Civic Intelligence

Southwest Intermediary Fianance Team Inc

EIN 45-5151663 • 501(c)3 • Weatherford, OK

Profile

To help develop a diverse economy that bolsters business start-up and retention while increasing employment opportunities in rural Oklahoma.

100 Campus DrWeatherford, OK 73096

siftok.fund

Siviq Scores

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

Liabilities / Assets

57th percentile

0.24x

Higher debt load relative to assets than 57% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

5.01x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

29th percentile

-2.3%

Higher net margin than 29% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

32nd percentile

-0.4%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

1st percentile

-91%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$18,852,021

Down $82,583 (-0.4%) from 2023

Liabilities

Down

$4,537,008

Down $61,703 (-1.3%) from 2023

Net Assets

Down

$14,315,013

Down $20,880 (-0.1%) from 2023

Operations
Liabilities / Revenue94th percentileNet Margin29th percentile

Revenue

Down

$905,963

Down $8,645,276 (-91%) from 2023

Expenses

Up

$926,843

Up $275,691 (+42%) from 2023

Net Income

Down

-$20,880

Down $8,920,967 (-100%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth32nd percentile

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

$20M$15M$10M$5.0M$0Assets 2012: $1Liabilities 2012: $02012Assets 2013: $10Liabilities 2013: $02013Assets 2017: $1,393,086Liabilities 2017: $1,302,215Net Assets 2017: $90,8712017Assets 2018: $1,832,217Liabilities 2018: $1,543,915Net Assets 2018: $288,3022018Assets 2019: $2,786,169Liabilities 2019: $2,032,374Net Assets 2019: $753,7952019Assets 2020: $3,212,353Liabilities 2020: $2,254,919Net Assets 2020: $957,4342020Assets 2021: $5,607,463Liabilities 2021: $3,103,239Net Assets 2021: $2,504,2242021Assets 2022: $8,334,774Liabilities 2022: $2,898,968Net Assets 2022: $5,435,8062022Assets 2023: $18,934,604Liabilities 2023: $4,598,711Net Assets 2023: $14,335,8932023Assets 2024: $18,852,021Liabilities 2024: $4,537,008Net Assets 2024: $14,315,0132024

Highlighted filing

2024

Assets$18,852,021
Liabilities$4,537,008
Net Assets$14,315,013
Open 2024 Filing

Operations Trend

Revenue Growth1st percentile

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

$10M$5.0M$0-$5.0MRevenue 2012: $0Expenses 2012: $0Net Income 2012: $02012Revenue 2013: $10Expenses 2013: $0Net Income 2013: $102013Revenue 2017: $125,464Expenses 2017: $45,930Net Income 2017: $79,5342017Revenue 2018: $348,786Expenses 2018: $151,355Net Income 2018: $197,4312018Revenue 2019: $567,293Expenses 2019: $101,800Net Income 2019: $465,4932019Revenue 2020: $310,668Expenses 2020: $106,629Net Income 2020: $204,0392020Revenue 2021: $1,948,988Expenses 2021: $267,921Net Income 2021: $1,681,0672021Revenue 2022: $3,255,146Expenses 2022: $323,564Net Income 2022: $2,931,5822022Revenue 2023: $9,551,239Expenses 2023: $651,152Net Income 2023: $8,900,0872023Revenue 2024: $905,963Expenses 2024: $926,843Net Income 2024: -$20,8802024

Highlighted filing

2024

Revenue$905,963
Expenses$926,843
Net Income-$20,880
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$18,852,021
Liabilities
$4,537,008
Net assets
$14,315,013
Revenue
$905,963
Expenses
$926,843
Net income
-$20,880
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.9$4.54$14.3$0.91$0.93$0.02
2023Summary only. Only limited summary data is available for this year.$18.9$4.60$14.3$9.55$0.65$8.90
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.33$2.90$5.44$3.26$0.32$2.93
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.61$3.10$2.50$1.95$0.27$1.68
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$2.25$0.96$0.31$0.11$0.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.79$2.03$0.75$0.57$0.10$0.47
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.83$1.54$0.29$0.35$0.15$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$1.30$0.09$0.13$0.05$0.08
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 6, 2025
Return Version
2024v5.2
Gross Receipts
$905,963
Mission and Program Overview

