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Nonprofiteer
← SOUTHLAND DEVELOPMENT AUTHORITY NFP

Form 990 for tax year 2022

Filed by SOUTHLAND DEVELOPMENT AUTHORITY NFP.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 10 June 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$2,417,391 changed to $2,919,329
Total expenses
$1,862,904 changed to $1,970,983
Contributions and grants received
$1,873,200 changed to $2,375,038
Program service revenue
$0 changed to $542,000
Investment income
$55 changed to $39
Other revenue
$544,136 changed to $2,252
Total assets, end of year
$1,221,365 changed to $1,237,996
Total liabilities, end of year
$1,220,724 changed to $843,598
Net assets or fund balances, end of year
$641 changed to $394,398
Program services expenses
$995,262 changed to $1,210,627
Management and general expenses
$867,642 changed to $760,356
Program service expenses (Part III)
$995,262 changed to $1,210,627

Totals

Total revenue
$2,417,391
Total expenses
$1,862,904
Contributions and grants received
$1,873,200
Grants paid
$3,000
Program service revenue
$0
Investment income
$55
Other revenue
$544,136
Total assets, end of year
$1,221,365
Total liabilities, end of year
$1,220,724
Net assets or fund balances, end of year
$641
Program services expenses (Part IX)
$995,262
Management and general expenses
$867,642
Fundraising expenses
$0
Program service expenses (Part III)
$995,262

Program services were 53.4% 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.

  • 1e · Government grants (contributions)

    $1,133,780

  • 1f · All other contributions, gifts and grants

    $739,420

  • 3 · Investment income

    total $55 · related or exempt $55

  • 11a · Other revenue: FEE FOR SERVICE

    total $543,000 · related or exempt $543,000

  • 11b · Other revenue: SALE OF OFFICE EQUIPME

    total $1,136 · related or exempt $1,136

  • 11e · Other revenue, total

    $544,136

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,000 · program services $3,000

  • 7 · Other salaries and wages

    total $68,959 · program services $7,500 · management and general $61,459

  • 10 · Payroll taxes

    total $6,394 · program services $695 · management and general $5,699

  • 11b · Fees: legal

    total $19,738 · program services $207 · management and general $19,531

  • 11c · Fees: accounting

    total $44,071 · program services $8,925 · management and general $35,146

  • 11g · Fees: other

    total $1,575,957 · program services $922,743 · management and general $653,214

  • 12 · Advertising and promotion

    total $24,257 · program services $17,305 · management and general $6,952

  • 13 · Office expenses

    total $9,857 · program services $2,253 · management and general $7,604

  • 14 · Information technology

    total $29,028 · program services $8,655 · management and general $20,373

  • 16 · Occupancy

    total $6,275 · program services $4,705 · management and general $1,570

  • 17 · Travel

    total $25,002 · program services $16,204 · management and general $8,798

  • 19 · Conferences, conventions and meetings

    total $4,778 · program services $130 · management and general $4,648

  • 20 · Interest

    total $22,677 · management and general $22,677

  • 23 · Insurance

    total $13,275 · management and general $13,275

  • 24a · Other expenses: DUES AND FEES

    total $5,040 · management and general $5,040

  • 24b · Other expenses: RECRUITING

    total $3,056 · program services $2,744 · management and general $312

  • 24c · Other expenses: MISC FEES

    total $1,202 · program services $196 · management and general $1,006

  • 24d · Other expenses: POSTAGE AND SHIPPING

    total $338 · management and general $338

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $87,403 · end of year $47,285

