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Southern Five Development Corporation FY2024 filing

Not tax-deductible

Ullin, IL501(c)(6)Since 1976EIN 37-1314754Revenue $52K in FY2024

On file with the IRS5 Justice Dr, 62992-2162 · Ullin, ILTax-exempt since Nov 1993

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To provide business and financial assistance to both new and expanding businesses to help further promote enonomic growth and the creation of jobs.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $99K a year · 61% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
215 mo
of spending, in cash
Looks good: 214.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$346K
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$52K
-62% vs prior year
Spent
$41K
To programs
100%
Net assets
$1.0M
By yearFY2020–FY2025
Revenue
$52K
FY2024▼ -62%
Tap a bar for its year
Revenue by fiscal year
FY2020$47K
FY2021$504K
FY2022$199K
FY2023$136K
FY2024$52K
FY2025$34K
Expenses
$41K
FY2024▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$157K
FY2021$66K
FY2022$43K
FY2023$31K
FY2024$41K
FY2025$38K
Net assets
$1.0M
FY2024▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$306K
FY2021$744K
FY2022$900K
FY2023$1.0M
FY2024$1.0M
FY2025$1.0M

From the FY2024 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $41K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Alan Racey
1st Vice-Chairman
$0Pt VII · Sec A
Darryl Harvell
2nd Vice-Chairman
$0Pt VII · Sec A
Sue Sandusky
Secretary
$0Pt VII · Sec A
Rita Flummer
Treasurer
$0Pt VII · Sec A
Carol Dials
Officer at Large
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Southern Five Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Helps businesses grow and create jobs with financial and business support.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To promote economic growth and help creat new jobs by providing financial assistance to new and existing business in our area.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$52K
Ln 12
Fees for servicesLn 2g$28K
Gifts and grantsLn 1h$22K
Investment incomeLn 3$2K
Money outPt IX
$41K
Ln 25
Programscol B$41K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$727K
Total assetsLn 16$1.4M
LiabilitiesLn 26$346K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$22K
Fees for servicesLn 2g$28K
Investment incomeLn 3$2K
Other incomeLn 4–11$50
Total revenueLn 12$52K
Assets in detailPt X, end of year
SavingsLn 2$727K
Cash and savings togetherLn 1–2$727K
Total assetsLn 16$1.4M
LiabilitiesLn 26$346K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$641K$727K
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$375K$346K
Net assetsLn 32$1.0M$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$37K$37K$0$0
InterestLn 20$4K$4K$0$0
Total functional expensesLn 25$41K$41K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $34K$38K−$3K$1.0M 990 PDF
FY2024 Viewing $52K$41K$11K$1.0M 990 PDF
FY2023 $136K$31K$104K$1.0M 990 PDF
FY2022 $199K$43K$156K$900K 990 PDF
FY2021 $504K$66K$438K$744K 990 PDF
FY2020 $47K$157K−$110K$306K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $51,547 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,095$21,934
I-9 Program service revenuePrior year $31,311$27,798
I-10 Investment incomePrior year $1,238$1,765
I-11 Other revenue$50
I-12 Total revenuePrior year $135,644$51,547
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $31,171$40,667
I-18 Total expensesPrior year $31,171$40,667
I-19 Revenue less expensesPrior year $104,473$10,880
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $51,547 across 6 lines filed
VIII-1f All other contributions, gifts and grants$21,934
VIII-1h Total contributions, gifts and grants$21,934
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$27,798
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $1,765$1,765
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $50 · Unrelated business $0 · Excluded from tax $0$50
VIII-12 Total revenueRelated to mission $27,848 · Unrelated business $0 · Excluded from tax $1,765$51,547
Part IX · Statement of functional expenses $40,667 across 2 lines filed
IX-11a Management feesPrograms $36,878 · Management $0 · Fundraising $0$36,878
IX-20 InterestPrograms $3,789 · Management $0 · Fundraising $0$3,789
IX-25 Total functional expensesPrograms $40,667 · Management $0 · Fundraising $0$40,667
Part X · Balance sheet $1,361,732 assets, 7 lines filed
X-2 Savings and temporary cash investmentsStart of year $641,179$727,420
X-4 Accounts receivableStart of year $737,952$634,312
X-16 Total assetsStart of year $1,379,131$1,361,732
X-26 Total liabilitiesStart of year $374,606$346,327
X-28 Net assets with donor restrictionsStart of year $1,004,525$1,015,405
X-32 Total net assets or fund balancesStart of year $1,004,525$1,015,405
X-33 Total liabilities and net assetsStart of year $1,379,131$1,361,732
Part XI · Reconciliation of net assets $1,015,405 net assets at year end
XI-1 Total revenue$51,547
XI-2 Total expenses$40,667
XI-3 Revenue less expenses$10,880
XI-4 Net assets at start of year$1,004,525
XI-10 Net assets at end of year$1,015,405

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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