Southern Development Foundation
- Assets
- $2.6m
- Revenue
- $216.6k
- Investments
- $5.0k
- Employees
- 0
- Location
- Lafayette, LA
- Founding
- 09/1973
- Data as of
- 12/2021
- EIN
- 72-0721203
Organization Overview
Southern Development Foundation is located in Lafayette, LA. The organization was established in 1973. According to its NTEE Classification (K02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Development Foundation 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 12/2021, Southern Development Foundation generated $216.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.8%) each year. All expenses for the organization totaled $193.4k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PROGRAM ACTIVITY PROVIDES FINANCIAL MANAGEMENT & TECHNICAL ASSISTANCE TO FARMING AND OTHER COOPERATIVES IN LOUISIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S PROGRAM ACTIVITY PROVIDES FINANCIAL MANAGEMENT & TECHNICAL ASSISTANCE TO FARMING AND OTHER COOPERATIVES IN LOUISIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Freeman Executive Dir. | OfficerTrustee | 0 | $0 |
George Robins Vice President | OfficerTrustee | 0 | $0 |
Aubrey Howard President | Trustee | 0 | $0 |
Charles Goodie Treasurer | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $124,512 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $216,628 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $13,376 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,753 |
| Payroll taxes | $0 |
| Fees for services: Management | $50 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $807 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,715 |
| Travel | $6,952 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $77,294 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,227 |
| Insurance | $8,839 |
| All other expenses | $2,468 |
| Total functional expenses | $193,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $152,250 |
| 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 | -$1,842 |
| Net Land, buildings, and equipment | $2,417,385 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,960 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3 |
| Total assets | $2,572,808 |
| Accounts payable and accrued expenses | $216,840 |
| 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 | $1,160,589 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,377,429 |
| Net assets without donor restrictions | $1,195,379 |
| 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 | $2,572,808 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kkac Organization Little Rock, AR | $342,940 | $493,121 |
Delta Conservation Demonstration Center Metcalfe, MS | $431,739 | $311,331 |
Southern Development Foundation Lafayette, LA | $2,572,808 | $216,628 |
Oxford City Market Oxford, MS | $160,576 | $0 |
Louisiana Agricultural Consultants Association Inc Cheneyville, LA | $155,461 | $0 |
Ste Christine & St Nestor Foundation Inc San Antonio, TX | $0 | $0 |
The Mississippi Agricultural West Point, MS | $81,771 | $0 |
Texas Miniature Hereford Youth Organization Hitchcock, TX | $43,894 | $0 |