Civic Intelligence

Southern Financial Exchange

990 • Fiscal year 2018 • EIN 72-0797058

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 07, 2019

Organization ProfileWWW.SFE.ORG

View Organization Page

1340 Poydras Street No 2010New Orleans, LA 70112-1221

(504) 525-6779

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.35x

Higher debt load relative to assets than 72% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

0.66x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Net Margin

68th percentile

8.6%

Higher net margin than 68% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

82nd percentile

$253,080

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 22.1% of source-year revenue.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2018

Asset Growth

61st percentile

5.4%

Faster asset growth than 61% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

60th percentile

5.7%

Faster revenue growth than 60% of similar nonprofits.

2018 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$2,169,905

Up $110,318 (+5.4%) from 2017

Net Assets

Up

$1,415,993

Up $98,412 (+7.5%) from 2017

Liabilities

Up

$753,912

Up $11,906 (+1.6%) from 2017

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin68th percentile

Revenue

Up

$1,144,669

Up $61,789 (+5.7%) from 2017

Expenses

Up

$1,046,257

Up $24,271 (+2.4%) from 2017

Net Income

Up

$98,412

Up $37,518 (+62%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $1,840,996Liabilities 2010: $676,935Net Assets 2010: $1,164,0612010Assets 2011: $1,927,476Liabilities 2011: $649,448Net Assets 2011: $1,278,0282011Assets 2012: $1,969,367Liabilities 2012: $653,055Net Assets 2012: $1,316,3122012Assets 2013: $2,060,865Liabilities 2013: $660,438Net Assets 2013: $1,400,4272013Assets 2014: $2,025,993Liabilities 2014: $664,970Net Assets 2014: $1,361,0232014Assets 2015: $1,891,584Liabilities 2015: $676,401Net Assets 2015: $1,215,1832015Assets 2016: $1,920,691Liabilities 2016: $664,004Net Assets 2016: $1,256,6872016Assets 2017: $2,059,587Liabilities 2017: $742,006Net Assets 2017: $1,317,5812017Assets 2018: $2,169,905Liabilities 2018: $753,912Net Assets 2018: $1,415,9932018Assets 2019: $2,185,350Liabilities 2019: $768,132Net Assets 2019: $1,417,2182019Assets 2020: $2,268,510Liabilities 2020: $794,011Net Assets 2020: $1,474,4992020Assets 2021: $2,453,548Liabilities 2021: $846,390Net Assets 2021: $1,607,1582021Assets 2022: $2,564,260Liabilities 2022: $1,016,081Net Assets 2022: $1,548,1792022Assets 2023: $2,635,843Liabilities 2023: $918,424Net Assets 2023: $1,717,4192023Assets 2024: $2,949,471Liabilities 2024: $927,350Net Assets 2024: $2,022,1212024

Highlighted filing

2018

Assets$2,169,905
Liabilities$753,912
Net Assets$1,415,993
Open 2018 Filing

Operations Trend

Revenue Growth60th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2010: $1,010,948Expenses 2010: $953,079Net Income 2010: $57,8692010Revenue 2011: $1,053,192Expenses 2011: $939,225Net Income 2011: $113,9672011Expenses 2012: $994,4512012Revenue 2013: $1,037,410Expenses 2013: $953,295Net Income 2013: $84,1152013Revenue 2014: $1,030,959Expenses 2014: $1,070,363Net Income 2014: -$39,4042014Revenue 2015: $1,048,158Expenses 2015: $1,193,998Net Income 2015: -$145,8402015Revenue 2016: $1,101,015Expenses 2016: $1,059,511Net Income 2016: $41,5042016Revenue 2017: $1,082,880Expenses 2017: $1,021,986Net Income 2017: $60,8942017Revenue 2018: $1,144,669Expenses 2018: $1,046,257Net Income 2018: $98,4122018Revenue 2019: $1,189,961Expenses 2019: $1,198,242Net Income 2019: -$8,2812019Revenue 2020: $1,148,072Expenses 2020: $1,093,431Net Income 2020: $54,6412020Revenue 2021: $1,354,861Expenses 2021: $1,209,504Net Income 2021: $145,3572021Revenue 2022: $1,479,798Expenses 2022: $1,538,777Net Income 2022: -$58,9792022Revenue 2023: $1,603,864Expenses 2023: $1,434,624Net Income 2023: $169,2402023Revenue 2024: $1,825,281Expenses 2024: $1,520,579Net Income 2024: $304,7022024

Highlighted filing

2018

Revenue$1,144,669
Expenses$1,046,257
Net Income$98,412
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 7, 2019
Return Version
2018v3.1
Gross Receipts
$1,144,669
Mission and Program Overview

Mission

Our mission is to provide leadership, education, and innovative, cost effective products and services for the mutual benefit of our members and their customers.

