Civic Intelligence

Southeast Oklahoma Community Development Corporation

990 • Fiscal year 2022 • EIN 20-2554357

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 16, 2023

Organization ProfileN/A
209 N 4thHugo, OK 74743

(580) 326-3351

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

65th percentile

1.01x

Higher debt load relative to assets than 65% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

9.40x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Net Margin

84th percentile

24%

Higher net margin than 84% of similar nonprofits.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE L • $500k-$1M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets65th percentile

Assets

$709,888

No earlier filing loaded for comparison.

Net Assets

-$4,508

No earlier filing loaded for comparison.

Liabilities

$714,396

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin84th percentile

Revenue

$75,987

No earlier filing loaded for comparison.

Expenses

$57,380

No earlier filing loaded for comparison.

Net Income

$18,607

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0-$500KAssets 2022: $709,888Liabilities 2022: $714,396Net Assets 2022: -$4,5082022Assets 2023: $721,336Liabilities 2023: $715,241Net Assets 2023: $6,0952023Assets 2024: $849,441Liabilities 2024: $821,741Net Assets 2024: $27,7002024

Highlighted filing

2022

Assets$709,888
Liabilities$714,396
Net Assets-$4,508
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150K$100K$50K$0Revenue 2022: $75,987Expenses 2022: $57,380Net Income 2022: $18,6072022Revenue 2023: $93,971Expenses 2023: $83,368Net Income 2023: $10,6032023Revenue 2024: $141,283Expenses 2024: $119,678Net Income 2024: $21,6052024

Highlighted filing

2022

Revenue$75,987
Expenses$57,380
Net Income$18,607
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 16, 2023
Return Version
2022v5.0
Gross Receipts
$75,987
Mission and Program Overview

Mission

To improve economic and financial stability through financing and development assistance for low-income individuals and families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$510,818$558,717▲ $47,899
Cash and Non-Interest-Bearing Accounts$140,119$151,171▲ $11,052
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$650,937$709,888▲ $58,951
Other Assets Total-$0-
Liabilities
Other Liabilities$372,662$422,002▲ $49,340
Mortgage Notes Payable Secured by Investment Property$280,000$280,000→ $0
Deferred Revenue-$4,425-
Accounts Payable and Accrued Expenses$4,000$4,244▲ $244
Escrow Account Liability$17,390$3,725▼ $13,665
Total Liabilities$674,052$714,396▲ $40,344
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-23,115$-4,508▲ $18,607
Total Net Assets Fund Balance$-23,115$-4,508▲ $18,607
Total Liabilities and Net Assets / Fund Balance$650,937$709,888▲ $58,951
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
Wade ScottChairman
Brent FranksVice Chairman
David HawkinsBoard Member
David SmithBoard Member
Sandy MeeksBoard Member
Will SmithSec/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$38,205
Program Service Revenue
$2,975
Investment Income
$34,807
Other Revenue
$0
Change in Net Assets
$18,607

Audited Revenue Reconciliation

Revenue per Audited Statements
$75,987
Total Revenue per Audited Statements
$75,987
Total Revenue per Form 990
$75,987
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$30,678
Other Expenses$26,702
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$24,093--$24,093
Insurance-$12,035-$12,035
Other Employee Benefits$6,585--$6,585
Office Expenses$5,246$54-$5,300
Fees for Services Other-$4,244-$4,244
Other Expenses-$2,544-$2,544
Conferences and Meetings$2,500--$2,500
Travel$79--$79
Total Functional Expenses$38,503$18,877$0$57,380

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$57,380
Total Expenses per Audited Statements$57,380
Total Expenses per Form 990$57,380
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable to LIFT CAA$422,002
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“SOCDC does not employ any staff, all functions of the corporation are performed by LIFT CAA, Inc.”

Form 990, Part VI, Section B, Line 11B

“The 2021 revenue amount fell within the 990-N guidance. The Fiscal Officer submitted the filing and provided information to the board members at the following board meeting. For 2022, as amount has increased, the form will be presented to the board prior to filing.”

Form 990, Part VI, Section C, Line 18

“Tax returns and audits are available via agency website or by request. Other documentation is available upon request.”

Form 990, Part VI, Section C, Line 19

“Available upon request.”

