Coastal Economic Development Corporation

Organization Overview

Coastal Economic Development Corporation is located in Raymond, NH. The organization was established in 2000. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coastal 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, Coastal Economic Development Corporation generated $189.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.2%) each year. All expenses for the organization totaled $150.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (17.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ENCOURAGE AND FOSTER REGIONAL ECONOMIC DEVELOPMENT BY PROVIDING GAP FINANCING & TECHNICAL ASSISTANCE TO BUSINESSES SO THAT THEY MAY EXPAND OR RETAIN EMPLOYMENT, PRIMARILY FOR THE BENEFIT OF EMPLOYEES FROM LOW TO MODERATE-INCOME HOUSEHOLDS.

Describe the Organization's Program Activity:

GAP FINANCING TO BUSINESSES SO THAT THEY CAN HIRE AND/OR RETAIN EMPLOYEES.


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Board, Officers & Key Employees

Name (title)Compensation
Daniel Gray
Executive Director
$58,251
Daniel Dolan
Vice Chair
$0
Ellen Lavin
Treasurer
$0
Anne Russell
Chair
$0
Stephen Falzone
Board Member
$0
Steve Witt
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $20,000
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$20,000
Total Program Service Revenue$110,004
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $19,207
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $189,241

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Coastal Economic Development Corporation has recieved totaling $29,000.

Awarding OrganizationAmount
$19,000
New Hampshire Charitable Foundation

Concord, NH

PURPOSE: Support the second year of the Career Pathway Partnership

$10,000
View Grant Recipient Profile

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