2021-08-12T12:24:32-05:00 2020-09-30 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2019-10-01 010347504 COASTAL ENTERPRISES INC COAS 2075045900 30 FEDERAL STREET BRUNSWICK ME 04011 ELISABETH BIEMANN CEO 2075045900 2021-08-11 1 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2021-08-11 2019 2022-09-23 18:48:47Z ELISABETH BIEMANN 30 FEDERAL STREET BRUNSWICK ME 04011 19928082 0 X WWW.CEIMAINE.ORG X 1977 ME GROW GOOD JOBS, ENVIRONMENTALLY SUSTAINABLE ENTERPRISES AND MORE BROADLY SHARED PROSPERITY 17 17 68 30 0 0 5494429 6815694 2827514 3243301 275315 1084435 815994 870010 9413252 12013440 50369 8250 0 0 5746516 6237307 0 0 539387 5512230 6051661 11309115 12297218 -1895863 -283778 105726277 99554541 63966848 65000480 41759429 34554061 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 7364915 8250 4113311 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. 7364915 1 1 0 1 0 0 0 0 0 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 57 0 1 68 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 ME X DAVID WEDICK 2075045860 30 FEDERAL STREET BRUNSWICK ME 04011 ANGELA BUTLER DIRECTOR 1.00 X 0 0 0 BETH MATTINGLY DIRECTOR 1.00 X 0 0 0 CATHERINE GODSCHALK DIRECTOR 1.00 X 0 0 0 CHARLES RUDELITCH DIRECTOR 1.00 X 0 0 0 CHIP NEWELL DIRECTOR 1.00 X 0 0 0 CHRISTA VELASQUEZ BOARD CHAIR 1.00 X X 0 0 0 CORDELIA PITMAN DIRECTOR 1.00 X 0 0 0 IAN YAFFE DIRECTOR 1.00 X 0 0 0 JOHN DORRER DIRECTOR 1.00 X 0 0 0 JOSH DAVIS DIRECTOR 1.00 X 0 0 0 JUSTIN MAXSON DIRECTOR 1.00 X 0 0 0 KARIN GREGORY OUTGOING DIRECTOR 1.00 X 0 0 0 KEVIN LEWIS DIRECTOR 1.00 X 0 0 0 MIRIAM SHARK DIRECTOR 1.00 X 0 0 0 REGINA PHILLIPS DIRECTOR 1.00 X 0 0 0 SCOTT KENNEY DIRECTOR 1.00 X 0 0 0 STEWART SMITH DIRECTOR 1.00 X 0 0 0 SUSAN HAMMOND BOARD OF DIRECTORS VICE CH 1.00 X X 0 0 0 DAVID WEDICK CFO & SECRETARY 39.00 1.00 X 169269 0 26174 ELISABETH BIEMANN CEO 40.00 X 178742 0 34805 KEITH BISSON PRESIDENT 39.00 1.00 X 180720 0 9036 ELIZABETH ROGERS SVP, COMMUNICATIONS OFFICE 40.00 X 107363 0 43406 JESSE COLE SVP, INFORMATION TECHNOLOG 40.00 X 130593 0 31402 JOHN EGAN CHIEF INVESTMENT OFFICER 40.00 X 113054 0 42965 879741 0 187788 6 0 1 0 COHNREZNICK LLP 1301 AVENUE OF AMERICAS NEW YORK NY 10019 AUDIT SERVICES 148824 1 3325178 3490516 6815694 INTEREST ON LOAN 900099 2860051 2860051 FEE INCOME 900099 383250 383250 3243301 183534 183534 11500 0 11500 11500 11500 939995 7875548 928137 6986505 11858 889043 900901 900901 MANAGEMENT FEE 900099 454591 454591 BAD DEBT RECOVERY 900099 249633 249633 OTHER INCOME 900099 154286 154286 858510 12013440 4113311 0 1084435 X 8250 8250 605806 305411 264594 35801 4549052 2293360 1986861 268831 191916 96753 83822 11341 890533 448954 388952 52627 140382 35789 104593 199645 50897 148748 15500 15500 18324 18324 1511034 804171 634435 72428 76394 25780 30391 20223 287626 16334 271120 172 233638 13268 220230 140 249014 174776 61124 13114 58181 19634 23146 15401 39820 13438 15841 10541 1580556 1580556 381560 267806 93659 20095 118969 83501 29202 6266 PROVISION FOR LOAN LOSS 885549 885549 PROVISION FOR BAD DEBT 96102 96102 REPAIRS & MAINTENANCE 73111 51315 17946 3850 STAFF DEVELOPMENT 32324 10908 12859 8557 53932 48539 5393 12297218 7364915 4392916 539387 2379673 2188740 21231392 21190823 414780 883019 