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← SOUTHERN MUTUAL HELP ASSOCIATION INC

Form 990 for tax year 2023

Filed by SOUTHERN MUTUAL HELP ASSOCIATION INC.

Totals

Total revenue
$471,290
Total expenses
$1,074,480
Contributions and grants received
$163,220
Grants paid
$0
Program service revenue
$302,000
Investment income
$1,144
Other revenue
$4,926
Total assets, end of year
$6,146,203
Total liabilities, end of year
$4,126,697
Net assets or fund balances, end of year
$2,019,506
Program services expenses (Part IX)
$966,273
Management and general expenses
$95,848
Fundraising expenses
$12,359
Program service expenses (Part III)
$966,273

Program services were 89.9% 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.

  • 1e · Government grants (contributions)

    $35,000

  • 1f · All other contributions, gifts and grants

    $128,220

  • 2a · Program service revenue: CONSTRUCTION REVENUE

    total $300,000 · related or exempt $300,000

  • 2b · Program service revenue: MISC

    total $2,000 · related or exempt $2,000

  • 3 · Investment income

    total $1,144 · excluded $1,144

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $4,928

  • 6c · Rental income or loss

    real property $4,928

  • 6d · Net rental income or loss

    total $4,928 · excluded $4,928

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10b · Cost of goods sold

    $2

  • 10c · Net income from sales of inventory

    total -$2 · related or exempt -$2

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $10,269 · program services $7,374 · management and general $2,515 · fundraising $380

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $116,606 · program services $83,735 · management and general $28,562 · fundraising $4,309

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $21,673 · program services $15,564 · management and general $5,308 · fundraising $801

  • 10 · Payroll taxes

    total $16,355 · program services $11,745 · management and general $4,006 · fundraising $604

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $43,103 · program services $30,952 · management and general $10,558 · fundraising $1,593

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $29,557 · program services $19,994 · management and general $8,542 · fundraising $1,021

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $11,036 · program services $8,067 · management and general $2,580 · fundraising $389

  • 17 · Travel

    total $2,091 · program services $1,588 · management and general $438 · fundraising $65

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $140,188 · program services $128,040 · management and general $12,148

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $3,532 · program services $2,683 · management and general $738 · fundraising $111

  • 23 · Insurance

    total $25,871 · program services $18,578 · management and general $6,337 · fundraising $956

  • 24a · Other expenses: OTHER CONSTRUCTION COSTS

    total $579,629 · program services $567,614 · management and general $10,440 · fundraising $1,575

  • 24b · Other expenses: REPAIRS & MAINTENANCE

    total $49,195 · program services $46,938 · management and general $1,961 · fundraising $296

  • 24c · Other expenses: TAXES & LICENSES

    total $13,463 · program services $12,097 · management and general $1,187 · fundraising $179

  • 24d · Other expenses: GRANT EXPENSE

    total $9,757 · program services $9,757

  • 24e · All other expenses

    total $2,155 · program services $1,547 · management and general $528 · fundraising $80

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $140,625 · end of year $14,119

  • 2 · Savings and temporary cash investments

    beginning of year $644,576 · end of year $440,142

  • 3 · Pledges and grants receivable

    beginning of year $50,000 · end of year $0

  • 4 · Accounts receivable

    beginning of year $3,759 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $11,619 · end of year $10,000

  • 8 · Inventories for sale or use

    beginning of year $6,059,126 · end of year $5,585,768

  • 9 · Prepaid expenses and deferred charges

    end of year $0

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

    $544,274

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

    $448,100

  • 10c · Land, buildings and equipment, net

    beginning of year $99,705 · end of year $96,174

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,924

  • 23 · Secured mortgages and notes payable

    beginning of year $3,243,929 · end of year $2,900,511

  • 25 · Other liabilities

    beginning of year $1,139,900 · end of year $1,226,186

  • 27 · Net assets without donor restrictions

    beginning of year $638,588 · end of year $52,552

  • 28 · Net assets with donor restrictions

    beginning of year $1,980,069 · end of year $1,966,954

Mission and programs · 2023

Mission

Southern Mutual Help Association, Inc.s mission is to build strong, healthy and prosperous rural communities, with a special emphasis on women, low-income families and people of color.

