COASTAL GATEWAY REGIONAL ECONOMIC … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

VINCE JOHNSON

Phone

2512482143

Tax Period

2020-10-01 to 2021-09-30

COASTAL GATEWAY REGIONAL ECONOMIC DEVELOPMENT ALLIANCE, founded in 2010, is a micro nonprofit that reported $1K in total revenue in fiscal year 2020. Revenue fell 99% from the prior year — a significant decline worth monitoring. Expenses of $4K exceeded revenue, resulting in a 217% operating deficit.

Mission

TO MARKET AND PROMOTE THE ASSETS OF A FIVE COUNTY REGION IN ORDER TO ATTRACT NEW BUSINESSES TO THE AREA. THE ENTITY WILL CARRY OUT ITS MISSION BY PARTNERING WITH LOCAL CHAMBERS OF COMMERCE, THE LOCAL ECONOMIC DEVELOPMENT AUTHORITIES AND LOCAL BUSINESSES AND GOVERNMENTAL LEADERS TO MARKET AND PROMOTE THE REGION.

Program Service Accomplishments

Program 1

Expenses: $4,003

IT IS MORE DIFFICULT FOR A RURAL INDIVIDUAL COMMUNITY OR COUNTY TO EFFECTIVELY MOUNT THE TYPE OF MARKETING CAMPAIGN NEEDED TO ATTRACT NEW BUSINESSES AND INDUSTRIES TO AN AREA. THESE SMALLER...

IT IS MORE DIFFICULT FOR A RURAL INDIVIDUAL COMMUNITY OR COUNTY TO EFFECTIVELY MOUNT THE TYPE OF MARKETING CAMPAIGN NEEDED TO ATTRACT NEW BUSINESSES AND INDUSTRIES TO AN AREA. THESE SMALLER COMMUNITIES OFTEN HAVE LIMITED BUDGETS, TIME AND IN SOME CASES, EXPERTISE. THE ENTITY WAS ABLE TO PROVIDE THE TYPE OF REPRESENTATION THESE COMMUNITIES COULD NOT HAVE GOTTEN ON THEIR OWN. COLLECTIVE MARKETING ACTIVITIES WAS A BENEFIT FOR EACH AREA OF THE REPRESENTED REGION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $1,262

Program Service Revenue $0

Investment Income $1

Other Revenue $0

TOTAL REVENUE $1,263

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $4,003

Other Expenses $4,003

TOTAL EXPENSES $4,003

Year-over-Year Comparison

	2020	2019	Change
Revenue	$1,263	$99,505	-1.0%
Expenses	$4,003	$80,252	-1.0%
Net Income	$-2,740	$19,253	-1.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETE BLACK	DIRECTOR	N/A	Director	$0	$0	$0
PETE BLACK	DIRECTOR	N/A	Director	$0	$0	$0
MARK BURGESS	DIRECTOR	N/A	Director	$0	$0	$0
TIM DANTZ	DIRECTOR	N/A	Director	$0	$0	$0
GLEN DAVIS	DIRECTOR	N/A	Director	$0	$0	$0
PAUL ENGLAND	DIRECTOR	N/A	Director	$0	$0	$0
CHIP HARRIGAN	DIRECTOR	N/A	Director	$0	$0	$0
JOHN BARNETT III	DIRECTOR	N/A	Director	$0	$0	$0
VINCE JOHNSON	CHAIRMAN	N/A	Director	$0	$0	$0
BOB JONES	DIRECTOR	N/A	Director	$0	$0	$0
BRYAN JONES	DIRECTOR	N/A	Director	$0	$0	$0
YANK LOVELACE	DIRECTOR	N/A	Director	$0	$0	$0
TIM MARTIN	DIRECTOR	N/A	Director	$0	$0	$0
TOM MCMILLAN	DIRECTOR	N/A	Director	$0	$0	$0
LEONARD MILLENDER	DIRECTOR	N/A	Director	$0	$0	$0
JOSEPH OGLESBY	DIRECTOR	N/A	Director	$0	$0	$0
WILLIAM SNYDER	DIRECTOR	N/A	Director	$0	$0	$0
PAUL SOUTH	DIRECTOR	N/A	Director	$0	$0	$0
JIM STAFF	VICE-CHAIRMA	N/A	Director	$0	$0	$0
RAYMOND WIGGINS	DIRECTOR	N/A	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2021	$1,263	$4,003	$102,876	$-2,740
2020	$99,505	$80,252	$107,084	$19,253
2019	$280,012	$250,362	$89,165	$29,650
2018	$234,813	$298,111	$61,955	$-63,298

COASTAL GATEWAY REGIONAL ECONOMIC DEVELOPMENT ALLIANCE