2023-08-15T16:06:45-05:00 2022-09-30 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2021-10-01 010347504 COASTAL ENTERPRISES INC COAS 2075045900 30 FEDERAL STREET BRUNSWICK ME 04011 TERESA JANKOVIC CFO 2075045900 2023-08-15 1 TERESA JANKOVIC 999009999 LAURA KIELCZEWSKI P00740769 2122970400 2023-08-15 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ELISABETH BIEMANN 30 FEDERAL STREET BRUNSWICK ME 04011 13614519 0 X WWW.CEIMAINE.ORG X 1977 ME GROW GOOD JOBS, ENVIRONMENTALLY SUSTAINABLE ENTERPRISES AND MORE BROADLY SHARED PROSPERITY 21 21 69 30 0 0 37136338 8306945 2885122 2888229 1151082 1627786 2280594 791559 43453136 13614519 17625413 20900 0 0 5729720 5984171 0 0 606499 5282648 6897565 28637781 12902636 14815355 711883 100877671 113144533 59803945 73555843 41073726 39588690 CEI INTEGRATES FINANCING, BUSINESS AND INDUSTRY EXPERTISE, AND POLICY SOLUTIONS TO HELP GROW GOOD JOBS, ENVIRONMENTALLY-SUSTAINABLE ENTERPRISES, AND SHARED PROSPERITY IN MAINE AND OTHER RURAL REGIONS. 0 0 7758450 20900 3679788 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. 7758450 1 1 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 788 0 1 69 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 ME X ELISABETH BIEMANN 2075045900 30 FEDERAL STREET BRUNSWICK ME 04011 ADLER PRIOLY DIRECTOR 1.00 X 0 0 0 ANGELA T BUTLER DIRECTOR 1.00 X 0 0 0 BETH MATTINGLY DIRECTOR 1.00 X 0 0 0 BRIANA WARNER DIRECTOR 1.00 X 0 0 0 CATHERINE VAN DUSEN GODSCHALK VICE CHAIR 1.00 X X 0 0 0 CHARLES J RUDELITCH ESQ DIRECTOR 1.00 X 0 0 0 CHIP NEWELL DIRECTOR 1.00 X X 0 0 0 CHRISTA VELASQUEZ DIRECTOR 1.00 X 0 0 0 CORDELIA T PITMAN RA LEED AP DIRECTOR 1.00 X 0 0 0 DEBBY MILLER DIRECTOR 1.00 X 0 0 0 DEVIN COOK DIRECTOR 1.00 X 0 0 0 IAN YAFFE DIRECTOR 1.00 X 0 0 0 JASON PARENT DIRECTOR 1.00 X 0 0 0 JEANNETTE ANDRE DIRECTOR 1.00 X 0 0 0 JESSE COLE DIRECTOR 1.00 X 0 0 0 JOHN DORRER DIRECTOR 1.00 X 0 0 0 JOHN EGAN DIRECTOR 1.00 1.00 X 0 0 0 JOSH DAVIS DIRECTOR 1.00 X 0 0 0 KEVIN LEWIS DIRECTOR 1.00 X 0 0 0 KRYSTAL WILLIAMS DIRECTOR 1.00 X 0 0 0 MIRIAM L SHARK BOARD CHAIR 1.00 X X 0 0 0 REGINA PHILLIPS DIRECTOR 1.00 X 0 0 0 SAFIYA KHALID DIRECTOR 1.00 X 0 0 0 SCOTT G KENNEY DIRECTOR 1.00 X 0 0 0 SEAN DUNDON DIRECTOR 1.00 X 0 0 0 SUSAN HAMMOND DIRECTOR 1.00 X 0 0 0 DAVID WEDICK CHIEF FINANCIAL OFFICER 39.00 1.00 X 176380 0 28296 ELISABETH BIEMANN CHIEF EXECUTIVE OFFICER 40.00 X 205275 0 48319 KEITH BISSON PRESIDENT 39.00 1.00 X 194198 0 0 DANIEL WALLACE CHIEF INVESTMENT OFFICER 40.00 X 107155 0 57181 ELIZABETH ROGERS SVP, COMMUNICATIONS 40.00 X 117690 0 59703 JENNIFER HARRIS SVP, FOOD SYSTEMS STRATEGIES 40.00 X 103007 0 40834 JENNIFER SPORZYNSKI SVP, WORKFORCE & BUSINESS 40.00 X 110904 0 58607 LAURA BUXBAUM SVP, PUBLIC POLICY & RESOU 39.00 1.00 X 103239 0 61481 1117848 0 354421 8 0 1 0 CURTIS TAXTER LLC ONE CANAL PLAZA SUITE 1000 PORTLAND ME 04101 LEGAL SERVICES 188702 COHNREZNICK LLP 14 SYLVAN WAY PARSIPPANY NJ 07068 ACCOUNTING SERVICES 185283 2 6069418 2237527 8306945 INTEREST ON LOAN 900099 2549771 2549771 FEE INCOME 900099 338458 338458 2888229 88880 88880 1538906 0 1538906 1538906 1538906 MANAGEMENT