Filing and Contact Details

Filer

Filer Name
Southeast Oklahoma Community Development
EIN
20-2554357
Phone
5803263351
Address
209 N 4th, Hugo, OK 74743

Signing Officer

Name
Rebecca Reynolds
Title
Executive Director
Signed
2023-10-16
Discuss with paid preparer
Yes

Organization Details

Formed
2004
Legal Domicile
Ok
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Saunders & Associates PLLC
Address
630 East 17th Street, Ada, OK 74820
Preparer
Deborah Bonner CPA
Phone
5803328548
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“Represents portion of loan proceeds not yet used.The loan officer, employed by LIFT CAA, Inc. provided financial literacy and credit counseling information to the clients of SOCDC.”

Part X : FIN48 Footnote

“SOCDC qualifies as an organization exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. SOCDC is subject to a tax on income from any unrelated business. SOCDC has no unrelated business income.The accounting standards on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, SOCDC may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the organization and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities as of December 31, 2022. SOCDC files forms 990 in the U.S. federal jurisdiction and the State of Oklahoma. Federal and state income tax statutes dictate that tax returns filed in any of the previous three reporting periods remain open to examination. Currently, SOCDC has no open examinations with the Internal Revenue Service or the Oklahoma Tax Commission.”

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/BeginningBalanceAmt017390
IRS990ScheduleD/DistributionsDuringYearAmt013665
IRS990ScheduleD/EndingBalanceAmt03725
IRS990ScheduleD/ExpensesSubtotalAmt057380
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0422002
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payable to LIFT CAA
IRS990ScheduleD/RevenueSubtotalAmt075987
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Represents portion of loan proceeds not yet used.The loan officer, employed by LIFT CAA, Inc. provided financial literacy and credit counseling information to the clients of SOCDC.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SOCDC qualifies as an organization exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. SOCDC is subject to a tax on income from any unrelated business. SOCDC has no unrelated business income.The accounting standards on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, SOCDC may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the organization and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities as of December 31, 2022. SOCDC files forms 990 in the U.S. federal jurisdiction and the State of Oklahoma. Federal and state income tax statutes dictate that tax returns filed in any of the previous three reporting periods remain open to examination. Currently, SOCDC has no open examinations with the Internal Revenue Service or the Oklahoma Tax Commission.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part IV, Line 2b: Explanation of escrow account liability
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X : FIN48 Footnote
IRS990ScheduleD/TotalExpensesPerForm990Amt057380
IRS990ScheduleD/TotalLiabilityAmt0422002
IRS990ScheduleD/TotalRevenuePerForm990Amt075987
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt075987
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt057380
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOCDC does not employ any staff, all functions of the corporation are performed by LIFT CAA, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 2021 revenue amount fell within the 990-N guidance. The Fiscal Officer submitted the filing and provided information to the board members at the following board meeting. For 2022, as amount has increased, the form will be presented to the board prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Tax returns and audits are available via agency website or by request. Other documentation is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0LIFT Community Action Agency Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0730772321
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Social Services
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0501c3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0209 N 4th
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Hugo
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0OK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd074743
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0422002
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt130677
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0LIFT Community Action Agency Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1LIFT Community Action Agency Inc
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0650937
IRS990/TotalAssetsEOYAmt0709888
IRS990/TotalAssetsGrp/BOYAmt0650937
IRS990/TotalAssetsGrp/EOYAmt0709888
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt038205
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018877
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt038503
IRS990/TotalFunctionalExpensesGrp/TotalAmt057380
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0674052
IRS990/TotalLiabilitiesEOYAmt0714396
IRS990/TotalLiabilitiesGrp/BOYAmt0674052
IRS990/TotalLiabilitiesGrp/EOYAmt0714396
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-23115
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-4508
IRS990/TotalProgramServiceExpensesAmt038503
IRS990/TotalProgramServiceRevenueAmt02975
IRS990/TotalRevenueGrp/ExclusionAmt034807
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02975
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt075987
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0650937
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0709888
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IRS990/TravelGrp/TotalAmt079
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0209 N 4th

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$709,888
Liabilities
$714,396
Net assets
-$4,508
Revenue
$75,987
Expenses
$57,380
Net income
$18,607
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.49$8.22$0.28$1.41$1.20$0.22
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.21$7.15$0.06$0.94$0.83$0.11
2022Detailed filing. Detailed filing data is available for this year.$7.10$7.14$0.05$0.76$0.57$0.19