Coastal Enterprises Inc
- Assets
- $100.9m
- Revenue
- $43.5m
- Investments
- $0.0
- Employees
- 68
- Location
- Brunswick, ME
- Founding
- 10/1978
- Data as of
- 09/2021
- EIN
- 01-0347504
Organization Overview
Coastal Enterprises Inc is located in Brunswick, ME. The organization was established in 1978. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Coastal Enterprises Inc employed 68 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coastal Enterprises Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Coastal Enterprises Inc generated $43.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.7% each year . All expenses for the organization totaled $28.6m during the year ending 09/2021. While expenses have increased by 14.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GROW GOOD JOBS, ENVIRONMENTALLY SUSTAINABLE ENTERPRISES AND MORE BROADLY SHARED PROSPERITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HELP CREATE OPPORTUNITIES FOR COMMUNITIES AND INDIVIDUALS, ESPECIALLY THOSE WITH LOW INCOMES, BY DEVELOPING AND ADMINISTERING PROGRAMS AND MOBILIZING FUNDS TO STIMULATE ECONOMIC ACTIVITY THROUGH INVESTMENT, TECHNICAL ASSISTANCE, RESEARCH AND EDUCATION PRIMARILY IN SMALL BUSINESSES, SOCIAL SERVICES, AFFORDABLE HOUSING AND COMMUNITY FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elisabeth Biemann Chief Executive Officer | Officer | 40 | $194,899 |
Keith Bisson President | Officer | 39 | $186,465 |
David Wedick Chief Financial Officer | Officer | 39 | $176,177 |
Jesse Cole Svp, Information Technology | 40 | $135,827 | |
Elizabeth Rogers Svp, Communications | 40 | $112,040 | |
Jennifer Sporzynski Svp, Workforce & Business Development | 40 | $102,141 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Macdonald Page & Co Llc Vmac050 Audit & Tax Services | 9/29/18 | $132,984 |
Cohnreznik Llp Audit & Tax Services | 9/29/18 | $101,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,228,397 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,907,941 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,136,338 |
| Total Program Service Revenue | $2,885,122 |
| Investment income | $36,999 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,900 |
| Net Gain/Loss on Asset Sales | $1,114,083 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,453,136 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,950 |
| Grants and other assistance to domestic individuals. | $17,618,463 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $678,884 |
| Compensation of current officers, directors, key employees. | $296,512 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,445,739 |
| Pension plan accruals and contributions | $194,132 |
| Other employee benefits | $43,188 |
| Payroll taxes | $367,777 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $135,213 |
| Fees for services: Accounting | $144,928 |
| Fees for services: Lobbying | $14,200 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,736,693 |
| Advertising and promotion | $51,362 |
| Office expenses | $189,558 |
| Information technology | $266,606 |
| Royalties | $0 |
| Occupancy | $267,454 |
| Travel | $7,755 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $418 |
| Interest | $1,640,506 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $205,360 |
| Insurance | $730,161 |
| All other expenses | -$448,942 |
| Total functional expenses | $28,637,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,597,406 |
| Savings and temporary cash investments | $4,833 |
| Pledges and grants receivable | $3,402,970 |
| Accounts receivable, net | $13,531,656 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $39,343,220 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $162,004 |
| Net Land, buildings, and equipment | $6,587,025 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,248,557 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $100,877,671 |
| Accounts payable and accrued expenses | $1,294,455 |
| Grants payable | $0 |
| Deferred revenue | $290,756 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $299,455 |
| Secured mortgages and notes payable | $52,319,278 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,600,001 |
| Total liabilities | $59,803,945 |
| Net assets without donor restrictions | $31,504,705 |
| Net assets with donor restrictions | $9,569,021 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $100,877,671 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Coastal Enterprises Inc has recieved totaling $1,250,510.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: AWARD TO ACHIEVE ACCELERATED GROWTH AND INVESTMENT IN MAINE AGRICULTURE PROGRAMS | | $278,235 |
John T Gorman Foundation Portland, ME PURPOSE: TO SUPPORT THE LEWISTON-BASED CHILD CARE BUSINESS LAB | $150,000 |
F B Heron Foundation New Milford, CT PURPOSE: GENERAL SUPPORT | $150,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE DEVELOPMENT OF CONTENT AND ACTIVITIES DESIGNED TO EDUCATE POLICYMAKERS ABOUT THE BARRIERS TO ENTREPRENEURSHIP IN MAINE. 202001-7773 | $123,900 |
The Bill And Joan Alfond Foundation Portland, ME PURPOSE: CHILD CARE BUSINESS LAB EXPANSION IN THE RIM COUNTIES | $100,000 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Rural Economic Development | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harbor Homes Inc Nashua, NH | $29,802,318 | $34,009,669 |
Coastal Enterprises Inc Brunswick, ME | $100,877,671 | $43,453,136 |
New Communities Inc Westbrook, ME | $21,168,953 | $23,774,102 |
Avesta Housing Development Corporation Portland, ME | $69,411,595 | $13,114,873 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Housing Benefits Manchester, NH | $19,848,686 | $2,975,053 |
Community Housing Of Maine Inc Portland, ME | $35,247,004 | $3,832,747 |
Village Square Housing Corporation Portland, ME | $5,696,859 | $2,944,780 |
Diocesan Bureau Of Housing Deering Pavilion Portland, ME | $10,086,881 | $2,452,298 |
United States Catholic Conference Portland, ME | $5,797,365 | $1,499,768 |
Rural Housing For The Elderly Manchester, NH | $3,090,190 | $1,063,291 |
Berry Park Housing Corporation Portland, ME | $4,394,655 | $939,723 |