Saco Main Street Inc
Nonprofit profile at a glance
- EIN
- 142065342
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-T 2023
- Location
- Saco, ME, USA
- Phone
- 2072863546
- Rating
- 67
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $254,549
- Expenses
- $278,875
- Assets
- $29,857
- Liabilities
- $6,609
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- MELISSA MELIM (PRESIDENT)
People named in this filing
- JULIE BOLTON (DIRECTOR)
- AMELIA FOSTER (DIRECTOR)
- TORIE GORMAN (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Lessen the burden of local government by working with planning and development directors and local businesses to revitalize saco's main street and downtown
What it reported doing in 2024
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.
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 99% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 64
- Transparency & Controls: 92
- Accountability: 64
- Sustainability: 23
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71.3%; rating input score 71
- Program expense ratio: 65%; rating input score 65
- Fundraising efficiency: $6.51 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -9.6%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 0.11; rating input score 7; 7th percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -5.8% per year; rating input score 0; 16th percentile among comparable filings
- Revenue growth: -2.5% per year; rating input score 0; 15th percentile among comparable filings
- Asset growth: -17.4% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 71.3% of revenue deployed · 65% of spending went to programs
- Governance: 12 of 12 board members independent · 1 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $181K in reported program spending
- Leadership: top reported pay $0 · 12 people listed
- Consistency: 30 of 30 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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.
- High — Accountability: Governance controls: 5 of 6 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 28/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 23/100.
- High — Sustainability: Total-asset coverage ratio scored 7/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.