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Nonprofiteer
← SOUTHEAST ECONOMIC DEVELOPMENT FUND INC

Form 990 for tax year 2022

Filed by SOUTHEAST ECONOMIC DEVELOPMENT FUND INC.

Totals

Total revenue
$193,678
Total expenses
$161,446
Contributions and grants received
$169,604
Grants paid
$0
Program service revenue
$8,775
Investment income
$15,299
Other revenue
$0
Total assets, end of year
$736,844
Total liabilities, end of year
$34,157
Net assets or fund balances, end of year
$702,687
Program services expenses (Part IX)
$161,446
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$161,446

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $34,158

  • 1f · All other contributions, gifts and grants

    $135,446

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $8,775 · related or exempt $8,775

  • 3 · Investment income

    total $15,299 · related or exempt $15,299

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $78,821 · program services $78,821

  • 8 · Pension plan contributions

    total $1,410 · program services $1,410

  • 9 · Other employee benefits

    total $1,807 · program services $1,807

  • 10 · Payroll taxes

    total $8,092 · program services $8,092

  • 16 · Occupancy

    total $10,909 · program services $10,909

  • 17 · Travel

    total $4,558 · program services $4,558

  • 23 · Insurance

    total $1,500 · program services $1,500

  • 24a · Other expenses: CONTRACT SERVICES

    total $15,267 · program services $15,267

  • 24b · Other expenses: INDIRECT

    total $11,413 · program services $11,413

  • 24c · Other expenses: LOAN LOSS

    total $9,777 · program services $9,777

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $8,097 · program services $8,097

  • 24e · All other expenses

    total $9,795 · program services $9,795

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $396,551 · end of year $460,934

  • 3 · Pledges and grants receivable

    beginning of year $99,900 · end of year $34,158

  • 7 · Other notes and loans receivable

    beginning of year $174,004 · end of year $241,752

  • 17 · Accounts payable and accrued expenses

    end of year $34,157

  • 27 · Net assets without donor restrictions

    beginning of year $388,708 · end of year $420,940

  • 28 · Net assets with donor restrictions

    beginning of year $281,747 · end of year $281,747

Mission and programs · 2022

Mission

TO PROVIDE OR CONTINUE EMPLOYMENT FOR LOW INCOME INDIVIDUALS BY ASSISTING THOSE BUSINESSES THAT ARE OWNED OR EMPLOY LOW INCOME INDIVIDUALS. THIS IS DONE BY PROVIDING BUSINESS ADVISORY SERVICES AND LOAN PRODUCTS.

  • PROVIDE BUSINESS ADVISORY AND LOAN SERVICES TO BUSINESSES THAT ARE OWNED AND OPERATED BY LOW INCOME INDIVIDUALS OR WILL EMPLOY LOW INCOME INDIVIDUALS; AND ALSO PROVIDE LOAN SERVICES TO INDIVIDUALS AS AN ALTERNATIVE TO PAY DAY LOANS.

    Expenses $161,446 · Revenue $8,775

As filed on the 2022 return.

Listed in Part VII

  • Brent Gant

    DIRECTOR

    Total calculated
    $0

  • Tim Harbison

    DIRECTOR

    Total calculated
    $0

  • Kraig Sutherland

    DIRECTOR

    Total calculated
    $0

  • Sarah Thurman

    DIRECTOR

    Total calculated
    $0

  • Dan Wichmar

    DIRECTOR

    Total calculated
    $0

  • Denis Moore

    CHAIRMAN

    Total calculated
    $0

  • Jim Thompson

    TREASURER

    Total calculated
    $0

  • Tami White

    VICE CHAIR

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 August 2024
IRS schema version
2022v5.0
Source object
202442289349302264

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