Southland Development Authority Nfp
- Assets
- $1.1m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Tinley Park, IL
- Founding
- Data as of
- 12/2023
- EIN
- 84-2818243
Organization Overview
Southland Development Authority Nfp is located in Tinley Park, IL. As of 12/2023, Southland Development Authority Nfp employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southland Development Authority Nfp 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 12/2023, Southland Development Authority Nfp generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 40.0% each year . All expenses for the organization totaled $3.7m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SOUTHLAND DEVELOPMENT AUTHORITY (SDA) WAS LAUNCHED IN 2019 WITH A MISSION TO COLLABORATIVELY DESIGN AND SUPPORT IMPLEMENTATION OF COMPREHENSIVE, TRANSFORMATIVE, INCLUSIVE ECONOMIC GROWTH IN COOK COUNTY'S SOUTH SUBURBS. SDA SEEKS TO RE-ESTABLISH THE SOUTHLAND AS A MAJOR HUB OF ECONOMIC ACTIVITY, REVITALIZING THE AREA AS A UNIQUE SET OF COMMUNITIES THAT CELEBRATES AND ENGAGES ITS RICH HISTORY AND DIVERSITY. INCLUSIVE ECONOMIC GROWTH HAS BEEN A FOUNDING PRINCIPLE OF THE SDA, INFORMING ALL OF ITS PROGRAMS AND ACTIVITIES WITH A FOCUS ON THE FOLLOWING DIMENSIONS:1.OWNERSHIP - GROWING BUSINESS AND REAL ESTATE OWNERSHIP BY PEOPLE OF COLOR.2.EMPLOYMENT - INCREASING THE EMPLOYMENT OF WORKERS OF COLOR IN QUALITY JOBS WITH STRONG CAREER LADDER.3.LOCATION AND ACCESS - ENSURING DISADVANTAGED POPULATIONS CAN LIVE NEAR JOB CENTERS.4.PARTICIPATION - GROWING DIVERSE REPRESENTATION AT THE RELEVANT PRIVATE, PUBLIC AND CIVIC SECTOR "TABLES," WHERE GROWTH STRATEGIES ARE SHAPED AND IMPLEMENTED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SDA BUSINESS GROWTH SERVICES (BGS) PROGRAM PROVIDES TARGETED, INDUSTRY-SPECIFIC, TECHNICAL AND FINANCIAL SUPPORT TO BUSINESSES THROUGH AN ENTENSIVE AND SOPHISTICATED NETWORK OF PARTNER ORGANIZATIONS, EXPERT MENTORS AND SPECIALISTS. THE BGS PROGRAM HAD PROVIDED OUTREACH TO OVER 10,000 COMPANIES IN THE SOUTHLAND, AND SUPPORTED OVER 500 - WITH 125 PREPARING FOR, RECEIVING, OR HAVING RECEIVED MENTORSHIP. THE PROGRAM SEEKS TO BUILD ON THIS SUCCESS, SPECIFICALLY DEMONSTRATING A GROWTH IN BUSINESS REVENUE AND EMPLOYMENT OVER TIME FOR THE BUSINESSES THAT RECEIVE SDA MENTORSHIP SERVICES.
THE CAPITAL PROGRAM INCLUDES EQUITY AND DEBT OPPORTUNITIES TO SUPPORT SOUTHLAND BUSINESSES. THE SDA LAUNCHED AN ONLINE PLATFORM TO SUPPORT LOAN FACILITATION FOR SMALL BUSINESSES AS WELL AS DEVELOPED THE DIVERSE OWNERS PROGRAM INITIATIVE TO SUPPORT ENTREPRENEURS LOOKING TO ACQUIRE A SOUTHLAND BASED BUISINESS.
THE SDA METALS HUB WILL GROW REVENUE FOR METALS, MANUFACTURING AND EQUIPMENT (MM&E) FIRMS IN THE REGION COLLABORATIVELY BY CREATING AND HARNESSING THE MOST ACCESSIBLE, CAPABLE, AND COMPETITIVE METAL FABRICATION SUPPLY CHAINS IN THE U.S. TO DELIVER NEW REGIONAL REVENUE AND GROWTH. IN ADDITION, IT WILL GUIDE SOUTHLAND MM&E FIRMS TOWARDS INCREASED SPEED, QUALITY, AND RAPID CUSTOMIZATION OF ADVANCED MANUFACTURING. THE FOUNDING CORPORATE PARTNERS OF THE METAL HUB HAVE RECENTLY LAUNCHED THEIR REPORTS TO SOLICIT NEW MANUFACTURING BUSINESS TO THE SOUTHLAND AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Abshire Vice President | OfficerTrustee | 1 | $0 |
David Agosto Director | Trustee | 1 | $0 |
Jeff Allen Director | Trustee | 1 | $0 |
Vernard Alsberry Jr Director | Trustee | 2 | $0 |
Frank M Clark Director | Trustee | 1 | $0 |
Kristi Delaurentiis Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bo Kemp Ceo | 12/30/23 | $271,621 |
Capital Access Advisors Cohort Leader | 12/30/23 | $222,788 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,665,336 |
| All other contributions, gifts, grants, and similar amounts not included above | $675,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,340,336 |
| Total Program Service Revenue | $906,956 |
| Investment income | $26 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $3,248,349 |
| 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 | $0 |
| Other salaries and wages | $640,589 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $54,233 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,588 |
| Fees for services: Accounting | $78,090 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,571,566 |
| Advertising and promotion | $24,552 |
| Office expenses | $28,858 |
| Information technology | $51,630 |
| Royalties | $0 |
| Occupancy | $11,343 |
| Travel | $19,313 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,037 |
| Interest | $8,800 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,130 |
| All other expenses | $0 |
| Total functional expenses | $3,660,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $649,570 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $409,964 |
| 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 | $41,024 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,100,558 |
| Accounts payable and accrued expenses | $345,399 |
| Grants payable | $0 |
| Deferred revenue | $527,566 |
| 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 | $130,349 |
| Other liabilities | $114,911 |
| Total liabilities | $1,118,225 |
| Net assets without donor restrictions | -$803,377 |
| Net assets with donor restrictions | $785,710 |
| 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 | $1,100,558 |