  • 2 · Savings and temporary cash investments

    end of year $95,028

  • 4 · Accounts receivable

    beginning of year $394,714 · end of year $957,205

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,250 · end of year $121,847

  • 17 · Accounts payable and accrued expenses

    beginning of year $208,316 · end of year $154,283

  • 25 · Other liabilities

    beginning of year $837,143 · end of year $1,066,441

  • 27 · Net assets without donor restrictions

    beginning of year -$569,391 · end of year $641

  • 28 · Net assets with donor restrictions

    beginning of year $20,299 · end of year $0

Mission and programs · 2022

Mission

THE SOUTHLAND DEVELOPMENT AUTHORITY (SDA) WAS LAUNCHED IN 2019 WITH A MISSION TO COLLABORATIVELY DESIGN AND SUPPORT IMPLEMENTATION OF COMPREHENSIVE, TRANSFORMATIVE, INCLUSIVE ECONOMIC GROWTH IN COOK COUNTY'S SOUTH SUBURBS. SDA SEEKS TO RE-ESTABLISH THE SOUTHLAND AS A MAJOR HUB OF ECONOMIC ACTIVITY, REVITALIZING THE AREA AS A UNIQUE SET OF COMMUNITIES THAT CELEBRATES AND ENGAGES ITS RICH HISTORY AND DIVERSITY. INCLUSIVE ECONOMIC GROWTH HAS BEEN A FOUNDING PRINCIPLE OF THE SDA, INFORMING ALL OF ITS PROGRAMS AND ACTIVITIES WITH A FOCUS ON THE FOLLOWING DIMENSIONS:1.OWNERSHIP - GROWING BUSINESS AND REAL ESTATE OWNERSHIP BY PEOPLE OF COLOR.2.EMPLOYMENT - INCREASING THE EMPLOYMENT OF WORKERS OF COLOR IN QUALITY JOBS WITH STRONG CAREER LADDER.3.LOCATION AND ACCESS - ENSURING DISADVANTAGED POPULATIONS CAN LIVE NEAR JOB CENTERS.4.PARTICIPATION - GROWING DIVERSE REPRESENTATION AT THE RELEVANT PRIVATE, PUBLIC AND CIVIC SECTOR "TABLES," WHERE GROWTH STRATEGIES ARE SHAPED AND IMPLEMENTED.

  • THE SDA BUSINESS GROWTH SERVICES (BGS) PROGRAM PROVIDES TARGETED, INDUSTRY-SPECIFIC, TECHNICAL AND FINANCIAL SUPPORT TO BUSINESSES THROUGH AN ENTENSIVE AND SOPHISTICATED NETWORK OF PARTNER ORGANIZATIONS, EXPERT MENTORS AND SPECIALISTS. THE BGS PROGRAM HAD PROVIDED OUTREACH TO OVER 10,000 COMPANIES IN THE SOUTHLAND, AND SUPPORTED OVER 500 - WITH 125 PREPARING FOR, RECEIVING, OR HAVING RECEIVED MENTORSHIP. THE PROGRAM SEEKS TO BUILD ON THIS SUCCESS, SPECIFICALLY DEMONSTRATING A GROWTH IN BUSINESS REVENUE AND EMPLOYMENT OVER TIME FOR THE BUSINESSES THAT RECEIVE SDA MENTORSHIP SERVICES.

    Expenses $686,901 · Grants $3,000

  • THE CAPITAL PROGRAM INCLUDES EQUITY AND DEBT OPPORTUNITIES TO SUPPORT SOUTHLAND BUSINESSES. THE SDA LAUNCHED AN ONLINE PLATFORM TO SUPPORT LOAN FACILITATION FOR SMALL BUSINESSES AS WELL AS DEVELOPED THE DIVERSE OWNERS PROGRAM INITIATIVE TO SUPPORT ENTREPRENEURS LOOKING TO ACQUIRE A SOUTHLAND BASED BUISINESS.

    Expenses $21,138

  • THE SDA METALS HUB WILL GROW REVENUE FOR METALS, MANUFACTURING AND EQUIPMENT (MM&E) FIRMS IN THE REGION COLLABORATIVELY BY CREATING AND HARNESSING THE MOST ACCESSIBLE, CAPABLE, AND COMPETITIVE METAL FABRICATION SUPPLY CHAINS IN THE U.S. TO DELIVER NEW REGIONAL REVENUE AND GROWTH. IN ADDITION, IT WILL GUIDE SOUTHLAND MM&E FIRMS TOWARDS INCREASED SPEED, QUALITY, AND RAPID CUSTOMIZATION OF ADVANCED MANUFACTURING. THE FOUNDING CORPORATE PARTNERS OF THE METAL HUB HAVE RECENTLY LAUNCHED THEIR REPORTS TO SOLICIT NEW MANUFACTURING BUSINESS TO THE SOUTHLAND AREA.

    Expenses $287,223

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Abshire

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • David Agosto

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vernard Alsberry Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Frank M Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristi Delaurentiis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • David Doig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Felicia Hardy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tim Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Howard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Koch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Cheryl Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rick Reinbold

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Wilson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lyneir Richardson

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Diane Williams

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Nathaniel K Sutton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bo Kemp

    CEO

    Total calculated
    $0
    Hours/week
    4

  • Robert Weissbourd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Irene Sherr

    DIRECTOR

    Total calculated
    $250,000
    From this org
    $250,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $200,000
    Bonus
    $50,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $250,000

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202311359349306971

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