← SOUTHEAST RURAL COMMUNITY ASSISTANCE PROJECT INC

Form 990 for tax year 2024

Filed by SOUTHEAST RURAL COMMUNITY ASSISTANCE PROJECT INC.

Totals

Total revenue: $10,672,052
Total expenses: $9,874,865
Contributions and grants received: $9,748,568
Grants paid: $668,034
Program service revenue: $572,289
Investment income: $149,896
Other revenue: $201,299
Total assets, end of year: $12,122,276
Total liabilities, end of year: $7,981,614
Net assets or fund balances, end of year: $4,140,662
Program services expenses (Part IX): $9,084,008
Management and general expenses: $790,857
Fundraising expenses: $0
Program service expenses (Part III): $9,084,008

Program services were 92.0% 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)

$9,554,917
1f · All other contributions, gifts and grants

$193,651
2a · Program service revenue: COLL. ON FORG. LOANS

total $302,896 · related or exempt $302,896
2b · Program service revenue: FEES FOR SERVICES

total $269,393 · related or exempt $269,393
3 · Investment income

total $156,529 · excluded $156,529
6a · Gross rents

real property $14,127
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $14,127
6d · Net rental income or loss

total $14,127 · excluded $14,127
7a · Gross sales of assets other than inventory

securities $1,145,910
7b · Less cost or other basis and sales expenses

securities $1,152,543
7c · Gain or loss

securities -$6,633
7d · Net gain or loss

total -$6,633 · excluded -$6,633
11a · Other revenue: OTHER INCOME

total $187,172 · excluded $187,172
11e · Other revenue, total

$187,172

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $668,034 · program services $668,034
5 · Compensation of officers, directors and key employees

total $194,166 · program services $45,307 · management and general $148,859
7 · Other salaries and wages

total $3,745,061 · program services $3,737,601 · management and general $7,460
8 · Pension plan contributions

total $267,232 · program services $267,232
9 · Other employee benefits

total $746,841 · program services $734,847 · management and general $11,994
10 · Payroll taxes

total $288,405 · program services $279,349 · management and general $9,056
11b · Fees: legal

total $34,275 · management and general $34,275
11c · Fees: accounting

total $72,873 · management and general $72,873
11d · Fees: lobbying

total $74,944 · program services $74,944
11g · Fees: other

total $2,273,849 · program services $1,965,282 · management and general $308,567
13 · Office expenses

total $311,525 · program services $218,052 · management and general $93,473
14 · Information technology

total $129,198 · program services $111,041 · management and general $18,157
16 · Occupancy

total $241,545 · program services $227,664 · management and general $13,881
17 · Travel

total $513,555 · program services $470,441 · management and general $43,114
19 · Conferences, conventions and meetings

total $89,776 · program services $73,210 · management and general $16,566
20 · Interest

total $54,538 · program services $27,656 · management and general $26,882
22 · Depreciation, depletion and amortization

total $87,886 · program services $72,163 · management and general $15,723
23 · Insurance

total $7,259 · program services $6,340 · management and general $919
24a · Other expenses: SUBS/PUBS/MEMBERS

total $96,685 · program services $66,394 · management and general $30,291
24b · Other expenses: ADJ. FOR CREDIT ALLOW.

total $37,629 · program services $22,727 · management and general $14,902
24c · Other expenses: CREDIT IMPROVEMENT

total $16,912 · program services $10,927 · management and general $5,985
24d · Other expenses: PERMITS & FEES

total $6,609 · program services $4,270 · management and general $2,339
24e · All other expenses

total -$83,932 · program services $527 · management and general -$84,459

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,315,994 · end of year $2,093,192
2 · Savings and temporary cash investments

beginning of year $3,086,954 · end of year $3,304,688
3 · Pledges and grants receivable

beginning of year $1,549,057 · end of year $1,482,680
7 · Other notes and loans receivable

beginning of year $1,408,748 · end of year $1,629,890
9 · Prepaid expenses and deferred charges

beginning of year $53,630 · end of year $105,839
10a · Land, buildings and equipment: cost or other basis

