Coos Economic Development Corporation
- Assets
- $2.5m
- Revenue
- $907.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Lancaster, NH
- Founding
- 01/1997
- Data as of
- 12/2021
- EIN
- 02-0493344
Organization Overview
Coos Economic Development Corporation is located in Lancaster, NH. The organization was established in 1997. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Coos Economic Development Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coos Economic Development Corporation 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 12/2021, Coos Economic Development Corporation generated $907.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $264.4k during the year ending 12/2021. While expenses have increased by 10.5% per year over the past 7 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
TO PROMOTE ECONOMIC GROWTH THAT FOSTERS A STRONG AND DIVERSE WORKFORCE, SUSTAINABLE EMPLOYMENT AND A THRIVING BUSINESS ENVIRONMENT AS THE REGIONAL DEVELOPMENT CORPORATION OF COOS COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EFFORTS TO PROMOTE ECONOMIC GROWTH THAT FOSTERS A STRONG AND DIVERSE WORKFORCE, SUSTAINABLE EMPLOYMENT AND THRIVING BUSINESS ENVIRONMENTS THROUGHOUT COOS COUNTY.
CONTINUATION OF THE NORTH COUNTRY CELL SERVICE INITIATIVE PROJECT THAT BENEFITS BOTH THE PUBLIC AND PRIVATE SECTORS TO BRING EXPANDED AND IMPROVED CELLULAR AND HIGH-SPEED BROADBAND SERVICE TO UNDERSERVED AREAS OF COOS COUNTY.
CONTINUATION OF A 2006 CDBG GRANT PROJECT WHICH PURCHASED A WOOD-BURNING TURBINE FOR THE PURPOSE OF CREATING JOBS AND PROVIDING LOWER COST ENERGY FOR A FURNITURE MANUFACTURING FACILITY.
OTHER MINOR PROGRAMS WITHIN ORGANIZATION THAT SUPPORT ITS MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Hoffman Vice Preside | OfficerTrustee | 1.5 | $0 |
Scott Colby Secretary | OfficerTrustee | 1.25 | $0 |
Glenn Coppelman President | OfficerTrustee | 2.25 | $0 |
Carol Miller Treasurer | OfficerTrustee | 2 | $0 |
Tamara Roberge Director | Trustee | 1.25 | $0 |
Dennis Thompson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $728,764 |
| Government grants | $109,945 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $868,459 |
| Total Program Service Revenue | $48,008 |
| Investment income | $818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,161 |
| Net Income from Fundraising Events | $3,827 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $906,951 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $40,687 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $81,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,202 |
| Payroll taxes | $6,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,705 |
| Fees for services: Accounting | $6,661 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $656 |
| Advertising and promotion | $9,050 |
| Office expenses | $793 |
| Information technology | $2,744 |
| Royalties | $0 |
| Occupancy | $10,319 |
| Travel | $1,106 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,500 |
| Interest | $2,706 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,647 |
| Insurance | $3,351 |
| All other expenses | -$2,242 |
| Total functional expenses | $264,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,364,614 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $778 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $699,143 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $462,824 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,527,359 |
| Accounts payable and accrued expenses | $204 |
| Grants payable | $7,089 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $234,586 |
| Total liabilities | $241,879 |
| Net assets without donor restrictions | $1,272,260 |
| Net assets with donor restrictions | $1,013,220 |
| 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 | $2,527,359 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Coos Economic Development Corporation has recieved totaling $58,000.
| Awarding Organization | Amount |
|---|---|
Belknap County Economic Development Council Inc Laconia, NH PURPOSE: MICROENTERPRISE TECHNICAL ASSISTANCE | $29,000 |
| $19,000 | |
New Hampshire Charitable Foundation Concord, NH PURPOSE: For operating support | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eastern Maine Development Corporation Bangor, ME | $11,518,769 | $64,676,194 |
Northern Maine Development Commission Inc Caribou, ME | $20,810,299 | $32,269,814 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
The Resource Inc For Community And Economic Development North Eastham, MA | $2,064,773 | $3,152,233 |
New England Council Inc Boston, MA | $13,389,867 | $3,995,081 |
Main South Community Development Corporation Worcester, MA | $15,010,122 | $3,407,145 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Center For Economic Democracy Boston, MA | $11,558,653 | $3,979,312 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Central Square Business Improvement District Inc Cambridge, MA | $657,722 | $2,519,554 |