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Nonprofiteer
← SOUTHEAST MISSISSIPPI COMMUNITY INVESTMENT CORPORATION

Form 990 for tax year 2022

Filed by SOUTHEAST MISSISSIPPI COMMUNITY INVESTMENT CORPORATION.

Totals

Total revenue
$10,500
Total expenses
$10,555
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$9,993
Investment income
$507
Other revenue
$0
Total assets, end of year
$1,239,553
Total liabilities, end of year
$14,434
Net assets or fund balances, end of year
$1,225,119
Program services expenses (Part IX)
$809
Management and general expenses
$9,746
Fundraising expenses
$0
Program service expenses (Part III)
$809

Program services were 7.7% 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.

  • 2a · Program service revenue: LOAN INTEREST REVENUE

    total $8,147 · related or exempt $8,147

  • 2b · Program service revenue: MISC PROGRAM SERVICE R

    total $1,643 · related or exempt $1,643

  • 2c · Program service revenue: LOAN CLOSING FEES

    total $203 · related or exempt $203

  • 3 · Investment income

    total $507 · related or exempt $507

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $7,750 · management and general $7,750

  • 13 · Office expenses

    total $956 · management and general $956

  • 20 · Interest

    total $809 · program services $809

  • 23 · Insurance

    total $1,040 · management and general $1,040

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,520 · end of year $1,479

  • 2 · Savings and temporary cash investments

    beginning of year $1,063,104 · end of year $1,078,743

  • 7 · Other notes and loans receivable

    beginning of year $174,119 · end of year $159,331

  • 17 · Accounts payable and accrued expenses

    beginning of year $86 · end of year $142

  • 24 · Unsecured notes and loans payable

    beginning of year $13,483 · end of year $14,292

  • 27 · Net assets without donor restrictions

    beginning of year $74,686 · end of year $69,925

  • 28 · Net assets with donor restrictions

    beginning of year $1,150,488 · end of year $1,155,194

Mission and programs · 2022

Mission

TO PROVIDE LOW INTEREST LOANS AND LOAN GUARANTEES TO SMALL AND MINORITY BUSINESSES LOCATED IN SOUTHEAST MISSISSIPPI

  • DURING 2021, SEMCIC PROVIDED MARKETING MATERIALS TO APPROXIMATELY 40 SMALL BUSINESS ENTREPRENEURS. SEMCIC SERVICED A TOTAL OF 9 NEW AND EXISTING LOANS.

    Expenses $809 · Revenue $10,500

As filed on the 2022 return.

Listed in Part VII

  • Adam Roberts

    BANK REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • Landon Woodall

    BANK REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • Brandon Hubbard

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Chad Newell

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Jamie Fuqua

    CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Sam Bilbo

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Sam Sackler

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • Nick Fairley

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • Amber Travis

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • James Wilcox

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • Dr Lara Otaigbe

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • April Mann

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

  • Tommy May

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Bernard Green

    COMMUNITY REPRESENTATIVE

    Total calculated
    $0
    Hours/week
    0

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 June 2023
IRS schema version
2022v5.0
Source object
202341669349300524

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