Civic Intelligence

Southern Bancorp CDC

EIN 31-1678306 • 501(c)3 • Arkadelphia, AR

Profile

To develop affordable housing for very low, low, and moderate income families, as well as commercial & industrial real estate for economic development & job creation in rural arkansas and the mississippi delta.

605 Main Street Suite 202Arkadelphia, AR 71923

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2023

Liabilities / Revenue

62nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

3rd percentile

-1338%

Higher net margin than 3% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-100%

Faster revenue growth than 4% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$0

Down $15,158 (-100%) from 2022

Liabilities

Flat

$0

Flat from 2022

Net Assets

Down

$0

Down $15,158 (-100%) from 2022

Revenue

Down

$1,133

Down $445,407 (-100%) from 2022

Expenses

Down

$16,291

Down $628,020 (-97%) from 2022

Net Income

Up

-$15,158

Up $182,613 (+92%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $7,604,610Liabilities 2011: $7,007,171Net Assets 2011: $597,4392011Assets 2012: $7,337,210Liabilities 2012: $6,572,692Net Assets 2012: $764,5182012Assets 2013: $7,030,986Liabilities 2013: $6,286,755Net Assets 2013: $744,2312013Assets 2014: $6,756,272Liabilities 2014: $6,029,507Net Assets 2014: $726,7652014Assets 2022: $15,158Liabilities 2022: $0Net Assets 2022: $15,1582022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2023

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $56,4032011Expenses 2012: $32,7962012Revenue 2013: $15,021Expenses 2013: $35,308Net Income 2013: -$20,2872013Revenue 2014: $10,000Expenses 2014: $27,466Net Income 2014: -$17,4662014Revenue 2022: $446,540Expenses 2022: $644,311Net Income 2022: -$197,7712022Revenue 2023: $1,133Expenses 2023: $16,291Net Income 2023: -$15,1582023

Highlighted filing

2023

Revenue$1,133
Expenses$16,291
Net Income-$15,158

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 28, 2024
Return Version
2023v5.1
Gross Receipts
$1,133
Mission and Program Overview

Mission

To develop affordable housing for very low, low, and moderate income families, as well as commercial & industrial real estate for economic development & job creation in rural arkansas and the mississippi delta.

Southern bancorp's mission is to create economic opportunity in rural and underserved communities by providing responsible and responsive financial products and services that balance profits with purpose.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$15,158$0▼ $15,158
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$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$15,158$0▼ $15,158
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,158$0▼ $15,158
Total Net Assets Fund Balance$15,158$0▼ $15,158
Total Liabilities and Net Assets / Fund Balance$15,158$0▼ $15,158
Compensation and Service Providers

Board Members and Trustees

NameTitle
John FrenchPresident
John OlaimeyDirector
Tanya WrightDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,133
Other Revenue
$0
Change in Net Assets
$-15,158
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,291
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$7,066--$7,066
Fees for Services Accounting$4,500--$4,500
Occupancy$3,093--$3,093
Other Expenses$1,390--$1,390
Office Expenses$242--$242
Total Functional Expenses$16,291$0$0$16,291
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-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The form 990 is first drafted by the organization's external accounting firm and chief financial officer. Once the draft is complete, it is given to the organization's president and chief executive officer for review.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is monitored by the organization's human resource department. If there are any signs of a violation, they are dealt with quickly for resolution.

Form 990, Part VI, Section C, Line 19

The organization currently does not make its governing documents or conflict of interest policy available to the public. However, the organization's financial statements are posted annually on its website.

Filing and Contact Details

Filer

Filer Name
Southern Bancorp Cdc
EIN
31-1678306
Phone
8702461080
Address
605 MAIN STREET SUITE 202, ARKADELPHIA, AR 71923

