Form 990-EZ for tax year 2022
Filed by SOUTHERN MUTUAL FINANCIAL SERVICES INC.
Totals
- Total revenue
- -$2,318
- Total expenses
- $127,725
- Contributions and grants received
- $16,069
- Grants paid
- not reported
- Program service revenue
- $15,954
- Membership dues (line 3)
- not reported
- Investment income (line 4)
- $80
- Gain or loss on sale of assets (line 5c)
- not reported
- Gaming and fundraising events, net (line 6d)
- not reported
- Gross profit on inventory sales (line 7c)
- -$34,421
- Other revenue (line 8)
- not reported
- Total assets, end of year
- $435,365
- Total liabilities, end of year
- $12,258
- Net assets or fund balances, end of year
- $423,107
- Program service expenses (Part III)
- $88,683
Program services were 69.4% of total expenses calculated — Part III's total program service expenses over total expenses, both as filed.
Mission and programs · 2022
Primary exempt purpose
THE ORGANIZATION IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) CONCERNED WITH QUALITY OF LIFE OF VERY LOW,LOW & MODERATE INCOME PERSONS ESPECIALLY PERTAINING TO AFFORDABLE HOUSING,HOME OWNERSHIP TRAINING ED. & FINANCIAL BUDGETING ESPECIALLY IN NINE RURAL PARISHES.
-
(A) LENDING PROGRAMSMFS IS COMMITTED TO PROVIDING ACCESSIBLE CAPITAL THROUGH FINANCIAL PRODUCTS AND ARMS-LENGTH TRANSACTIONS TO VERY LOW, LOW AND MODERATE INCOME PERSONS.
Expenses $50,111 · Grants $9,983
-
(B) FAMILY AND COMMUNITY DEVELOPMENT PROGRAMSMFS IS COMMITTED TO CREATING HEALTHY COMMUNITIES BY PROVIDING EDUCATION AND TRAINING TO HELP FAMILIES BUILD AND MAINTAIN THEIR ASSETS AND BUILD THEIR WEALTH.THE FAMILY AND COMMUNITY DEVELOPMENT PROGRAM INCLUDES:(1) HOMEOWNERSHIP COUNSELING - GIVES POTENTIAL HOMEOWNERS HANDS-ON EXPERIENCE IN PURCHASING OR CONSTRUCTING A HOME, HOW MORTGAGE LENDING WORKS, BUDGETING, AND WHAT HOMEOWNERSHIP COULD MEAN IN THEIR LIVES.(2) FINANCIAL BUDGETING - PROVIDES TRAINING AND TECHNICAL ASSISTANCE TO VERY LOW, LOW AND MODERATE INCOME FAMILIES IN PREPARATION AND MAINTENANCE OF A FINANCIAL BUDGET.(3) SKILL TRANSFER TRAINING - PROMOTES SELF-SUFFICIENCY BY TEACHING PEOPLE HOW THEY CAN SAVE MONEY BY DOING THEIR OWN HOME REPAIRS AND MAINTENANCE AND KEEP THE VALUE IN THEIR HOMES.
Expenses $38,572
As filed on the 2022 return.
Listed in Part IV
-
Martha MooreMARTHA MOORE
MEMBER
- Total calculated
- $0
- Compensation
- $0
- Benefit plans
- not reported
- Expense account
- not reported
- Hours/week
- 1
-
Helen VintonHELEN VINTON
Secretary
- Total calculated
- $0
- Compensation
- $0
- Benefit plans
- not reported
- Expense account
- not reported
- Hours/week
- 4
-
Lorna BourgLORNA BOURG
Treasurer
- Total calculated
- $0
- Compensation
- $0
- Benefit plans
- not reported
- Expense account
- not reported
- Hours/week
- 6
-
Dr Phebe HayesDR PHEBE HAYES
President
- Total calculated
- $0
- Compensation
- $0
- Benefit plans
- not reported
- Expense account
- not reported
- Hours/week
- 2
Compensation is as filed in Part IV of the Form 990-EZ: compensation, contributions to benefit plans, expense account, 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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990_ez
- Tax year
- 2022
- Filed
- 8 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202311289349202861
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