Mission

To help develop a diverse economy that bolsters business start-up and retention while increasing employment opportunities in rural oklahoma.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$17,012,517$16,138,032▼ $874,485
Cash and Non-Interest-Bearing Accounts$1,693,400$2,472,684▲ $779,284
Land, Buildings, and Equipment, Net$228,687$241,305▲ $12,618
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 in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$18,934,604$18,852,021▼ $82,583
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$4,597,293$4,527,758▼ $69,535
Accounts Payable and Accrued Expenses$1,418$9,250▲ $7,832
Total Liabilities$4,598,711$4,537,008▼ $61,703
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,335,893$14,315,013▼ $20,880
Total Net Assets Fund Balance$14,335,893$14,315,013▼ $20,880
Total Liabilities and Net Assets / Fund Balance$18,934,604$18,852,021▼ $82,583

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$131,760$352,875$484,635
Buildings$109,545$5,555$115,100
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
Doug MisakPresident
Dennis KruegerPresident & CEO
John VealVice President
Max PyronVice President
James CoveyTrustee
Joni BondTrustee
Leia MooreCOO
Andrew CarruthMember
Marvin HankinsMember
Tom FaganMember
Beverly HightSecretary
Bryce ButcherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$206,088
Program Service Revenue
$699,875
Investment Income
$0
Other Revenue
$0
All Other Contributions
$60,300
Change in Net Assets
$-20,880

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$60,000Actual Wages Paid
Total Noncash Contributions1$60,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$905,963
Revenue Not Reported on Form 990
$-49,718
Total Revenue per Audited Statements
$856,245
Total Revenue per Form 990
$905,963
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$926,843
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
Depreciation Depletion$99,482--$99,482
Fees for Services Other$57,645--$57,645
Interest$38,450--$38,450
Travel$14,002--$14,002
Office Expenses-$12,996-$12,996
Insurance$9,473--$9,473
Occupancy$3,871--$3,871
All Other Expenses$3,319$511-$3,830
Other Expenses$3,606--$3,606
Total Functional Expenses$913,336$13,507$0$926,843

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$926,843
Total Expenses per Form 990$926,843
Total Expenses per Audited Statements$866,843
Expenses Not Reported on Form 990$-60,000
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
Audit committee
Yes
Backup withholding compliance
No
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
No

Governance Explanations

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

“A draft of the 990 was securely emailed to the President and Secretary, who in turn forwarded the draft to the board members. Members were encouraged to review the 990 and pose any questions before the return was e-filed.”

Form 990, Part VI, Section C, Line 19

“Upon request from the general public all formation documents and the last three years of tax returns are made available within a reasonable amount of time.”

Filing and Contact Details

Filer

Filer Name
Southwest Intermediary Finance Team Inc
EIN
45-5151663
Phone
5807743750
Address
100 Campus Dr, Weatherford, OK 73096

Signing Officer

Name
Doug Misak
Title
President
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Ok
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
11

Preparer

Firm
Rsmeacham Cpas & Advisors
Address
801 FRISCO AVE, CLINTON, OK 73601
Preparer
Randolph S Meacham Jr
Phone
5803231766
Supplemental Narrative

Additional Explanations

Amended and Restated Bylaws

“Southwest Intermediary Finance Team Inc is no longer a membership organization as of June 4, 2024.”

Loans Issued Through USDA Intermediary Relending Programs

“In October 2024, SWIFT issued a promissory note to Mother Road RV, Boat & Trailer Storage, LLC for $134,000 with a 5.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2024, the balance of the note receivable was $132,009.”

