MAINESTREAM FINANCE

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Financial Vulnerability Assessment (Tuckman-Chang)

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, founded in 2000, is a small nonprofit in the Community Improvement sector that reported $615K in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $108K, a strong 18% operating margin.

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.

Program Service Accomplishments

Program 1

Expenses: $389,953 Revenue: $457,960

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 FINANCE 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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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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