Southern Development Foundation
- Assets
- $2.6m
- Revenue
- $329.3k
- Investments
- $5.0k
- Employees
- 0
- Location
- Lafayette, LA
- Founding
- 09/1973
- Data as of
- 12/2023
- 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 12/2023, Southern Development Foundation generated $329.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $170.4k 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 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 |
|---|---|---|---|
Aubrey Howard President | Trustee | 0 | $0 |
John Freeman Executive Dir. | OfficerTrustee | 0 | $0 |
Charles Goodie Treasurer | Trustee | 0 | $0 |
George Robins Vice President | OfficerTrustee | 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 | $169,376 |
| 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 | $329,325 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,703 |
| Payroll taxes | $1,050 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,500 |
| Fees for services: Accounting | $1,777 |
| 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 | $877 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,750 |
| Travel | $12,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $42,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,227 |
| Insurance | $0 |
| All other expenses | $6,218 |
| Total functional expenses | $170,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,737 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,060 |
| 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 | $4,513 |
| Net Land, buildings, and equipment | $2,414,092 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,960 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $2,595,363 |
| Accounts payable and accrued expenses | $91,611 |
| 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 | $1,105,813 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,197,424 |
| Net assets without donor restrictions | $1,397,939 |
| 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 | $2,595,363 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kkac Organization Little Rock, AR | $690,405 | $1,575,689 |
Delta Conservation Demonstration Center Metcalfe, MS | $466,230 | $298,841 |
Southern Development Foundation Lafayette, LA | $2,595,363 | $329,325 |
Louisiana Agricultural Consultants Association Inc Cheneyville, LA | $174,512 | $0 |
Oxford City Market Oxford, MS | $200,588 | $0 |
The Mississippi Agricultural West Point, MS | $83,776 | $0 |
Ste Christine & St Nestor Foundation Inc San Antonio, TX | $0 | $0 |
Texas Miniature Hereford Youth Organization Hitchcock, TX | $31,466 | $0 |