2022-08-15T15:28:32-05:00 2021-09-30 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2020-10-01 010347504 COASTAL ENTERPRISES INC COAS 2075045900 30 FEDERAL STREET BRUNSWICK ME 04011 ELISABETH BIEMANN CEO 2075045900 2022-08-15 1 ELISABETH BIEMANN 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2022-08-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ELISABETH BIEMANN 30 FEDERAL STREET BRUNSWICK ME 04011 49546771 0 X WWW.CEIMAINE.ORG X 1977 ME GROW GOOD JOBS, ENVIRONMENTALLY SUSTAINABLE ENTERPRISES AND MORE BROADLY SHARED PROSPERITY 18 18 68 30 0 0 6815694 37136338 3243301 2885122 1084435 1151082 870010 2280594 12013440 43453136 8250 17625413 0 0 6237307 5729720 0 0 522234 6051661 5282648 12297218 28637781 -283778 14815355 99554541 100877671 65000480 59803945 34554061 41073726 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 23865586 17625413 5155816 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. 23865586 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 1 259 0 1 68 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 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 ANGELA T BUTLER DIRECTOR 1.00 0.00 X 0 0 0 BETH MATTINGLY DIRECTOR 1.00 0.00 X 0 0 0 BRIANA WARNER DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE VAN DUSEN GODSCHALK DIRECTOR 1.00 0.00 X 0 0 0 CHARLES J RUDELITCH ESQ DIRECTOR 1.00 0.00 X 0 0 0 CHIP NEWELL BOARD CHAIR 1.00 0.00 X X 0 0 0 CHRISTA VELASQUEZ DIRECTOR 1.00 0.00 X 0 0 0 CORDELIA T PITMAN RA LEED AP DIRECTOR 1.00 0.00 X 0 0 0 DEBBY MILLER DIRECTOR 1.00 0.00 X 0 0 0 DEVIN COOK DIRECTOR 1.00 0.00 X 0 0 0 IAN YAFFE DIRECTOR 1.00 0.00 X 0 0 0 JEANNETTE ANDRE DIRECTOR 1.00 0.00 X 0 0 0 JOHN DORRER DIRECTOR 1.00 0.00 X 0 0 0 JOSH DAVIS DIRECTOR 1.00 0.00 X 0 0 0 KEVIN LEWIS DIRECTOR 1.00 0.00 X 0 0 0 MIRIAM L SHARK BOARD VICE-CHAIR 1.00 0.00 X X 0 0 0 REGINA PHILLIPS DIRECTOR 1.00 0.00 X 0 0 0 SCOTT G KENNEY DIRECTOR 1.00 0.00 X 0 0 0 DAVID WEDICK CHIEF FINANCIAL OFFICER 39.00 1.00 X 176177 0 14162 ELISABETH BIEMANN CHIEF EXECUTIVE OFFICER 40.00 0.00 X 194899 0 21514 KEITH BISSON PRESIDENT 39.00 1.00 X 186465 0 0 ELIZABETH ROGERS SVP, COMMUNICATIONS 40.00 0.00 X 112040 0 36091 JENNIFER SPORZYNSKI SVP, WORKFORCE & BUSINESS DEVELOPMENT 40.00 0.00 X 102141 0 34503 JESSE COLE SVP, INFORMATION TECHNOLOGY 40.00 0.00 X 135827 0 20248 JOHN EGAN CHIEF INVESTMENT OFFICER 39.00 1.00 X 100750 0 28299 1008299 0 154817 7 0 1 0 0 7228397 29907941 37136338 INTEREST ON LOAN 900099 2580518 2580518 FEE INCOME 900099 304604 304604 2885122 36999 36999 9900 0 9900 9900 9900 7207718 6093635 1114083 1114083 1114083 OTHER INCOME 900099 1402125 1402125 BAD DEBT RECOVERY 900099 518569 518569 MANAGEMENT FEE 900099 350000 350000 2270694 43453136 5155816 0 1160982 6950 6950 17618463 17618463 678884 342253 296512 40119 4445739 2241277 1941737 262725 194132 97869 84790 11473 43188 21773 18863 2552 367777 185411 160632 21734 135213 34471 100742 144928 36948 107980 14200 14200 1736693 924267 729182 83244 51362 