Coastal Enterprises Inc
- Assets
- $125.9m
- Revenue
- $22.6m
- Investments
- $0.0
- Employees
- 70
- Location
- Brunswick, ME
- Founding
- 10/1978
- Data as of
- 09/2023
- 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 09/2023, Coastal Enterprises Inc employed 70 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 09/2023, Coastal Enterprises Inc generated $22.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $18.7m during the year ending 09/2023. While expenses have increased by 4.9% per year over the past 8 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.
Since 2023, Coastal Enterprises Inc has awarded 60 individual grants totaling $3,548,435. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
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 |
|---|---|---|---|
Adler Prioly Director | Trustee | 1 | $0 |
Angela T Butler Director | Trustee | 1 | $0 |
Beth Mattingly Director | Trustee | 1 | $0 |
Briana Warner Outgoing Director | Trustee | 1 | $0 |
Catherine Van Dusen Godschalk Vice Chair | OfficerTrustee | 1 | $0 |
Charles J Rudelitch ESQ Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cohn Reznick Llp Consulting/audit & Tax Prep | 9/29/23 | $206,060 |
Hadje A Esmiller Consulting/interim Director Of Accountin | 9/29/23 | $133,632 |
Teresa Jankovic Consulting/interim Cfo | 9/29/23 | $106,550 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $74,545 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,302,120 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,289,712 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,666,377 |
| Total Program Service Revenue | $3,931,407 |
| Investment income | $550,713 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,323,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,641,314 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,569,485 |
| Grants and other assistance to domestic individuals. | $757,150 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $653,428 |
| Compensation of current officers, directors, key employees. | $179,817 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,562,353 |
| Pension plan accruals and contributions | $234,620 |
| Other employee benefits | $95,149 |
| Payroll taxes | $446,434 |
| Fees for services: Management | $475,606 |
| Fees for services: Legal | $135,421 |
| Fees for services: Accounting | $286,438 |
| Fees for services: Lobbying | $26,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,370,119 |
| Advertising and promotion | $122,051 |
| Office expenses | $184,237 |
| Information technology | $392,734 |
| Royalties | $0 |
| Occupancy | $270,090 |
| Travel | $162,997 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,509 |
| Interest | $2,212,064 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $215,063 |
| Insurance | $999,412 |
| All other expenses | $105,406 |
| Total functional expenses | $18,685,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,297,793 |
| Savings and temporary cash investments | $6,543 |
| Pledges and grants receivable | $3,530,902 |
| Accounts receivable, net | $25,474,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $53,178,122 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $360,589 |
| Net Land, buildings, and equipment | $5,813,248 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,206,457 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $125,867,837 |
| Accounts payable and accrued expenses | $1,411,470 |
| Grants payable | $0 |
| Deferred revenue | $78,724 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $178,126 |
| Secured mortgages and notes payable | $75,605,377 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,050,000 |
| Total liabilities | $82,323,697 |
| Net assets without donor restrictions | $28,136,139 |
| Net assets with donor restrictions | $15,408,001 |
| 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 | $125,867,837 |
Grants Awarded
Over the last fiscal year, Coastal Enterprises Inc has awarded $3,548,435 in support to 60 organizations.
| Grant Recipient | Amount |
|---|---|
TREE FROG LEARNING CENTER LLC PURPOSE: CHILD CARE INFRASTRUCTURE GRANT PROGRAM | $250,000 |
SUMMIT COMMUNITY CHURCH PURPOSE: CHILD CARE INFRASTRUCTURE GRANT PROGRAM | $250,000 |
BOYS GIRLS CLUBS OF KENNEBEC VALLEY PURPOSE: CHILD CARE INFRASTRUCTURE GRANT PROGRAM | $250,000 |
CIRCLE OF FRIENDS DAYCARE PURPOSE: CHILD CARE INFRASTRUCTURE GRANT PROGRAM | $250,000 |
SEEDLINGS TO SUNFLOWERS PURPOSE: CHILD CARE INFRASTRUCTURE GRANT PROGRAM | $187,500 |
BANGOR MONTESSORI SCHOOL LLC PURPOSE: CHILD CARE INFRASTRUCTURE GRANT PROGRAM | $150,000 |