Civic Intelligence

Coastal Area District Development Authority Inc

990 • Fiscal year 2022 • EIN 58-1395933

Oct 01, 2021 to Sep 30, 2022 • Filed on Feb 09, 2023

Organization ProfileWWW.CADDA-SBA.ORG

View Organization Page

501 Gloucester Street Suite 201Brunswick, GA 31520

(912) 261-2500

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

34th percentile

0.04x

Higher debt load relative to assets than 34% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

44th percentile

0.15x

Higher debt load relative to revenue than 44% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Net Margin

94th percentile

81%

Higher net margin than 94% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

57th percentile

$179,007

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2022

Asset Growth

86th percentile

32%

Faster asset growth than 86% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

79th percentile

36%

Faster revenue growth than 79% of similar nonprofits.

2022 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$23,475,246

Up $5,641,905 (+32%) from 2021

Net Assets

Up

$22,470,323

Up $5,479,222 (+32%) from 2021

Liabilities

Up

$1,004,923

Up $162,683 (+19%) from 2021

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin94th percentile

Revenue

Up

$6,775,670

Up $1,779,382 (+36%) from 2021

Expenses

Up

$1,296,448

Up $108,010 (+9.1%) from 2021

Net Income

Up

$5,479,222

Up $1,671,372 (+44%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $15,008,057Liabilities 2010: $1,111,324Net Assets 2010: $13,896,7332010Assets 2011: $14,977,304Liabilities 2011: $1,034,139Net Assets 2011: $13,943,1652011Assets 2012: $14,967,389Liabilities 2012: $980,128Net Assets 2012: $13,987,2612012Assets 2013: $14,849,724Liabilities 2013: $922,970Net Assets 2013: $13,926,7542013Assets 2014: $14,190,495Liabilities 2014: $864,485Net Assets 2014: $13,326,0102014Assets 2015: $13,880,712Liabilities 2015: $812,547Net Assets 2015: $13,068,1652015Assets 2016: $13,844,445Liabilities 2016: $731,927Net Assets 2016: $13,112,5182016Assets 2017: $13,731,945Liabilities 2017: $655,928Net Assets 2017: $13,076,0172017Assets 2018: $13,762,362Liabilities 2018: $684,902Net Assets 2018: $13,077,4602018Assets 2019: $13,870,318Liabilities 2019: $725,194Net Assets 2019: $13,145,1242019Assets 2020: $13,847,292Liabilities 2020: $664,041Net Assets 2020: $13,183,2512020Assets 2021: $17,833,341Liabilities 2021: $842,240Net Assets 2021: $16,991,1012021Assets 2022: $23,475,246Liabilities 2022: $1,004,923Net Assets 2022: $22,470,3232022Assets 2023: $23,718,712Liabilities 2023: $929,125Net Assets 2023: $22,789,5872023Assets 2025: $24,790,811Liabilities 2025: $1,218,248Net Assets 2025: $23,572,5632025

Highlighted filing

2022

Assets$23,475,246
Liabilities$1,004,923
Net Assets$22,470,323
Open 2022 Filing

Operations Trend

Revenue Growth79th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,343,2752010Expenses 2011: $1,055,5442011Expenses 2012: $989,9082012Expenses 2013: $1,001,6602013Revenue 2014: $930,681Expenses 2014: $1,531,425Net Income 2014: -$600,7442014Revenue 2015: $844,986Expenses 2015: $1,102,831Net Income 2015: -$257,8452015Revenue 2016: $938,593Expenses 2016: $894,240Net Income 2016: $44,3532016Revenue 2017: $952,897Expenses 2017: $989,398Net Income 2017: -$36,5012017Revenue 2018: $865,092Expenses 2018: $863,649Net Income 2018: $1,4432018Revenue 2019: $893,295Expenses 2019: $825,631Net Income 2019: $67,6642019Revenue 2020: $874,250Expenses 2020: $836,123Net Income 2020: $38,1272020Revenue 2021: $4,996,288Expenses 2021: $1,188,438Net Income 2021: $3,807,8502021Revenue 2022: $6,775,670Expenses 2022: $1,296,448Net Income 2022: $5,479,2222022Revenue 2023: $1,036,906Expenses 2023: $717,642Net Income 2023: $319,2642023Revenue 2025: $1,430,049Expenses 2025: $936,707Net Income 2025: $493,3422025

Highlighted filing

2022

Revenue$6,775,670
Expenses$1,296,448
Net Income$5,479,222
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Feb 9, 2023
Return Version
2021v4.0
Gross Receipts
$7,645,266
Mission and Program Overview

Mission

Create or retain permanent jobs and increase productivity in the coastal georgia area through economic development loan programs.

Economic development lending.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$16,991,101$22,470,323▲ $5,479,222
Accounts Receivable$10,134,526$15,962,364▲ $5,827,838
Cash and Non-Interest-Bearing Accounts$6,565,191$6,994,527▲ $429,336
Land, Buildings, and Equipment, Net$3,959$186,932▲ $182,973
Pledges and Grants Receivable-$53,025-
Total Assets$17,833,341$23,475,246▲ $5,641,905
Other Assets Total$1,129,665$278,398▼ $851,267
Liabilities
Mortgage Notes Payable Secured by Investment Property$493,908$743,911▲ $250,003
Other Liabilities-$228,252-
Deferred Revenue$195,340--
Accounts Payable and Accrued Expenses$152,992$32,760▼ $120,232
Total Liabilities$842,240$1,004,923▲ $162,683
Net Assets / Fund Balance
Total Net Assets Fund Balance$16,991,101$22,470,323▲ $5,479,222
Total Liabilities and Net Assets / Fund Balance$17,833,341$23,475,246▲ $5,641,905

