Organizations Filed Purposes:
To promote community development and perform all functions permitted as community development financial institution, primarily through financing activities, servicing the low income targeted population of the state of Maine.
ECONOMIC DEVELOPMENT: The economic development program of MaineStream Finance provides loans, education, and services to assist individuals to start small businesses and assist existing small businesses to grow. The Incubator Without Walls program is a comprehensive training program that helps entrepreneurs advance their business through increased knowledge and skills in a multitude of business areas. The program centers around group networking among participants rather than 1 on 1 business plan preparation or classroom work. The program includes pre-loan technical assistance, such as writing a business plan, cash flow analysis preparation, and, after the loan has been processed, ongoing support for running a small business. Business 101 classes are offered to prospective self-employed individuals and covers the basics of what it takes to start up a new micro-business. Classes include financial review, assistance with a business plan, foreclosure, debt management, budget and business cash flow counseling. Those businesses that are currently in operation are encouraged to attend the Incubator Without Walls program for classroom and networking support. 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.
HOMEBUYER EDUCATION: Classes 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.
LOAN SERVICING: MaineStream Finance 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.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Christopher Linder | Chief Executive Officer | 40 | $0 |
| Denice Conary | Chief Financial Officer | 0 | $0 |
| Kara Hay | President | 0 | $0 |
| Scott Kilcollins | Director | 1 | $0 |
| Harvey Gosselin | Director | 1 | $0 |
| Samantha Hill | Director | 1 | $0 |
| Adam Robertson | Director | 1 | $0 |
| Susan Hammond | Director | 1 | $0 |
| Geneva Libby | Vice Chair | 1 | $0 |
| Michelle Cobb | Chair | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202012169349301061_public.xml