2024-08-15T07:33:11-05:00 2023-09-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2022-10-01 010539222 MaineStream Finance MAIN 2079733500 PO Box 1162 Bangor ME 044021162 Denice Conary Chief Financial Officer 2079733500 2024-08-14 1 1 Joseph R Byrne P01289281 2077752387 2024-08-14 2022 2024-08-08 14:25:15Z Kara Hay PO Box 1162 Bangor ME 044021162 484821 0 X www.mainestreamfinance.org X 2000 ME To promote community development and perform all functions permitted as community development financial institution, primarily through financing activities, servicing the low income targeted population of the state of Maine. 6 6 0 66 0 0 1141675 86376 304059 398445 -3500 0 0 0 1442234 484821 6515 6069 0 0 0 0 0 0 0 636668 577580 643183 583649 799051 -98828 6730189 6908881 3895092 4172612 2835097 2736269 X To promote community development and perform all functions permitted as community development financial institution, primarily through financing activities servicing the low income targeted population of the state of Maine. 0 0 496085 6069 398445 LOAN SERVICING: MaineStream Finance provides loans, education, and services to assist individuals to start small businesses and assist existing small businesses to grow. Assistance includes financial review, assistance with a business plan, foreclosure, debt management, budget and business cash flow counseling. MaineStream Finance loans funds to day care providers that are used to establish/expand child care businesses in order to create job opportunities for low-income individuals.MaineStream Finance also offers loans to those who can not qualify for other loan products at an affordable rate. First mortgage loans are available to purchase, rehabilitate or refinance residential owner-occupied properties. Through education programs, MaineStream Finance fosters successful homeownership, entrepreneurship, and wealth creation. Financial counseling occurs pre- and post-loan closing. If borrowers qualify for USDA/RD loans and/or Maine Housing's loans, MaineStream Finance encourages and assists them to apply for those products if appropriate. Classes are offered for individuals seeking to purchase a home to learn the process and calculations involved in loan processing, home owners insurance, escrows, home inspections, and all other aspects of a home purchase. 496085 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 0 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 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Denice Conary 2079733500 PO Box 1162 Bangor ME 044021162 Kayla Dunn Board Chair 1.00 0.00 X X 0 0 0 William Bennett Director 1.00 0.00 X 0 0 0 Brent Folster Director 1.00 1.00 X 0 0 0 Harvey Gosselin III Director 1.00 0.00 X 0 0 0 Scott Kilcollins Director 1.00 0.00 X 0 0 0 Keith Romprey Director 1.00 1.00 X 0 0 0 Michelle Cobb Past Director 1.00 0.00 X 0 0 0 Emmett Butts Past Director 1.00 0.00 X 0 0 0 Kara Hay President 0.00 40.00 X 0 231666 30636 Denice Conary Chief Financial Officer 0.30 39.70 X 0 174014 23850 0 405680 54486 0 0 1 0 Penquis CAP Inc PO Box 1162 Bangor ME 044021162 Management Services 255274 1 981 85395 86376 Loan Interest Income 525990 359170 359170 Homebuyer Education 525990 21318 21318 Loan Servicing 525990 17957 17957 398445 484821 398445 0 0 6069 6069 255274 205561 49713 1593 1593 28543 28543 6129 6129 22804 21548 1256 1612 1171 441 23075 22952 123 38425 31883 6542 455 290 165 105408 105408 5710 4247 1463 Miscellanous Expense 38894 38894 Allocation of Managemen 27861 27861 Bad Debt Expense 21797 21797 583649 496085 87564 0 X 204384 608702 1751151 1092344 38903 60956 4588198 4998481 2553 3398 52258 52258 0 0 145000 145000 6730189 6908881 26268 24213 2806477 2928903 1037213 962213 25134 257283 3895092 4172612 X 425645 756450 2409452 1979819 2835097 2736269 6730189 6908881 -98828 0 X 0 1 X 1 1 1 X 321455 267437 1182414 1141675 86376 2999357 321455 267437 1182414 1141675 86376 2999357 2999357 2999357 1898158 1.00000 0.99870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 52258 52258 0 0 Due to Affiliates 257283 257283 442024 0 442024 42797 42797 484821 540852 0 540852 42797 42797 583649 Part IV, Line 2b: The balance represents loan escrow balances in aggregate collected monthly from the debtor to pay the real estate taxes and homeowners insurance on the property held as collateral. Part XI, Line 4b - Other Adjustments: Bad Debt Expense Reclassed to Expenses 42,797. Part XII, Line 4b - Other Adjustments: Bad Debt Expense Reclassed from Revenue 42,797. 1 Emergency Rental Assistance Payments 8 6069 Part I, Line 2: Recipients of grant awards are all required to operate within the limits of a signed agreement which incorporates all federal and state requirements of the original grant award. Reports and monitoring visits are made as required and necessary to assure compliance with grant requirements. 