$2,460,845
10b · Land, buildings and equipment: accumulated depreciation

$895,292
10c · Land, buildings and equipment, net

beginning of year $1,638,286 · end of year $1,565,553
11 · Investments: publicly traded securities

beginning of year $1,400,456 · end of year $1,479,757
12 · Investments: other securities

end of year $317,817
15 · Other assets

beginning of year $56,004 · end of year $142,860
17 · Accounts payable and accrued expenses

beginning of year $1,200,025 · end of year $993,293
19 · Deferred revenue

beginning of year $5,542,647 · end of year $5,364,725
23 · Secured mortgages and notes payable

beginning of year $1,003,746 · end of year $1,100,799
24 · Unsecured notes and loans payable

end of year $381,324
25 · Other liabilities

beginning of year $54,609 · end of year $141,473
27 · Net assets without donor restrictions

beginning of year $2,708,102 · end of year $4,140,662

Mission and programs · 2024

Mission

SOUTHEAST RURAL COMMUNITY ASSISTANCE PROJECT, INC. (SERCAP) WAS ORGANIZED FOR THE PURPOSE OF PROMOTING AND ASSISTING THE DEVELOPMENT OF WATER AND WASTEWATER FACILITIES IN MARYLAND, DELAWARE, VIRGINIA, NORTH CAROLINA, SOUTH CAROLINA, GEORGIA, AND FLORIDA. THE PRIMARY CONCERN IS FOR LOW-INCOME PERSONS WHO LACK THE FINANCIAL RESOURCES TO OBTAIN ADEQUATE WATER AND WASTEWATER FACILITIES. SINCE 1969, SERCAP HAS ALSO ASSISTED IN THE DEVELOPMENT OF FACILITIES IN LOW-INCOME RURAL AREAS BY: ORGANIZING PEOPLE, HELPING APPLY FOR FINANCING, COORDINATING SYSTEM DESIGN OF INDIVIDUAL WELL SITES, AND PROVIDING INFORMATION RELATED TO THE CONSTRUCTION, OPERATIONS, AND MAINTENANCE OF WATER AND WASTEWATER FACILITIES.

Activities or mission (Part I)

SERCAP WILL BE THE AGENCY OF CHANGE, RESULTING IN HEALTHY, SUSTAINABLE, AND THRIVING COMMUNITIES.

TRAINING AND TECHNICAL ASSISTANCE: THE EPA NPA 1 GRANT PROGRAM ALLOWS SERCAP TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE (TA) FOR SMALL, RURAL COMMUNITY WATER SYSTEMS. EPA NPA 1 SPECIFICALLY FOCUSES ON PROVIDING CLEAN, SAFE DRINKING WATER TO THESE SMALL, RURAL COMMUNITIES. THE TRAINING AND TA PROVIDED UNDER THIS GRANT PROGRAM FREQUENTLY SUPPORTS COMPLIANCE, AND HELPS SMALL WATER SYSTEMS TO GAIN AND/OR MAINTAIN COMPLIANCE WITH LOCAL, STATE, AND FEDERAL WATER REGULATIONS. HOWEVER, THESE FUNDS DO NOT COVER ANY FINES/FEES ASSOCIATED WITH SYSTEMS BEING OUT OF COMPLIANCE. APPROXIMATELY 410 PROJECTS AND 50 TRAININGS COMPLETED.

Expenses $3,002,605 · Revenue $178,555
ENVIRONMENTAL: THE ENVIRONMENTAL FINANCE CENTER PROVIDES TRAINING AND APPLICATION ASSISTANCE TO LOW-INCOME COMMUNITIES TO HELP THEM GAIN ACCESS TO GRANTS AND LOANS FOR CRITICAL WATER, WASTEWATER, AND OTHER ENVIRONMENTAL PROJECTS. FURTHERMORE, THE EFC'S ASSISTANCE WILL CENTER ON HELPING COMMUNITIES ACCESS SRF (STATE REVOLVED FUNDS) AND OTHER STATE AND FEDERAL GRANTS AND LOANS.

Expenses $2,168,707 · Revenue $32,620
COMMUNITY DEVELOPMENT: THE RURAL COMMUNITY DEVELOPMENT (RCD) GRANT FROM HHS: OCS, ALSO PROVIDES TRAINING AND TECHNICAL ASSISTANCE (TA) TO SMALL, RURAL WATER AND WASTEWATER SYSTEMS. THIS GRANT FUNDING ALLOWS SERCAP TO IMPACT FOUR KEY ISSUES FACING LMI RURAL AREAS IN THE SOUTHEAST US, INCLUDING: CLEAN DRINKING WATER, ENVIRONMENTALLY SOUND WASTEWATER SOLUTIONS, CRITICAL INFRASTRUCTURE, AND COMMUNITY DEVELOPMENT. SERCAP'S TECHNICAL ASSISTANCE PROVIDERS (TAPS) SUPPORT THESE COMMUNITIES BY PROVIDING TRAINING TO COMMUNITY BOARDS, TRAINING TO W/WW OPERATORS, AND NECESSARY TA, INCLUDING: W/WW NEEDS ASSESSMENTS, PLANNING & OPERATIONS, ECONOMIC DEVELOPMENT, AND MORE. APPROXIMATELY 70 PROJECTS AND 15 TRAININGS COMPLETED.

