Heart of Biddeford

Nonprofit profile at a glance

EIN
342003673
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Biddeford, ME, USA
Phone
2072848520
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$607,757
Expenses
$614,284
Assets
$178,219
Liabilities
$150,286

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • SCOTT THIBEAU (PRESIDENT)

Highest reported compensation

  • DELILAH POUPORE (EXECUTIVE DI): $62,226 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The heart of biddeford, in partnership with the city of biddeford, the business community, property owners, and residents, fosters economic development and improves the downtown and quality of life within its boundaries by supporting existing businesses, attracting new businesses, promoting the downtown through events, and working to beautify the urban core

What it reported doing in 2024

Fostered economic development and improved the downtown and quality of life within its boundaries by supporting existing businesses, attracting new businesses, promoting the downtown through events, and working to beautify the urban core.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 75
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.9%; rating input score 95
  • Program expense ratio: 93.9%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.3%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.29; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 12.6% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 12.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 15.2% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 94.9% of revenue deployed · 93.9% of spending went to programs
  • Governance: 14 of 15 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $577K in reported program spending
  • Leadership: top reported pay $62K · 15 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.