Loans Issued Through USDA Meat & Poultry Intermediary Lending Program

“None for 2024.”

Loans Issued with EDA Grant Proceeds

“In September 2024, SWIFT issued a promissory note to Kyle Burrows for $455,000 with a 5.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through grant proceeds offered by the EDA. As of December 31, 2024, the balance of the note receivable was $449,856.”

Loans Issued with USDA Grant Proceeds

“None issued in 2024.”

Loans Receivable Issued with SWIFT Funds

“In January 2024, SWIFT issued a promissory note to Tin City Roasters for $165,000 with a 5.0% annual interest rate. As of December 31, 2024, the balance of the note receivable was $159,192.In January 2024, SWIFT issued a promissory note to Kelsey Eddinger for $20,000 with a 5.0% annual interest rate. As of December 31, 2024, the balance of the note receivable was $17,800.In June 2024, SWIFT issued a promissory note to Sweet Miracles Daycare, LLC for $15,000 with a 5.5% annual interest rate. As of December 31, 2024, the balance of the note receivable was $13,700.”

Financial Statement Notes

Part X : FIN48 Footnote

“The FASB issued guidance on the accounting for uncertainty in income taxes. Management evaluates and accounts for their uncertain tax positions, if any, in accordance with current accounting guidance. Management has concluded that SWIFT has taken no uncertain tax positions that require adjustment to financial statements in order to comply with the provisions of this guidance. With few exceptions, SWIFT is no longer subject to income tax examinations for years ending on or before December 31, 2018.”

Raw XML AppendixShowing 400 of 501 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/MissionDesc0To help develop a diverse economy that bolsters business start-up and retention while increasing employment opportunities in rural Oklahoma.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The FASB issued guidance on the accounting for uncertainty in income taxes. Management evaluates and accounts for their uncertain tax positions, if any, in accordance with current accounting guidance. Management has concluded that SWIFT has taken no uncertain tax positions that require adjustment to financial statements in order to comply with the provisions of this guidance. With few exceptions, SWIFT is no longer subject to income tax examinations for years ending on or before December 31, 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A draft of the 990 was securely emailed to the President and Secretary, who in turn forwarded the draft to the board members. Members were encouraged to review the 990 and pose any questions before the return was e-filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Upon request from the general public all formation documents and the last three years of tax returns are made available within a reasonable amount of time.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Southwest Intermediary Finance Team Inc is no longer a membership organization as of June 4, 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3In October 2024, SWIFT issued a promissory note to Mother Road RV, Boat & Trailer Storage, LLC for $134,000 with a 5.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through the intermediary relending program offered by the USDA. As of December 31, 2024, the balance of the note receivable was $132,009.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4None for 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5In September 2024, SWIFT issued a promissory note to Kyle Burrows for $455,000 with a 5.0% annual interest rate. SWIFT serves as the intermediary and lent the funds through grant proceeds offered by the EDA. As of December 31, 2024, the balance of the note receivable was $449,856.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6None issued in 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7In January 2024, SWIFT issued a promissory note to Tin City Roasters for $165,000 with a 5.0% annual interest rate. As of December 31, 2024, the balance of the note receivable was $159,192.In January 2024, SWIFT issued a promissory note to Kelsey Eddinger for $20,000 with a 5.0% annual interest rate. As of December 31, 2024, the balance of the note receivable was $17,800.In June 2024, SWIFT issued a promissory note to Sweet Miracles Daycare, LLC for $15,000 with a 5.5% annual interest rate. As of December 31, 2024, the balance of the note receivable was $13,700.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Amended and Restated Bylaws
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Loans Issued Through USDA Intermediary Relending Programs
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Loans Issued Through USDA Meat & Poultry Intermediary Lending Program
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Loans Issued with EDA Grant Proceeds
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Loans Issued with USDA Grant Proceeds
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Loans Receivable Issued with SWIFT Funds
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