Nonprofit · EIN 01-0409428
SCARBOROUGH ECONOMIC DEVELOPMENT CORP
Tax-exempt · SCARBOROUGH, ME 04070
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $324,177 | $338,392 | -$14,215 | $53,233 | $80,597 | -$27,364 |
| June 30, 2024 | 990 | $296,372 | $296,230 | $142 | $67,370 | $18,867 | $48,503 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $312,026
- of which government grants
- $312,026
- Program service revenue
- $12,106
- Investment income
- $45
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $125,380
- Other salaries and wages
- $65,710
- Salaries, compensation and benefits (total)
- $257,200
- Professional fundraising fees
- $0
- Accounting fees
- $9,000
- Occupancy
- $9,595
- Travel
- $887
- Depreciation
- $1,202
- Program services (functional)
- $289,716
- Management and general (functional)
- $48,676
Balance sheet and other
- Total assets, start of year
- $67,370
- Total assets, end of year
- $53,233
- Total liabilities, end of year
- $80,597
- Net assets, end of year
- -$27,364
- Land, buildings and equipment
- $2,659
- Net assets without donor restrictions
- -$27,364
- Gross receipts
- $324,177
- Employees
- 2
- Volunteers
- 0
- Year formed
- 1985
- State of legal domicile
- ME
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN MARTIN | EXECUTIVE DIRECTOR Officer | 40 | $127,846 | $28,169 |
| JONATHAN CRASNICK | CHAIRPERSON Trustee or director, Officer | 2 | $0 | $0 |
| JAMES HARTLEY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| JASON PERKINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HELLEN CELLA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALLEN PAUL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRAVIS KENNEDY | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KAREN MARTIN | EXECUTIVE DI Trustee or director, Officer | 40 | $99,258 | $34,204 |
| JONATHAN CRASNICK | CHAIRPERSON Trustee or director, Officer | 2 | $0 | $0 |
| JAMES HARTLEY | TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| TRAVIS KENNEDY | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| RICK SHINAY | SECRETARY/CL Trustee or director, Officer | 2 | $0 | $0 |
| JASON PERKINS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HELLEN CELLA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALLEN PAUL | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 6487, SCARBOROUGH, ME 04070-6487
- Principal officer (990 for 2024)
- KAREN MARTIN, PO BOX 6487, SCARBOROUGH, ME 04070
- Signed the 990
- KAREN MARTIN, EXECUTIVE DIRECTOR
- Phone
- (207) 883-4893
- Website
- HTTPS://SEDCOMAINE.COM/
- Return prepared by
- CBIZ ADVISORS LLC
Mission
THE SCARBOROUGH ECONOMIC DEVELOPMENT CORPORATION (SEDCO) DEVELOPS, SUPPORTS AND PROMOTES SUSTAINABLE ECONOMIC DEVELOPMENT PRACTICES LEADING TO A HEALTHY, DIVERSE AND RESILIENT LOCAL ECONOMY FOR THE SCARBOROUGH COMMUNITY.
Program accomplishments
- IN ORDER TO FULFULL THE MISSION, SEDCO 1.DEVELOPS AND ADVOCATES FOR ECONOMIC POLICIES AND PROGRAMS WHICH SUPPORT THE TOWN'S COMPREHENSIVE PLAN 2.ASSISTS IN THE ATTRACTION, ESTABLISHMENT, RETENTION AND EXPANSION OF BUSINESSES IN SCARBOROUGH; 3.PROVIDES CONFIDENTIAL ASSISTANCE TO ANY BUSINESS CONSIDERING STARTING, RELOCATING OR EXPANDING WITHIN THE TOWN LIMITS; 4.MAINTAINS AND GROWS A COMPREHENSIVE INTELLIGENCE SYSTEM FOR USE BY BOTH THE PRIVATE AND PUBLIC SECTORS; 5.ASSESSES THE ECONOMIC COMPETITIVENESS OF THE TOWN; 6.CULTIVATES A NETWORK OF LOCAL, REGIONAL, STATE, FEDERAL AND INTERNATIONAL RESOURCES WHICH CAN ASSIST LOCAL BUSINESSES AND MUNICIPAL OFFICIALS; AND 7.ASSISTS TOWN DEPARTMENTS IN PLANNING AND IMPLEMENTING ECONOMIC DEVELOPMENT POLICIES.Expenses $289,716 · revenue $12,106
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 01-0409428
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1988
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31Z)
- Assets (IRS master file)
- $53,233
- Income (IRS master file)
- $324,177
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $324,177 | $338,392 | $53,233 | IRS |
| 990 | June 2024 | $296,372 | $296,230 | $67,370 | IRS |
| 990 | June 2023 | $281,178 | $279,838 | $61,698 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-0409428).
Questions about SCARBOROUGH ECONOMIC DEVELOPMENT CORP
- What is the EIN of SCARBOROUGH ECONOMIC DEVELOPMENT CORP?
- The employer identification number (EIN) of SCARBOROUGH ECONOMIC DEVELOPMENT CORP is 01-0409428.
- Is SCARBOROUGH ECONOMIC DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to SCARBOROUGH ECONOMIC DEVELOPMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SCARBOROUGH ECONOMIC DEVELOPMENT CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SCARBOROUGH ECONOMIC DEVELOPMENT CORP due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SCARBOROUGH ECONOMIC DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of SCARBOROUGH ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended June 30, 2025 names KAREN MARTIN.
- Who are the officers and directors of SCARBOROUGH ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended June 30, 2025 lists 7 people; 1 received compensation from the organization, the highest $127,846 (KAREN MARTIN, EXECUTIVE DIRECTOR).
- How much revenue does SCARBOROUGH ECONOMIC DEVELOPMENT CORP have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $324,177, expenses of $338,392 and total assets of $53,233 at year end.
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- SPURWINK SERVICES INCORPORATED EIN 01-0319802 · last filed 990 for 2025
- MAINE LIFE CARE RETIREMENT COMMUNITY INC EIN 01-0496258 · last filed 990 for 2024
- HOSPICE OF SOUTHERN MAINE EIN 01-0540180 · last filed 990 for 2025
All nonprofits in SCARBOROUGH · Maine · Community improvement and capacity building