Expenses $1,958,144 · Grants $572,488 · Revenue $34,337
HOUSING

Expenses $1,236,750 · Grants $71,842 · Revenue $174,548
LOAN FUND

Expenses $717,802 · Grants $23,704 · Revenue $152,229

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Keith AshbyKEITH ASHBY

MEMBER (THRU JUNE 2025); CHAIRMAN

Total calculated

$0

Hours/week

3
Walter FlemingWALTER FLEMING

CHAIRMAN (THRU MAY 2025); MEMBER

Total calculated

$0

Hours/week

3
Kajal KapurKAJAL KAPUR

MEMBER (THRU JUNE 2025); VICE CHAIR

Total calculated

$0

Hours/week

3
Shawn UttSHAWN UTT

VICE CHAIR (THRU JUNE 2025)

Total calculated

$0

Hours/week

3
Jacquelyn SlaytonJACQUELYN SLAYTON

MEMBER (THRU JUNE 2025); SECRETARY

Total calculated

$0

Hours/week

3
Marie WatsonMARIE WATSON

SECRETARY (THRU APRIL 2025)

Total calculated

$0

Hours/week

3
George Fitz-Hugh JrGEORGE FITZ-HUGH JR

TREASURER (THRU JUNE 2025); MEMBER

Total calculated

$0

Hours/week

3
Freddie MitchellFREDDIE MITCHELL

MEMBER (THRU JUNE 2025); TREASURER

Total calculated

$0

Hours/week

3
Bertha ArmstrongBERTHA ARMSTRONG

MEMBER

Total calculated

$0

Hours/week

3
Angela BatesANGELA BATES

MEMBER

Total calculated

$0

Hours/week

3
Kevin BelcherKEVIN BELCHER

MEMBER

Total calculated

$0

Hours/week

3
Bennette BurksBENNETTE BURKS

MEMBER (AS OF JUNE 2025)

Total calculated

$0

Hours/week

3
George Fitz-Hugh JrGEORGE FITZ-HUGH JR

MEMBER

Total calculated

$0

Hours/week

3
Swynice HawkinsSWYNICE HAWKINS

MEMBER

Total calculated

$0

Hours/week

3
William HoltWILLIAM HOLT

MEMBER

Total calculated

$0

Hours/week

3
Terry LewisTERRY LEWIS

MEMBER (THRU JANUARY 2025)

Total calculated

$0

Hours/week

3
Carmela OrrCARMELA ORR

MEMBER

Total calculated

$0

Hours/week

3
Winfred OwensWINFRED OWENS

MEMBER

Total calculated

$0

Hours/week

3
Myra Riley-TaylorMYRA RILEY-TAYLOR

MEMBER (AS OF JUNE 2025)

Total calculated

$0

Hours/week

3
Alfred RobertsALFRED ROBERTS

MEMBER

Total calculated

$0

Hours/week

3
Jaime SaylerJAIME SAYLER

MEMBER

Total calculated

$0

Hours/week

3
Reginald SpeightREGINALD SPEIGHT

MEMBER (AS OF JUNE 2025)

Total calculated

$0

Hours/week

3
Hope F CupitHOPE F CUPIT

PRESIDENT & CEO

Total calculated

$195,016

From this org

$165,419

From related orgs

$0

Other

$29,597

Hours/week

44.25

Schedule J breakdown matched by us

Base

$165,419

Bonus

$0

Other

$0

Deferred

$13,998

Nontaxable benefits

$15,599

Filer's total

$195,016

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 survey or study
3 · Approval by the board or compensation committee

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

TOWN OF WHITE STONE

$125,250

FACILITIES DEVELOPMENT
FALWELL CORPORATION

$69,715

FACILITIES DEVELOPMENT
TOWN OF GRETNA

$50,000

FACILITIES DEVELOPMENT
TOWN OF WYTHEVILLE

$47,820

FACILITIES DEVELOPMENT
COUNTY OF ACCOMACK

$44,100

FACILITIES DEVELOPMENT
TOWN OF FRIES

$40,275

FACILITIES DEVELOPMENT
TOWN OF GLEN LYN

$34,562

FACILITIES DEVELOPMENT
GILES COUNTY PSA

$27,500

FACILITIES DEVELOPMENT
L & M CONSTRUCTION

$24,500

FACILITIES DEVELOPMENT
OAK HILL ACADEMY

$24,382

FACILITIES DEVELOPMENT

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

347 WEST CAMPBELL LLC

REAL ESTATE · VA · assets $1,472,700

Directly controlled by SOUTHEAST RURAL COMMUNITY ASSISTANCE PR

Provenance

Return type: form_990
Tax year: 2024
Filed: 3 August 2026
IRS schema version: 2024v5.5
Source object: 202602169349301105

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.