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← SOUTHWEST ECONOMIC SOLUTIONS

Form 990 for tax year 2023

Filed by SOUTHWEST ECONOMIC SOLUTIONS.

Totals

Total revenue
$3,386,689
Total expenses
$3,726,646
Contributions and grants received
$3,320,292
Grants paid
$0
Program service revenue
$56,141
Investment income
$9,256
Other revenue
$1,000
Total assets, end of year
$1,715,831
Total liabilities, end of year
$542,452
Net assets or fund balances, end of year
$1,173,379
Program services expenses (Part IX)
$3,647,984
Management and general expenses
$78,662
Fundraising expenses
$0
Program service expenses (Part III)
$3,647,984

Program services were 97.9% 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.

  • 1a · Federated campaigns

    $62,500

  • 1d · Related organizations

    $100,000

  • 1e · Government grants (contributions)

    $2,346,804

  • 1f · All other contributions, gifts and grants

    $810,988

  • 2a · Program service revenue: MANAGEMENT FEES

    total $31,800 · related or exempt $31,800

  • 2b · Program service revenue: FORECLOSURE MITIGATION

    total $24,341 · related or exempt $24,341

  • 3 · Investment income

    total $9,256 · excluded $9,256

  • 8a · Fundraising events: gross income

    $450

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $450 · excluded $450

  • 11a · Other revenue: REIMBURSEMENTS

    total $550 · related or exempt $550

  • 11e · Other revenue, total

    $550

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $214,690 · program services $214,690

  • 7 · Other salaries and wages

    total $1,578,836 · program services $1,577,788 · management and general $1,048

  • 8 · Pension plan contributions

    total $10,992 · program services $10,992

  • 9 · Other employee benefits

    total $241,869 · program services $241,869

  • 10 · Payroll taxes

    total $128,362 · program services $128,362

  • 11c · Fees: accounting

    total $19,952 · management and general $19,952

  • 11g · Fees: other

    total $802,769 · program services $798,056 · management and general $4,713

  • 13 · Office expenses

    total $18,669 · program services $15,585 · management and general $3,084

  • 14 · Information technology

    total $26,914 · program services $26,904 · management and general $10

  • 16 · Occupancy

    total $330,220 · program services $325,955 · management and general $4,265

  • 17 · Travel

    total $68,846 · program services $65,633 · management and general $3,213

  • 22 · Depreciation, depletion and amortization

    total $19,125 · program services $14,626 · management and general $4,499

  • 23 · Insurance

    total $9,047 · program services $1,250 · management and general $7,797

  • 24a · Other expenses: PROGRAM COSTS

    total $215,344 · program services $214,105 · management and general $1,239

  • 24b · Other expenses: FURNITURE/EQUIPMENT

    total $11,330 · program services $6,202 · management and general $5,128

  • 24e · All other expenses

    total $29,681 · program services $5,967 · management and general $23,714

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $416,246 · end of year $322,672

  • 2 · Savings and temporary cash investments

    beginning of year $251,073 · end of year $111,375

  • 3 · Pledges and grants receivable

    beginning of year $812,655 · end of year $782,385

  • 10a · Land, buildings and equipment: cost or other basis

    $176,693

  • 10b · Land, buildings and equipment: accumulated depreciation

    $115,444

  • 10c · Land, buildings and equipment, net

    beginning of year $87,245 · end of year $61,249

  • 15 · Other assets

    beginning of year $337,528 · end of year $438,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $108,188 · end of year $165,411

  • 25 · Other liabilities

    beginning of year $283,223 · end of year $377,041

  • 27 · Net assets without donor restrictions

    beginning of year $807,339 · end of year $467,382

  • 28 · Net assets with donor restrictions

    beginning of year $705,997 · end of year $705,997

Mission and programs · 2023

Mission

SOUTHWEST ECONOMIC SOLUTIONS D/B/A MISIDE WEALTH (MIWEALTH) MISSION IS TO PROVIDE OPPORTUNITIES FOR INDIVIDUALS AND FAMILIES TO ACHIEVE GREATER ECONOMIC SUCCESS.

  • PROVIDE PRE AND POSTPURCHASE HOMEOWNERSHIP COUNSELING AND EDUCATION TO COMMUNITY RESIDENTS, 615/YEAR.WORKFORCE DEVELOPMENT PROGRAMMING (INTEGRATED EDUCATION AND TRAINING) INCLUDING EARN AND LEARN (287/YEAR), CAREER CENTER (1,717/YEAR) AND YOUTHBUILD (22/YEAR).ADULT BASIC EDUCATION INCLUDING GED, ESL AND ABE TO 240/YEAR.

    Expenses $3,647,984 · Revenue $56,691

As filed on the 2023 return.

Listed in Part VII

  • SEAN DE FOUR

    PRESIDENT & CEO

    Total calculated
    $306,331
    From this org
    $0
    From related orgs
    $266,948
    Other
    $39,383
    Hours/week
    3.75 + 33.75 related

    Schedule J breakdown matched by us

    Base
    $0 + $238,438 related
    Bonus
    $0 + $15,813 related
    Other
    $0 + $12,697 related
    Deferred
    $0 + $4,968 related
    Nontaxable benefits
    $0 + $34,415 related
    Filer's total
    $0 + $306,331 related

  • MICHELLE R SHERMAN

    COO & CFO

    Total calculated
    $280,008
    From this org
    $0
    From related orgs
    $255,622
    Other
    $24,386
    Hours/week
    1.88 + 35.62 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,594 related
    Bonus
    $0 + $18,266 related
    Other
    $0 + $18,762 related
    Deferred
    $0 + $6,744 related
    Nontaxable benefits
    $0 + $17,642 related
    Filer's total
    $0 + $280,008 related

  • HECTOR HERNANDEZ

    EXECUTIVE DIRECTOR - MIWEALTH

    Total calculated
    $214,689
    From this org
    $183,523
    From related orgs
    $0
    Other
    $31,166
    Hours/week
    35.5 + 2 related

    Schedule J breakdown matched by us

    Base
    $157,962
    Bonus
    $11,693
    Other
    $13,868
    Deferred
    $4,896
    Nontaxable benefits
    $26,270
    Filer's total
    $214,689

  • KAREN GOVEN

    DIRECTOR OF WORKFORCE DEVELOPMENT

    Total calculated
    $131,915
    From this org
    $102,451
    From related orgs
    $0
    Other
    $29,464
    Hours/week
    37.5

  • NAHEED HUQ

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 0.4 related

  • CLAIRE LIENING

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • AKIL ALVIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • ANGELA BALDWIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.4 related

  • CHERYL MUNDAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.9 related

  • DAN MARTINEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • DON JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • ERIC DORSEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MICHAEL WENDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • PATRICK BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • STEPHAN VIVITSKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study

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

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE CEO AND EXECUTIVE DIRECTOR WAS ESTABLISHED BY A RELATED ORGANIZATION, SOUTHWEST SOLUTIONS, INC. DBA MISIDE COMMUNITY IMPACT NETWORK (FEIN: 38-2672000). THE ORGANIZATION UTILIZED THE FOLLOWING: A COMPENSATION COMMITTEE, AN INDEPENDENT COMPENSATION CONSULTANT, F0RM 990 OF OTHER ORGANIZATIONS, A COMPENSATION SURVEY/STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
15 August 2025
IRS schema version
2023v6.0
Source object
202502279349303145

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