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Nonprofiteer
← COASTAL ENTERPRISES INC

Form 990 for tax year 2022

Filed by COASTAL ENTERPRISES INC.

Totals

Total revenue
$22,641,314
Total expenses
$18,685,864
Contributions and grants received
$13,666,377
Grants paid
$4,326,635
Program service revenue
$3,931,407
Investment income
$3,874,518
Other revenue
$1,169,012
Total assets, end of year
$125,867,837
Total liabilities, end of year
$82,323,697
Net assets or fund balances, end of year
$43,544,140
Program services expenses (Part IX)
$14,396,116
Management and general expenses
$3,968,820
Fundraising expenses
$320,928
Program service expenses (Part III)
$14,396,116

Program services were 77.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $74,545

  • 1e · Government grants (contributions)

    $4,302,120

  • 1f · All other contributions, gifts and grants

    $9,289,712

  • 2a · Program service revenue: INTEREST ON LOAN

    total $3,561,622 · related or exempt $3,561,622

  • 2b · Program service revenue: FEE INCOME

    total $369,785 · related or exempt $369,785

  • 3 · Investment income

    total $550,713 · excluded $550,713

  • 7a · Gross sales of assets other than inventory

    securities $707,846 · other assets $2,615,959

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $707,846 · other assets $2,615,959

  • 7d · Net gain or loss

    total $3,323,805 · excluded $3,323,805

  • 11a · Other revenue: MANAGEMENT FEE

    total $816,257 · related or exempt $816,257

  • 11b · Other revenue: BAD DEBT RECOVERY

    total $349,612 · related or exempt $349,612

  • 11d · All other revenue

    total $3,143 · related or exempt $3,143

  • 11e · Other revenue, total

    $1,169,012

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,569,485 · program services $3,569,485

  • 2 · Grants to domestic individuals

    total $757,150 · program services $757,150

  • 5 · Compensation of officers, directors and key employees

    total $653,428 · program services $450,614 · management and general $179,817 · fundraising $22,997

  • 7 · Other salaries and wages

    total $5,562,353 · program services $3,835,875 · management and general $1,530,726 · fundraising $195,752

  • 8 · Pension plan contributions

    total $234,620 · program services $161,797 · management and general $64,566 · fundraising $8,257

  • 9 · Other employee benefits

    total $95,149 · program services $65,615 · management and general $26,186 · fundraising $3,348

  • 10 · Payroll taxes

    total $446,434 · program services $307,867 · management and general $122,856 · fundraising $15,711

  • 11a · Fees: management

    total $475,606 · program services $92,647 · management and general $382,959

  • 11b · Fees: legal

    total $135,421 · program services $26,380 · management and general $109,041

  • 11c · Fees: accounting

    total $286,438 · program services $55,798 · management and general $230,640

  • 11d · Fees: lobbying

    total $26,500 · program services $26,500

  • 11g · Fees: other

    total $1,370,119 · program services $525,976 · management and general $807,486 · fundraising $36,657

  • 12 · Advertising and promotion

    total $122,051 · program services $56,931 · management and general $39,869 · fundraising $25,251

  • 13 · Office expenses

    total $184,237 · program services $145,694 · management and general $38,475 · fundraising $68

  • 14 · Information technology

    total $392,734 · program services $310,574 · management and general $82,016 · fundraising $144

  • 16 · Occupancy

    total $270,090 · program services $227,228 · management and general $30,698 · fundraising $12,164

  • 17 · Travel

    total $162,997 · program services $128,898 · management and general $34,039 · fundraising $60

  • 19 · Conferences, conventions and meetings

    total $2,509 · program services $1,984 · management and general $524 · fundraising $1

  • 20 · Interest

    total $2,212,064 · program services $2,212,064

  • 22 · Depreciation, depletion and amortization

    total $215,063 · program services $170,072 · management and general $44,912 · fundraising $79

  • 23 · Insurance

    total $999,412 · program services $790,334 · management and general $208,710 · fundraising $368

  • 24a · Other expenses: LOAN LOSSES

    total $246,023 · program services $246,023

  • 24b · Other expenses: STAFF DEVELOPMENT

    total $83,253 · program services $65,836 · management and general $17,386 · fundraising $31

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $39,936 · program services $31,581 · management and general $8,340 · fundraising $15

  • 24d · Other expenses: DUES AND SUBS

    total $37,386 · program services $29,565 · management and general $7,807 · fundraising $14

  • 24e · All other expenses

    total $105,406 · program services $103,628 · management and general $1,767 · fundraising $11

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,592,740 · end of year $31,297,793

  • 2 · Savings and temporary cash investments

    beginning of year $6,503 · end of year $6,543

  • 3 · Pledges and grants receivable

    beginning of year $1,776,798 · end of year $3,530,902

  • 4 · Accounts receivable

    beginning of year $16,025,758 · end of year $25,474,183

  • 7 · Other notes and loans receivable

    beginning of year $44,741,502 · end of year $53,178,122

  • 9 · Prepaid expenses and deferred charges

    beginning of year $307,161 · end of year $360,589

  • 10a · Land, buildings and equipment: cost or other basis

    $7,301,672

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,488,424

  • 10c · Land, buildings and equipment, net

    beginning of year $5,985,852 · end of year $5,813,248

  • 13 · Investments: program-related

    beginning of year $4,707,491 · end of year $6,206,457

  • 15 · Other assets

    beginning of year $728 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,118,479 · end of year $1,411,470