17027847 14773427 44504023 45266793 198464 215713 11168251 957338 7513620 10210913 12456478 4752063 0 73050 105726277 99554541 897387 1559733 86333 376221 238682 229350 57215172 57313214 5529274 5521962 63966848 65000480 X 35019636 27770228 6739793 6783833 41759429 34554061 105726277 99554541 X -283778 -182285 -6739305 X X 0 1 X 1 1 1 X 1763586 7039321 5960253 5494429 6815694 27073283 1763586 7039321 5960253 5494429 6815694 27073283 1633559 25439724 289071 230499 312382 266868 183534 1282354 173939 361799 849943 796884 858510 3041075 31396712 20316502 0.81030 0.85370 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ANNUAL MEETING - 2015 AMOUNT: $ 98,596. 2017 AMOUNT: $ 59,361. 2018 AMOUNT: $ 50,410. BAD DEBT RECOVERY - 2015 AMOUNT: $ 75,343. 2016 AMOUNT: $ 313,485. 2017 AMOUNT: $ 370,281. 2018 AMOUNT: $ 308,337. 2019 AMOUNT: $ 249,633. 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. MANAGEMENT FEES - 2017 AMOUNT: $ 367,589. 2018 AMOUNT: $ 434,395. 2019 AMOUNT: $ 454,591. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2032 2032 7364915 7366947 518347 129587 0 0 590346 723948 526465 518347 2359106 3538659 30569 22899 11178 2032 66678 147587 180987 131616 129587 589777 884666 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. 787836 787836 9001569 920474 8081095 4450 853 3597 82651 31175 51476 1291745 4836 1286909 10210913 SUBORDINATED DEBT 5521962 5521962 X 18029229 -182285 105450 6092624 6015789 12013440 0 12013440 18702180 105450 6299512 6404962 12297218 0 12297218 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, 2020 AND 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS REVENUES 8,154,789. INTERCOMPANY ELIMINATIONS -2,062,165. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS EXPENSES 7,991,485. INTERCOMPANY ELIMINATIONS -1,691,973. X X X 0 0 0 0 0 0 0 0 0 DAVID WEDICK CFO & SECRETARY 169269 0 0 0 0 0 8703 0 17471 0 195443 0 0 0 ELISABETH BIEMANN CEO 178742 0 0 0 0 0 9270 0 25535 0 213547 0 0 0 KEITH BISSON PRESIDENT 180720 0 0 0 0 0 9036 0 0 0 189756 0 0 0 ELIZABETH ROGERS SVP, COMMUNICATIONS OFFICE 107363 0 0 0 0 0 6001 0 37405 0 150769 0 0 0 JESSE COLE SVP, INFORMATION TECHNOLOG 130593 0 0 0 0 0 6774 0 24628 0 161995 0 0 0 JOHN EGAN CHIEF INVESTMENT OFFICER 113054 0 0 0 0 0 6260 0 36705 0 156019 0 0 0 DAVID VAIL FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 22468 0 1 1 DAVID VAIL FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 11381 0 1 1 ELISABETH BIEMANN OFFICER FOR CEI TO ONLEND X 15000 16766 0 1 1 ELISABETH BIEMANN OFFICER FOR CEI TO ONLEND X 5000 5336 0 1 1 ELLEN GOLDEN FORMER OFFICER FOR CEI TO ONLEND X 30000 35432 0 1 1 ELLEN SEIDMAN FORMER BOARD MEMBER FOR CEI TO ONLEND X 15000 15000 0 1 1 ELLEN SEIDMAN FORMER BOARD MEMBER FOR CEI TO ONLEND X 50000 50000 0 1 1 IAN YAFFE BOARD MEMBER FOR CEI TO ONLEND X 5000 5604 0 1 1 KARIN GREGORY BOARD MEMBER FOR CEI TO ONLEND X 5000 5931 0 1 1 RON PHILLIPS FORMER BOARD MEMBER FOR CEI TO ONLEND X 25000 10505 0 1 1 CHIP NEWELL BOARD MEMBER FOR CEI TO ONLEND X 30000 38844 0 1 1 SUE INCHES FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 12083 0 1 1 229350 FORM 990, PART VI, SECTION B, LINE 11B CEI'S FORM 990 IS THOROUGHLY REVIEWED BY THE DIRECTOR OF ACCOUNTING AND THE CHIEF FINANCIAL OFFICER. THE RETURN IS THEN PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS BY THE CHIEF FINANCIAL OFFICER. THE COMMITTEE REVIEWS THE FORM 990 AND RELATED SCHEDULES. UPON SATISFACTORY COMPLETION OF THE COMMITTEE'S REVIEW, A RESOLUTION IS PASSED AUTHORIZING THE PRESIDENT OR CHIEF FINANCIAL OFFICER TO SIGN THE FORM 8879-EO. A FINAL DRAFT IS MADE AVAILABLE TO THE BOARD BEFORE FILING. 