AREAWIDE DEVELOPMENT CORPORATION

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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

1981

Legal Domicile

Principal Officer

BILL POLLARD

Phone

4234244220

Tax Period

2024-10-01 to 2025-04-30

AREAWIDE DEVELOPMENT CORPORATION, founded in 1981, is a small nonprofit that reported $213K in total revenue in fiscal year 2024. Revenue fell 39% from the prior year — a significant decline worth monitoring. Expenses of $202K left a modest 5% surplus.

Mission

TO PROVIDE LONG-TERM LOANS TO SMALL BUSINESSES FOR THE PURPOSE OF CONVERSION, OR EXPANSION, INCLUDING THE ACQUISITION OF LAND, BUILDING AND LEASEHOLD IMPROVEMENTS. AREAWIDE DEVELOPMENT CORPORATION ALSO PROVIDES ALL SERVICES FOR THE LOAN PORTFOLIO. SMALL BUSINESS FINANCE IS A MOST IMPORTANT FUNCTION IN ASISTING IN THE CREATION OF PRIVATE SECTOR JOBS. AREAWIDE DEVELOPMENT CORPORATIONS PRIMARY FUNCTION AND GOAL IS PRIVATE SECTOR JOB CREATION.

Program Service Accomplishments

Program 1

Expenses: $185,521 Revenue: $186,534

PROVIDING INFORMATION ABOUT SBA LOAN PACKAGE TO POTENTIAL BORROWERS, PROVIDING ASSISTANCE THROUGHOUT THE LOAN APPLICATION PROCESS FOR THE SBA 504 LOAN PROGRAM IN THE STATE OF TENNESSEE, SERVICING THE SBA LOANS POST FUNDING. THE ORGANIZATION MERGED WITH BRIGHTBRIDGE INC. ON APRIL 30, 2025. THIS IS A FINAL TAX FILING FOR THIS ORGANIZATON.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $186,534

Investment Income $26,638

Other Revenue $0

TOTAL REVENUE $213,172

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $185,521

Other Expenses $201,656

TOTAL EXPENSES $201,656

Year-over-Year Comparison

	2024	2023	Change
Revenue	$213,172	$347,247	-0.4%
Expenses	$201,656	$345,048	-0.4%
Net Income	$11,516	$2,199	+4.2%

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

N/A

Volunteers

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
TONY THOMPSON	PRESIDENT	0.50	Officer Director	$0	$0	$0
TERI BRAHAMS	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
JIM MCBREARTY	TREASURER	0.50	Officer Director	$0	$0	$0
ROSEMARY WIGINGTON	SECRETARY	0.50	Officer Director	$0	$0	$0
GREG DAVIS	DIRECTOR	0.50	Director	$0	$0	$0
ROSA MAR	DIRECTOR	0.50	Director	$0	$0	$0
DARREN MURRAY	DIRECTOR	0.50	Director	$0	$0	$0
BILL STEVERSON	DIRECTOR	0.50	Director	$0	$0	$0
DAVID VERBLE	DIRECTOR	0.50	Director	$0	$0	$0
DEBBIE SUDHOFF	EXECUTIVE DIRECTOR	0.50	Officer	$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	$213,172	$201,656	No data	$11,516
2024	$347,247	$345,048	$1,417,816	$2,199
2023	$340,224	$362,151	$1,408,309	$-21,927
2022	$615,859	$445,864	$1,420,570	$169,995
2021	$312,901	$444,831	$2,031,577	$-131,930
2020	$385,829	$433,894	$2,184,866	$-48,065
2019	$503,266	$449,554	$2,261,039	$53,712
2018	$515,178	$657,702	$2,494,688	$-142,524