Mid-Coast Economic Development Council
- Assets
- $107.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Wiscasset, ME
- Founding
- 08/1989
- Data as of
- 06/2022
- EIN
- 22-2982547
Organization Overview
Mid-Coast Economic Development Council is located in Wiscasset, ME. The organization was established in 1989. 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. Mid-Coast Economic Development Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Mid-Coast Economic Development Council generated $167.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $170.0k during the year ending 06/2022. While expenses have increased by 5.9% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
REGIONAL MARKETING & TOURISM PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Peaco Vice President | 2 | $0 | |
Ralph G Harvey Secretary | 2 | $0 | |
Patricia Cloutier Treasurer | 2 | $0 | |
Cory King President | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $167,233 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $15 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $167,248 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $602 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $23 |
| Other expenses | $169,388 |
| Total expenses | $170,013 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $22,050 |
| Other assets | $0 |
| Total assets | $107,416 |
| Total liabilities | $55,169 |
| Net assets or fund balances | $52,247 |
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 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Maine Development Foundation Hallowell, ME | $970,799 | $2,681,444 |
Maine Tourism Association Hallowell, ME | $2,552,212 | $2,806,092 |
Maine Manufacturing Extension Partnership Augusta, ME | $1,279,245 | $1,939,009 |
Rockingham Economic Development Corporation Raymond, NH | $17,369,754 | $4,323,565 |
Kennebec Valley Council Of Governments Fairfield, ME | $3,745,709 | $1,561,553 |
Main Street Skowhegan Skowhegan, ME | $357,285 | $771,437 |
Convention Visitors Bureau Of Greater Portland Portland, ME | $563,151 | $741,115 |
Walpole Foundation Walpole, NH | $9,906,634 | $599,898 |
New Hampshire Lodging And Resturant Association Concord, NH | $788,383 | $690,976 |