Overview
What is Southern Maine Finance Agency?
The Southern Maine Finance Agency, situated in Biddeford, Maine, is a nonprofit organization with a focus on promoting sustainable economic prosperity. They achieve this mission through regional business lending, specifically targeting underserved markets. The agency provides loans to companies that have previously benefited from their services and also extends new loans to businesses situated in York County, Maine, thereby contributing to job creation within the region. With a modest team of four employees, Southern Maine Finance Agency plays a significant role in fostering economic growth and development within its local community.
Official website here: www.smfamaine.org
Is Southern Maine Finance Agency legitimate?
Southern Maine Finance Agency is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Maine Finance Agency submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $145,337
Professional Fundraising Fees: $0
Other Salaries and Wages: $145,216
For more financial information, click here
Official website here: www.smfamaine.org
What is the mission statement of Southern Maine Finance Agency?
The Southern Maine Finance Agency's mission is centered around fostering sustainable economic growth. They achieve this goal through regional business lending, with a particular focus on underserved markets. By providing loans to companies, the agency aims to create job opportunities within the community. In summary, the Southern Maine Finance Agency strives to stimulate economic prosperity in various sectors, prioritizing areas that may not have traditionally had access to such resources.
Official website here: www.smfamaine.org
Who is the CEO of Southern Maine Finance Agency?
William O Armitage Ii is the President of Southern Maine Finance Agency.
Official website here: www.smfamaine.org
What is the revenue of Southern Maine Finance Agency?
Southern Maine Finance Agency's revenue in 2022 was $658,421.
Official website here: www.smfamaine.org
Who are the executives of Southern Maine Finance Agency and what are their salaries?
The average compensation at Southern Maine Finance Agency during 2022 was $72,638. There are 4 employees and 19 volunteers at Southern Maine Finance Agency.
Here are 15 key members and their salaries:
- William O Armitage Ii (President)
- Jan Williams (Chair) [Trustee/Director]
- Lorraine Boston (Vice-Chair) [Trustee/Director]
- Rick Olsen (Treasurer) [Trustee/Director]
- Keith Jacques (Secretary) [Trustee/Director]
- Alan Casavant (Director)
- Marshall Archer (Director)
- Denise Clavette (Director)
- Betty Olsen (Director)
- Brian Haley (Director)
- Andy Kany (Director)
- Paul Schumacher (Director)
- Ayn Hanselmann (Director)
- Bob Georgitis (Director)
- Dick Hodgdon (Director)
Official website here: www.smfamaine.org
Where can I find the form 990 for Southern Maine Finance Agency?
The Southern Maine Finance Agency’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.smfamaine.org
Learn more at the official website: www.smfamaine.org
Mission Statement of Southern Maine Finance Agency
Southern Maine Finance Agency, a notable organization, is dedicated to fostering sustainable economic prosperity through regional business lending. This mission specifically targets underserved markets. By providing loans to companies, the agency seeks to encourage job growth within the communities it serves. The agency's activities extend beyond just disbursing loans made in the previous year; it also extends new loans to businesses located in the region, creating employment opportunities. The Southern Maine Finance Agency's endeavors aim to stimulate economic growth in underserved markets, thereby contributing to the overall prosperity of the region.
Impact
This information is meant to be a general summary of Southern Maine Finance Agency. Please take the time to review official sources before making any decisions based upon the content provided here.
Wednesday, July 24, 2024
Southern Maine Finance Agency's impact is significant in promoting sustainable economic prosperity through regional business lending, specifically targeting underserved markets. By servicing loans made in prior years and providing new loans to companies located in York County, Maine, this agency is directly contributing to the growth of local businesses and the creation of jobs in the region. Through its efforts, Southern Maine Finance Agency is actively working towards improving the economic landscape of the community and ensuring that businesses in underserved markets have access to the necessary funding for growth and success.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$394,289
LOAN FEE INCOME
Revenue
$222,966
Organization Details
Founding Year
1992
Phone
(207) 282-1748
Principal Officer
William O Armitage Ii
Main Address
20 POMERLEAU STREET, BIDDEFORD, ME, 04005
Website
www.smfamaine.org
NTEE Category
Code: S20 - Community improvement
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