Coastal Enterprises Inc

Analysis

Coastal Enterprises Inc is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in October 1978, 48 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Coastal Enterprises Inc reported income of $22.6m and spending of $18.7m, spending 83% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $9.4m to $22.6m (+141%), an average of +24% a year. The sharpest change came in the year to September 2021, when income rose by 262%. Over the whole period it spent 83% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Coastal Enterprises Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within ME. Charities of a similar size with the same main cause include Homeward Bound of Marin ($22.6m), Ihs the Institute for Human Services Inc ($22.7m) and Raymore Senior Care LLC ($22.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 60% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $653k (3.5% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $125.9m against liabilities of $82.3m, net assets of $43.5m. It reported 70 employees.