SACO MAIN STREET INC

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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

2002

Legal Domicile

Principal Officer

MELISSA MELIM

Phone

2072863546

Tax Period

2023-01-01 to 2023-12-31

SACO MAIN STREET INC, founded in 2002, is a small nonprofit that reported $197K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $32K, a strong 16% operating margin.

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

Program Service Accomplishments

Program 1

Expenses: $103,196 Revenue: $20,163

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.

Program 2

Expenses: $5,556 Revenue: $32,904

THE ORGANIZATION OPENED THE SACO SCOOP IN 2018 ON MAIN STREET AS A COMMUNITY SPACE THAT SERVES ICE CREAM TO THE GENERAL PUBLIC, BUT ALSO HOSTS COMMUNITY EVENTS, OFFERS EDUCATIONAL SPACE FOR...

THE ORGANIZATION OPENED THE SACO SCOOP IN 2018 ON MAIN STREET AS A COMMUNITY SPACE THAT SERVES ICE CREAM TO THE GENERAL PUBLIC, BUT ALSO HOSTS COMMUNITY EVENTS, OFFERS EDUCATIONAL SPACE FOR CHILDREN'S ACTIVITIES, PROVIDES FREE MEETING SPACE FOR LOCAL GROUPS (SUCH AS SACO AGE FRIENDLY, ECONOMIC VITALITY COMMITTEES, GAME NIGHTS FOR OTHER NON-PROFIT GROUPS, ETC.)THE SACO SCOOP ALSO FOCUSES ON WORKFORCE DEVELOPMENT BY EMPLOYING HIGH SCHOOL STUDENTS AND PROVIDING OPPORTUNITIES FOR THEM TO CREATE BUSINESS MODEL TEAMS, LEARN BUSINESS PLANNING AND MARKETING,AS WELL AS THE VALUE OF COMMUNITY ENGAGEMENT. AS A RESULT OF ITS OPENING, THE SACO SCOOP'S PRESENCE HAS SERVED AS AN ECONOMIC DRIVER BY INCREASING FOOT TRAFFIC TO THE DOWNTOWN AND THROUGH CONTINUED PROMOTION OF OTHER BUSINESSES, SERVICES AND AGENCIES.

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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 $112,342

Program Service Revenue $53,067

Investment Income $313

Other Revenue $31,281

TOTAL REVENUE $197,003

Expense Breakdown

Grants Paid $0

Salaries & Benefits $89,732

Fundraising Expenses $8,993

Program Expenses $108,752

Other Expenses $74,889

TOTAL EXPENSES $164,621

Year-over-Year Comparison

	2023	2022	Change
Revenue	$197,003	$317,996	-0.4%
Expenses	$164,621	$366,401	-0.6%
Net Income	$32,382	$-48,405	-1.7%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE BOLTON	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL BURMAN	DIRECTOR	1.00	Director	$0	$0	$0
AMELIA FOSTER	DIRECTOR	1.00	Director	$0	$0	$0
TORIE GORMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
BETH GUMMERE	TREASURER	2.00	Officer Director	$0	$0	$0
MELISSA MELIM	PRESIDENT	2.00	Officer Director	$0	$0	$0
STEFA NORMANTAS	DIRECTOR	1.00	Director	$0	$0	$0
BRAD PAUL	DIRECTOR	1.00	Director	$0	$0	$0
JIM SWAIN	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS TALBOT	VICE PRES	1.00	Officer Director	$0	$0	$0
WENDY WEILER	DIRECTOR	1.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2023	$197,003	$164,621	$57,308	$32,382
2022	$317,996	$366,401	$53,676	$-48,405
2021	$358,024	$361,252	$85,199	$-3,228
2020	$313,497	$304,935	$82,707	$8,562
2019	$241,149	$247,141	$87,400	$-5,992