Coast Guard Mutual Assistance Incorporated
- Assets
- $53.6m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 10
- Location
- Arlington, VA
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 31-1801931
Organization Overview
Coast Guard Mutual Assistance Incorporated is located in Arlington, VA. The organization was established in 2002. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Coast Guard Mutual Assistance Incorporated employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coast Guard Mutual Assistance Incorporated 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, Coast Guard Mutual Assistance Incorporated generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $5.8m during the year ending 12/2021. While expenses have increased by 16.2% 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 PROVIDE INTEREST-FREE LOANS AND GRANTS TO MEMBERS OF THE COAST GUARD FAMILY IN FINANCIAL NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISASTER AND EMERGENCIES - CGMA SUPPORTS WHAT IS NOT COVERED BY INSURANCE AFTER A DISASTER, EMERGENCY TRAVEL, UNEXPECTED REPAIRS TO HOMES OR VEHICLES, LOSSES (FUNDS, PROPERTY, OR IDENTITY), PAY ISSUES, BILLS AND EXPENSES, PRIVATION, AND OTHER CIRCUMSTANCES. THESE SHORT-TERM SITUATIONS ARE OFTEN OUT OF THE CONTROL OF OUR CLIENTS, POSE A SERIOUS FINANCIAL OR PERSONAL HARDSHIP, AND REQUIRE URGENT HELP. $1,990,170 IN INTEREST-FREE LOANS IS NOT ACCOUNTED FOR IN THIS LINE ITEM.
EDUCATION - CGMA FOSTERS OUR CLIENTS' LONG-TERM FINANCIAL WELL-BEING THROUGH EDUCATION, INCLUDING SUPPLEMENTAL EDUCATION GRANTS, EDUCATION LOANS, STAFFORD LOAN FEE REIMBURSEMENT, FINANCIAL COUNSELING, TUTORING, AND OTHER EFFORTS DESIGNED TO PROMOTE FINANCIAL RESILIENCE. $105,832 IN INTEREST-FREE LOANS IS NOT ACCOUNTED FOR IN THIS LINE ITEM.
FAMILY SUPPORT - CGMA PROVIDES HELP FOR UNEXPECTED MEDICAL AND DENTAL EXPENSES, HOUSING ASSISTANCE (RENTAL ASSISTANCE, CLOSING COSTS, DEPOSITS, ETC.), FUNERAL COSTS, SERVICE ANIMALS, PET EXPENSES, COSTS TO SUPPORT EXCEPTIONAL FAMILY MEMBERS (SPECIAL NEEDS), ADOPTION LOANS AND GRANTS, RESPITE CARE, LAYETTES, AND OTHER FAMILY NEEDS. $1,158,925 IN INTEREST-FREE LOANS IS NOT ACCOUNTED FOR IN THIS LINE ITEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cari Thomas Chief Executive Officer | Officer | 40 | $184,016 |
Sean Fennell Chief Operations Officer | Officer | 40 | $136,204 |
Sara Martin Chief Financial Officer | Officer | 40 | $130,124 |
Alena Howard Chief Development Officer | Officer | 40 | $126,544 |
Adm Karl L Schultz Chairman | OfficerTrustee | 1 | $0 |
Bosn4 John C Baker Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Process Point Consulting Enterprise Software And Security | 12/30/16 | $349,370 |
Gravitate Information Technology | 12/30/16 | $208,664 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,142 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,389,584 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,402,726 |
| Total Program Service Revenue | $0 |
| Investment income | $743,462 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,125,585 |
| Net Income from Fundraising Events | $11,346 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,292,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,369,804 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $576,888 |
| Compensation of current officers, directors, key employees. | $155,760 |
| Compensation to disqualified persons | $408,467 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $42,808 |
| Other employee benefits | $158,479 |
| Payroll taxes | $72,671 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $863 |
| Fees for services: Accounting | $25,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $19,693 |
| Fees for services: Investment Management | $133,021 |
| Fees for services: Other | $33,074 |
| Advertising and promotion | $166,370 |
| Office expenses | $61,599 |
| Information technology | $71,448 |
| Royalties | $0 |
| Occupancy | $132,698 |
| Travel | $12,614 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,301 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $251,803 |
| Insurance | $10,157 |
| All other expenses | $2,080 |
| Total functional expenses | $5,807,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $575,278 |
| Savings and temporary cash investments | $478,924 |
| Pledges and grants receivable | $717,363 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,842,446 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,024 |
| Net Land, buildings, and equipment | $11,907 |
| Investments—publicly traded securities | $47,532,729 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,435,280 |
| Total assets | $53,600,951 |
| Accounts payable and accrued expenses | $112,260 |
| Grants payable | $0 |
| 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 | $77,551 |
| Total liabilities | $189,811 |
| Net assets without donor restrictions | $36,227,630 |
| Net assets with donor restrictions | $17,183,510 |
| 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 | $53,600,951 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Coast Guard Mutual Assistance Incorporated has recieved totaling $200.
| Awarding Organization | Amount |
|---|---|
Koch Family Foundation Inc Annapolis, MD PURPOSE: CHARITABLE SUPPORT | $200 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Air Force Aid Society Inc Arlington, VA | $262,482,165 | $46,086,376 |
American Legion Bowling Green, KY | $1,050,755 | $11,898,405 |
The National Military Family Association Alexandria, VA | $8,448,648 | $9,411,080 |
Vietnam Veterans Of America Inc Silver Spring, MD | $22,711,920 | $10,930,074 |
United Service Organizations Inc Fort Myer, VA | $0 | $2,240,114 |
The Independence Fund Inc Charlotte, NC | $7,812,789 | $8,567,110 |
Marine Corps Association Quantico, VA | $17,818,262 | $7,455,788 |
Armed Services Mutual Benefit Association Goodlettsville, TN | $55,566,131 | $7,665,042 |
U S Naval Sea Cadet Corps Arlington, VA | $6,985,927 | $8,234,482 |
Women In Military Service For America Memorial Foundation Inc Arlington, VA | $11,722,569 | $5,876,595 |
Caring For Military Families The Elizabeth Dole Foundation Washington, DC | $8,548,001 | $7,173,277 |
Young Marines Of The Marine Corps League Dumfries, VA | $6,204,129 | $6,595,765 |