Form 990 for tax year 2023
Filed by SOUTHEAST MISSISSIPPI COMMUNITY INVESTMENT CORPORATION.
Totals
- Total revenue
- $26,584
- Total expenses
- $15,444
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $13,628
- Investment income
- $12,956
- Other revenue
- $0
- Total assets, end of year
- $1,251,666
- Total liabilities, end of year
- $15,407
- Net assets or fund balances, end of year
- $1,236,259
- Program services expenses (Part IX)
- $3,615
- Management and general expenses
- $11,829
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,615
Program services were 23.4% 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.
-
2a · Program service revenue: LOAN INTEREST REVENUE
total $8,728 · related or exempt $8,728
-
2b · Program service revenue: MISC PROGRAM SERVICE R
total $3,525 · related or exempt $3,525
-
2c · Program service revenue: LOAN CLOSING FEES
total $1,275 · related or exempt $1,275
-
2d · Program service revenue: APPLICATION FEES
total $100 · related or exempt $100
-
3 · Investment income
total $12,956 · excluded $12,956
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $8,700 · management and general $8,700
-
13 · Office expenses
total $1,964 · management and general $1,964
-
20 · Interest
total $857 · program services $857
-
23 · Insurance
total $1,057 · management and general $1,057
-
24a · Other expenses: BAD DEBT EXPENSE
total $2,758 · program services $2,758
-
24b · Other expenses: PRINTING & REPRODUCTION
total $108 · management and general $108
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,479 · end of year $1,701
-
2 · Savings and temporary cash investments
beginning of year $1,078,743 · end of year $1,097,537
-
7 · Other notes and loans receivable
beginning of year $159,331 · end of year $152,428
-
17 · Accounts payable and accrued expenses
beginning of year $142 · end of year $258
-
24 · Unsecured notes and loans payable
beginning of year $14,292 · end of year $15,149
-
27 · Net assets without donor restrictions
beginning of year $69,925 · end of year $68,057
-
28 · Net assets with donor restrictions
beginning of year $1,155,194 · end of year $1,168,202
Mission and programs · 2023
Mission
TO PROVIDE LOW INTEREST LOANS AND LOAN GUARANTEES TO SMALL AND MINORITY BUSINESSES LOCATED IN SOUTHEAST MISSISSIPPI
-
DURING 2023, SEMCIC PROVIDED TWO NEW LOANS AND SERVICED EIGHT EXISTING LOANS. SEMCIC DISTRIBUTED APPROXIMATELY 60 SEMCIC BROCHURES/MARKETING MATERIALS TO BUSINESS ENTREPRENEURS.
Expenses $3,615 · Revenue $13,628
As filed on the 2023 return.
Listed in Part VII
-
Adam RobertsADAM ROBERTS
BANK REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Landon WoodallLANDON WOODALL
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 0
-
Brandon HubbardBRANDON HUBBARD
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0
-
Chad NewellCHAD NEWELL
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Jamie FuquaJAMIE FUQUA
IMMIDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 0
-
Sam BilboSAM BILBO
CHAIR
- Total calculated
- $0
- Hours/week
- 0
-
Sam SacklerSAM SACKLER
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Nick FairleyNICK FAIRLEY
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
James WilcoxJAMES WILCOX
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Dr Lara OtaigbeDR LARA OTAIGBE
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
April MannAPRIL MANN
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Tommy MayTOMMY MAY
BANK REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Bernard GreenBERNARD GREEN
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Kayla CedotalKAYLA CEDOTAL
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 0
-
Juli MartinezJULI MARTINEZ
COMMUNITY REPRESENTATIVE
- Total calculated
- $0
- Hours/week
- 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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202402419349301250
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