FEE 900099 431563 431563 BAD DEBT RECOVERY 900099 287180 287180 72816 72816 791559 13614519 3679788 0 1627786 X 20900 20900 430577 217071 188061 25445 4882673 2461553 2132574 288546 282559 142449 123411 16699 388362 195789 169622 22951 75644 19285 56359 153049 39018 114031 25954 25954 1894572 1008290 795470 90812 132101 44579 52553 34969 184367 10470 173786 111 281365 15978 265218 169 262399 184171 64409 13819 86982 29353 34604 23025 593 200 236 157 1734698 1734698 229828 161310 56414 12104 918593 644735 225480 48378 LOAN LOSSES 401567 401567 STAFF DEVELOPMENT 101132 34128 40233 26771 REPAIRS & MAINTENANCE 48291 33894 11854 2543 DUES AND SUBS 32714 32714 333716 300344 33372 12902636 7758450 4537687 606499 34597406 39592740 4833 6503 3402970 1776798 13531656 16025758 39343220 44741502 162004 307161 7259213 1273361 6587025 5985852 3248557 4707491 0 728 100877671 113144533 1294455 1118479 290756 252001 299455 173559 52319278 66761804 5600001 5250000 59803945 73555843 X 31504705 28841206 9569021 10747484 41073726 39588690 100877671 113144533 711883 -88470 -2108449 0 X X 0 1 X 1 1 1 X 5960253 5494429 6815694 37136338 8306945 63713659 5960253 5494429 6815694 37136338 8306945 63713659 10715477 52998182 312382 266868 183534 46899 88880 898563 849943 796884 858510 2270694 791559 5567590 70179812 14754762 0.75520 0.75370 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ANNUAL MEETING - 2017 AMOUNT: $ 59,361. 2018 AMOUNT: $ 50,410. BAD DEBT RECOVERY - 2017 AMOUNT: $ 370,281. 2018 AMOUNT: $ 308,337. 2019 AMOUNT: $ 249,633. 2020 AMOUNT: $ 518,569. 2021 AMOUNT: $ 287,180. WORKSHOP INCOME - 2017 AMOUNT: $ 22,024. MISCELLANEOUS INCOME - 2017 AMOUNT: $ 30,688. 2018 AMOUNT: $ 3,742. 2019 AMOUNT: $ 154,286. 2020 AMOUNT: $ 1,402,125. 2021 AMOUNT: $ 72,816. MANAGEMENT FEES - 2017 AMOUNT: $ 367,589. 2018 AMOUNT: $ 434,395. 2019 AMOUNT: $ 454,591. 2020 AMOUNT: $ 350,000. 2021 AMOUNT: $ 431,563. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29218 29218 12873418 12902636 795132 198783 0 0 526465 518347 1000000 795132 2839944 4259916 11178 2032 20302 29218 62730 131616 129587 250000 198783 709986 1064979 PART VII-A: POLICY ADVOCACY HAS ALWAYS BEEN AN IMPORTANT PART OF CEI'S STRATEGY TO CREATE IMPACT. MOST OF CEI'S POLICY ADVOCACY FOCUSES ON INCREASING RESOURCES AVAILABLE TO CEI AND TO THE CDFI FIELD. WE ALSO ADVOCATE FOR POLICIES THAT HAVE AN INDIRECT IMPACT ON OUR WORK, SUCH AS PROVIDING MORE RESOURCES FOR TRAINING WORKERS OR CREATING A SUPPORTIVE REGULATORY ENVIRONMENT FOR OUR WORK THROUGH CRA OR PREVENTING ABUSIVE PREDATORY LENDING OR FORECLOSURE PRACTICES. POLICY INITIATIVES USUALLY ARISE FROM EITHER OPPORTUNITIES OR BARRIERS THAT WE SEE FROM OUR WORK ON THE GROUND. OFTEN OUR FIRST STEP TOWARDS A POLICY INITIATIVE IS TO RESEARCH AN ISSUE AND MAKE RECOMMENDATIONS FOR ACTION. AT TIMES WE PLAY A LEADING ROLE, BUT MORE OFTEN WE ARE BOARD MEMBERS OF POLICY AND ADVOCACY ORGANIZATIONS AND PARTICIPATE IN STATE OR NATIONAL COALITIONS THAT COLLECTIVELY TAKE ON AN ISSUE, AS DESCRIBED ABOVE. WE EDUCATE POLICY MAKERS AND THE PUBLIC ON POLICY ISSUES BY FORMING COALITION SUPPORT TO TESTIFY