Overview
What is Coastal Enterprises Inc?
Coastal Enterprises Inc, located at 30 Federal Street, Brunswick, ME 04011, is a nonprofit organization dedicated to stimulating economic growth and creating opportunities for individuals, particularly those with low incomes. They primarily focus on small businesses, social services, affordable housing, and community facilities. Their mission encompasses growing good jobs, nurturing environmentally sustainable enterprises, and promoting shared prosperity in Maine and rural regions. By integrating financing, business expertise, and policy solutions, Coastal Enterprises Inc helps foster thriving businesses and communities.
Official website here: www.ceimaine.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Star rating)
Coastal Enterprises Inc has received a respectable Three-Star rating from Charity Navigator, signifying a solid performance in accountability and finance. The organization achieved a score of 85% overall, reflecting a strong commitment to financial transparency and governance. The rating emphasizes that accountability and finance are critical metrics for assessing charity effectiveness, which Coastal Enterprises Inc has successfully demonstrated.
The organization showcases several strengths, including a fully independent board of directors, effective financial oversight, and a commitment to ethical policies such as conflict of interest and whistleblower protections. Noteworthy points include a high program expense ratio of 72.41%, indicating that a significant portion of its budget is directed toward its mission-related activities. The absence of material diversions of assets further reinforces its credibility and trustworthiness.
However, there are areas for improvement, particularly in the liabilities to assets ratio, which stands at 65.01%. While this is not alarming, it suggests that a careful management of financial obligations may be necessary moving forward. Overall, Coastal Enterprises Inc demonstrates strong governance practices combined with a clear focus on mission effectiveness, making it a reputable choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Coastal Enterprises Inc legitimate?
Coastal Enterprises Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Coastal Enterprises Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $430,577
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,882,673
For more financial information, click here
Official website here: www.ceimaine.org
What is the mission statement of Coastal Enterprises Inc?
Coastal Enterprises Inc is dedicated to fostering job growth and sustainable enterprises, as well as promoting broadly shared prosperity. They accomplish this mission by integrating financing, industry expertise, and policy solutions to help create opportunities for communities and individuals, particularly those with low incomes. The organization develops and administers programs and mobilizes funds to stimulate economic activity through investment, technical assistance, research, and education, primarily focusing on small businesses, social services, affordable housing, and community facilities.
Official website here: www.ceimaine.org
Who is the CEO of Coastal Enterprises Inc?
Elisabeth Biemann is the Chief Executive Officer of Coastal Enterprises Inc. The CEO's salary of Coastal Enterprises Inc is $205,275 and their total compensation is $253,594.
Official website here: www.ceimaine.org
What is the revenue of Coastal Enterprises Inc?
Coastal Enterprises Inc's revenue in 2022 was $13,614,519.
Official website here: www.ceimaine.org
Who are the executives of Coastal Enterprises Inc and what are their salaries?
The average compensation at Coastal Enterprises Inc during 2022 was $77,004. There are 69 employees and 30 volunteers at Coastal Enterprises Inc.
Here are 34 key members and their salaries (Coastal Enterprises Inc's CEO's salary is $205,275 and their total compensation is $253,594):
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- Compensation: $176,380
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- Other: $28,296
- Compensation: $205,275
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- Compensation: $194,198
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- Compensation: $103,239
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- Other: $61,481
Official website here: www.ceimaine.org
Where can I find the form 990 for Coastal Enterprises Inc?
Coastal Enterprises Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ceimaine.org
Learn more at the official website: www.ceimaine.org
Mission Statement of Coastal Enterprises Inc
Coastal Enterprises Inc, or CEI, is a mission-driven organization that integrates financing, industry expertise, and policy solutions to create opportunities for communities and individuals, particularly those with low incomes. CEI helps stimulate economic activity primarily in small businesses, social services, affordable housing, and community facilities. By doing so, it contributes to growing good jobs and shared prosperity in rural regions.
CEI goes beyond providing traditional financial services. It develops and administers programs and mobilizes funds to support the growth of environmentally-sustainable enterprises. Through its unique approach, CEI fosters sustainable economic development that benefits local communities and enhances their quality of life. The organization's commitment to creating opportunities extends beyond the financial realm, as it also offers technical assistance, research, and education to help businesses thrive.
CEI's work is pivotal in fostering economic growth and shared prosperity, focusing on the needs of underserved populations. By investing in small businesses and community facilities, it lays the groundwork for a robust and diverse local economy. Furthermore, CEI's dedication to social services ensures that essential resources are available to those in need, promoting equality and inclusivity. Through its innovative approach, Coastal Enterprises Inc is making a significant impact on the lives of individuals and communities by fostering economic growth and shared prosperity.
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Impact
August, 2024
Coastal Enterprises Inc has a significant impact on communities and individuals, especially those with low incomes, by creating opportunities for economic growth and prosperity. Through their programs and initiatives, they stimulate economic activity in various sectors such as small businesses, social services, affordable housing, and community facilities. By integrating financing, business expertise, and policy solutions, Coastal Enterprises Inc works towards growing good jobs, environmentally sustainable enterprises, and fostering shared prosperity in Maine and other rural regions. Their work not only supports the development of businesses and infrastructure but also improves the overall well-being of communities by promoting economic stability and social progress.
This information is meant to be a general summary of Coastal Enterprises Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,627,786
- Program Service Revenue: $2,888,229
- Gross Receipts: $13,614,519
Assets and Liabilities:
- Total Assets: $113,144,533
- Total Liabilities: $73,555,843
- Net Assets: $39,588,690
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOAN
Revenue
$2,549,771
FEE INCOME
Revenue
$338,458
Organization Details
Founding Year
1977
Phone
(207) 504-5900Principal Officer
Elisabeth Biemann
Main Address
30 FEDERAL STREET, BRUNSWICK, ME, 04011
Website
www.ceimaine.orgNTEE Category
Code: L21 - Housing
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