  • Teche Ridge - Southern Mutual Help Association, Inc.s (SMHAs) Teche Ridge is a master-planned $150 million Traditional Neighborhood Design (TND)/Smart Growth development that is strengthening the economy of Iberia Parish, attracting (when fully built) homes, commercial/retail property, civic space and senior living to the community with a conservatively estimated economic impact of nearly three-quarters of a billion dollars. Like other TNDs, Teche Ridge is an environmentally desirable neighborhood as it is a high-density, walkable community that saves agricultural land from sprawl. Unlike other TNDs along the coast that are priced out of reach of many families, SMHAs Teche Ridge is the first not-for-profit owned TND that improves the economy of the area and returns benefit to the commons. Teche Ridge Development provides refuge from floods, being on the "ridge and not in the flood zone.

    Expenses $664,150

  • RURAL RECOVERY SMHAs Rural Recovery includes man-made disasters due to purposeful disinvestment as well as natural disasters. Rural Recovery of necessity includes investment for development in rural communities, villages, towns and smaller cities. It is essential to invest in innovations, economic development, leadership development, agricultural, housing and necessary infrastructure, as well as attention to the disproportionate impact of climate change has on rural communities of lower wealth and or persons of color.SMHA'S Rural Recovery Response is based in the understanding that Rebuilding Better Than Before after natural/manmade disaster is more than recovering "people and stuff." It includes addressing the flow of water, the treatment of land, where we live and how we build, and must be informed by the experiences of people who lived through and adjusted their lives and livelihoods in the aftermath of disaster. SMHA engages families and communities in their own recovery, ensuring that efforts respect families' deep ties to place and their economy that is inextricably tied to the land and waters.SMHA has supported Rural Recovery after five key disasters: Hurricane Andrew in 1992,Hurricanes Katrina and Rita in 2005, the BP Deep Horizon Oil Spill in 2010, flooding in the West End of New Iberia in 2016, and Hurricane Laura and Ida in 2020, connecting thousands of families and small businesses to grants, loans and volunteer labor that help make recovery possible.

    Expenses $162,570

  • BUILDING RURAL COMMUNITIES SMHAs Building Rural Communities program includes family and community development activities as well as the West End Revitalization Initiative. SMHA Builds Equitable Institutions, removing the barriers keeping individuals, families and communities from participating as equal and valued participants in critical policy conversations that impact their lives: access to health care, access to education, access to affordable capital. SMHA transforms existing institutions when they dont work for families and communities, and creates institutions when needed where none existed before, building capacity, transferring competencies, and creating linkages. SMHA has founded seven other not-for-profit organizations and institutions, creating more than $500 million in value.SMHA Leverages Private Sector Investment through a partnership philosophy based in learnings about businesses doing better when they work in cooperation with not-for-profit community development corporations. It is not about businesses helping nonprofits do charity work. It is about the synergy achieved when private and not-for-profit partners work together to achieve good for the commons in ways that generate positive returns for both. SMHA seeks solutions that are both profitable and fair allowing for sustained impact in communities and with families.Through the West End Redevelopment Initiative, SMHA and community partners are revitalizing the historically and culturally important, primarily African-American West End community in the City of New Iberia. SMHAs work improving the physical environment (improving the curb appeal of homes and businesses, rehabilitating owner-occupied homes and constructing five brand new homes the first homes developed for homeownership in the West End in several decades) and building community leadership and capacity to make change catalyzed numerous community-led improvement efforts.

    Expenses $139,553

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lorna Bourg

    President

    Total calculated
    $180,319
    From this org
    $174,111
    From related orgs
    $0
    Other
    $6,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $26,540
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $6,208
    Filer's total
    $32,748

  • Ashley Rogers

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Juanita Mainster

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ashley Shelton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Roberta Madden

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Judith V Herring

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Senator Fred Mills

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    4

  • Margaret Ritchey

    Chairman

    Total calculated
    $0
    Hours/week
    4

  • Martha Moore

    Treasurer

    Total calculated
    $0
    Hours/week
    6

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
  • 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

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.

Disregarded entities

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

  • TECHE RIDGE LLC

    HOME DEVELOPMENT · LA · income $305,255 · assets $3,817,090

    Directly controlled by SOUTHERN MUTUAL HELP ASSOCIATION INC

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2024
IRS schema version
2023v5.0
Source object
202401349349307690

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