Civic Intelligence

South Pointe Phase III Inc.

990 • Fiscal year 2023 • EIN 51-0539364

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 03, 2023

Organization Profile
300 Harrison StreetMonroe, LA 71201

(318) 388-1500

Siviq Scores

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

Liabilities / Assets

97th percentile

1.51x

Higher debt load relative to assets than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

18.47x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

5th percentile

-69%

Higher net margin than 5% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

23rd percentile

-3.9%

Faster asset growth than 23% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

76th percentile

32%

Faster revenue growth than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$2,123,454

Down $86,830 (-3.9%) from 2022

Net Assets

Down

-$1,080,369

Down $118,960 (-12%) from 2022

Liabilities

Up

$3,203,823

Up $32,130 (+1.0%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin5th percentile

Revenue

Up

$173,450

Up $42,286 (+32%) from 2022

Expenses

Up

$292,410

Up $13,012 (+4.7%) from 2022

Net Income

Up

-$118,960

Up $29,274 (+20%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$4.0M$2.0M$0-$2.0MAssets 2011: $3,209,756Liabilities 2011: $3,195,451Net Assets 2011: $14,3052011Assets 2012: $3,066,010Liabilities 2012: $3,106,304Net Assets 2012: -$40,2942012Assets 2013: $2,992,227Liabilities 2013: $3,109,157Net Assets 2013: -$116,9302013Assets 2014: $2,912,822Liabilities 2014: $3,110,112Net Assets 2014: -$197,2902014Assets 2015: $2,832,719Liabilities 2015: $3,112,766Net Assets 2015: -$280,0472015Assets 2016: $2,749,612Liabilities 2016: $3,120,750Net Assets 2016: -$371,1382016Assets 2017: $2,669,464Liabilities 2017: $3,117,848Net Assets 2017: -$448,3842017Assets 2018: $2,603,045Liabilities 2018: $3,139,574Net Assets 2018: -$536,5292018Assets 2019: $2,508,492Liabilities 2019: $3,132,199Net Assets 2019: -$623,7072019Assets 2020: $2,419,962Liabilities 2020: $3,143,025Net Assets 2020: -$723,0632020Assets 2021: $2,342,098Liabilities 2021: $3,155,273Net Assets 2021: -$813,1752021Assets 2022: $2,210,284Liabilities 2022: $3,171,693Net Assets 2022: -$961,4092022Assets 2023: $2,123,454Liabilities 2023: $3,203,823Net Assets 2023: -$1,080,3692023Assets 2024: $1,989,992Liabilities 2024: $3,201,597Net Assets 2024: -$1,211,6052024Assets 2025: $1,890,105Liabilities 2025: $3,210,909Net Assets 2025: -$1,320,8042025

Highlighted filing

2023

Assets$2,123,454
Liabilities$3,203,823
Net Assets-$1,080,369
Open 2023 Filing

Operations Trend

Revenue Growth76th percentile

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

$400K$200K$0-$200KRevenue 2011: $135,471Expenses 2011: $177,534Net Income 2011: -$42,0632011Revenue 2012: $144,423Expenses 2012: $199,022Net Income 2012: -$54,5992012Revenue 2013: $135,748Expenses 2013: $212,384Net Income 2013: -$76,6362013Revenue 2014: $133,392Expenses 2014: $213,752Net Income 2014: -$80,3602014Revenue 2015: $133,314Expenses 2015: $216,071Net Income 2015: -$82,7572015Revenue 2016: $133,501Expenses 2016: $224,592Net Income 2016: -$91,0912016Revenue 2017: $131,249Expenses 2017: $208,495Net Income 2017: -$77,2462017Revenue 2018: $136,374Expenses 2018: $224,519Net Income 2018: -$88,1452018Revenue 2019: $132,707Expenses 2019: $219,885Net Income 2019: -$87,1782019Revenue 2020: $131,717Expenses 2020: $231,073Net Income 2020: -$99,3562020Revenue 2021: $132,792Expenses 2021: $222,904Net Income 2021: -$90,1122021Revenue 2022: $131,164Expenses 2022: $279,398Net Income 2022: -$148,2342022Revenue 2023: $173,450Expenses 2023: $292,410Net Income 2023: -$118,9602023Revenue 2024: $197,949Expenses 2024: $329,185Net Income 2024: -$131,2362024Revenue 2025: $197,227Expenses 2025: $306,427Net Income 2025: -$109,2002025

Highlighted filing

2023

Revenue$173,450
Expenses$292,410
Net Income-$118,960
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 3, 2023
Return Version
2022v5.0
Gross Receipts
$173,450
Mission and Program Overview

Mission

To provide affordable housing to the elderly and/or disabled.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,013,575$1,924,377▼ $89,198
Savings and Temporary Cash Investments$171,276$145,023▼ $26,253
Prepaid Expenses and Deferred Charges$17,911$22,226▲ $4,315
Accounts Receivable-$16,546-
Cash and Non-Interest-Bearing Accounts$7,522$15,282▲ $7,760
Total Assets$2,210,284$2,123,454▼ $86,830
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,097,300$3,097,300→ $0
Other Liabilities$72,518$102,165▲ $29,647
Accounts Payable and Accrued Expenses$1,634$4,020▲ $2,386
Deferred Revenue$241$338▲ $97
Total Liabilities$3,171,693$3,203,823▲ $32,130
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-961,409$-1,080,369▼ $118,960
Total Net Assets Fund Balance$-961,409$-1,080,369▼ $118,960
Total Liabilities and Net Assets / Fund Balance$2,210,284$2,123,454▼ $86,830

