2024-05-10T14:31:32-05:00 2023-09-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2022-10-01 010540981 Community Concepts Finance Corporation COMM 2077396545 240 Bates Street Lewiston ME 04240 Laura Gormley Chief Financial Officer 2077396545 2024-05-09 1 Laura Gormley 999009999 1 Barbara J McGuan CPA P00219457 2077752387 2024-05-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z James Martin 240 Bates Street Lewiston ME 04240 2055844 0 X N/A X 2000 ME To encourage, stimulate and promote housing development and home ownership within Maine. 5 5 0 5 0 0 761802 1211095 918700 843203 1319 1546 0 0 1681821 2055844 92217 108440 0 0 0 0 0 0 0 1817138 1892774 1909355 2001214 -227534 54630 12664182 12510089 8345828 8137105 4318354 4372984 X To encourage, stimulate and promote housing development and home ownership within Maine, targeting low income families; To provide alternative financial resources for affordable housing development and low income homeownership; To provide education, training and other services supporting the development of low income housing; And to provide education and financial resources, including loans, for business and economic development activities in urban and rural low-income areas. 0 0 1844116 108440 843203 Housing - Creates homeowners through lending and home building and seeks development of affordable multi-family housing through various funding mechanisms. Services include lending services, credit and home ownership education. Similar services provided in the areas of small business lending and economic development. 1844116 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 70 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X Sadie Reinhard 2077954065 240 Bates Street Lewiston ME 04240 Travis Frautten Chair 2.50 0.00 X X 0 0 0 Christopher Paradis Vice Chair 2.00 2.00 X X 0 0 0 Lincoln Jeffers Secretary 2.50 0.00 X X 0 0 0 Steven Davis Director 1.50 0.00 X 0 0 0 Fowsia Musse Director 1.50 2.00 X 0 0 0 Nathan Libby President 40.00 0.00 X 0 96246 6870 James Martin CEO - CCI 10.00 30.00 X 0 2035 669 Laura Gormley CFO - CCI 10.00 30.00 X 0 125444 26369 Mary-Rita Reinhard Interim CEO, COO - CCI 0.00 40.00 X 0 142729 21924 0 366454 55832 0 0 1 0 Community Concepts Inc 240 Bates Street Lewiston ME 04240 Management Services 1005162 1 587920 623175 1211095 Interest Income, Loans 525990 623346 623346 Fees, Private 525990 146821 146821 Other Income 525990 73036 73036 843203 1546 1546 2055844 843203 0 1546 108440 108440 1005162 1005162 20367 20367 15000 15000 26564 26564 5778 5778 15098 15098 135186 135186 57809 57809 7975 7975 224407 224407 1126 1126 Miscellaneous 168196 168196 Indirect G&A Costs 157098 157098 Equipment Expense 49423 49423 Dues and Subscriptions 3585 3585 2001214 1844116 157098 0 X 2790796 1684629 2730593 2006728 250867 545077 6661641 7977165 0 67984 46649 46649 0 0 42917 41138 187368 187368 12664182 12510089 171633 156777 62082 75790 34066 22022 5349551 5320704 2100000 2100000 628496 461812 8345828 8137105 X -79334 -89306 4397688 4462290 4318354 4372984 12664182 12510089 54630 0 X 0 1 X 1 1 1 X 588762 663591 823894 761802 1211095 4049144 588762 663591 823894 761802 1211095 4049144 4049144 4812 4740 3040 1319 1546 15457 4064601 4484462 0.99620 0.99420 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 46649 46649 0 0 Due to Affiliate 453075 Loan Payment Reserve 8737 461812 X 2055844 0 2055844 0 2055844 2001214 0 2001214 0 2001214 Part IV, Line 2b: From time to time the Organization holds loan proceeds on behalf of homeownership clients. Part X, Line 2: The Organization follows the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 740-10, Income Taxes - Overall, including those related to uncertain tax positions. This guidance 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 effect on the Organization's consolidated financial statements related to following these provisions, and no interest or penalties related to uncertain tax positions were accrued. The Organization is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for years ended September 30, 2020 through 2023. 1 Provision of soft-second financing subsidies and related assistance to eligible homeowners. 22 108440 Part I, Line 2: The Organization monitors use of grant funds through continuing relationships with recipients. Amounts granted are non-cash in nature - funds are paid directly to vendor, financial institution, etc. 0 0 0 0 0 0 0 0 0 Mary-Rita Reinhard Interim CEO, COO - CCI 0 142729 0 0 0 0 0 8707 0 13217 0 164653 0 0 Laura Gormley CFO - CCI 0 125444 0 0 0 0 0 7744 0 18625 0 151813 0 0 Form 990, Schedule J, Part I, Line 3: Compensation for the Organization's CEO & CFO is paid through a related organization, Community Concepts, Inc., and is based on a written employment contract, compensation survey data and is approved by that organization's Board of Directors. Form 990, Part VI, Section A, line 7a The Board of a related organization, Community Concepts, Inc. has the power to appoint two members of the Organization's Board of Directors. Form 990, Part VI, Section A, line 7b The Organization's budget is subject to approval by the Board of Directors of Community Concepts, Inc. Form 990, Part VI, Section B, line 11b The Form 990 was prepared by the Organization's public accountant and reviewed by the Organization's finance committee, and then provided to the Board of Directors prior to submission. Form 990, Part VI, Section B, line 12c The conflict of interest policy is monitored for compliance by multiple funding sources during their reviews of the Agency and also self-monitored by the Board of Directors. All employees occupy a position of trust with Community Concepts Finance Corporation and, as a result, have a duty of loyalty to the Agency, both during and after the employment relationship. Employees are required to avoid any relationship or activity that might create or give the appearance of a conflict between their personal or family interests and the interests of the Agency. A "conflict of interest" occurs when an individual's private interest interferes or appears to interfere with the interests of the Agency. A conflict of interest can arise when a director, officer or employee takes actions or has interests that may make it difficult to perform his or her Agency work objectively and effectively. Employees must disclose any relationship that appears to create a conflict of interest to the Director of Human Resources or the CEO. Employees must also obtain written pre-approval before proceeding with any transaction, conduct or investment that creates or appears to create a conflict of interest. Form 990, Part VI, Section B, line 15 The compensation of the CEO is determined based on comparable salary studies for the non-profit industry. Form 990, Part VI, Section C, line 19 The Organization's governing documents, conflict of interest policy and financial statements are available upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: Community Concepts Finance Corporation 240 Bates Street Lewiston, ME 04240 EIN: 01-0540981 Section 1.263(a)-3(n) Election: Community Concepts Finance Corporation is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Community Concepts Inc 240 Bates Street Lewiston ME 04240 010424969 Community-action agency serving lower income families ME 501(c)(3) Line 7 N/A 0 Lewiston Auburn Community Housing Inc 240 Bates Street Lewiston ME 04240 202341500 Low-Income Housing Development and Financing ME 501(c)(3) Line 7 N/A 0 Community Concepts Development Corporation 240 Bates Street Lewiston ME 04240 364510585 Low Income Housing Development ME 501(c)(3) Line 12a, I Community Concepts Inc 0 Court Street Senior Housing Association 247 Commercial Street Rockport ME 048565964 010467910 Low Income Housing Development ME N/A 0 0 Blake & Pine LP 240 Bates Street Lewiston ME 04240 320578654 Low Income Housing Development ME N/A 0 0 Community Concepts Housing Corporation 240 Bates Street Lewiston ME 04240 262063441 Low Income Housing Development ME N/A C 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0