17333 20433 13596 189558 10764 178680 114 266606 15140 251306 160 267454 187719 65650 14085 7755 2617 3085 2053 418 141 166 111 1640506 1640506 205360 144137 50408 10815 730161 512480 179227 38454 OTHER EXPENSES 233241 209917 23324 STAFF DEVELOPMENT 72529 24476 28854 19199 REPAIRS & MAINTENANCE 34180 23990 8390 1800 PROVISION FOR BAD DEBT 1426 1426 -448942 -448942 28637781 23865586 4249961 522234 2188740 34597406 21190823 4833 883019 3402970 14773427 13531656 45266793 39343220 215713 162004 7685038 1098013 10210913 6587025 4752063 3248557 73050 0 99554541 100877671 1559733 1294455 376221 290756 229350 299455 57313214 52319278 5521962 5600001 65000480 59803945 X 27770228 31504705 6783833 9569021 34554061 41073726 99554541 100877671 X 14815355 -245532 -8050157 X X 0 1 X 1 1 1 X 7039321 5960253 5494429 6815694 37136338 62446035 7039321 5960253 5494429 6815694 37136338 62446035 10723612 51722423 230499 312382 266868 183534 46899 1040182 361799 849943 796884 858510 2270694 5137830 68624047 15071199 0.75370 0.81030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ANNUAL MEETING - 2017 AMOUNT: $ 59,361. 2018 AMOUNT: $ 50,410. BAD DEBT RECOVERY - 2016 AMOUNT: $ 313,485. 2017 AMOUNT: $ 370,281. 2018 AMOUNT: $ 308,337. 2019 AMOUNT: $ 249,633. 2020 AMOUNT: $ 518,569. WORKSHOP INCOME - 2016 AMOUNT: $ 24,913. 2017 AMOUNT: $ 22,024. MISCELLANEOUS INCOME - 2016 AMOUNT: $ 23,401. 2017 AMOUNT: $ 30,688. 2018 AMOUNT: $ 3,742. 2019 AMOUNT: $ 154,286. 2020 AMOUNT: $ 1,402,125. MANAGEMENT FEES - 2017 AMOUNT: $ 367,589. 2018 AMOUNT: $ 434,395. 2019 AMOUNT: $ 454,591. 2020 AMOUNT: $ 350,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20302 20302 28617479 28637781 1000000 250000 0 0 723948 526465 518347 1000000 2768760 4153140 22899 11178 2032 20302 56411 180987 131616 129587 250000 692190 1038285 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 1015448 1015448 6450960 1023614 5427346 4450 1298 3152 214180 73101 141079 6587025 SUBORDINATED DEBT 5600001 5600001 X 51463508 -245532 7042163 6796631 44666877 -1213741 -1213741 43453136 34623793 4575145 4575145 30048648 -1410866 -1410866 28637782 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 9,890,580. INTERCOMPANY ELIMINATIONS -2,848,417. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRIES -1,213,741. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS EXPENSES 6,063,913. INTERCOMPANY ELIMINATIONS -1,488,768. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATING ENTRIES -1,410,866. X X X 0 0 0 0 0 0 0 0 0 ELISABETH BIEMANN CHIEF EXECUTIVE OFFICER 194899 0 0 0 0 0 0 0 21514 0 216413 0 0 0 DAVID WEDICK CHIEF FINANCIAL OFFICER 176177 0 0 0 0 0 0 0 14162 0 190339 0 0 0 KEITH BISSON PRESIDENT 186465 0 0 0 0 0 0 0 0 0 186465 0 0 0 JESSE COLE SVP, INFORMATION TECHNOLOGY 135827 0 0 0 0 0 0 0 20248 0 156075 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 38844 0 1 1 DAVID VAIL BOARD MEMBER FOR CEI TO ONLEND X 10000 20000 0 1 1 DAVID VAIL FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 