BIDDEFORD SACO AREA ECONOMIC DEVELOPMENT CORP | SOUTHERN MAINE FINANCE AGENCY

BIDDEFORD, ME | York County
Economic Development

Overview

BIDDEFORD SACO AREA ECONOMIC DEVELOPMENT CORP | SOUTHERN MAINE FINANCE AGENCY
01-0472964
20 POMERLEAU STREET SUITE 300
BIDDEFORD, ME 04005
York County

Mission Statement info

This nonprofit has not reported a mission statement.

CRA Category info
  • Economic Development
Nonprofit location info
  • Opportunity Zone
Awards & Certifications info
  • CDFI Organization
  • CDFI Award Recipient
Founded info
Not reported
Total Employees info
Not reported
Total Volunteers info
Not reported
Nonprofit Classification (NTEE Code) info
S20

S - Community Improvement, Capacity Building

Community & Neighborhood Development

Organizations that focus broadly on strengthening, unifying and building the economic, cultural, educational and social services of an urban community or neighborhood. Use this code for community and neighborhood improvement organizations other than those specified below.

IRS Activity Codes info
994
Uncoded
400
Area development, redevelopment of renewal
402
Other activity aimed at combating community deterioration
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Awards & Certifications info
Community Development Financial Institution info
Date Certified info
10/25/2013
Native American CDFI info
N
Financial Institution Type info
Loan Fund
Community Development Financial Institution Award Recipient info
Most Recent CDFI Award info
2000
$32,000
CDFI Technical Assistance
1999
$610,000
CDFI Financial Assistance
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$828.9K
Revenue
$828.9K
Assets
$7.9M
Exempt Ruling Date info
1993-08
Deductibility Status info
Deductible
Last Tax Filing info
2020
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
ME
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

Nonprofit Location

Physical Address info
20 POMERLEAU STREET SUITE 300
BIDDEFORD, ME 04005
York County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
38860
MSA/MD info
23
State info
031
County info
0251.00
Tract info
Middle
Income Level info
Core-Based Statistical Area info
38860 - Portland-South Portland, ME
Combined Statistical Area info
438 - Portland-Lewiston-South Portland, ME
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 9.15%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info

Market Data

Census Tract County
0251.00 York County
Population
Total Population 3,933 206,074
Total Households 1,549 86,919
Income
Median Family Income (Census*) $80,153 $68,932
Median Family Income (2022 FFIEC est.) $101,600 N/A
Tract Income Percentage 89.07% N/A
Below Poverty Level 2.7% 7.4%
Unemployment Level 1.6% 3.5%
Housing
Total Housing Units 1,639 111,067
Total Owner-Occupied Units 67.8% 74.4%
Total Renter-Occupied Units 26.7% 25.6%
Total Vacant Units 5.5% 6.1%
* Census tract income based on 2020 Census estimated data; County income based on 2020 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

15
Total Voting Members
in Governing Body
info
15
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
William O Armitage II
Executive Director
(207) 282-1748
Principal Officer info
William O Armitage II
findCRA Profile Owner
Nonprofit profile has not yet been claimed
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.