Southern Affordable Services Inc
- Assets
- $3.2m
- Revenue
- $623.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Winter Park, FL
- Founding
- 11/2009
- Data as of
- 12/2022
- EIN
- 27-0169634
Organization Overview
Southern Affordable Services Inc is located in Winter Park, FL. The organization was established in 2009. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Affordable Services Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Southern Affordable Services Inc generated $623.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $688.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (23.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNING AND /OR OPERATING AND/OR DEVELOPING HOUSING FOR RENTAL TO ELIGIBLE INDIVIDUALS OR FAMILIES WITH LOW TO MODERATE INCOME.
THE MISSION OF THE NEW MOVES PARTNERSHIP IS TO PROVIDE QUALITY HOUSING TO FAMILIES WHO HAVE BECOME HOMELESS DUE TO NO FAULT OF THEIR OWN. WE ASSIST FAMILIES WHO ARE NEWLY HOMELESS AS A RESULT OF JOB LOSS, DEATH, HEALTH ISSUES AND OTHER NON-CONTROLLABLE EVENTS THAT COULD LEAD TO THE LOSS OF A HOME. THE NEW MOVES PARTNERSHIP PROGRAM WORKS WITH CASE MANAGERS AT VARIOUS AGENCIES, CHARITIES AND CHURCHES SO THE FAMILIES RECEIVE THE SUPPORT THEY NEED TO BECOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott D Clark President/director | 10 | $0 | |
Thomas C Shaw Vice President/director | 10 | $0 | |
David J Ross Secretary/treasurer/direct | 10 | $0 | |
Jay Brock Ex Vice President | 32 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6,815 |
| Dividends & Interest | $0 |
| Net Rental Income | $338,381 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $173,695 |
| Total Revenue | $623,534 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,721 |
| Other employee salaries and wages | $108,869 |
| Pension plans, employee benefits | $22,403 |
| Interest | $360,000 |
| Taxes | $24,651 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $108,238 |
| Total operating and administrative expenses | $688,369 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $688,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $588,610 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $40,290 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $710,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,833,054 |
| Total assets | $3,171,954 |
| Accounts payable and accrued expenses | $263 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $710,000 |
| Other liabilities | $0 |
| Total liabilities | $710,263 |