11495 0 1 1 DAVID VAIL FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 22468 0 1 1 ELISABETH BIEMANN OFFICER FOR CEI TO ONLEND X 5000 5336 0 1 1 ELISABETH BIEMANN OFFICER FOR CEI TO ONLEND X 15000 16766 0 1 1 ELLEN GOLDEN FORMER OFFICER FOR CEI TO ONLEND X 30000 35844 0 1 1 ELLEN SEIDMAN FORMER BOARD MEMBER FOR CEI TO ONLEND X 50000 50000 0 1 1 ELLEN SEIDMAN FORMER BOARD MEMBER FOR CEI TO ONLEND X 15000 15000 0 1 1 IAN YAFFE BOARD MEMBER FOR CEI TO ONLEND X 5000 5688 0 1 1 KARIN GREGORY BOARD MEMBER FOR CEI TO ONLEND X 5000 5931 0 1 1 MIRIAM L SHARK BOARD VICE-CHAIR FOR CEI TO ONLEND X 20000 20000 0 1 1 RON PHILLIPS FORMER BOARD MEMBER FOR CEI TO ONLEND X 25000 0 0 1 1 SUE INCHES FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 27083 0 1 1 299455 FORM 990, PART VI, SECTION B, LINE 11B CEI'S FORM 990 IS THOROUGHLY REVIEWED BY THE INTERIM CHIEF FINANCIAL OFFICER. THE RETURN IS PROVIDED TO THE BOARD FOR ACKNOWLEDGMENT AND REVIEW. UPON SATISFACTORY COMPLETION OF THE INTERIM CHIEF FINANCIAL OFFICER REVIEW THE CEO 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 SET BY THE BOARD OF DIRECTORS. THE BOARD ALSO APPROVES THE ANNUAL BUDGET, WHICH INCLUDES THE STAFF COMPENSATION BUDGET. IN 2014, CEI ENGAGED AN INDEPENDENT HR CONSULTANT TO PERFORM A COMPANY-WIDE COMPENSATION PROGRAM ANALYSIS. THE CONSULTANT PERFORMED A COMPREHENSIVE REVIEW AND ANALYSIS OF ALL JOB DESCRIPTIONS WITH INPUT FROM THE DEPARTMENT MANAGERS. THE CONSULTANT ALSO CONDUCTED AN EXTERNAL MARKET SURVEY OF COMPARABLE POSITIONS IN THE REGION. USING BOTH THE INTERNAL SALARY INFORMATION AND JOB DESCRIPTION ANALYSES COUPLED EXTERNAL MARKET DATA, THE CONSULTANT HELPED TO DEVELOP POSITION GRADES AND UPDATE SALARY RANGES FOR THE ORGANIZATION. THE FINDINGS AND RECOMMENDED UPDATES TO THE COMPENSATION PROGRAM WERE PRESENTED BY THE HR CONSULTANT TO THE MANAGEMENT TEAM AND BOARD OF DIRECTORS. 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 XI, LINE 9: TRANSFER OF NET ASSETS -8,050,157. 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 562538 13509696 COASTAL ENTERPRISES INC CEI FUND CAPITAL LLC 30 FEDERAL STREET BRUNSWICK ME 04011 842671059 COMMUNITY DEVELOPMENT ME 373474 124912 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 718196 10097878 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 1.00000 0 CEI VENTURES INC 30 FEDERAL STREET BRUNSWICK ME 04011 010492380 VENTURE CAPITAL INVESTMENT ME COASTAL ENTERPRISES INC C 528533 776328 1.00000 0 COASTAL COMMUNITY HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 010546740 HOUSING ME COASTAL ENTERPRISES INC C 480597 1.00000 0 POND CIRCLE INC 30 FEDERAL STREET BRUNSWICK ME 04011 010547370 HOUSING ME COASTAL ENTERPRISES INC C 58 1.00000 0 RIVERSHORE INC 30 FEDERAL STREET BRUNSWICK ME 04011 263748967 HOUSING ME COASTAL ENTERPRISES INC C 27 1.00000 0 1 1 0 1 0 0 0 0 0 1 0 1 1 1 0 1 1 0 0 MARKET SQUARE HOUSING LP A FMV CCML HOLDINGS INC L FMV BC HOUSING INC B FMV CCML HOLDINGS INC J FMV POND CIRCLE LP D FMV