Coastal Connections Inc

Analysis

Coastal Connections Inc is a registered charity in United States, based in Amesbury, MA. It received its IRS tax-exemption ruling in January 2009, 17 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Coastal Connections Inc reported income of $3.1m and spending of $2.8m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.1m (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2022, when income rose by 65%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Coastal Connections Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Northern Panhandle Workforce Development Board Inc ($3.1m), Rural Missouri Incorporated ($3.1m) and Community Forklift ($3.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $259k (9.1% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $3.7m against liabilities of $643k, net assets of $3.0m. It reported 56 employees.