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Saco Main Street Inc

EIN 14-2065342 · Saco, ME

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

LegitimacyPassesRegistration and standingFinancial healthFair60 out of 100GovernanceWeak48 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

LESSEN THE BURDEN OF LOCAL GOVERNMENT BY WORKING WITH PLANNING AND DEVELOPMENT DIRECTORS AND LOCAL BUSINESSES TO REVITALIZE SACO'S MAIN STREET AND DOWNTOWN

Income
$254,549
Spending
$278,875
Spent on programs
65%
Reserves
1 months of spending
Largest source of income
government grants, 52%
Employees
4
Volunteers
30

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 60 out of 100.

  • Reserves

    10 of 35

    Spendable reserves would cover 1.0 months of spending.

  • Debt

    16 of 20

    It owes 22% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 10% of income.

  • Income trend

    15 of 15

    Income rose 29% on the year before.

  • Spending floor

    15 of 15

    65% of spending went to programs and raising each dollar of donations cost 15 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Weak: 48 out of 100.

  • Independent board

    25 of 25

    12 of 12 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed 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 December 31, 2024, 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. $181,395 spent. 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. 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.

Source: Form 990 for the year ending December 31, 2024, 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 September 7, 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 September 30, 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 September 10, 2026.

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

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

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

    Recognized by the IRS since December 2004.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 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 7, 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.