Form 990 for tax year 2022
Filed by SOUTHEAST OKLAHOMA COMMUNITY DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $75,987
- Total expenses
- $57,380
- Contributions and grants received
- $38,205
- Grants paid
- $0
- Program service revenue
- $2,975
- Investment income
- $34,807
- Other revenue
- $0
- Total assets, end of year
- $709,888
- Total liabilities, end of year
- $714,396
- Net assets or fund balances, end of year
- -$4,508
- Program services expenses (Part IX)
- $38,503
- Management and general expenses
- $18,877
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $38,503
Program services were 67.1% 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)
$38,205
-
2a · Program service revenue: Program Income
total $2,975 · related or exempt $2,975
-
3 · Investment income
total $34,807 · excluded $34,807
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $24,093 · program services $24,093
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $6,585 · program services $6,585
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $4,244 · management and general $4,244
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $5,300 · program services $5,246 · management and general $54
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $79 · program services $79
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $2,500 · program services $2,500
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $12,035 · management and general $12,035
-
24a · Other expenses: Bad Debt Expense
total $2,544 · management and general $2,544
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $140,119 · end of year $151,171
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $510,818 · end of year $558,717
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $4,000 · end of year $4,244
-
19 · Deferred revenue
end of year $4,425
-
21 · Escrow or custodial account liability
beginning of year $17,390 · end of year $3,725
-
23 · Secured mortgages and notes payable
beginning of year $280,000 · end of year $280,000
-
25 · Other liabilities
beginning of year $372,662 · end of year $422,002
-
27 · Net assets without donor restrictions
beginning of year -$23,115 · end of year -$4,508
Mission and programs · 2022
Mission
To improve economic and financial stability through financing and development assistance for low-income individuals and families.
-
In 2022, SOCDC successfully closed 5 small business loans, increasing economic growth for the service area and families served. Financial literacy services were provided to 20 new clients. On going follow up loan and education services were provided to 10 clients. At the end of 2022, SOCDC had a loan portifolio of 15 active and current small business loans and received a 100% customer satisfaction survey.
Expenses $38,503 · Revenue $2,975
As filed on the 2022 return.
Listed in Part VII
-
Sandy Meeks
Board Member
- Total calculated
- $0
- Hours/week
- 0.5
-
David Smith
Board Member
- Total calculated
- $0
- Hours/week
- 0.5
-
David Hawkins
Board Member
- Total calculated
- $0
- Hours/week
- 0.5
-
Wade Scott
Chairman
- Total calculated
- $0
- Hours/week
- 0.5
-
Brent Franks
Vice Chairman
- Total calculated
- $0
- Hours/week
- 0.5
-
Will Smith
Sec/Treas
- Total calculated
- $0
- Hours/week
- 0.5
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.
-
LIFT Community Action Agency Inc
7 · Social Services · OK
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 16 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312899349301851
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