ON SPECIFIC BILLS, CONTACT THE MEDIA, AND MEET ONE ON ONE WITH ELECTED OFFICIALS. MOST OF THIS ACTIVITY IS NOT ACTUAL LOBBYING. IN LIMITED CASES AT BOTH THE STATE AND FEDERAL LEVELS, CEI ACTIVELY LOBBIES FOR SPECIFIC LEGISLATION. IN THESE CASES, CEI STAFF RECORD THEIR TIME AS LOBBYING-RELATED. IN ADDITION, CEI HAS LIMITED LOBBYING-RELATED CONTRACTS WITH RAPOZA ASSOCIATES IN WASHINGTON, DC. 0 0 700000 700000 6340583 1136681 5203902 4450 1744 2706 214180 134936 79244 5985852 SUBORDINATED DEBT 5250000 5250000 X 19610475 -88471 5175532 5087061 14523414 -908895 -908895 13614519 18843523 5410666 5410666 13432857 -530221 -530221 12902636 PART X, LINE 2: THE CORPORATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. TAX POSITION INCLUDE THE TAX-EXEMPT STATUS OF THE CORPORATION, AMONG OTHERS. THERE ARE NO UNCERTAIN TAX POSITIONS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE YEARS ENDED SEPTEMBER 30, 2021 AND 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS REVENUES 6,913,094. INTERCOMPANY ELIMINATIONS -1,737,562. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRIES -908,895. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS EXPENSES 7,091,020. INTERCOMPANY ELIMINATIONS -1,680,354. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRIES -530,221. X X X 0 0 0 0 0 0 0 0 0 ELISABETH BIEMANN CHIEF EXECUTIVE OFFICER 205275 0 0 0 0 0 0 0 48319 0 253594 0 0 0 DAVID WEDICK CHIEF FINANCIAL OFFICER 176380 0 0 0 0 0 0 0 28296 0 204676 0 0 0 KEITH BISSON PRESIDENT 194198 0 0 0 0 0 0 0 0 0 194198 0 0 0 ELIZABETH ROGERS SVP, COMMUNICATIONS 117690 0 0 0 0 0 0 0 59703 0 177393 0 0 0 JENNIFER SPORZYNSKI SVP, WORKFORCE & BUSINESS 110904 0 0 0 0 0 0 0 58607 0 169511 0 0 0 LAURA BUXBAUM SVP, PUBLIC POLICY & RESOU 103239 0 0 0 0 0 0 0 61481 0 164720 0 0 0 DANIEL WALLACE CHIEF INVESTMENT OFFICER 107155 0 0 0 0 0 0 0 57181 0 164336 0 0 0 CATHERINE VAN DUSEN GODSCHALK DIRECTOR FOR CEI TO ONLEND X 25000 25000 0 1 1 CHIP NEWELL BOARD MEMBER FOR CEI TO ONLEND X 30000 39816 0 1 1 DAVID VAIL BOARD MEMBER FOR CEI TO ONLEND X 10000 22917 0 1 1 DAVID VAIL FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 11638 0 1 1 DAVID VAIL FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 20293 0 1 1 ELISABETH BIEMANN OFFICER FOR CEI TO ONLEND X 5000 16766 0 1 1 ELISABETH BIEMANN OFFICER FOR CEI TO ONLEND X 15000 5335 0 1 1 IAN YAFFE BOARD MEMBER FOR CEI TO ONLEND X 5000 5716 0 1 1 KARIN GREGORY BOARD MEMBER FOR CEI TO ONLEND X 5000 6078 0 1 1 MIRIAM L SHARK BOARD VICE-CHAIR FOR CEI TO ONLEND X 20000 20000 0 1 1 173559 FORM 990, PART VI, SECTION B, LINE 11B CEI'S FORM 990 IS THOROUGHLY REVIEWED BY THE CHIEF FINANCIAL OFFICER. THE RETURN IS PROVIDED TO THE BOARD FOR ACKNOWLEDGMENT AND REVIEW. UPON SATISFACTORY COMPLETION OF THE CHIEF FINANCIAL OFFICER REVIEW THE CFO SIGNS THE EFILE AUTHORIZATION FORM. