MAINESTREAM FINANCE (EIN 010539222) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2000

Legal Domicile

Principal Officer

KARA HAY

Phone

2079733500

Tax Period

2023-10-01 to 2024-09-30

MAINESTREAM FINANCE is a 501(c)(3) with EIN 010539222, based in BANGOR, ME. Founded in 2000, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $615,035 in total revenue and $506,727 in total expenses, with net assets of $2,844,577.

Mission

TO PROMOTE COMMUNITY DEVELOPMENT AND PERFORM ALL FUNCTIONS PERMITTED AS COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, PRIMARILY THROUGH FINANCING ACTIVITIES, SERVING THE LOW INCOME TARGETED POPULATION OF THE STATE OF MAINE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $155,000

Program Service Revenue $457,960

Investment Income $0

Other Revenue $2,075

TOTAL REVENUE $615,035

Expense Breakdown

Grants Paid $0

Salaries & Benefits $78,913

Fundraising Expenses $0

Program Expenses $389,953

Other Expenses $427,814

TOTAL EXPENSES $506,727

Year-over-Year Comparison

	2023	2022	Change
Revenue	$615,035	$484,821	+0.3%
Expenses	$506,727	$583,649	-0.1%
Net Income	$108,308	$-98,828	-2.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$662,482

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAYLA DUNN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM BENNETT	DIRECTOR	1.00	Director	$0	$0	$0
BRENT FOLSTER	DIRECTOR	1.00	Director	$0	$0	$0
HARVEY GOSSELIN III	DIRECTOR	1.00	Director	$0	$0	$0
DANIELLE HEWES	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA HUSTON	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT KILCOLLINS	DIRECTOR (TERMED FEB 2024)	1.00	Director	$0	$0	$0
KARA HAY	CHIEF EXECUTIVE OFFICER	0.01	Officer	$0	$35,929	$285,136
DENICE CONARY	CHIEF FINANCIAL OFFICER	0.01	Officer	$0	$25,776	$209,560
HEIDI LEBLANC	CHIEF OPERATING OFFICER	0.01	Officer	$0	$2,636	$167,786

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$615,035	$506,727	$7,474,375	$108,308
2023	$484,821	$583,649	$6,908,881	$-98,828
2022	$1,442,234	$643,183	$6,730,189	$799,051
2021	$1,591,851	$701,970	$6,924,505	$889,881
2020	$659,119	$613,868	$5,933,338	$45,251
2019	$683,490	$857,279	$5,815,024	$-173,789
2018	$805,718	$899,406	$5,438,648	$-93,688

MAINESTREAM FINANCE