Overview
What is Southern Bancorp Cdc?
Southern Bancorp Community Development Corporation (Southern Bancorp CDC) is a nonprofit organization situated in Arkadelphia, Arkansas. Their primary mission is to foster economic development in underserved and rural communities, primarily by constructing affordable housing for families with incomes that fall within the very low, low, and moderate income brackets. Additionally, they engage in commercial and industrial real estate projects, aiming to stimulate job creation in these areas. Southern Bancorp CDC's approach to financial services is unique, prioritizing profitability alongside social responsibility. By providing responsible and thoughtful financial products and services, they strive to create sustainable economic opportunities in these often overlooked communities.
Is Southern Bancorp Cdc legitimate?
Southern Bancorp Cdc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southern Bancorp Cdc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Southern Bancorp Cdc?
Southern Bancorp CDC's mission is centered around fostering economic opportunities in disadvantaged rural communities. They achieve this by offering financially responsible and responsive services and products, striking a balance between profit and purpose. This non-profit organization is dedicated to developing affordable housing for low-income families and commercial real estate for economic growth and job creation in rural Arkansas and the Mississippi Delta.
Who is the CEO of Southern Bancorp Cdc?
John French is the Director of Southern Bancorp Cdc.
What is the revenue of Southern Bancorp Cdc?
Southern Bancorp Cdc's revenue in 2022 was $446,540.
Who are the executives of Southern Bancorp Cdc and what are their salaries?
There 3 volunteers at Southern Bancorp Cdc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Southern Bancorp Cdc?
Southern Bancorp Cdc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southern Bancorp Cdc
Southern Bancorp Cdc, as a community development corporation, is dedicated to creating economic opportunities in rural and underserved communities. They achieve this mission by offering financially responsible and responsive products and services. The organization strikes a balance between profit and purpose, ensuring that their operations positively impact the communities they serve.
In particular, Southern Bancorp Cdc focuses on developing affordable housing for families with very low, low, and moderate incomes. Additionally, they invest in commercial and industrial real estate, which fosters economic development and job creation in these communities. By providing these financial services, Southern Bancorp Cdc contributes to the overall well-being and growth of rural Arkansas and the Mississippi Delta.
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Impact
October, 2024
Southern Bancorp Cdc plays a transformative role in rural and underserved communities by fostering economic opportunity through the development of affordable housing and commercial real estate. By focusing on very low, low, and moderate-income families, it ensures that essential housing solutions are accessible to those who need them most. This commitment not only helps individuals and families secure stable living conditions but also stimulates local economies through job creation and industrial development. By offering responsible financial products and services, Southern Bancorp Cdc balances the dual objectives of generating profits and fulfilling social purpose, making a meaningful impact in regions like rural Arkansas and the Mississippi Delta.
This information is meant to be a general summary of Southern Bancorp Cdc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$144,790
- Program Service Revenue: $591,330
- Gross Receipts: $591,425
Assets and Liabilities:
- Total Assets: $15,158
- Total Liabilities: $0
- Net Assets: $15,158
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE
Revenue
$591,330
Organization Details
Founding Year
1998
Phone
(870) 246-1080Principal Officer
John French
Main Address
605 MAIN STREET SUITE 202, ARKADELPHIA, AR, 71923
NTEE Category
Code: L20 - Housing
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