Civic Intelligence

Southeast Oklahoma Community Development Corporation

990 • Fiscal year 2023 • EIN 20-2554357

Jan 01, 2023 to Dec 31, 2023 • Filed on May 16, 2024

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

68th percentile

0.99x

Higher debt load relative to assets than 68% of similar nonprofits.

2023 filings • NTEE L • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

7.61x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • NTEE L • $500k-$1M nonprofits • Source year 2023

Net Margin

72nd percentile

11%

Higher net margin than 72% of similar nonprofits.

2023 filings • NTEE L • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

2023 filings • NTEE L • $500k-$1M nonprofits • Source year 2023

Asset Growth

66th percentile

1.6%

Faster asset growth than 66% of similar nonprofits.

2023 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

82nd percentile

24%

Faster revenue growth than 82% of similar nonprofits.

2023 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$721,336

Up $11,448 (+1.6%) from 2022

Net Assets

Up

$6,095

Up $10,603 (+235%) from 2022

Liabilities

Up

$715,241

Up $845 (+0.1%) from 2022

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin72nd percentile

Revenue

Up

$93,971

Up $17,984 (+24%) from 2022

Expenses

Up

$83,368

Up $25,988 (+45%) from 2022

Net Income

Down

$10,603

Down $8,004 (-43%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

2023

Assets$721,336
Liabilities$715,241
Net Assets$6,095
Open 2023 Filing

Operations Trend

Revenue Growth82nd percentile

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

2023

Revenue$93,971
Expenses$83,368
Net Income$10,603
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 16, 2024
Return Version
2023v5.0
Gross Receipts
$93,971
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$558,717$496,669▼ $62,048
Cash and Non-Interest-Bearing Accounts$151,171$223,317▲ $72,146
Accounts Receivable-$1,350-
Savings and Temporary Cash Investments-$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$709,888$721,336▲ $11,448
Other Assets Total-$0-
Liabilities
Other Liabilities$422,002$422,002→ $0
Mortgage Notes Payable Secured by Investment Property$280,000$280,000→ $0
Deferred Revenue$4,425$8,739▲ $4,314
Accounts Payable and Accrued Expenses$4,244$4,500▲ $256
Escrow Account Liability$3,725--
Total Liabilities$714,396$715,241▲ $845
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-4,508$6,095▲ $10,603
Total Net Assets Fund Balance$-4,508$6,095▲ $10,603
Total Liabilities and Net Assets / Fund Balance$709,888$721,336▲ $11,448
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$48,147
Program Service Revenue
$5,707
Investment Income
$40,117
Other Revenue
$0
Change in Net Assets
$10,603

Audited Revenue Reconciliation

Revenue per Audited Statements
$93,971
Total Revenue per Audited Statements
$93,971
Total Revenue per Form 990
$93,971
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$42,924
Other Expenses$40,444
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$33,829--$33,829
Insurance-$15,381-$15,381
Interest$12,080--$12,080
Fees for Services Other-$11,000-$11,000
Other Employee Benefits$9,095--$9,095
Office Expenses$4,055$21-$4,076
Conferences and Meetings$1,168--$1,168
Other Expenses-$-3,261-$-3,261
Total Functional Expenses$60,227$23,141$0$83,368

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$83,368
Total Expenses per Audited Statements$83,368
Total Expenses per Form 990$83,368
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

“Each board member received an electronic copy of the Form 990 prior to filing. They submitted electronic votes via email to approve the filing of the form. Documentation is on file in the administrative office.”

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
2024-05-16
Discuss with paid preparer
Yes

Organization Details

Formed
2004
Legal Domicile
Ok
Voting Board Members
7
Independent Board Members
7
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, 2023. 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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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt048147
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt038205
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt029909
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0116261
IRS990ScheduleA/TotalSupportAmt0205026
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BeginningBalanceAmt03725
IRS990ScheduleD/DistributionsDuringYearAmt03725
IRS990ScheduleD/ExpensesSubtotalAmt083368
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0422002
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payable to LIFT CAA
IRS990ScheduleD/RevenueSubtotalAmt093971
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, 2023. 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/TotalExpensesPerForm990Amt083368
IRS990ScheduleD/TotalLiabilityAmt0422002
IRS990ScheduleD/TotalRevenuePerForm990Amt093971
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt093971
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt083368
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/ExplanationTxt1Each board member received an electronic copy of the Form 990 prior to filing. They submitted electronic votes via email to approve the filing of the form. Documentation is on file in the administrative office.
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
IRS990ScheduleR/AssetExchangeInd0false
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
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0422002
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt142924
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0LIFT Community Action Agency Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1LIFT Community Action Agency Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0e
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1o
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OK
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0709888
IRS990/TotalAssetsEOYAmt0721336
IRS990/TotalAssetsGrp/BOYAmt0709888
IRS990/TotalAssetsGrp/EOYAmt0721336
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt048147
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023141
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt060227
IRS990/TotalFunctionalExpensesGrp/TotalAmt083368
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0714396
IRS990/TotalLiabilitiesEOYAmt0715241
IRS990/TotalLiabilitiesGrp/BOYAmt0714396
IRS990/TotalLiabilitiesGrp/EOYAmt0715241
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-4508
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06095
IRS990/TotalProgramServiceExpensesAmt060227
IRS990/TotalProgramServiceRevenueAmt05707
IRS990/TotalRevenueGrp/ExclusionAmt040117
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05707
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt093971
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0709888
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0721336
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$721,336
Liabilities
$715,241
Net assets
$6,095
Revenue
$93,971
Expenses
$83,368
Net income
$10,603
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
2023Detailed filing. Detailed filing data is available for this year.$7.21$7.15$0.06$0.94$0.83$0.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.10$7.14$0.05$0.76$0.57$0.19