Coastal Gateway Regional Economic Development Alliance
- Assets
- $102.9k
- Revenue
- $1.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Monroeville, AL
- Founding
- 02/2011
- Data as of
- 09/2021
- EIN
- 27-2954915
Organization Overview
Coastal Gateway Regional Economic Development Alliance is located in Monroeville, AL. The organization was established in 2011. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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 Gateway Regional Economic Development Alliance 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 09/2021, Coastal Gateway Regional Economic Development Alliance generated $1.3k 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 (55.8%) each year. All expenses for the organization totaled $4.0k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (46.8%) per year over the past 7 years. 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 MARKET AND PROMOTE THE ASSETS OF A FIVE COUNTY REGION IN ORDER TO ATTRACT NEW BUSINESSES TO THE AREA. THE ENTITY WILL CARRY OUT ITS MISSION BY PARTNERING WITH LOCAL CHAMBERS OF COMMERCE, THE LOCAL ECONOMIC DEVELOPMENT AUTHORITIES AND LOCAL BUSINESSES AND GOVERNMENTAL LEADERS TO MARKET AND PROMOTE THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IT IS MORE DIFFICULT FOR A RURAL INDIVIDUAL COMMUNITY OR COUNTY TO EFFECTIVELY MOUNT THE TYPE OF MARKETING CAMPAIGN NEEDED TO ATTRACT NEW BUSINESSES AND INDUSTRIES TO AN AREA. THESE SMALLER COMMUNITIES OFTEN HAVE LIMITED BUDGETS, TIME AND IN SOME CASES, EXPERTISE. THE ENTITY WAS ABLE TO PROVIDE THE TYPE OF REPRESENTATION THESE COMMUNITIES COULD NOT HAVE GOTTEN ON THEIR OWN. COLLECTIVE MARKETING ACTIVITIES WAS A BENEFIT FOR EACH AREA OF THE REPRESENTED REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Black Director | Trustee | $0 | |
Pete Black Director | Trustee | $0 | |
Mark Burgess Director | Trustee | $0 | |
Tim Dantz Director | Trustee | $0 | |
Glen Davis Director | Trustee | $0 | |
Paul England Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,262 |
| Investment income | $1 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,263 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,719 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,800 |
| Savings and temporary cash investments | $1,757 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $102,876 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,500 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $102,876 |