Promotion of electronic funds transfer through the automatic clearing house for member financial institutions which include banks, savings & loans, and credit unions. Our mission is to provide leadership, education, and innovative, cost effective products and services for the mutual benefit of our members and their customers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,524,904$1,588,057▲ $63,153
Accounts Receivable$485,239$531,556▲ $46,317
Prepaid Expenses and Deferred Charges$13,970$20,513▲ $6,543
Land, Buildings, and Equipment, Net$16,527$17,618▲ $1,091
Inventories for Sale or Use$17,643$10,911▼ $6,732
Total Assets$2,059,587$2,169,905▲ $110,318
Other Assets Total$1,304$1,250▼ $54
Liabilities
Deferred Revenue$648,553$669,241▲ $20,688
Accounts Payable and Accrued Expenses$93,453$84,671▼ $8,782
Total Liabilities$742,006$753,912▲ $11,906
Net Assets / Fund Balance
Unrestricted Net Assets$1,317,581$1,415,993▲ $98,412
Total Net Assets Fund Balance$1,317,581$1,415,993▲ $98,412
Total Liabilities and Net Assets / Fund Balance$2,059,587$2,169,905▲ $110,318

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,618$47,813$65,431
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald JacksonPresident & CEOFT$157,830$95,250$253,080

Board Members and Trustees

NameTitle
Nick AndersonChair
Bj CooleyDirector
Brenda H Eldridge CPADirector
Bryan G RowellDirector
Ean ColleyDirector
Ep MorganDirector
Floyd BrummettDirector
James M Fazende IiiDirector
James N Chaffin JrDirector
Janiece WrightDirector
Jimmy GammillDirector
Karen DoyleDirector
Kelly KikerDirector
Pam WareDirector
Ryan HaydelDirector
Scheila Davis AapDirector
Tammy GilmerDirector
Tim ClementsDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$647,093
Program Service Revenue
$472,571
Investment Income
$15,271
Other Revenue
$9,734
Change in Net Assets
$98,412
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$704,675
Other Expenses$341,582
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$274,869$56,299-$331,168
Current Officers, Directors, Trustees, and Key Employees$103,528$103,528-$207,056
Other Employee Benefits$66,388$13,597-$79,985
Pension Plan Contributions$41,130$8,424-$49,554
Conferences and Meetings$46,020--$46,020
Payroll Taxes$30,637$6,275-$36,912
Fees for Services Accounting-$35,712-$35,712
Travel$29,667--$29,667
All Other Expenses$23,341$5,918-$29,259
Office Expenses$18,457$7,417-$25,874
Other Expenses$18,438$6,961-$18,438
Occupancy$7,501$7,501-$15,002
Insurance-$10,396-$10,396
Depreciation Depletion$6,891$1,412-$8,303
Payment Travel Entrtnmnt Publicly Ofcl-$1,885-$1,885
Total Functional Expenses$779,209$267,048$0$1,046,257
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Scheila DavisBoard MemberScheila Davis Serves as an Officer of Investar Bank. Southern Financial Exchange Holds a Certificate of Deposit With Investar Bank.No$100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
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 A, Line 6

“Southern financial exchange has members of the organization. There are two classes of members: financial institution member and affiliate or professional members.”

Form 990, Part VI, Section A, Line 7A

“Active members vote to elect directors of the board at the annual meeting. However, vacancies in the board of directors whether resulting from death, resignation, removal or other cause, may be filled for the unexpired term of the vacant directorship by a majority of directors then in office.”

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

“A copy of form 990 is not presented to all members of its governing body before it is filed. The return is reviewed and signed by donald jackson.”

