Program areas at MaineStream Finance
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.
Who funds MaineStream Finance
Grants from foundations and other nonprofits
Personnel at MaineStream Finance
| Name | Title | Compensation | Date of data |
|---|
| Kara Hay | President and Penquis Chief Executive Officer | $0 | 2024-02-26 |
| Heidi Leblanc | MSF Clerk and Penquis Chief Operating Officer | | 2024-02-26 |
| Denice Conary | Treasurer and Chief Financial Officer, Penquis Chief Financial Officer | $0 | 2024-02-26 |
| Geneva Libby | Vice Chair, Penquis Board Member, Piscataquis County Representative and Small Business Owner and Former MSF Client | $0 | 2024-02-26 |
| Kayla Dunn | Board Chair | $0 | 2022-09-30 |
| ...and 5 more key personnel |
Financials for MaineStream Finance
| Revenues | FYE 09/2022 | FYE 09/2021 | % Change |
|---|
| Total grants, contributions, etc. | $1,141,675 | $1,182,414 | -3.4% |
| Program services | $304,059 | $409,437 | -25.7% |
| Investment income and dividends | $0 | $0 | - |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $-3,500 | $0 | -999% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $1,442,234 | $1,591,851 | -9.4% |
Organizations like MaineStream Finance
| Organization | Type | Location | Revenue |
|---|
| Grow America Fund | 501(c)(3) | New York, NY | $3,801,712 |
| South Carolina Community Loan Fund | 501(c)(3) | Charleston, SC | $3,563,181 |
| Civic New Markets Support Corporation Ii | 501(c)(3) | New York, NY | $958,135 |
| Community Development Financial Institution - Tohono O'odham Nation | 501(c)(3) | Sells, AZ | $755,697 |
| Cofecc | 501(c)(3) | San Juan, PR | $779,991 |
| North Philadelphia Financial Partnership Neighborhood Progress Fund | 501(c)(3) | Philadelphia, PA | $1,165,501 |
| Finance Fund Capital Corporation | 501(c)(3) | Columbus, OH | $4,625,312 |
| Dorchester Bay Neighborhood Loan Fund | 501(c)(3) | Dorchester, MA | $1,440,165 |
| Florida Opportunity Fund | 501(c)(3) | Orlando, FL | $3,329,239 |
| PACE Finance Corporation | 501(c)(3) | Los Angeles, CA | $4,424,340 |
Data update history
February 27, 2024
Updated personnel
Identified 1 new personnel
October 10, 2023
Updated personnel
Identified 5 new personnel
October 9, 2023
Posted financials
Added Form 990 for fiscal year 2022
September 28, 2023
Used new vendors
Identified 1 new vendor, including
August 10, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Business and community development organizationsCommunity Development Financial InstitutionsChapter / child organizationsCharities
Issues
Community improvementEconomic developmentBusiness and industry
Characteristics
Receives government fundingTax deductible donationsNo full-time employees
General information
- Address
- PO Box 1162
- Bangor, ME 04402
- Metro area
- Bangor, ME
- County
- Penobscot County, ME
- Website URL
- mainestreamfinance.org/Â
- Phone
- (207) 973-3500
IRS details
- EIN
- 01-0539222
- Fiscal year end
- September
- Taxreturn type
- Form 990
- Year formed
- 2000
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S31: Urban, Community Economic Development
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Subordinate organization
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