  • 19 · Deferred revenue

    beginning of year $252,001 · end of year $78,724

  • 22 · Loans and payables to officers and key people

    beginning of year $173,559 · end of year $178,126

  • 23 · Secured mortgages and notes payable

    beginning of year $66,761,804 · end of year $75,605,377

  • 25 · Other liabilities

    beginning of year $5,250,000 · end of year $5,050,000

  • 27 · Net assets without donor restrictions

    beginning of year $28,841,206 · end of year $28,136,139

  • 28 · Net assets with donor restrictions

    beginning of year $10,747,484 · end of year $15,408,001

Mission and programs · 2022

Mission

CEI INTEGRATES FINANCING, BUSINESS AND INDUSTRY EXPERTISE, AND POLICY SOLUTIONS TO HELP GROW GOOD JOBS, ENVIRONMENTALLY-SUSTAINABLE ENTERPRISES, AND SHARED PROSPERITY IN MAINE AND OTHER RURAL REGIONS.

Activities or mission (Part I)

GROW GOOD JOBS, ENVIRONMENTALLY SUSTAINABLE ENTERPRISES AND MORE BROADLY SHARED PROSPERITY

  • 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.

    Expenses $14,396,116 · Grants $4,326,635 · Revenue $5,100,419

As filed on the 2022 return.

Listed in Part VII

  • ADLER PRIOLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANGELA T BUTLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BETH MATTINGLY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIANA WARNER

    OUTGOING DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CATHERINE VAN DUSEN GODSCHALK

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES J RUDELITCH ESQ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHIP NEWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEBBY MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DEVIN COOK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • IAN YAFFE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JASON PARENT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEANNETTE ANDRE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN DORRER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSH DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEVIN LEWIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRYSTAL WILLIAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIRIAM L SHARK

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SAFIYA KHALID

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT G KENNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SEAN DUNDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SUSAN HAMMOND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELISABETH BIEMANN

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $259,253
    From this org
    $219,437
    From related orgs
    $0
    Other
    $39,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,437
    Bonus
    $0
    Other
    $0
    Deferred
    $11,465
    Nontaxable benefits
    $28,351
    Filer's total
    $259,253

  • KEITH BISSON

    PRESIDENT

    Total calculated
    $232,766
    From this org
    $222,590
    From related orgs
    $0
    Other
    $10,176
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $222,590
    Bonus
    $0
    Other
    $0
    Deferred
    $10,176
    Nontaxable benefits
    $0
    Filer's total
    $232,766

  • TERESA JANKOVIC

    OUTSOURCED CFO

    Total calculated
    $106,550
    From this org
    $106,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • COLLEEN IPPOLITO

    SVP, HUMAN RESOURCES AND OFFICE ADMINISTRATION

    Total calculated
    $167,066
    From this org
    $120,744
    From related orgs
    $0
    Other
    $46,322
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,744
    Bonus
    $0
    Other
    $0
    Deferred
    $5,774
    Nontaxable benefits
    $40,548
    Filer's total
    $167,066

  • DANIEL WALLACE

    CHIEF INVESTMENT OFFICER

    Total calculated
    $163,780
    From this org
    $119,391
    From related orgs
    $0
    Other
    $44,389
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,391
    Bonus
    $0
    Other
    $0
    Deferred
    $6,359
    Nontaxable benefits
    $38,030
    Filer's total
    $163,780

  • JENNIFER SPORZYNSKI

    SVP, WORKFORCE & BUSINESS

    Total calculated
    $164,309
    From this org
    $116,982
    From related orgs
    $0
    Other
    $47,327
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,982
    Bonus
    $0
    Other
    $0
    Deferred
    $6,377
    Nontaxable benefits
    $40,950
    Filer's total
    $164,309

  • LAURA BUXBAUM

    SVP, PUBLIC POLICY & RESOU

    Total calculated
    $158,240
    From this org
    $108,303
    From related orgs
    $0
    Other
    $49,937
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $108,303
    Bonus
    $0
    Other
    $0
    Deferred
    $6,089
    Nontaxable benefits
    $43,848
    Filer's total
    $158,240

  • THOMAS P BURNHAMTHOMAS P BURNHAM

    DIRECTOR OF LOAN QUALITY AND COMPLIANCE

    Total calculated
    $127,514
    From this org
    $104,930
    From related orgs
    $0
    Other
    $22,584
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CEI HOUSING INC

    501(C)(3) · LOW INCOME HOUSING · ME · controlled entity

    Directly controlled by COASTAL ENTERPRISES INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 30 FEDERAL STREET INVESTMENTS LLC

    COMMUNITY DEVELOPMENT · ME · income $2,641,870 · assets $29,997,185

    Directly controlled by COASTAL ENTERPRISES INC

  • CEI FUND CAPITAL LLC

    COMMUNITY DEVELOPMENT · ME · income $1,316,771 · assets $446,273

    Directly controlled by COASTAL ENTERPRISES INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CEI VENTURES INC

    C · VENTURE CAPITAL INVESTMENT · ME · 100% owned

    Directly controlled by COASTAL ENTERPRISES INC

  • RIVERSHORE INC

    C · HOUSING · ME · 100% owned · share of income $24,550

    Directly controlled by COASTAL ENTERPRISES INC

  • CCML MANAGEMENT

    C · HOUSING MANAGEMENT · ME

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202422289349303292

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