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

“The organization does monitor compliance with the conflict of interest policy and addresses and resolves issues that would occur, if any.”

Form 990, Part VI, Section B, Line 15

“The process for determining compensation of the organization's officers and key employees involved analysis of comparability data for similar positions by other regional payment associations.”

Form 990, Part VI, Section C, Line 19

“Southern financial exchange makes their governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Southern Financial Exchange
EIN
72-0797058
Phone
5045256779
Address
1340 POYDRAS STREET NO 2010, NEW ORLEANS, LA 70112-1221

Signing Officer

Name
Donald Jackson
Title
CEO
Phone
5045256779
Signed
2019-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Jackson
Formed
1976
Legal Domicile
La
Voting Board Members
19
Independent Board Members
18
Employees
6
Volunteers
42

Preparer

Firm
Bourgeois Bennett LLC
Address
111 VETERANS BLVD 17TH FLOOR, METAIRIE, LA 70005
Preparer
Eric D Smith
Phone
5048314949
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The treasurer reviews the financial statements, reviews the audit or review report, but does not select the independent auditor. The president and ceo select the independent auditor.”

Financial Statement Notes

PART X, LINE 2:

“Accounting standards provide detailed guidance for financial statement recognition, measurement, and disclosure of uncertain tax positions recognized in an entity's financial statements. It requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will not be sustained upon examination. As of december 31, 2018 and 2017, management of sfe believes that it has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Management also believes that sfe is no longer subject to income tax examinations for years prior to 2015.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/Form990TFiledInd01
IRS990/FormationYr01976
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt019
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01144669
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt018
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt010396
IRS990/InsuranceGrp/TotalAmt010396
IRS990/InventoriesForSaleOrUseGrp/BOYAmt017643
IRS990/InventoriesForSaleOrUseGrp/EOYAmt010911
IRS990/InvestmentIncomeGrp/ExclusionAmt015271
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt015271
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt05
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt047813
IRS990/LandBldgEquipBasisNetGrp/BOYAmt016527
IRS990/LandBldgEquipBasisNetGrp/EOYAmt017618
IRS990/LandBldgEquipCostOrOtherBssAmt065431
IRS990/LegalDomicileStateCd0LA
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembershipDuesAmt0647093
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0OUR MISSION IS TO PROVIDE LEADERSHIP, EDUCATION, AND INNOVATIVE, COST EFFECTIVE PRODUCTS AND SERVICES FOR THE MUTUAL BENEFIT OF OUR MEMBERS AND THEIR CUSTOMERS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01317581
IRS990/NetAssetsOrFundBalancesEOYAmt01415993
IRS990/NetUnrelatedBusTxblIncmAmt0980
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt07501
IRS990/OccupancyGrp/ProgramServicesAmt07501
IRS990/OccupancyGrp/TotalAmt015002
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07417
IRS990/OfficeExpensesGrp/ProgramServicesAmt018457
IRS990/OfficeExpensesGrp/TotalAmt025874
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01304
IRS990/OtherAssetsTotalGrp/EOYAmt01250
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt013597
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt066388
IRS990/OtherEmployeeBenefitsGrp/TotalAmt079985
IRS990/OtherExpensesGrp/Desc0NACHA & OTHER DUES
IRS990/OtherExpensesGrp/Desc1PUBLICATION EXPENSE
IRS990/OtherExpensesGrp/Desc2MARKETING
IRS990/OtherExpensesGrp/Desc3SEMINAR EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01723
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16961
IRS990/OtherExpensesGrp/ProgramServicesAmt055717
IRS990/OtherExpensesGrp/ProgramServicesAmt133987
IRS990/OtherExpensesGrp/ProgramServicesAmt222638
IRS990/OtherExpensesGrp/ProgramServicesAmt318438
IRS990/OtherExpensesGrp/TotalAmt057440
IRS990/OtherExpensesGrp/TotalAmt140948
IRS990/OtherExpensesGrp/TotalAmt222638
IRS990/OtherExpensesGrp/TotalAmt318438
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/Desc1POSTAGE & HANDLING FEE
IRS990/OtherRevenueMiscGrp/Desc2NACHA REBATES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt06355
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt12134
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt21245
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt06355
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12134
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt21245
IRS990/OtherRevenueTotalAmt09734
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt056299
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0274869
IRS990/OtherSalariesAndWagesGrp/TotalAmt0331168
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06275
IRS990/PayrollTaxesGrp/ProgramServicesAmt030637
IRS990/PayrollTaxesGrp/TotalAmt036912
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08424
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt041130
IRS990/PensionPlanContributionsGrp/TotalAmt049554
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013970
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt020513
IRS990/PrincipalOfficerNm0DONALD JACKSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541900
IRS990/ProgramServiceRevenueGrp/BusinessCd1541900
IRS990/ProgramServiceRevenueGrp/BusinessCd2541900
IRS990/ProgramServiceRevenueGrp/BusinessCd3541900
IRS990/ProgramServiceRevenueGrp/Desc0CONTRACT SERVICES INCO
IRS990/ProgramServiceRevenueGrp/Desc1SEMINAR INCOME
IRS990/ProgramServiceRevenueGrp/Desc2CONFERENCE INCOME
IRS990/ProgramServiceRevenueGrp/Desc3PUBLICATION INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0229848
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt197097
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt286494
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt359132
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0229848
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt197097
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt286494
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt359132
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0583511
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt010170
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt01885
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt01885
IRS990/PYOtherExpensesAmt0330765
IRS990/PYOtherRevenueAmt03154
IRS990/PYProgramServiceRevenueAmt0486045
IRS990/PYRevenuesLessExpensesAmt060894
IRS990/PYSalariesCompEmpBnftPaidAmt0691221
IRS990/PYTotalExpensesAmt01021986
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01082880
IRS990/ReconcilationRevenueExpnssAmt098412
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0482305
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01524904
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01588057
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt017618
IRS990ScheduleD/EquipmentGrp/DepreciationAmt047813
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt065431
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING STANDARDS PROVIDE DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. IT REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. AS OF DECEMBER 31, 2018 AND 2017, MANAGEMENT OF SFE BELIEVES THAT IT HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. MANAGEMENT ALSO BELIEVES THAT SFE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017618
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0157830
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount049226
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt025157
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt020867
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DONALD JACKSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0253080
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0SCHEILA DAVIS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0100
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SCHEILA DAVIS SERVES AS AN OFFICER OF INVESTAR BANK. SOUTHERN FINANCIAL EXCHANGE HOLDS A CERTIFICATE OF DEPOSIT WITH INVESTAR BANK.
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOUTHERN FINANCIAL EXCHANGE HAS MEMBERS OF THE ORGANIZATION. THERE ARE TWO CLASSES OF MEMBERS: FINANCIAL INSTITUTION MEMBER AND AFFILIATE OR PROFESSIONAL MEMBERS.