Signing Officer

Name
John French
Title
President
Phone
8702461080
Signed
2024-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John French
Formed
1998
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Hogantaylor Llp
Address
11300 CANTRELL ROAD SUITE 301, LITTLE ROCK, AR 72212
Preparer
Michelle Mann
Phone
5012275800
Raw XML Appendix314 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0SOUTHERN BANCORP'S MISSION IS TO CREATE ECONOMIC OPPORTUNITY IN RURAL AND UNDERSERVED COMMUNITIES BY PROVIDING RESPONSIBLE AND RESPONSIVE FINANCIAL PRODUCTS AND SERVICES THAT BALANCE PROFITS WITH PURPOSE.
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IRS990/Desc0SOUTHERN BANCORP COMMUNITY DEVELOPMENT CORPORATION DEVELOPS AFFORDABLE HOUSING FOR VERY LOW, LOW, AND MODERATE INCOME FAMILIES, AS WELL AS COMMERCIAL & INDUSTRIAL REAL ESTATE FOR ECONOMIC DEVELOPMENT & JOB CREATION IN RURAL ARKANSAS AND THE MISSISSIPPI DELTA.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01998
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt01000
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt01000
IRS990/GrossReceiptsAmt01133
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt0133
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0133
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LegalDomicileStateCd0AR
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt015158
IRS990/NetAssetsOrFundBalancesEOYAmt00
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt01000
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01000
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt015158
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt03093
IRS990/OccupancyGrp/TotalAmt03093
IRS990/OfficeExpensesGrp/ProgramServicesAmt0242
IRS990/OfficeExpensesGrp/TotalAmt0242
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0LANDSCAPE
IRS990/OtherExpensesGrp/ProgramServicesAmt01390
IRS990/OtherExpensesGrp/TotalAmt01390
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0JOHN FRENCH
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-144790
IRS990/PYOtherExpensesAmt0644311
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0591330
IRS990/PYRevenuesLessExpensesAmt0-197771
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IRS990/PYTotalRevenueAmt0446540
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/FactsAndCircumstancesTestTxt0SOUTHERN BANCORP CDC HAS BEEN INVOLVED IN THE DEVELOPMENT OF LOW-TO-MODERATE INCOME RENTAL PROPERTY THROUGH THE USE OF LOW INCOME HOUSING TAX CREDITS AND HISTORIC TAX CREDITS AS WELL AS COMBINATIONS OF THE TWO. SBCDC HAS BEEN A DEVELOPER AND OWNER/DEVELOPER OF THESE RESIDENTIAL RENTAL PROPERTIES AND HAS ALSO DEVELOPED CONVENTIONAL LOW-TO-MODERATE INCOME RENTAL PROPERTIES FOR SEC. 8 RENTAL ASSISTANCE. AS WELL, SBCDC HAS OWNED, DEVELOPED, AND LEASED SCHOOL FACILITIES TO NON-PROFIT ARKANSAS CHARTER SCHOOLS THROUGH THE USE OF HISTORIC TAX CREDITS. THIS ENTITY HAS LIQUIDATED. ITS PURPOSE DURING ITS LIFE CYCLE WAS TO SUPPORT A PUBLIC CAUSE AND SHOULD BE CONSIDERED TO MEET THE PUBLIC SUPPORT TEST OF 10% FACTS AND CIRCUMSTANCES.
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt057
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt052
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS FIRST DRAFTED BY THE ORGANIZATION'S EXTERNAL ACCOUNTING FIRM AND CHIEF FINANCIAL OFFICER. ONCE THE DRAFT IS COMPLETE, IT IS GIVEN TO THE ORGANIZATION'S PRESIDENT AND CHIEF EXECUTIVE OFFICER FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE ORGANIZATION'S HUMAN RESOURCE DEPARTMENT. IF THERE ARE ANY SIGNS OF A VIOLATION, THEY ARE DEALT WITH QUICKLY FOR RESOLUTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION CURRENTLY DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. HOWEVER, THE ORGANIZATION'S FINANCIAL STATEMENTS ARE POSTED ANNUALLY ON ITS WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08702461080
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTHERN BANCORP CDC
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0311678306
ReturnHeader/Filer/PhoneNum08702461080
ReturnHeader/Filer/USAddress/AddressLine1Txt0605 MAIN STREET SUITE 202
ReturnHeader/Filer/USAddress/CityNm0ARKADELPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd071923
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0731413977
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOGANTAYLOR LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011300 CANTRELL ROAD SUITE 301
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LITTLE ROCK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072212
ReturnHeader/PreparerPersonGrp/PhoneNum05012275800
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHELLE MANN
ReturnHeader/ReturnTs02024-08-28T11:05:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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