COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY INC

EIN: 581395933

BRUNSWICK, GA

Total Revenue
$1,430,049
Total Expenses
$936,707
Total Assets
$24,790,811
Net Assets
$23,572,563
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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
1976
Legal Domicile
GA
Principal Officer
TERRENCE LOUK
Phone
9122612500
Tax Period
2024-10-01 to 2025-09-30

COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY INC, founded in 1976, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $493K, a strong 34% operating margin.

Mission

ECONOMIC DEVELOPMENT LENDING.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $683,330
Investment Income $342,008
Other Revenue $404,711
TOTAL REVENUE $1,430,049

Expense Breakdown

Grants Paid $0
Salaries & Benefits $564,185
Fundraising Expenses $0
Program Expenses $418,131
Other Expenses $372,522
TOTAL EXPENSES $936,707

Year-over-Year Comparison

2024 2023 Change
Revenue $1,430,049 $1,175,143 +0.2%
Expenses $936,707 $885,509 +0.1%
Net Income $493,342 $289,634 +0.7%
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

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Governance

Voting Members
14
Independent Members
14
Employees
7
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
1
$135,000
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TERRENCE LOUK CEO 40.00
Officer
$126,900 $8,100 $135,000
ALEX BROWN BOARD MEMBER 1.00
Director
$0 $0 $0
CHERISE CARTWRIGHT TREASURER 1.00
Director
$0 $0 $0
JAMES COUGHLIN BOARD MEMBER 1.00
Director
$0 $0 $0
KEITH CRUSAN BOARD MEMBER 1.00
Director
$0 $0 $0
PAUL DEEPIKA BOARD MEMBER 1.00
Director
$0 $0 $0
JOE FORD SECRETARY 1.00
Director
$0 $0 $0
CHRIS HARPER VICE CHAIRMA 1.00
Director
$0 $0 $0
JAMES DRAKE JR BOARD MEMBER 1.00
Director
$0 $0 $0
CEDRIC KING BOARD MEMBER 1.00
Director
$0 $0 $0
DANIEL NORMAN BOARD MEMBER 1.00
Director
$0 $0 $0
JAMES ROGERS CHAIRMAN 1.00
Director
$0 $0 $0
CRAIG ROOT BOARD MEMBER 1.00
Director
$0 $0 $0
KIMBALL WARNOCK BOARD MEMBER 1.00
Director
$0 $0 $0
PATRICK WOOCK BOARD MEMBER 1.00
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
2025 $1,430,049 $936,707 $24,790,811 $493,342
2024 $1,175,143 $885,509 $24,091,014 $289,634
2023 $1,036,906 $717,642 $23,718,712 $319,264
2022 $6,775,670 $1,296,448 $23,475,246 $5,479,222
2021 $4,996,288 $1,188,438 $17,833,341 $3,807,850
2020 $874,250 $836,123 $13,847,292 $38,127
2019 $893,295 $825,631 $13,870,318 $67,664
2018 $865,092 $863,649 $13,762,362 $1,443
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