Civic Intelligence

Southern Independent Formal Wear Association

EIN 63-1048391 • 501(c)6 • Tuscaloosa, AL

Profile

Dedicated to education, research, the advancement in general of the science, art and business of formal wear rental and sales.

1810 University BlvdTuscaloosa, AL 35401

selectformalwear.org

Siviq Scores

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

Liabilities / Assets

49th percentile

0.00x

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

501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

51st percentile

0.00x

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

501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

19th percentile

-25%

Higher net margin than 19% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

501(c)6 • <$500k nonprofits • Source year 2024

Asset Growth

18th percentile

-37%

Faster asset growth than 18% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

55th percentile

2.0%

Faster revenue growth than 55% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$39,765

Down $23,239 (-37%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$39,765

Down $23,239 (-37%) from 2023

Revenue

Up

$93,066

Up $1,848 (+2.0%) from 2023

Expenses

Up

$116,305

Up $12,692 (+12%) from 2023

Net Income

Down

-$23,239

Down $10,844 (-87%) from 2023

Trend Graphs

Balance Sheet Trend

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

$80K$60K$40K$20K$0Assets 2016: $37,389Liabilities 2016: $0Net Assets 2016: $37,3892016Assets 2017: $48,746Liabilities 2017: $0Net Assets 2017: $48,7462017Assets 2018: $52,771Liabilities 2018: $0Net Assets 2018: $52,7712018Assets 2019: $63,353Liabilities 2019: $0Net Assets 2019: $63,3532019Assets 2020: $29,836Liabilities 2020: $0Net Assets 2020: $29,8362020Assets 2021: $50,986Liabilities 2021: $0Net Assets 2021: $50,9862021Assets 2022: $75,199Liabilities 2022: $0Net Assets 2022: $75,1992022Assets 2023: $63,004Liabilities 2023: $0Net Assets 2023: $63,0042023Assets 2024: $39,765Liabilities 2024: $0Net Assets 2024: $39,7652024

Highlighted filing

2024

Assets$39,765
Liabilities$0
Net Assets$39,765

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2016: $58,306Expenses 2016: $64,791Net Income 2016: -$6,4852016Revenue 2017: $140,732Expenses 2017: $129,375Net Income 2017: $11,3572017Revenue 2018: $148,818Expenses 2018: $144,793Net Income 2018: $4,0252018Revenue 2019: $148,466Expenses 2019: $137,884Net Income 2019: $10,5822019Revenue 2020: $4,850Expenses 2020: $47,947Net Income 2020: -$43,0972020Revenue 2021: $129,082Expenses 2021: $107,932Net Income 2021: $21,1502021Revenue 2022: $109,464Expenses 2022: $85,251Net Income 2022: $24,2132022Revenue 2023: $91,218Expenses 2023: $103,613Net Income 2023: -$12,3952023Revenue 2024: $93,066Expenses 2024: $116,305Net Income 2024: -$23,2392024

Highlighted filing

2024

Revenue$93,066
Expenses$116,305
Net Income-$23,239

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 4, 2023
Return Version
2022v5.0
Gross Receipts
$109,464
Mission and Program Overview

Mission

Dedicated to education, research, the advancement in general of the science, art and business of formal wear rental and sales.

To educate and research the advancement in the science and art of the formal wear rental and sales business.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$48,450$75,199▲ $26,749
Accounts Receivable$2,536--
Total Assets$50,986$75,199▲ $24,213
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$50,986$75,199▲ $24,213
Total Net Assets Fund Balance$50,986$75,199▲ $24,213
Total Liabilities and Net Assets / Fund Balance$50,986$75,199▲ $24,213
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jim DuboisPresident
Rachel HowellSecretary
Danny BurchTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$38,983
Program Service Revenue
$70,481
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$24,213
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,251
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
Office Expenses$29,184$559-$29,743
Fees for Services Management$21,937$7,313-$29,250
Conferences and Meetings$10,827$10,830-$21,657
Advertising$3,231--$3,231
Fees for Services Other$1,370--$1,370
Total Functional Expenses$66,549$18,702$0$85,251
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Southern Independent Formal Wear
EIN
63-1048391
Phone
2057591466
Address
1810 UNIVERSITY BLVD, TUSCALOOSA, AL 35401

Signing Officer

Name
Danny Burch
Title
Treasurer
Phone
2057591466
Signed
2023-05-04

Organization Details

Principal Officer
Jim Dubois
Formed
2013
Voting Board Members
9
Independent Board Members
0
Employees
0

Preparer

Firm
Covenant Consulting Group LLC
Address
521 ENERGY CENTER BLVD STE 1501, NORTHPORT, AL 35473-5833
Preparer
Raiford G Dyer Jr CPA
Phone
2053459898
Raw XML Appendix233 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
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IRS990/Form990ProvidedToGvrnBodyInd0false
IRS990/FormationYr02013
IRS990/FormerOfcrEmployeesListedInd0false
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IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0109464
IRS990/GroupReturnForAffiliatesInd0false
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IRS990/IndependentVotingMemberCnt00
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IRS990/IRPDocumentCnt03
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IRS990/NondeductibleContributionsInd0false
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 501(c)6 • <$500k nonprofits