Nonprofit · EIN 58-1395933
COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY
Tax-exempt · BRUNSWICK, GA 31520
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $1,430,049 | $936,707 | $493,342 | $24,790,811 | $1,218,248 | $23,572,563 |
| September 30, 2024 | 990 | $1,175,143 | $885,509 | $289,634 | $24,091,014 | $1,011,793 | $23,079,221 |
| September 30, 2023 | 990 | $1,036,906 | $717,642 | $319,264 | $23,718,712 | $929,125 | $22,789,587 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $683,330
- Investment income
- $342,008
- Net gain from sales of assets
- -$2,032
- Other revenue
- $404,711
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $135,000
- Other salaries and wages
- $297,998
- Salaries, compensation and benefits (total)
- $564,185
- Professional fundraising fees
- $0
- Legal fees
- $1,295
- Accounting fees
- $59,238
- Occupancy
- $15,846
- Travel
- $20,260
- Depreciation
- $61,002
- Program services (functional)
- $418,131
- Management and general (functional)
- $518,576
Balance sheet and other
- Total assets, start of year
- $24,091,014
- Total assets, end of year
- $24,790,811
- Total liabilities, end of year
- $1,218,248
- Net assets, end of year
- $23,572,563
- Land, buildings and equipment
- $65,462
- Gross receipts
- $1,432,081
- Employees
- 7
- Year formed
- 1976
- State of legal domicile
- GA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TERRENCE LOUK | CEO Officer | 40 | $126,900 | $8,100 |
| ALEX BROWN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHERISE CARTWRIGHT | TREASURER Trustee or director | 1 | $0 | $0 |
| JAMES COUGHLIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEITH CRUSAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PAUL DEEPIKA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOE FORD | SECRETARY Trustee or director | 1 | $0 | $0 |
| CHRIS HARPER | VICE CHAIRMA Trustee or director | 1 | $0 | $0 |
| JAMES DRAKE JR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CEDRIC KING | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DANIEL NORMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JAMES ROGERS | CHAIRMAN Trustee or director | 1 | $0 | $0 |
| CRAIG ROOT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KIMBALL WARNOCK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICK WOOCK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TERRENCE LOUK | CEO Officer | 40 | $126,900 | $8,100 |
| BROWN ALEX | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHERISE CARTWRIGHT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEITH CRUSAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOE FORD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHRIS HARPER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| COUGHLIN JAMES | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JAMES DRAKE JR | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CEDRIC KING | CHAIRMAN Trustee or director | 1 | $0 | $0 |
| MONTY LEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DIANA MORRISON | VICE-CHAIRMA Trustee or director | 1 | $0 | $0 |
| DANIEL NORMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DEEPIKA PAUL | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JAMES ROGERS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CRAIG ROOT | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JON SEAGRAVES | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KIMBALL WARNOCK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PATRICK WOOCK | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2023: 16 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TERRENCE LOUK | CEO Officer | 40 | $131,288 | $3,712 |
| BRYAN BURKE | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| CHERISE CARTWRIGHT | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| KEITH CRUSAN | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| CHRIS HARPER | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| JAMES DRAKE JR | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| CEDRIC KING | CHAIRMAN Trustee or director | 2.5 | $0 | $0 |
| MONTY LEE | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| DIANA MORRISON | VICE-CHAIRMA Trustee or director | 2.5 | $0 | $0 |
| DANIEL NORMAN | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| DEEPIKA PAUL | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| JAMES ROGERS | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| CRAIG ROOT | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| JON SEAGRAVES | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| BRIAN SMITH | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
| KIMBALL WARNOCK | BOARD MEMBER Trustee or director | 2.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 501 GLOUCESTER ST STE 201, BRUNSWICK, GA 31520-7030
- Principal officer (990 for 2024)
- TERRENCE LOUK, 501 GLOUCESTER STREET, SUITE 201, BRUNSWICK, GA 31520
- Signed the 990
- TERRENCE LOUK, CEO
- Phone
- (912) 261-2500
- Website
- WWW.CADDA-SBA.ORG
- Return prepared by
- HOLLAND BROMLEY BARNHILL & BRETT LLP
Mission
CREATE OR RETAIN PERMANENT JOBS AND INCREASE PRODUCTIVITY IN THE COASTAL GEORGIA AREA THROUGH ECONOMIC DEVELOPMENT LOAN PROGRAMS.
Program accomplishments
- CADDA PROVIDES LOAN FUNDING THROUGH REVOLVING LOAN FUNDS TO COMPANIES WITHIN THE COASTAL GEORGIA AREA THAT WILL RESULT IN A POSITIVE ECONOMIC IMPACT AND THE CREATION OF JOBS.Expenses $329,869 · revenue $976,948
- CADDA PROVIDES FUNDING THROUGH THE INTERMEDIARY RELENDING PROGRAM FOR NEW BUSINESSES AT REASONABLE INTEREST RATES DESIGNATED TO PROVIDE ASSISTANCE FOR BUSINESSES IN RURAL AREAS.Expenses $14,952 · revenue $75,380
- NONPUBLIC FUNDS ARE UNRESTRICTED FUNDS GENERATED PRIMARILY THROUGH CHARGES FOR LOAN SERVICES PROVIDED BY CADDA.Expenses $73,310 · revenue $352,301
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 58-1395933
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1981
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $24,790,811
- Income (IRS master file)
- $1,432,081
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $1,430,049 | $936,707 | $24,790,811 | XML |
| 990 | September 2024 | $1,175,143 | $885,509 | $24,091,014 | XML |
| 990 | September 2023 | $1,036,906 | $717,642 | $23,718,712 | XML |
| 990 | September 2022 | $6,775,670 | $1,296,448 | $23,475,246 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 58-1395933).
Questions about COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY
- What is the EIN of COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY?
- The employer identification number (EIN) of COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY is 58-1395933.
- Is COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1981.
- Are donations to COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY?
- The 990 for the year ended September 30, 2025 names TERRENCE LOUK.
- Who are the officers and directors of COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY?
- The 990 for the year ended September 30, 2025 lists 15 people; 1 received compensation from the organization, the highest $126,900 (TERRENCE LOUK, CEO).
- How much revenue does COASTAL AREA DISTRICT DEVELOPMENT AUTHORITY have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $1,430,049, expenses of $936,707 and total assets of $24,790,811 at year end.
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