Is Coastal Economic Development Corporation Legit?
Quick charity verification for Coastal Economic Development Corporation (EIN: 20511564)
Verdict: Coastal Economic Development Corporation shows mixed signals
45/100Mission Score
$275KRevenue
$0Assets
4Red Flags
2Strengths
Red Flags
Sudden and unexplained disappearance of all assets ($4.5M to $0) between 202106 and 202112.
Consistent decline in revenue and assets over the past decade, indicating potential operational scaling back or financial distress.
Reporting 0% officer compensation across all filings, which is highly unusual and may warrant further scrutiny.
Latest reported assets are $0, raising concerns about financial stability and capacity.
Strengths
Consistently reports 0% officer compensation, indicating resources are not being used for executive salaries.
Maintained a positive net income in the most recent filing period (202112: Revenue $189,241, Expenses $150,713).
Spending Breakdown
How Coastal Economic Development Corporation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Coastal Economic Development Corporation
Is Coastal Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Coastal Economic Development Corporation (EIN: 20511564) shows mixed signals. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
Is Coastal Economic Development Corporation a good charity to donate to?
Coastal Economic Development Corporation has a Mission Score of 45/100. Revenue: $275K. Assets: $0. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Coastal Economic Development Corporation?
The Employer Identification Number (EIN) for Coastal Economic Development Corporation is 20511564. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Coastal Economic Development Corporation spend its money?
Coastal Economic Development Corporation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Coastal Economic Development Corporation's tax-exempt status?
You can verify Coastal Economic Development Corporation's tax-exempt status using EIN 20511564 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Coastal Economic Development Corporation (CEDC) exhibits a concerning trend of declining revenue and assets over the past decade, with a particularly sharp drop in assets from $7.6 million in 2013 to $0 in the latest filing period (202112). While the organization consistently reports 0% officer compensation, which is a positive for resource allocation, the significant reduction in financial scale raises questions about its operational capacity and long-term sustainability. The most recent filing (202112) shows revenue of $189,241 and expenses of $150,713, indicating a surplus for that period, but this is a stark contrast to earlier periods where revenue was often over $500,000. The sudden disappearance of assets from $4.5 million in 202106 to $0 in 202112, without corresponding liabilities, warrants further investigation to understand the underlying financial restructuring or dissolution.