Coast Guard Mutual Assistance Incorporated
- Assets
- $52.9m
- Revenue
- $9.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Arlington, VA
- Founding
- 06/2002
- Data as of
- 12/2023
- 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 12/2023, Coast Guard Mutual Assistance Incorporated employed 14 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 12/2023, Coast Guard Mutual Assistance Incorporated generated $9.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $8.1m during the year ending 12/2023. While expenses have increased by 16.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE FINANCIAL RESILIENCE OF THE COAST GUARD COMMUNITY, SUPPORTING "SEE SCHEDULE O" MEMBERS IN NEED THROUGH GRANTS AND INTEREST-FREE LOANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISASTER AND EMERGENCIES - CGMA PROVIDES 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, SUPPORT TO DOMESTIC VIOLENCE SURVIVORS AND OTHER DIRE CIRCUMSTANCES. THESE SHORT-TERM SITUATIONS ARE OUT OF THE CONTROL OF OUR CLIENTS, POSE A SERIOUS FINANCIAL OR PERSONAL HARDSHIP AND REQUIRE URGENT HELP. $2,424,787 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 FOR BOOKS, FEES, AND OTHER EDUCATION EXPENSES, EDUCATION LOANS, STAFFORD LOAN FEE REIMBURSEMENT, FINANCIAL COUNSELING, TUTORING, AND OTHER EFFORTS DESIGNED TO PROMOTE LONG-TERM FINANCIAL RESILIENCE. $346,870 IN INTEREST-FREE LOANS IS NOT ACCOUNTED FOR IN THIS LINE ITEM.
FAMILY AND DAY-TO-DAY 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), FAMILY BUILDING SUPPORT, RESPITE CARE, LAYETTES, AND OTHER SUPPORT TO ENSURE COAST GUARD FAMILIES THRIVE. $1,998,725 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 | OfficerTrustee | 40 | $194,266 |
Linda L Fagan Chairman | OfficerTrustee | 1 | $0 |
Joe Raymond President | OfficerTrustee | 1 | $0 |
John C Baker Vice President | OfficerTrustee | 1 | $0 |
Mike Philipps Treasurer | OfficerTrustee | 1 | $0 |
Heath B Jones Board Member | Trustee | 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 | $32,826 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,292,706 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,325,532 |
| Total Program Service Revenue | $0 |
| Investment income | $1,292,437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,913,969 |
| Net Income from Fundraising Events | $42,492 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,579,148 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,090,567 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $185,016 |
| Compensation of current officers, directors, key employees. | $62,497 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,160,314 |
| Pension plan accruals and contributions | $44,073 |
| Other employee benefits | $227,997 |
| Payroll taxes | $99,772 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,915 |
| Fees for services: Accounting | $27,034 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $25,538 |
| Fees for services: Investment Management | $116,096 |
| Fees for services: Other | $363,314 |
| Advertising and promotion | $138,879 |
| Office expenses | $68,485 |
| Information technology | $173,783 |
| Royalties | $0 |
| Occupancy | $131,811 |
| Travel | $33,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $40,083 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,729 |
| Insurance | $11,467 |
| All other expenses | $0 |
| Total functional expenses | $8,094,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $505,697 |
| Savings and temporary cash investments | $5,397 |
| Pledges and grants receivable | $2,030,433 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,787,704 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,780 |
| Net Land, buildings, and equipment | $184,576 |
| Investments—publicly traded securities | $43,767,238 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,605,978 |
| Total assets | $52,893,803 |
| Accounts payable and accrued expenses | $268,158 |
| 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 | $332,104 |
| Total liabilities | $600,262 |
| Net assets without donor restrictions | $33,875,974 |
| Net assets with donor restrictions | $18,417,567 |
| 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 | $52,893,803 |