biddeford-saco Area Economic
EIN
01-0472964
Phone
2072821748
Address
20 POMERLEAU STREET, BIDDEFORD, ME 04005
Doing Business As
Southern Maine Finance Agency

Signing Officer

Name
William O Armitage Ii
Title
Executive Director
Phone
0020728217
Signed
2021-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William O Armitage Ii
Formed
1992
Legal Domicile
Me
Voting Board Members
13
Independent Board Members
12
Employees
4

Preparer

Firm
Runyon Kersteen Ouellette
Address
20 LONG CREEK DR, SOUTH PORTLAND, ME 04106
Preparer
RORY O'BRION
Phone
2077732986
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 2C

“The executive committee acts as the audit committee. The process for oversight of the audit and selection of the independent auditors has not changed from the prior year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Accounting principles generally accepted in the united states of america requires management to evaluate tax positions taken by the smfa and recognize a tax liability if the smfa has taken an uncertain tax position that more likely than not would not be sustained upon examination by the internal revenue service and state taxing authorities. The smfa is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Schedule D, Page 4, Part XIII

“The smfa is operating as a not-for-profit organization and has received an internal revenue service determination of being exempt from income taxes under section 501(c)(3). There has been no provision for income taxes as a result, and contributions to the smfa are generally tax deductible.”

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

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IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GovernmentGrantsAmt0206822
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0828928
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt02949
IRS990/InsuranceGrp/ProgramServicesAmt06812
IRS990/InsuranceGrp/TotalAmt09761
IRS990/InterestGrp/ProgramServicesAmt060588
IRS990/InterestGrp/TotalAmt060588
IRS990/InvestmentIncomeGrp/ExclusionAmt011831
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt011831
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt092634
IRS990/LandBldgEquipBasisNetGrp/BOYAmt090929
IRS990/LandBldgEquipBasisNetGrp/EOYAmt066993
IRS990/LandBldgEquipCostOrOtherBssAmt0159627
IRS990/LegalDomicileStateCd0ME
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0true
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO PROMOTE SUSTAINABLE ECONOMIC PROSPERITY THROUGH REGIONAL BUSINESS LENDING, TARGETING UNDERSERVED MARKETS.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt02907286
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt02675020
IRS990/NetAssetsOrFundBalancesBOYAmt04781719
IRS990/NetAssetsOrFundBalancesEOYAmt04933898
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0644503
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0681917
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03219
IRS990/OfficeExpensesGrp/ProgramServicesAmt07433
IRS990/OfficeExpensesGrp/TotalAmt010652
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt017867
IRS990/OtherEmployeeBenefitsGrp/TotalAmt017867
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1ANNUAL PROGRAM FEE
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06587
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11444
IRS990/OtherExpensesGrp/ProgramServicesAmt0178750
IRS990/OtherExpensesGrp/ProgramServicesAmt124462
IRS990/OtherExpensesGrp/ProgramServicesAmt215214
IRS990/OtherExpensesGrp/ProgramServicesAmt33335
IRS990/OtherExpensesGrp/TotalAmt0178750
IRS990/OtherExpensesGrp/TotalAmt124462
IRS990/OtherExpensesGrp/TotalAmt221801
IRS990/OtherExpensesGrp/TotalAmt34779
IRS990/OtherLiabilitiesGrp/BOYAmt0262518
IRS990/OtherLiabilitiesGrp/EOYAmt0258709
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt011049
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0132154
IRS990/OtherSalariesAndWagesGrp/TotalAmt0143203
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt05966372
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt06065535
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05811
IRS990/PayrollTaxesGrp/ProgramServicesAmt013423
IRS990/PayrollTaxesGrp/TotalAmt019234
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02099
IRS990/PensionPlanContributionsGrp/TotalAmt02099
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02774
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06804
IRS990/PrincipalOfficerNm0WILLIAM O ARMITAGE II
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0INTEREST INCOME
IRS990/ProgramServiceRevenueGrp/Desc1LOAN FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0459902
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1142539
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0459902
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1142539
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0362183
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt04057
IRS990/PYOtherExpensesAmt0740226
IRS990/PYProgramServiceRevenueAmt0558176
IRS990/PYRevenuesLessExpensesAmt0-89878
IRS990/PYSalariesCompEmpBnftPaidAmt0274068
IRS990/PYTotalExpensesAmt01014294
IRS990/PYTotalRevenueAmt0924416
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0152179
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0602441
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01690082
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01419924
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0214656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0362183
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0445642
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0487453
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0969683
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02479617
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus2YearsAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt05064
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt020256
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt011831
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04057
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01462
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0854
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0204
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt018408
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01971018
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99270
IRS990ScheduleA/PublicSupportPY170Pct00.99870
IRS990ScheduleA/PublicSupportTotal170Amt02499873
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0219720
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0367247
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0450706
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0492517
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0969683
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02499873
IRS990ScheduleA/TotalSupportAmt02518281
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/ScheduleBRequiredInd0true
IRS990ScheduleC/DirectContactLegislatorsAmt02652
IRS990ScheduleC/DirectContactLegislatorsInd0true
IRS990ScheduleC/GrantsOtherOrganizationsInd0false
IRS990ScheduleC/MailingsMembersInd0false
IRS990ScheduleC/MediaAdvertisementsInd0false
IRS990ScheduleC/NotDescribedSection501c3Ind0false
IRS990ScheduleC/OtherActivitiesInd0false
IRS990ScheduleC/PaidStaffOrManagementInd0true
IRS990ScheduleC/PublicationsOrBroadcastInd0false
IRS990ScheduleC/RalliesDemonstrationsInd0false
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/FormAndLineReferenceDesc0SCHEDULE C, PART I-A, LINE 1
IRS990ScheduleC/TotalLobbyingExpendituresAmt02652
IRS990ScheduleC/VolunteersInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt066993
IRS990ScheduleD/EquipmentGrp/DepreciationAmt092634
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0159627
IRS990ScheduleD/ExpensesSubtotalAmt0676749
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0246422
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt112287
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CITY OF BIDDEFORD MICRO LOAN PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL LEASE
IRS990ScheduleD/RevenueSubtotalAmt0828928
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE SMFA AND RECOGNIZE A TAX LIABILITY IF THE SMFA HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES. THE SMFA IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
IRS990ScheduleD/TotalBookValueLandBuildingsAmt066993
IRS990ScheduleD/TotalExpensesPerForm990Amt0676749
IRS990ScheduleD/TotalLiabilityAmt0258709
IRS990ScheduleD/TotalRevenuePerForm990Amt0828928
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0828928
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0676749
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0KEITH JACQUES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0350000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0BIDDEFORD SAVINGS
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0(A) NAME OF PERSON: KEITH JACQUES (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: BOARD MEMBER IS ON THE BOARD OF DIRECTORS OF THE BIDDEFORD SAVINGS BANK. (D) DESCRIPTION OF TRANSACTION: BIDDEFORD SAVINGS EQ2 LOANS 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.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,936,623
Liabilities
$3,002,725
Net assets
$4,933,898
Revenue
$828,928
Expenses
$676,749
Net income
$152,179
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