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$173,463$51,203$224,666
Equipment$13,469$56,206$69,675
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Andrew StandardFormer CEOFT$165,688$13,319$179,007

Board Members and Trustees

NameTitle
Keith CrusanChairman
Cedric KingVice Chairma
Brian SmithBoard Member
Bryan BurkeBoard Member
Caroline NelsonBoard Member
Cherise CartwrightBoard Member
Chris HarperBoard Member
Craig RootBoard Member
Daniel NormanBoard Member
Deepika PaulBoard Member
Diana MorrisonBoard Member
Ed AndrewsBoard Member
James DrakeBoard Member
James RogersBoard Member
Jon SeagravesBoard Member
Kim WarnockBoard Member
Monty LeeBoard Member
Terrence LoukCEO
Revenue and Support

Revenue Composition

Contributions and Grants
$5,838,878
Program Service Revenue
$522,419
Investment Income
$118,787
Other Revenue
$295,586
Change in Net Assets
$5,479,222

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,775,670
Revenue Not Reported on Form 990
$324,070
Total Revenue per Audited Statements
$7,099,740
Total Revenue per Form 990
$6,775,670
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$669,986
Salaries, Compensation, and Employee Benefits$626,462
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$249,162$90,588-$339,750
Current Officers, Directors, Trustees, and Key Employees$111,229$40,440-$151,669
Other Employee Benefits$76,948$22,037-$98,985
Conferences and Meetings$58,415$6,994-$65,409
Advertising$62,225$725-$62,950
Depreciation Depletion$525$51,999-$52,524
Fees for Services Accounting-$39,290-$39,290
Payroll Taxes$26,446$9,612-$36,058
Insurance-$18,313-$18,313
Interest$6,012$7,754-$13,766
Fees for Services Other$3,885$9,685-$13,570
All Other Expenses$4,977$7,773-$12,750
Occupancy$34$11,448-$11,482
Information Technology$6,539$4,438-$10,977
Other Expenses$7,385$9,122-$7,385
Fees for Services Legal$4,728$2,522-$7,250
Office Expenses$3,221$2,686-$5,907
Travel$3,425$1,968-$5,393
Total Functional Expenses$957,211$339,237$0$1,296,448

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,620,518
Expenses per Audited Statements$1,296,448
Total Expenses per Form 990$1,296,448
Expenses Not Reported on Form 990$324,070
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Obligations$178,315
Line of Credit$49,937
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 9

“ANDREW STANDARD”

Form 990, Page 6, Part VI, Line 11B

“Directors present at the board meeting where the form 990 draft was presented consituted a quorum and reviewed and accepted the 990 as presented.”

Form 990, Page 6, Part VI, Line 12C

“Members of the board of directors are required to review and sign a conflict of interest statement annually.”

Form 990, Page 6, Part VI, Line 15A

“Salaries and raises are discussed and proposed at a meeting of the executive committee. Total salaries and increases are then disclosed in fiscal year budget presented to and approved by the entire board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Salaries and raises are discussed and proposed at a meeting of the executive committee. Total salaries and increases are then disclosed in fiscal year budget presented to and approved by the entire board of directors.”

Form 990, Page 6, Part VI, Line 19

“These documents are not available to the public.”

Filing and Contact Details

Filer

Filer Name
Coastal Area District Development
EIN
58-1395933
Phone
9122612500
Address
501 GLOUCESTER STREET SUITE 201, BRUNSWICK, GA 31520

Signing Officer

Name
Terrence Louk
Title
CEO
Phone
3305509198
Signed
2023-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terrence Louk
Formed
1976
Legal Domicile
Ga
Voting Board Members
17
Independent Board Members
17
Employees
7

Preparer

Firm
Holland Bromley Barnhill & Brett Llp
Address
530 STEPHENSON AVE STE 200, SAVANNAH, GA 31405
Preparer
Shannon L Brett
Phone
9122353410
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Indirect cost recovery 324,070 current allocated expenses -324,070”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Indirect cost recovery 324,070”

Schedule D, Page 4, Part XII, Line 2D

“Current allocated expenses 324,070”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,475,246
Liabilities
$1,004,923
Net assets
$22,470,323
Revenue
$6,775,670
Expenses
$1,296,448
Net income
$5,479,222
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$1.22$23.6$1.43$0.94$0.49
2023Summary only. Only limited summary data is available for this year.$23.7$0.93$22.8$1.04$0.72$0.32
2022Detailed filing. Detailed filing data is available for this year.$23.5$1.00$22.5$6.78$1.30$5.48
2021Summary only. Only limited summary data is available for this year.$17.8$0.84$17.0$5.00$1.19$3.81
2020Summary only. Only limited summary data is available for this year.$13.8$0.66$13.2$0.87$0.84$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$0.73$13.1$0.89$0.83$0.07
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.8$0.68$13.1$0.87$0.86$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.7$0.66$13.1$0.95$0.99$0.04
2016Detailed filing. Detailed filing data is available for this year.$13.8$0.73$13.1$0.94$0.89$0.04
2015Detailed filing. Detailed filing data is available for this year.$13.9$0.81$13.1$0.84$1.10$0.26
2014Detailed filing. Detailed filing data is available for this year.$14.2$0.86$13.3$0.93$1.53$0.60
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.8$0.92$13.9$1.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$0.98$14.0$0.99
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$1.03$13.9$1.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.0$1.11$13.9$1.34