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTORS ARE REQUIRED TO SIGN AN ANNUAL STATEMENT DISCLOSING ANY CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS. THE BOARD CHAIR IS RESPONSIBLE FOR CONDUCTING AN ANNUAL CEO PERFORMANCE REVIEW. THE BOARD APPROVES THE ANNUAL BUDGET, WHICH INCLUDES THE STAFF SALARY BUDGET. EVERY TWO TO THREE YEARS AS A BEST PRACTICE, CEI ENGAGES AN INDEPENDENT, THIRD-PARTY HR CONSULTANT TO CONDUCT A COMPREHENSIVE MARKET COMPENSATION STUDY. THE RESULTS ARE USED TO UPDATE CEI'S EXISTING SALARY AND POSITION GRADING SYSTEM AND INFORM MARKET-BASED COMPENSATION ADJUSTMENTS WHEN APPROPRIATE. THIS SYSTEM WAS DEVELOPED BY THE SAME CONSULTANT IN 2014. THE LAST COMPREHENSIVE MARKET STUDY WAS CONDUCTED IN FISCAL YEAR 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ANNUAL REPORT IS AVAILABLE ON OUR WEBSITE. WE DO NOT CURRENTLY MAKE OUR GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 1,008,290. MANAGEMENT AND GENERAL EXPENSES 795,470. FUNDRAISING EXPENSES 90,812. TOTAL EXPENSES 1,894,572. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AS WELL AS THE SELECTION OF THE INDEPENDENT ACCOUNTANT. 30 FEDERAL STREET INVESTMENTS LLC 30 FEDERAL STREET BRUNSWICK ME 04011 813520178 COMMUNITY DEVELOPMENT ME 799514 20541476 COASTAL ENTERPRISES INC CEI FUND CAPITAL LLC 30 FEDERAL STREET BRUNSWICK ME 04011 842671059 COMMUNITY DEVELOPMENT ME -354857 218371 COASTAL ENTERPRISES INC CEI HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 223080013 LOW INCOME HOUSING ME 501(C)(3) LINE 10 COASTAL ENTERPRISES INC 1 WISCASSET REGIONAL DEVELOPMENT CORP 485 CHEWONKI NECK ROAD WISCASSET ME 04578 300220853 EMPLOYMENT OPPORTUN IN WISCASSET AREA ME 501(C)(3) LINE 7 COASTAL ENTERPRISES INC 1 BC HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A 0 0 BRIGHT COMMUNITY CAPITAL HOLDINGS LLC 30 FEDERAL STREET BRUNSWICK ME 04011 824156609 COMMUNITY DEVELOPMENT ME N/A 0 0 CEI CAPITAL MANAGEMENT LLC 30 FEDERAL STREET BRUNSWICK ME 04011 460496505 COMMUNITY DEVELOPMENT ME COASTAL ENTERPRISES INC RELATED 223976 8966654 0 1 0.99990 CHOM HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A 0 0 COASTAL VENTURES III LP 30 FEDERAL STREET BRUNSWICK ME 04011 262795010 VENTURE CAPITAL INVESTMENT ME N/A 0 0 COASTAL VENTURES IV LP 30 FEDERAL STREET BRUNSWICK ME 04011 472445874 VENTURE CAPITAL INVESTMENT ME N/A 0 0 COASTAL VENTURES V LP 30 FEDERAL STREET BRUNSWICK ME 04011 VENTURE CAPITAL INVESTMENT ME N/A 0 0 POND CIRCLE LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A 0 0 RIVERSHORE PLACE HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A 0 0 BC HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 412028826 HOUSING ME COASTAL ENTERPRISES INC C 30705 1.00000 0 CEI VENTURES INC 30 FEDERAL STREET BRUNSWICK ME 04011 010492380 VENTURE CAPITAL INVESTMENT ME COASTAL ENTERPRISES INC C 1.00000 0 COASTAL COMMUNITY HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 010546740 HOUSING ME COASTAL ENTERPRISES INC C -470596 1.00000 0 POND CIRCLE INC 30 FEDERAL STREET BRUNSWICK ME 04011 010547370 HOUSING ME COASTAL ENTERPRISES INC C 29968 1.00000 0 RIVERSHORE INC 30 FEDERAL STREET BRUNSWICK ME 04011 263748967 HOUSING ME COASTAL ENTERPRISES INC C 16 1.00000 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 CEI CAPITAL MANAGEMENT LLC C 646833 CASH TRANSFERRED TO/FROM CEI CAPITAL MANAGEMENT LLC M 605448 INTERCOMPANY SHARED SERVICE EXPEN