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Passes our checks

Mainestream Finance

EIN 01-0539222 · Bangor, ME

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak49 out of 100GovernanceGood88 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Only 46% of its spending went to programs.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

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.

Income
$504,682
Spending
$558,012
Spent on programs
46%
Reserves
38.3 months of spending
Largest source of income
fees for its services, 96%
Employees
0
Volunteers
13
Highest pay
$305,093, chief executive officer

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 49 out of 100. Higher than 18% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 38.3 months of spending.

  • Debt

    5 of 20

    It owes 64% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 11% of income.

  • Income trend

    5 of 15

    Income fell 18% on the year before.

  • Spending floor

    0 of 15

    46% of spending went to programs.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 88 out of 100. Higher than 72% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    18 of 25

    4 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $257,221 spent. 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.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since March 2001.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.