2020-08-17T16:21:10-05:00 2019-09-30 221478099 COHNREZNICK LLP 1301 AVENUE OF THE AMERICAS NEW YORK NY 10019 990 2018-10-01 010347504 COASTAL ENTERPRISES INC COAS 2075045900 30 FEDERAL STREET BRUNSWICK ME 04011 DAVID WEDICK CFO & SECRETARY 2075045900 2020-08-17 1 LORI ROTHE YOKOBOSKY CPA P01273422 2122970400 2020-08-17 209.59.242.22 2020-08-17 14:52:00 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 2018 2020-09-23 17:36:50Z ELISABETH BIEMANN 30 FEDERAL STREET BRUNSWICK ME 04011 21356277 0 X WWW.CEIMAINE.ORG X 1977 ME GROW GOOD JOBS, ENVIRONMENTALLY SUSTAINABLE ENTERPRISES AND MORE BROADLY SHARED PROSPERITY 18 18 68 80 0 0 5960253 5494429 2910596 2827514 3046126 275315 1036632 815994 12953607 9413252 91252 50369 0 0 5706257 5746516 0 0 292793 8603306 5512230 14400815 11309115 -1447208 -1895863 105573995 105726277 68201938 63966848 37372057 41759429 CEI INTEGRATES FINANCING, BUSINESS AND INDUSTRY EXPERTISE, AND POLICY SOLUTIONS TO HELP GROW GOOD JOBS, ENVIRONMENTALLY-SUSTAINABLE ENTERPRISES, AND SHARE PROSPERITY IN MAINE AND OTHER RURAL REGIONS. 0 0 7777819 50369 3643508 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. 7777819 1 1 0 1 0 0 0 0 0 0 1 0 1 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 61 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 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 DAVID VAIL OUTGOING DIRECTOR 1.00 X 0 0 0 GLENN CUMMINGS OUTGOING 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 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 CHAIR 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 JENNIFER KANWIT ASSISTANT SECRETARY 40.00 X 38194 0 25799 KEITH BISSON PRESIDENT 39.00 1.00 X 180720 0 9036 ELIZABETH ROGERS SVP, COMMUNICATIONS OFFICER 40.00 X 107363 0 43406 JESSE COLE SVP, INFORMATION TECHNOLOGY 40.00 X 130593 0 31402 JOHN EGAN CHIEF INVESTMENT OFFICER 40.00 X 113054 0 42965 917935 0 213587 6 0 1 0 0 3005140 2489289 5494429 INTEREST ON LOAN 900099 2500051 2500051 FEE INCOME 900099 327463 327463 2827514 247758 247758 19110 0 19110 19110 19110 4346284 7624298 4220964 7722061 125320 -97763 27557 27557 MANAGEMENT FEE 900099 434395 434395 BAD DEBT RECOVERY 900099 308337 308337 ANNUAL MEETINGS 900099 50410 50410 3742 3742 796884 9413252 3643508 0 275315 50369 50369 708572 378808 299566 30198 3975955 2125592 1680930 169433 161622 86405 68329 6888 900367 481347 380652 38368 14000 8872 4948 180 191971 121651 67842 2478 145505 92206 51421 1878 8316 8316 16775 16775 848608 564295 274294 10019 62460 37875 22579 2006 158311 100321 55946 2044 260810 165274 92169 3367 380131 322810 50761 6560 139267 84450 50344 4473 65067 39456 23521 2090 2053201 2053201 354474 301022 47335 6117 138805 117874 18536 2395 PROVISION FOR LOAN LOSS 338595 338595 PROVISION FOR BAD DEBT 107341 107341 STAFF DEVELOPMENT 90989 55175 32892 2922 REPAIRS & MAINTENANCE 79826 67789 10660 1377 57778 52000 5778 11309115 7777819 3238503 292793 929435 2379673 24886012 21231392 341486 414780 22635083 17027847 38187902 44504023 150275 198464 9799190 2285570 8291108 7513620 10095290 12456478 57404 0 105573995 105726277 934214 897387 328481 86333 246712 238682 58722592 57215172 7969939 5529274 68201938 63966848 X 30941527 35019636 2075784 6739793 4354746 0 37372057 41759429 105573995 105726277 X -1895863 3837761 2445474 X X 0 1 X 1 1 1 X 2709241 1763586 7039321 5960253 5494429 22966830 2709241 1763586 7039321 5960253 5494429 22966830 238899 22727931 120900 289071 230499 312382 266868 1219720 255201 173939 361799 849943 796884 2437766 26624316 24764198 0.85370 0.83600 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: ANNUAL MEETING - 2014 AMOUNT: $ 49,614. 2015 AMOUNT: $ 98,596. 2017 AMOUNT: $ 59,361. 2018 AMOUNT: $ 50,410. BAD DEBT RECOVERY - 2014 AMOUNT: $ 133,485. 2015 AMOUNT: $ 75,343. 2016 AMOUNT: $ 313,485. 2017 AMOUNT: $ 370,281. 2018 AMOUNT: $ 308,337. WORKSHOP INCOME - 2016 AMOUNT: $ 24,913. 2017 AMOUNT: $ 22,024. MISCELLANEOUS INCOME - 2014 AMOUNT: $ 72,102. 2016 AMOUNT: $ 23,401. 2017 AMOUNT: $ 30,688. 2018 AMOUNT: $ 3,742. MANAGEMENT FEES - 2017 AMOUNT: $ 367,589. 2018 AMOUNT: $ 434,395. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11178 11178 7518120 7529298 526465 131616 0 0 697513 590346 723948 526465 2538272 3807408 27493 30569 22899 11178 92139 174378 147587 180987 131616 634568 951852 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. 