Coastal Economic Development Corporation

Coastal Economic Development Corporation's assets plummeted to zero in 2021, raising questions about its financial stability.

EIN: 20511564 · Raymond, NH · NTEE: S30 · Updated: 2026-03-28

$275KRevenue

$0Assets

45/100Mission Score (Fair)

S30

About Coastal Economic Development Corporation

Coastal Economic Development Corporation (EIN: 20511564) is a nonprofit organization based in Raymond, NH, classified under NTEE code S30. The organization reported total revenue of $275K and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Coastal Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

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.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Coastal Economic Development Corporation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Coastal Economic Development Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported at 0% across all available filings, indicating that no officers received compensation, which is highly unusual for an organization of its former size and suggests either a fully volunteer-run leadership or compensation being reported under other expense categories.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Coastal Economic Development Corporation's IRS 990 filings:

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

The following positive indicators were identified for Coastal Economic Development Corporation:

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).

Frequently Asked Questions about Coastal Economic Development Corporation

What caused the dramatic decrease in Coastal Economic Development Corporation's assets from $4,541,991 in 202106 to $0 in 202112?

The filings do not provide an explanation for this significant and rapid asset reduction. It could indicate a major restructuring, asset transfer, or potential dissolution.

How does Coastal Economic Development Corporation sustain operations with $0 in reported assets?

With $0 in reported assets, the organization's ability to operate and fulfill its mission is severely constrained, relying solely on incoming revenue to cover immediate expenses, as seen in the 202112 period where revenue exceeded expenses.

Is the 0% officer compensation accurate, or is compensation being reported in other expense categories?

While consistently reported as 0%, it is uncommon for an organization of this scale (even at its reduced size) to have no compensated officers. Further review of detailed expense breakdowns would be needed to confirm if compensation is hidden elsewhere.

What is the long-term viability of Coastal Economic Development Corporation given its declining revenue and asset base?

The trend of declining revenue and the current lack of assets suggest significant challenges to the organization's long-term viability and capacity to achieve its mission effectively.

Filing History

IRS 990 filing history for Coastal Economic Development Corporation showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2011–2021), Coastal Economic Development Corporation's revenue has declined by 84.4%, moving from $1.2M to $189K. Total assets decreased by 100% over the same period, from $6.3M to $0. Total functional expenses fell by 76.3%, from $635K to $151K. In its most recent filing year (2021), Coastal Economic Development Corporation reported a surplus of $39K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2021	$189K	$151K	$0	$0	—	—
2021	$312K	$292K	$4.5M	$2.3M	—	—
2020	$363K	$309K	$5.2M	$3.0M	—	View 990
2019	$261K	$263K	$4.9M	$2.7M	—	View 990
2018	$283K	$259K	$4.8M	$2.6M	—	View 990
2017	$423K	$314K	$5.2M	$3.0M	—	View 990
2016	$589K	$559K	$6.6M	$4.5M	—	View 990
2015	$603K	$592K	$7.1M	$5.1M	—	View 990
2014	$1.1M	$1.1M	$7.4M	$5.3M	—	View 990
2013	$597K	$673K	$7.7M	$5.6M	—	View 990
2012	$795K	$598K	$7.4M	$4.9M	—	View 990
2011	$1.2M	$635K	$6.3M	$4.0M	—	View 990

Year-by-Year Financial Summary

2021: Revenue of $189K, expenses of $151K, and assets of $0 (revenue -39.4% year-over-year).
2021: Revenue of $312K, expenses of $292K, and assets of $4.5M (revenue -13.9% year-over-year).
2020: Revenue of $363K, expenses of $309K, and assets of $5.2M (revenue +39.1% year-over-year).
2019: Revenue of $261K, expenses of $263K, and assets of $4.9M (revenue -8.0% year-over-year).
2018: Revenue of $283K, expenses of $259K, and assets of $4.8M (revenue -33.0% year-over-year).
2017: Revenue of $423K, expenses of $314K, and assets of $5.2M (revenue -28.2% year-over-year).
2016: Revenue of $589K, expenses of $559K, and assets of $6.6M (revenue -2.3% year-over-year).
2015: Revenue of $603K, expenses of $592K, and assets of $7.1M (revenue -44.3% year-over-year).
2014: Revenue of $1.1M, expenses of $1.1M, and assets of $7.4M (revenue +81.2% year-over-year).
2013: Revenue of $597K, expenses of $673K, and assets of $7.7M (revenue -24.9% year-over-year).
2012: Revenue of $795K, expenses of $598K, and assets of $7.4M (revenue -34.3% year-over-year).
2011: Revenue of $1.2M, expenses of $635K, and assets of $6.3M.

Data Sources and Methodology

This transparency report for Coastal Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.