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,169,905
Liabilities
$753,912
Net assets
$1,415,993
Revenue
$1,144,669
Expenses
$1,046,257
Net income
$98,412
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$0.93$2.02$1.83$1.52$0.30
2023Detailed filing. Detailed filing data is available for this year.$2.64$0.92$1.72$1.60$1.43$0.17
2022Detailed filing. Detailed filing data is available for this year.$2.56$1.02$1.55$1.48$1.54$0.06
2021Detailed filing. Detailed filing data is available for this year.$2.45$0.85$1.61$1.35$1.21$0.15
2020Detailed filing. Detailed filing data is available for this year.$2.27$0.79$1.47$1.15$1.09$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.19$0.77$1.42$1.19$1.20$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.17$0.75$1.42$1.14$1.05$0.10
2017Detailed filing. Detailed filing data is available for this year.$2.06$0.74$1.32$1.08$1.02$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.92$0.66$1.26$1.10$1.06$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.89$0.68$1.22$1.05$1.19$0.15
2014Detailed filing. Detailed filing data is available for this year.$2.03$0.66$1.36$1.03$1.07$0.04
2013Detailed filing. Detailed filing data is available for this year.$2.06$0.66$1.40$1.04$0.95$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.97$0.65$1.32$0.99
2011Summary only. Only limited summary data is available for this year.$1.93$0.65$1.28$1.05$0.94$0.11
2010Summary only. Only limited summary data is available for this year.$1.84$0.68$1.16$1.01$0.95$0.06