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,722,038$846,500$2,568,538
Leasehold Improvements$162,354$390,759$553,113
Land$37,190-$37,190
Equipment$2,795$25,500$28,295
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Joe FarrPresident
Gladys SmithBoard Member
Hal HinchcliffeBoard Member
Isaiah WoodsBoard Member
Patricia GixBoard Member
Sharon TaylorBoard Member
William SmartExecutive Di
Cheryl FarmerSecretary/tr
Lorette HudsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$168,096
Investment Income
$643
Other Revenue
$4,711
Change in Net Assets
$-118,960

Audited Revenue Reconciliation

Revenue per Audited Statements
$173,450
Total Revenue per Audited Statements
$173,450
Total Revenue per Form 990
$173,450
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$242,956
Salaries, Compensation, and Employee Benefits$49,454
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$89,197--$89,197
Occupancy$46,243--$46,243
Other Salaries and Wages$32,129$20-$32,149
Other Employee Benefits$16,267--$16,267
Fees for Services Accounting-$8,765-$8,765
All Other Expenses$8,072--$8,072
Other Expenses$5,831$15,812-$5,831
Payroll Taxes$2,277--$2,277
Pension Plan Contributions$-1,239--$-1,239
Total Functional Expenses$267,813$24,597$0$292,410

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$292,410
Total Expenses per Audited Statements$292,410
Total Expenses per Form 990$292,410
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to General Fund$92,844
Tenant Security Deposits$9,008
Due to South Pointe Ii$313
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Officers review the form 990 prior to filing with the irs.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
South Pointe Phase Iii Inc
EIN
51-0539364
Phone
3183881500
Address
300 HARRISON STREET, MONROE, LA 71201

Signing Officer

Name
Cheryl Farmer
Title
Secretary/treasurer
Phone
3183871500
Signed
2023-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joe Farr
Formed
2005
Legal Domicile
La
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Little & Associates
Address
805 N 31ST ST, MONROE, LA 71201
Preparer
Angela J Bryan CPA
Phone
3183619600
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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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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01121
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/PublicSupportCY509Pct00.99840
IRS990ScheduleA/PublicSupportPY509Pct00.99910
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0132666
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IRS990ScheduleD/BuildingsGrp/BookValueAmt01722038
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0846500
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02568538
IRS990ScheduleD/EquipmentGrp/BookValueAmt02795
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025500
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028295
IRS990ScheduleD/ExpensesSubtotalAmt0292410
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt037190
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0162354
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0390759
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0553113
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt092844
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt19008
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2313
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO SOUTH POINTE II
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt01924377
IRS990ScheduleD/TotalExpensesPerForm990Amt0292410
IRS990ScheduleD/TotalLiabilityAmt0102165
IRS990ScheduleD/TotalRevenuePerForm990Amt0173450
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0173450
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICERS REVIEW THE FORM 990 PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02123454
IRS990/TotalAssetsGrp/BOYAmt02210284
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024597
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0267813
IRS990/TotalFunctionalExpensesGrp/TotalAmt0292410
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03171693
IRS990/TotalLiabilitiesEOYAmt03203823
IRS990/TotalLiabilitiesGrp/BOYAmt03171693
IRS990/TotalLiabilitiesGrp/EOYAmt03203823
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IRS990/TotalProgramServiceExpensesAmt0267813
IRS990/TotalProgramServiceRevenueAmt0168096
IRS990/TotalRevenueGrp/ExclusionAmt0643
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0172807
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0173450
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 2110
IRS990/USAddress/CityNm0MONROE
IRS990/USAddress/StateAbbreviationCd0LA
IRS990/USAddress/ZIPCd071207
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHERYL FARMER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03183871500
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH POINTE PHASE III INC
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0510539364
ReturnHeader/Filer/PhoneNum03183881500
ReturnHeader/Filer/USAddress/AddressLine1Txt0300 HARRISON STREET
ReturnHeader/Filer/USAddress/CityNm0MONROE
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0721389444
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LITTLE & ASSOCIATES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0805 N 31ST ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MONROE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0LA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd071201
ReturnHeader/PreparerPersonGrp/PhoneNum03183619600
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANGELA J BRYAN CPA
ReturnHeader/ReturnTs02023-11-09T09:43:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHERYL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FARMER
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,123,454
Liabilities
$3,203,823
Net assets
-$1,080,369
Revenue
$173,450
Expenses
$292,410
Net income
-$118,960
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.89$3.21$1.32$0.20$0.31$0.11
2024Detailed filing. Detailed filing data is available for this year.$1.99$3.20$1.21$0.20$0.33$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.12$3.20$1.08$0.17$0.29$0.12
2022Detailed filing. Detailed filing data is available for this year.$2.21$3.17$0.96$0.13$0.28$0.15
2021Detailed filing. Detailed filing data is available for this year.$2.34$3.16$0.81$0.13$0.22$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.42$3.14$0.72$0.13$0.23$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.51$3.13$0.62$0.13$0.22$0.09
2018Detailed filing. Detailed filing data is available for this year.$2.60$3.14$0.54$0.14$0.22$0.09
2017Detailed filing. Detailed filing data is available for this year.$2.67$3.12$0.45$0.13$0.21$0.08
2016Detailed filing. Detailed filing data is available for this year.$2.75$3.12$0.37$0.13$0.22$0.09
2015Detailed filing. Detailed filing data is available for this year.$2.83$3.11$0.28$0.13$0.22$0.08
2014Summary only. Only limited summary data is available for this year.$2.91$3.11$0.20$0.13$0.21$0.08
2013Summary only. Only limited summary data is available for this year.$2.99$3.11$0.12$0.14$0.21$0.08
2012Summary only. Only limited summary data is available for this year.$3.07$3.11$0.04$0.14$0.20$0.05
2011Summary only. Only limited summary data is available for this year.$3.21$3.20$0.01$0.14$0.18$0.04