Saco Main Street Inc
- Assets
- $85.2k
- Revenue
- $358.0k
- Investments
- $0.0
- Employees
- 23
- Location
- Saco, ME
- Founding
- 12/2004
- Data as of
- 12/2021
- EIN
- 14-2065342
Organization Overview
Saco Main Street Inc is located in Saco, ME. The organization was established in 2004. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Saco Main Street Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Saco Main Street Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Saco Main Street Inc generated $358.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $361.3k during the year ending 12/2021. While expenses have increased by 20.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LESSEN THE BURDEN OF LOCAL GOVERNMENT BY WORKING WITH PLANNING AND DEVELOPMENT DIRECTORS AND LOCAL BUSINESSES TO REVITALIZE SACO'S MAIN STREET AND DOWNTOWN
Describe the Organization's Program Activity:
Part 3 - Line 4a
SACO MAIN STREET SUPPORTS OUR DOWNTOWN'S ECONOMIC AND CULTURAL VITALITY THROUGH CONCENTRATED EFFORTS IN THE AREAS OF DESIGN, ORGANIZATION, PROMOTION AND ECONOMIC REVITALIZATION, WHILE PROTECTING THE CITY'S UNIQUE HISTORIC CHARACTER. THIS APPROACH IS A COMPREHENSIVE, LONG-TERM, STRATEGY TAILORED TO THE LOCAL NEEDS AND OPPORTUNITIES OF THE COMMUNITY. THE SACO MAIN STREET ORGANIZATION IMPLEMENTS ANNUAL INITIATIVES FOR ECONOMIC GROWTH AND ORGANIZES COMMUNITY ENGAGEMENT ACTIVITIES INCLUDING FAMILY FRIENDLY EVENTS SUCH AS THE ANNUAL ART FESTIVAL & PUMPKIN HARVEST FESTIVAL DRAWING THOUSANDS OF PEOPLE TO THE DOWNTOWN. SMS ORGANIZES BEAUTIFICATION EFFORTS SUCH AS SEASONAL PLANTERS, FLAGS & BANNERS ON MAIN STREET, AND PARTICIPATES IN INITIATIVES TO INCREASE PEDESTRIAN FRIENDLINESS AND EXPANSION OF PUBLIC ART, IN AN EFFORT TO CONTRIBUTE TO THE OVERALL HEALTH AND WELL-BEING OF OUR COMMUNITY.
THE ORGANIZATION OPENED THE SACO SCOOP IN 2018 ON MAIN STREET AS A COMMUNITY SPACE THAT SERVES ICE CREAM TO THE GENERAL PUBLIC, BUT ALSO HOSTS COMMUNITY EVENTS, OFFERS EDUCATIONAL SPACE FOR CHILDREN'S ACTIVITIES, PROVIDES FREE MEETING SPACE FOR LOCAL GROUPS (SUCH AS SACO AGE FRIENDLY, ECONOMIC VITALITY COMMITTEES, GAME NIGHTS FOR OTHER NON-PROFIT GROUPS, ETC.)THE SACO SCOOP ALSO FOCUSES ON WORKFORCE DEVELOPMENT BY EMPLOYING HIGH SCHOOL STUDENTS AND PROVIDING OPPORTUNITIES FOR THEM TO CREATE BUSINESS MODEL TEAMS, LEARN BUSINESS PLANNING AND MARKETING,AS WELL AS THE VALUE OF COMMUNITY ENGAGEMENT. AS A RESULT OF ITS OPENING, THE SACO SCOOP'S PRESENCE HAS SERVED AS AN ECONOMIC DRIVER BY INCREASING FOOT TRAFFIC TO THE DOWNTOWN AND THROUGH CONTINUED PROMOTION OF OTHER BUSINESSES, SERVICES AND AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessa Berna Director | Trustee | 1 | $0 |
Michael Burman Director | Trustee | 1 | $0 |
Amy Desroberts Director | Trustee | 1 | $0 |
Brian Doyle Director | Trustee | 1 | $0 |
Heather Forbes Secretary, V | OfficerTrustee | 2 | $0 |
Amelia Foster Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,803 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $102,803 |
| Total Program Service Revenue | $219,768 |
| Investment income | $73 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $350 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $358,024 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $54,812 |
| Compensation of current officers, directors, key employees. | $16,444 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,457 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,057 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $245 |
| Fees for services: Accounting | $3,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,170 |
| Advertising and promotion | $1,800 |
| Office expenses | $5,349 |
| Information technology | $2,397 |
| Royalties | $0 |
| Occupancy | $23,421 |
| Travel | $196 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $808 |
| Interest | $44 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135 |
| Insurance | $3,752 |
| All other expenses | $21,644 |
| Total functional expenses | $361,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,828 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $371 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $85,199 |
| Accounts payable and accrued expenses | $1,602 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,000 |
| Other liabilities | $0 |
| Total liabilities | $6,602 |
| Net assets without donor restrictions | $78,597 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $85,199 |