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 IX, LINE 11G OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 804,171. MANAGEMENT AND GENERAL EXPENSES 634,435. FUNDRAISING EXPENSES 72,428. TOTAL EXPENSES 1,511,034. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS -6,739,305. 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 862376 9190958 COASTAL ENTERPRISE INC BRIGHT COMMUNITY CAPITAL HOLDINGS LLC 30 FEDERAL STREET BRUNSWICK ME 04011 824156609 COMMUNITY DEVELOPMENT ME 304212 4777620 COASTAL ENTERPRISE INC CEI CAPITAL FUND 30 FEDERAL STREET BRUNSWICK ME 04011 842671059 COMMUNITY DEVELOPMENT ME 350000 188400 COASTAL ENTERPRISE INC CEI HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 223080013 LOW INCOME HOUSING ME 501(C)(3) 9 COASTAL ENTERPRISE INC 1 WISCASSET REGIONAL DEVELOPMENT CORP 485 CHEWONKI NECK ROAD WISCASSET ME 04578 300220853 EMPLOYMENT OPPORTUN IN WISCASSET AREA ME 501(C)(3) 7 COASTAL ENTERPRISE INC 1 BC HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A CEI CAPITAL MANAGEMENT LLC 30 FEDERAL STREET BRUNSWICK ME 04011 460496505 COMMUNITY DEVELOPMENT ME COASTAL ENTERPRISES INC RELATED 165451 8612380 0 1 0.99990 CEI COMMUNITY VENTURES FUND LLC 30 FEDERAL STREET BRUNSWICK ME 04011 010543608 VENTURE CAPITAL INVESTMENT ME N/A CHOM HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A COASTAL VENTURES II LLC 30 FEDERAL STREET BRUNSWICK ME 04011 010538818 VENTURE CAPITAL INVESTMENT ME N/A COASTAL VENTURES III LP 30 FEDERAL STREET BRUNSWICK ME 04011 262795010 VENTURE CAPITAL INVESTMENT ME N/A COASTAL VENTURES IV LP 30 FEDERAL STREET BRUNSWICK ME 04011 472445874 VENTURE CAPITAL INVESTMENT ME N/A MARKET SQUARE HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 203866663 HOUSING ME N/A POND CIRCLE LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A RIVERSHORE PLACE HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 HOUSING ME N/A BC HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 412028826 HOUSING ME CEI C 179760 1.00000 0 BIRCH HILL INC 30 FEDERAL STREET BRUNSWICK ME 04011 261265392 HOUSING ME CEI C 1.00000 0 CCML HOLDINGS INC 30 FEDERAL STREET BRUNSWICK ME 04011 463914307 COMMUNITY DEVELOPMENT ME N/A C 0 CEI COMMUNITY VENURES INC 30 FEDERAL STREET BRUNSWICK ME 04011 VENTURE CAPITAL INVESTMENT ME CEI C 1.00000 0 CEI VENTURES INC 30 FEDERAL STREET BRUNSWICK ME 04011 010492380 VENTURE CAPITAL INVESTMENT ME CEI C 539769 892655 1.00000 0 COASTAL COMMUNITY HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 010546740 HOUSING ME CEI C 480609 1.00000 0 HOULTON SQUARE INC 30 FEDERAL STREET BRUNSWICK ME 04011 271193231 HOUSING ME CEI C 1.00000 0 POND CIRCLE INC 30 FEDERAL STREET BRUNSWICK ME 04011 010547370 HOUSING ME CEI C 11909 1.00000 0 RIVERSHORE INC 30 FEDERAL STREET BRUNSWICK ME 04011 263748967 HOUSING ME CEI C 75035 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