806577 806577 7168833 938452 6230381 29964 25904 4060 1194143 1042896 151247 599673 278318 321355 7513620 INVESTMENTS - PROGRAM RELATED 12456478 C 12456478 SECURITY DEPOSITS 14097 SUBORDINATED DEBT 5515177 5529274 X 24495555 3837761 122590 11121952 15082303 9413252 0 9413252 18477495 122590 7045790 7168380 11309115 0 11309115 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 YEAR ENDED SEPTEMBER 30, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS REVENUES 16,207,784. INTERCOMPANY ELIMINATIONS -5,085,832. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ORGANIZATIONS EXPENSES 8,217,592. INTERCOMPANY ELIMINATIONS -1,171,802. 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 OFFICER 107363 0 0 0 0 0 6001 0 37405 0 150769 0 0 0 JESSE COLE SVP, INFORMATION TECHNOLOGY 130593 0 0 0 0 0 6774 0 24628 0 161995 0 0 0 JOHN EGAN CHIEF INVESTMENT OFFICER 112956 0 0 0 98 0 6260 0 36705 0 156019 0 0 0 DAVID VAIL BOARD MEMBER FOR CEI TO ONLEND X 10000 11157 0 1 1 DAVID VAIL BOARD MEMBER FOR CEI TO ONLEND X 10000 22024 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 34736 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 5494 0 1 1 KARIN GREGORY BOARD MEMBER FOR CEI TO ONLEND X 5000 5786 0 1 1 MIKE FINNEGAN FORMER OFFICER FOR CEI TO ONLEND X 10000 12203 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 37889 0 1 1 SUE INCHES FORMER BOARD MEMBER FOR CEI TO ONLEND X 10000 11786 0 1 1 238682 FORM 990, PART VI, SECTION B, LINE 11B CEI'S FORM 990 IS THOROUGHLY REVIEWED BY THE DIRECTOR OF FINANCE 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 AND DISCUSSES THE FOR 990 AND RELATED SCHEDULES. UPON SATISFACTORY COMPLETION OF THE COMMITTEE'S REVIEW, A RESOLUTION IS PASSED AUTHORIZING THE PRESIDENT 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 XI, LINE 9: TRANSFER OF NET ASSETS 2,445,474. 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. FORM 990, PART XI, LINE 9 EQUITY CONTRIBUTION TO CEI 7(A) FINANCING LLC 300,000 EQUITY CONTRIBUTION TO 30 FEDERAL STREET INVESTMENTS LLC 10,000 30 FEDERAL STREET INVESTMENTS LLC 30 FEDERAL STREET BRUNSWICK ME 04011 813520178 FINANCING ME 51388 5724922 COASTAL ENTERPRISE INC BRIGHT COMMUNITY CAPITAL HOLDINGS LLC 30 FEDERAL STREET BRUNSWICK ME 04011 824156609 FINANCING ME -228533 1550310 COASTAL ENTERPRISE INC BRIGHT COMMUNITY LOAN FUND I LLC 30 FEDERAL STREET BRUNSWICK ME 04011 822674348 FINANCING ME -21739 5843 COASTAL ENTERPRISE INC CEI CAPITAL FUND 30 FEDERAL STREET BRUNSWICK ME 04011 842671059 FINANCING ME -54576 198082 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 LOW INCOME HOUSING ME N/A CEI CAPITAL MANAGEMENT LLC 30 FEDERAL STREET BRUNSWICK ME 04011 460496505 LOW INCOME HOUSING ME COASTAL ENTERPRISES INC RELATED 3146051 10267554 0 1 0.99990 CEI COMMUNITY VENTURES FUND LLC 30 FEDERAL STREET BRUNSWICK ME 04011 010543608 LOW INCOME HOUSING ME N/A CHOM HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 LOW INCOME 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 GILMAN PLACE ASSOCIATES LP 30 FEDERAL STREET BRUNSWICK ME 04011 263748816 LOW INCOME HOUSING ME N/A MARKET SQUARE HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 203866663 LOW INCOME HOUSING ME N/A POND CIRCLE LP 30 FEDERAL STREET BRUNSWICK ME 04011 LOW INCOME HOUSING ME N/A RIVERSHORE PLACE HOUSING LP 30 FEDERAL STREET BRUNSWICK ME 04011 LOW INCOME HOUSING ME N/A BC HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 412028826 LOW INCOME HOUSING ME CEI C -818 179750 1.00000 0 BIRCH HILL INC 30 FEDERAL STREET BRUNSWICK ME 04011 261265392 LOW INCOME HOUSING ME CEI C -700 1.00000 0 CCML HOLDINGS INC 30 FEDERAL STREET BRUNSWICK ME 04011 463914307 LOW INCOME HOUSING 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 434995 800950 1.00000 0 COASTAL COMMUNITY HOUSING INC 30 FEDERAL STREET BRUNSWICK ME 04011 010546740 LOW INCOME HOUSING ME CEI C -870 134 1.00000 0 GILMAN PLACE INC 30 FEDERAL STREET BRUNSWICK ME 04011 263748761 LOW INCOME HOUSING ME CEI C 14607 1.00000 0 HOULTON SQUARE INC 30 FEDERAL STREET BRUNSWICK ME 04011 271193231 LOW INCOME HOUSING ME CEI C -11971 45 1.00000 0 POND CIRCLE INC 30 FEDERAL STREET BRUNSWICK ME 04011 010547370 LOW INCOME HOUSING ME CEI C 23840 14525 1.00000 0 RIVERSHORE INC 30 FEDERAL STREET BRUNSWICK ME 04011 263748967 LOW INCOME HOUSING ME CEI C -25801 50049 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 95682 FMV CCML HOLDINGS INC L 383604 FMV BC HOUSING INC B 153514 FMV CCML HOLDINGS INC J 90298 FMV POND CIRCLE LP D 147777 FMV