0 0 0 0 0 0 0 0 0 Kara Hay President 0 231666 0 0 0 0 0 17960 0 12676 0 262302 0 0 Denice Conary Chief Financial Officer 0 174014 0 0 0 0 0 14079 0 9771 0 197864 0 0 Part I, Line 3 The CEO's compensation is determined by Human Resources of the parent organization, utilizing an independent compensation survey which is completed every 3 years. Form 990, Part VI, Section B, line 11b A draft of the MaineStream Finance Form 990 is presented to the Finance Committee by Penquis Chief Financial Officer, Denice Conary. The Committee as designated by the Penquis Board of Directors unanimously approves the filing of the tax return. Form 990, Part VI, Section B, line 12c No person shall be at once an employee of the corporation and a member of the Board of Directors. No person may serve as a member of the Board of Directors while that person's husband, wife, child, sibling or parent is an employee of the corporation. Members of the Board of Directors may not apply for employment with the corporation, its subsidiaries or delegates. Board of Directors may not directly or indirectly solicit or accept gratuities of a monetary value from any recipient of the corporation's services or from any organization with which the corporation has a contractual relationship. Board of Directors may not have a financial conflict of interest with the agency. Board of Directors may not receive compensation for serving on the Board of Directors. Board of Directors members shall operate as an entity independent of staff employed by the agency. MaineStream Finance also has a specific Conflict of Interest Policy which further defines the corporate policy and related practices. Form 990, Part VI, Section B, line 15 The CEO's compensation is determined by Human Resources of the parent organization utilizing an independent compensation survey which is completed every 3 years. Form 990, Part VI, Section C, line 19 Governing documents, policies, and financial statements are made available to the public upon written request. The documents are copied and mailed to the requestor as soon as they are available. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: MaineStream Finance P.O. Box 1162 Bangor, ME 04402-1162 EIN: 01-0539222 MaineStream Finance is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Penquis CAP Inc PO Box 1162 Bangor ME 044021162 016023748 Administer health, housing and social service programs ME 501(c)(3) Line 7 N/A 0 Broadway Housing Inc PO Box 1162 Bangor ME 044021162 271744129 Promote and provide affordable housing for elderly residents ME 501(c)(3) Line 7 Penquis CAP Inc 0 Rape Response Services Inc PO Box 1162 Bangor ME 044021162 010441773 Provides services to sexual assault victims and education and prevention ME 501(c)(3) Line 7 Penquis CAP Inc 0 Penquis Development Inc PO Box 1162 Bangor ME 044021162 010541817 Promotes and develops affordable housing ME 501(c)(3) Line 10 Penquis CAP Inc 0 Penquis Mental Health Association PO Box 1162 Bangor ME 044021162 010323280 Maintenance and development of services to developmentally disabled ME 501(c)(3) Line 7 Penquis CAP Inc 0 Charlotte White Center PO Box 1162 Bangor ME 044021162 222582271 Maintenance and development of services to developmentally disabled ME 501(c)(3) Line 7 Penquis CAP Inc 0 Lakeview Senior Housing Associates LP PO Box 1162 Bangor ME 044021162 263701919 Promote and provide affordable housing ME N/A 0 0 Northside Family Housing Associates LP PO Box 1162 Bangor ME 044021162 203712024 Affordable housing ME N/A 0 0 Veazie Village Senior Housing Associates LP PO Box 1162 Bangor ME 044021162 205888602 Affordable housing ME N/A 0 0 Corundel Commons Senior Housing Associates LP PO Box 1162 Bangor ME 044021162 020677677 Affordable housing ME N/A 0 0 Straw Way Housing Associates LP PO Box 1162 Bangor ME 044021162 651221518 Affordable housing ME N/A 0 0 Leonard Lake Senior Housing Associates LP PO Box 1162 Bangor ME 044021162 383856675 Affordable housing ME N/A 0 0 Chamberlain Place Senior Housing LP PO Box 1162 Bangor ME 044021162 272396150 Affordable housing ME N/A 0 0 Ernst Manor Housing Associates LP PO Box 1162 Bangor ME 044021162 364770084 Affordable housing ME N/A 0 0 Grandview Housing Associates LP PO Box 1162 Bangor ME 044021162 824107760 Affordable housing ME N/A 0 0 Newton Place LP PO Box 1162 Bangor ME 044021162 843072833 Affordable housing ME N/A 0 0 Penquis Family Housing Associates LP PO Box 1162 Bangor ME 044021162 020677680 Affordable housing ME N/A 0 0 Penquis Housing Inc PO Box 1162 Bangor ME 044021162 205888483 Housing development, acquire financing ME N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0