Social Development Foundation Inc
- Assets
- $731.3k
- Revenue
- $436.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 47-0923289
Organization Overview
Social Development Foundation Inc is located in Milwaukee, WI. The organization was established in 2004. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Social Development Foundation 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, Social Development Foundation Inc generated $436.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $413.9k during the year ending 12/2022. While expenses have increased by 9.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE SOCIAL DEVELOPMENT FOUNDATION WAS ESTABLISHED IN 2003 AS A 501(C)(3) NONPROFIT ORGANIZATION FOR THE SOLE PURPOSE OF PROVIDING FINANCIAL SUPPORT FOR THE PROGRAMS AND INITIATIVES OF THE COMMUNITY RELATIONS - SOCIAL DEVELOPMENT COMMISSION (SDC). THE SDC IS THE COMMUNITY-ACTION AGENCY FOR MILWAUKEE COUNTY AND DIRECTS OVER 20 PROGRAMS, WHICH OFFER BASIC SERVICES AND ASSET-BUILDING PROGRAMS TO LOW-INCOME RESIDENTS. THE FOUNDATION'S VISION IS TO GENERATE PRIVATE-SECTOR SUPPORT TO SUPPLEMENT TAX-BASED FUNDING, WITH THE RESULT OF EXPANDED PROGRAMS, ENHANCED SERVICES, AND A BROADENED AWARENESS OF SDC'S MISSION IN THE COMMUNITY, EMPOWERING MILWAUKEE COUNTY RESIDENTS WITH THE RESOURCES TO MOVE BEYOND POVERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET BUILDING - PROVIDED FREE TAX PREPARATION SERVICES TO RESIDENTS FILING FEDERAL AND STATE TAX RETURNS, GENERATING TAX REFUNDS AND TAX CREDITS WHILE SAVING TAX PREPARATION FEES. THE PROGRAM ALSO CONDUCTED FINANCIAL LITERACY WORKSHOPS WHERE CLIENTS PARTICIPATED AND OPENED BANK ACCOUNTS.
POVERTY SUMMIT PROVIDING INFORMATION FOR PEOPLE TO STAY INFORMED ON EVERYTHING AFFECTING POOR PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alicia Smith Mccants President | OfficerTrustee | 1 | $0 |
Lisa Goodman Vice President | OfficerTrustee | 1 | $0 |
Phyllis Clark Treasurer | OfficerTrustee | 1 | $0 |
Stanthia Grier Secretary | OfficerTrustee | 1 | $0 |
Al Smith Director | Trustee | 1 | $0 |
Stanley Brister Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $116,463 |
| Related organizations | $0 |
| Government grants | $27,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $387,243 |
| Noncash contributions included in lines 1a–1f | $12,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $531,206 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,264 |
| Net Income from Fundraising Events | -$62,885 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $436,057 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $351,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,520 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,015 |
| Payroll taxes | $1,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,643 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,105 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,246 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,600 |
| Travel | $30 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $250 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $413,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $530,017 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,499 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $187,759 |
| Total assets | $731,275 |
| Accounts payable and accrued expenses | $5,975 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $402,240 |
| Total liabilities | $408,215 |
| Net assets without donor restrictions | $323,060 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $731,275 |