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Southland Development Authority Nfp FY2022 filing

Tax-deductible

Tinley Park, IL501(c)(3) EIN 84-2818243Revenue $2.4M in FY2022

On file with the IRSsouthlanddevelopment.org17730 Oak Park Ave Ste D, 60477-2065 · Tinley Park, ILTax-exempt since Oct 2020Publicly supported charity — 170(b)(1)(A)(vi)

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The Southland Development Authority (sda) was launched in 2019 with a mission to collaboratively design and support implementation of comprehensive, transformative, inclusive economic growth in cook county's south suburbs. Sda seeks to re-establish the Southland as a major hub of economic activity, revitalizing the area as a unique set of communities that celebrates and engages its rich history and diversity. Inclusive economic growth has been a founding principle of the sda, informing all of its programs and activities with a focus on the following dimensions:1.ownership - growing business and real estate ownership by people of color.2.employment - increasing the employment of workers of color in quality jobs with strong career ladder.3.location and access - ensuring disadvantaged populations can live near job centers.4.participation - growing diverse representation at the relevant private, public and civic sector "tables," where growth strategies are shaped and implemented.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
$500K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $32K a year · 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$500K
to officers and key staff · 27% of spending
Worth a look: pay to officers and key staff is 27% of spending; over 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $669K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.2M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
18
of 19 voting members
Looks good: 18 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+48% vs prior year
Spent
$1.9M
To programs
65%
Net assets
$641
By yearFY2020–FY2024
Revenue
$2.4M
FY2022▲ +48%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.0M
FY2021$1.6M
FY2022$2.4M
FY2023$3.2M
FY2024$3.6M
Expenses
$1.9M
FY2022▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$2.0M
FY2022$1.9M
FY2023$3.7M
FY2024$3.5M
Net assets
$641
FY2022▲ +100%
Tap a bar for its year
Net assets by fiscal year
FY2020$67K
FY2021−$549K
FY2022$641
FY2023−$18K
FY2024$86K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2020.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $1.2M Management & general 47% · $868K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

40 people listed on the 990; $500K paid to officers and key staff.

Part VII, Section A · reportable compensation
$250,000Pt VII · Sec A
Irene Sherr
Director
$250,000Pt VII · Sec A
Jeff Allen
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
David Doig
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022
Bo Kemp—$271,621$250,000
Irene Sherr——$250,000
John Bo Kemp$243,505——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Southland Development Authority Nfp 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Drives inclusive economic growth and revitalizes communities in Cook County's South Suburbs.

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Provided by the organization

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4 programs · $1.9M · in their own filed words · FY2022
01

The sda business growth services (BGS) program provides targeted, industry-specific, technical and financial support to businesses through an entensive and sophisticated network of partner organizations, expert mentors and specialists.

$788Kprogram expense
02

The sda business growth services (BGS) program provides targeted, industry-specific, technical and financial support to businesses through an entensive and sophisticated network of partner organizations, expert mentors and specialists.

$687Kprogram expense
03

The sda metals hub will grow revenue for metals, manufacturing and equipment (MM&E) firms in the region collaboratively by creating and harnessing the most accessible, capable, and competitive metal fabrication supply chains in the U.S. To deliver new regional revenue and growth.

$287Kprogram expense
04

The sda metals hub will grow revenue for metals, manufacturing and equipment (MM&E) firms in the region collaboratively by creating and harnessing the most accessible, capable, and competitive metal fabrication supply chains in the U.S. To deliver new regional revenue and growth.

$159Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
John D and Catherine T Macarthur Foundation (consolidated)FY2024$250K
Women's Business Development CenterFY2024$169K
The Chicago Community TrustFY2024$150K
Northern Illinois Community Initiatives INCFY2024$100K
Total grants receivedfrom 4 funders$669K
See all 4 funders →

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$1.9M
Other incomeLn 4–11$544K
Investment incomeLn 3$55
Money outPt IX
$1.9M
Ln 25
Programscol B$1.2M
Managementcol C$868K
Owns and owesPt X
$641
net assets · Ln 32
Cash and savingsLn 1–2$142K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
40
listed · VII A
PaidVII A2
Voting boardVI 1a19
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Government grantsLn 1e$1.1M
Investment incomeLn 3$55
Other incomeLn 4–11$544K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$142K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.2M
Net assetsLn 32$641
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.6M$3.5M$104K$86K 990 PDF
FY2023 $3.2M$3.7M−$412K−$18K 990 PDF
FY2022 Viewing $2.4M$1.9M$554K$641 990 PDF
FY2021 $1.6M$2.0M−$322K−$549K 990 PDF
FY2020 $2.0M$2.0M−$83K$67K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support J · Pay O · Explanations
See the full FY2022 990 (1 part)
Part VI · Governance 18 of 19 board members independent, 4 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members18
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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